Frandsen Bank & Trust Mortgage Lending & HMDA Data, 2011
In 2011, Frandsen Bank & Trust of Lonsdale, MN reported 988 mortgage applications totaling $123.0 million, down 3% from 2010. The average application was for $124,470, and applicants reported an average income of $81,864. 84% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Grand Forks, ND-MN (172), Duluth, MN-WI (113) and Minneapolis-St. Paul-Bloomington, MN-WI (102) (applications in parentheses).
| Mortgage Company & Address | Frandsen Bank & Trust 116 Central Street West Lonsdale, MN 55046 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2014 2013 2012 2011 2010 2009 2008 2007 2006 |
| Total Number of Mortgage Applications | 988 |
| Total Mortgage Loan Application Amount | $122,977,000 |
| Average Mortgage Loan Application Amount | $124,470 |
| Highest Mortgage Loan Application Amount | $1,171,000 |
| Average Applicant Income | $81,864 |
| Highest Applicant Income | $959,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Frandsen Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Brown, Minnesota | 107 | $ 9,657,000 | $ 90,252 | $ 59,000 |
| Grand Forks, North Dakota | 102 | $ 10,317,000 | $ 101,147 | $ 77,000 |
| St. Louis, Minnesota | 88 | $ 11,532,000 | $ 131,045 | $ 98,000 |
| Crow Wing, Minnesota | 72 | $ 15,109,000 | $ 209,847 | $ 115,000 |
| Polk, Minnesota | 70 | $ 8,202,000 | $ 117,171 | $ 89,000 |
| Rice, Minnesota | 55 | $ 6,833,000 | $ 124,236 | $ 67,000 |
| Le Sueur, Minnesota | 54 | $ 6,612,000 | $ 122,444 | $ 91,000 |
| Blue Earth, Minnesota | 50 | $ 6,787,000 | $ 135,740 | $ 79,000 |
| Scott, Minnesota | 43 | $ 5,329,000 | $ 123,930 | $ 74,000 |
| Nicollet, Minnesota | 37 | $ 4,619,000 | $ 124,837 | $ 73,000 |
| Pine, Minnesota | 35 | $ 4,359,000 | $ 124,542 | $ 70,000 |
| Carlton, Minnesota | 24 | $ 3,141,000 | $ 130,875 | $ 89,000 |
| Norman, Minnesota | 21 | $ 1,475,000 | $ 70,238 | $ 86,000 |
| Benton, Minnesota | 19 | $ 1,861,000 | $ 97,947 | $ 54,000 |
| Cass, Minnesota | 18 | $ 3,747,000 | $ 208,166 | $ 150,000 |
| Isanti, Minnesota | 14 | $ 2,474,000 | $ 176,714 | $ 57,000 |
| Renville, Minnesota | 14 | $ 1,259,000 | $ 89,928 | $ 52,000 |
| Marshall, Minnesota | 11 | $ 716,000 | $ 65,090 | $ 41,000 |
| Chisago, Minnesota | 9 | $ 1,446,000 | $ 160,666 | $ 101,000 |
| Hennepin, Minnesota | 8 | $ 1,226,000 | $ 153,250 | $ 109,000 |
| Kanabec, Minnesota | 8 | $ 731,000 | $ 91,375 | $ 58,000 |
| Dakota, Minnesota | 6 | $ 433,000 | $ 72,166 | $ 79,000 |
| Mille Lacs, Minnesota | 6 | $ 483,000 | $ 80,500 | $ 44,000 |
| Sherburne, Minnesota | 6 | $ 1,631,000 | $ 271,833 | $ 128,000 |
| Itasca, Minnesota | 5 | $ 544,000 | $ 108,800 | $ 86,000 |
| Morrison, Minnesota | 5 | $ 400,000 | $ 80,000 | $ 55,000 |
| Sibley, Minnesota | 5 | $ 889,000 | $ 177,800 | $ 69,000 |
| Steele, Minnesota | 5 | $ 560,000 | $ 112,000 | $ 64,000 |
| Washington, Minnesota | 5 | $ 531,000 | $ 106,200 | $ 100,000 |
| Anoka, Minnesota | 4 | $ 370,000 | $ 92,500 | $ 142,000 |
| Goodhue, Minnesota | 4 | $ 356,000 | $ 89,000 | $ 62,000 |
| Hubbard, Minnesota | 4 | $ 664,000 | $ 166,000 | $ 124,000 |
| Lake, Minnesota | 4 | $ 1,126,000 | $ 281,500 | $ 125,000 |
| Lake of the Woods, Minnesota | 4 | $ 219,000 | $ 54,750 | $ 160,000 |
| Ramsey, Minnesota | 4 | $ 439,000 | $ 109,750 | $ 130,000 |
| Walsh, North Dakota | 4 | $ 340,000 | $ 85,000 | $ 44,000 |
| Clay, Minnesota | 3 | $ 274,000 | $ 91,333 | $ 35,000 |
| Faribault, Minnesota | 3 | $ 292,000 | $ 97,333 | $ 112,000 |
| McLeod, Minnesota | 3 | $ 275,000 | $ 91,666 | $ 50,000 |
| Otter Tail, Minnesota | 3 | $ 564,000 | $ 188,000 | $ 114,000 |
| Redwood, Minnesota | 3 | $ 454,000 | $ 151,333 | $ 69,000 |
| Maricopa, Arizona | 2 | $ 300,000 | $ 150,000 | $ 208,000 |
| Aitkin, Minnesota | 2 | $ 455,000 | $ 227,500 | $ 145,000 |
| Becker, Minnesota | 2 | $ 305,000 | $ 152,500 | $ 113,000 |
| Beltrami, Minnesota | 2 | $ 84,000 | $ 42,000 | $ 86,000 |
| Carver, Minnesota | 2 | $ 213,000 | $ 106,500 | $ 51,000 |
| Meeker, Minnesota | 2 | $ 212,000 | $ 106,000 | $ 61,000 |
| Stearns, Minnesota | 2 | $ 162,000 | $ 81,000 | $ 26,000 |
| Waseca, Minnesota | 2 | $ 170,000 | $ 85,000 | $ 28,000 |
| Cass, North Dakota | 2 | $ 147,000 | $ 73,500 | $ 29,000 |
| Big Stone, Minnesota | 1 | $ 124,000 | $ 124,000 | $ 131,000 |
| Dodge, Minnesota | 1 | $ 120,000 | $ 120,000 | $ 92,000 |
| Douglas, Minnesota | 1 | $ 84,000 | $ 84,000 | $ 123,000 |
| Kandiyohi, Minnesota | 1 | $ 10,000 | $ 10,000 | $ 92,000 |
| Lyon, Minnesota | 1 | $ 131,000 | $ 131,000 | $ 49,000 |
| Mahnomen, Minnesota | 1 | $ 138,000 | $ 138,000 | $ 75,000 |
| Martin, Minnesota | 1 | $ 204,000 | $ 204,000 | $ 138,000 |
| Pennington, Minnesota | 1 | $ 147,000 | $ 147,000 | $ 77,000 |
| Pope, Minnesota | 1 | $ 235,000 | $ 235,000 | $ 92,000 |
| Todd, Minnesota | 1 | $ 35,000 | $ 35,000 | $ 12,000 |
| Wright, Minnesota | 1 | $ 28,000 | $ 28,000 | $ 68,000 |
| Ramsey, North Dakota | 1 | $ 60,000 | $ 60,000 | $ 78,000 |
| Richland, North Dakota | 1 | $ 97,000 | $ 97,000 | $ 42,000 |
| Douglas, Wisconsin | 1 | $ 160,000 | $ 160,000 | $ 104,000 |
| Ozaukee, Wisconsin | 1 | $ 106,000 | $ 106,000 | $ 43,000 |
| Polk, Wisconsin | 1 | $ 114,000 | $ 114,000 | $ 67,000 |
Mortgage Loan Application Detail Totals for Frandsen Bank & Trust in 2011
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Refinancing | 586 | $80,307,000 | $137,000 | $1,171,000 | $83,000 | $518,000 |
| Home Purchase | 330 | $39,269,000 | $118,000 | $713,000 | $82,000 | $959,000 |
| Home Improvement | 72 | $3,401,000 | $47,000 | $300,000 | $72,000 | $368,000 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 930 | $115,780,000 | $124,000 | $882,000 | $83,000 | $959,000 |
| Not Provided | 25 | $3,676,000 | $147,000 | $417,000 | $120,000 | $500,000 |
| Not applicable | 18 | $2,455,000 | $136,000 | $1,171,000 | $0 | $0 |
| Hispanic | 8 | $442,000 | $55,000 | $114,000 | $45,000 | $92,000 |
| Asian | 3 | $196,000 | $65,000 | $74,000 | $91,000 | $135,000 |
| Black or African American | 2 | $315,000 | $157,000 | $229,000 | $66,000 | $83,000 |
| American Indian or Alaskan Native | 2 | $113,000 | $56,000 | $105,000 | $27,000 | $35,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 941 | $117,339,000 | $124,000 | $1,171,000 | $84,000 | $959,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 41 | $4,714,000 | $114,000 | $260,000 | $40,000 | $82,000 |
| FHA-insured (Federal Housing Administration) | 4 | $570,000 | $142,000 | $170,000 | $39,000 | $52,000 |
| VA-guaranteed (Veterans Administration) | 2 | $354,000 | $177,000 | $177,000 | $57,000 | $62,000 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 831 | $102,676,000 | $123,000 | $1,171,000 | $85,000 | $959,000 |
| Application Denied By Financial Institution | 74 | $8,196,000 | $110,000 | $465,000 | $55,000 | $203,000 |
| Application Withdrawn By Applicant | 44 | $6,985,000 | $158,000 | $882,000 | $82,000 | $500,000 |
| Application Approved But Not Accepted | 30 | $4,260,000 | $142,000 | $417,000 | $78,000 | $185,000 |
| Preapproval Denied by Financial Institution | 9 | $860,000 | $95,000 | $170,000 | $41,000 | $140,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Credit History | 39 | $3,674,000 | $94,000 | $465,000 | $50,000 | $114,000 |
| Debt-To-Income Ratio | 25 | $3,141,000 | $125,000 | $417,000 | $53,000 | $161,000 |
| Collateral | 9 | $1,516,000 | $168,000 | $417,000 | $80,000 | $203,000 |
| Other | 4 | $262,000 | $65,000 | $137,000 | $41,000 | $81,000 |
| Employment History | 3 | $263,000 | $87,000 | $150,000 | $65,000 | $140,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $103,000 | $51,000 | $80,000 | $29,000 | $35,000 |
| Unverifiable Information | 1 | $97,000 | $97,000 | $97,000 | $40,000 | $40,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Frandsen Bank & Trust's 2011 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Frandsen Bank & Trust's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in Minnesota, download the full spreadsheet
with aggregated HMDA statistics today.
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