Frandsen Bank & Trust Mortgage Lending & HMDA Data, 2012
In 2012, Frandsen Bank & Trust of Lonsdale, MN reported 1,922 mortgage applications totaling $263.6 million, up 95% from 2011. The average application was for $137,122, and applicants reported an average income of $92,232. 82% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Grand Forks, ND-MN (356), Duluth, MN-WI (244) and Minneapolis-St. Paul-Bloomington, MN-WI (180) (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 | 1,922 |
| Total Mortgage Loan Application Amount | $263,550,000 |
| Average Mortgage Loan Application Amount | $137,122 |
| Highest Mortgage Loan Application Amount | $1,507,000 |
| Average Applicant Income | $92,232 |
| Highest Applicant Income | $3,600,000 |
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(HMDA) records Frandsen Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Grand Forks, North Dakota | 214 | $ 25,922,000 | $ 121,130 | $ 83,000 |
| St. Louis, Minnesota | 190 | $ 24,035,000 | $ 126,500 | $ 90,000 |
| Polk, Wisconsin | 152 | $ 15,711,000 | $ 103,361 | $ 77,000 |
| Polk, Minnesota | 142 | $ 19,904,000 | $ 140,169 | $ 80,000 |
| Brown, Minnesota | 137 | $ 15,668,000 | $ 114,364 | $ 70,000 |
| Crow Wing, Minnesota | 113 | $ 21,238,000 | $ 187,946 | $ 119,000 |
| Le Sueur, Minnesota | 106 | $ 13,569,000 | $ 128,009 | $ 72,000 |
| Rice, Minnesota | 102 | $ 14,658,000 | $ 143,705 | $ 76,000 |
| Blue Earth, Minnesota | 63 | $ 8,600,000 | $ 136,507 | $ 80,000 |
| Nicollet, Minnesota | 54 | $ 8,296,000 | $ 153,629 | $ 85,000 |
| Benton, Minnesota | 51 | $ 6,207,000 | $ 121,705 | $ 74,000 |
| Carlton, Minnesota | 50 | $ 7,601,000 | $ 152,020 | $ 111,000 |
| Scott, Minnesota | 41 | $ 6,334,000 | $ 154,487 | $ 78,000 |
| Pine, Minnesota | 31 | $ 4,361,000 | $ 140,677 | $ 60,000 |
| Chisago, Minnesota | 30 | $ 4,366,000 | $ 145,533 | $ 95,000 |
| Norman, Minnesota | 30 | $ 2,222,000 | $ 74,066 | $ 96,000 |
| Hennepin, Minnesota | 29 | $ 5,838,000 | $ 201,310 | $ 108,000 |
| Renville, Minnesota | 28 | $ 2,550,000 | $ 91,071 | $ 66,000 |
| Cass, Minnesota | 25 | $ 8,510,000 | $ 340,400 | $ 163,000 |
| Marshall, Minnesota | 25 | $ 2,646,000 | $ 105,840 | $ 76,000 |
| Burnett, Wisconsin | 24 | $ 2,556,000 | $ 106,500 | $ 75,000 |
| Anoka, Minnesota | 18 | $ 2,882,000 | $ 160,111 | $ 75,000 |
| Isanti, Minnesota | 15 | $ 1,808,000 | $ 120,533 | $ 64,000 |
| Dakota, Minnesota | 14 | $ 2,077,000 | $ 148,357 | $ 77,000 |
| Morrison, Minnesota | 13 | $ 1,561,000 | $ 120,076 | $ 79,000 |
| Kanabec, Minnesota | 12 | $ 1,164,000 | $ 97,000 | $ 54,000 |
| Mille Lacs, Minnesota | 12 | $ 1,642,000 | $ 136,833 | $ 84,000 |
| Stearns, Minnesota | 10 | $ 1,382,000 | $ 138,200 | $ 255,000 |
| Becker, Minnesota | 9 | $ 2,068,000 | $ 229,777 | $ 217,000 |
| Hubbard, Minnesota | 8 | $ 1,364,000 | $ 170,500 | $ 160,000 |
| Ramsey, Minnesota | 8 | $ 1,652,000 | $ 206,500 | $ 539,000 |
| Waseca, Minnesota | 8 | $ 1,167,000 | $ 145,875 | $ 91,000 |
| Itasca, Minnesota | 7 | $ 1,050,000 | $ 150,000 | $ 84,000 |
| Kandiyohi, Minnesota | 7 | $ 1,432,000 | $ 204,571 | $ 525,000 |
| Sherburne, Minnesota | 7 | $ 1,266,000 | $ 180,857 | $ 223,000 |
| Sibley, Minnesota | 7 | $ 723,000 | $ 103,285 | $ 66,000 |
| Lake, Minnesota | 6 | $ 1,383,000 | $ 230,500 | $ 135,000 |
| Otter Tail, Minnesota | 6 | $ 1,342,000 | $ 223,666 | $ 211,000 |
| Washington, Minnesota | 6 | $ 1,199,000 | $ 199,833 | $ 133,000 |
| Beltrami, Minnesota | 5 | $ 1,383,000 | $ 276,600 | $ 277,000 |
| Carver, Minnesota | 5 | $ 1,491,000 | $ 298,200 | $ 156,000 |
| Clay, Minnesota | 5 | $ 439,000 | $ 87,800 | $ 77,000 |
| McLeod, Minnesota | 5 | $ 661,000 | $ 132,200 | $ 55,000 |
| St. Croix, Wisconsin | 5 | $ 487,000 | $ 97,400 | $ 75,000 |
| Aitkin, Minnesota | 4 | $ 954,000 | $ 238,500 | $ 245,000 |
| Barron, Wisconsin | 4 | $ 707,000 | $ 176,750 | $ 144,000 |
| Douglas, Wisconsin | 4 | $ 305,000 | $ 76,250 | $ 73,000 |
| Faribault, Minnesota | 3 | $ 175,000 | $ 58,333 | $ 56,000 |
| Goodhue, Minnesota | 3 | $ 442,000 | $ 147,333 | $ 43,000 |
| Pennington, Minnesota | 3 | $ 230,000 | $ 76,666 | $ 58,000 |
| Watonwan, Minnesota | 3 | $ 268,000 | $ 89,333 | $ 64,000 |
| Pembina, North Dakota | 3 | $ 266,000 | $ 88,666 | $ 46,000 |
| Traill, North Dakota | 3 | $ 250,000 | $ 83,333 | $ 96,000 |
| Walsh, North Dakota | 3 | $ 121,000 | $ 40,333 | $ 44,000 |
| Lee, Florida | 2 | $ 200,000 | $ 100,000 | $ 295,000 |
| Chippewa, Minnesota | 2 | $ 234,000 | $ 117,000 | $ 326,000 |
| Clearwater, Minnesota | 2 | $ 184,000 | $ 92,000 | $ 12,000 |
| Cook, Minnesota | 2 | $ 228,000 | $ 114,000 | $ 111,000 |
| Douglas, Minnesota | 2 | $ 446,000 | $ 223,000 | $ 139,000 |
| Mahnomen, Minnesota | 2 | $ 324,000 | $ 162,000 | $ 153,000 |
| Meeker, Minnesota | 2 | $ 179,000 | $ 89,500 | $ 98,000 |
| Redwood, Minnesota | 2 | $ 177,000 | $ 88,500 | $ 78,000 |
| Roseau, Minnesota | 2 | $ 212,000 | $ 106,000 | $ 45,000 |
| Steele, Minnesota | 2 | $ 550,000 | $ 275,000 | $ 207,000 |
| Todd, Minnesota | 2 | $ 67,000 | $ 33,500 | $ 46,000 |
| Wright, Minnesota | 2 | $ 564,000 | $ 282,000 | $ 107,000 |
| Sawyer, Wisconsin | 2 | $ 369,000 | $ 184,500 | $ 153,000 |
| Maricopa, Arizona | 1 | $ 230,000 | $ 230,000 | $ 220,000 |
| Mohave, Arizona | 1 | $ 150,000 | $ 150,000 | $ 664,000 |
| Riverside, California | 1 | $ 243,000 | $ 243,000 | $ 152,000 |
| Arapahoe, Colorado | 1 | $ 185,000 | $ 185,000 | $ 58,000 |
| Polk, Iowa | 1 | $ 75,000 | $ 75,000 | $ 9,000 |
| Ontonagon, Michigan | 1 | $ 172,000 | $ 172,000 | $ 67,000 |
| Big Stone, Minnesota | 1 | $ 100,000 | $ 100,000 | $ 110,000 |
| Cottonwood, Minnesota | 1 | $ 124,000 | $ 124,000 | $ 34,000 |
| Freeborn, Minnesota | 1 | $ 278,000 | $ 278,000 | $ 137,000 |
| Koochiching, Minnesota | 1 | $ 100,000 | $ 100,000 | $ 147,000 |
| Lyon, Minnesota | 1 | $ 57,000 | $ 57,000 | $ 83,000 |
| Martin, Minnesota | 1 | $ 206,000 | $ 206,000 | $ 143,000 |
| Pipestone, Minnesota | 1 | $ 190,000 | $ 190,000 | $ 49,000 |
| Red Lake, Minnesota | 1 | $ 147,000 | $ 147,000 | $ 82,000 |
| Yellow Medicine, Minnesota | 1 | $ 60,000 | $ 60,000 | $ 51,000 |
| Benson, North Dakota | 1 | $ 269,000 | $ 269,000 | $ 207,000 |
| Cass, North Dakota | 1 | $ 80,000 | $ 80,000 | $ 42,000 |
| Morton, North Dakota | 1 | $ 115,000 | $ 115,000 | $ 62,000 |
| Nelson, North Dakota | 1 | $ 127,000 | $ 127,000 | $ 91,000 |
| Ward, North Dakota | 1 | $ 52,000 | $ 52,000 | $ 84,000 |
Mortgage Loan Application Detail Totals for Frandsen Bank & Trust in 2012
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 | 1,335 | $191,179,000 | $143,000 | $1,507,000 | $90,000 | $3,600,000 |
| Home Purchase | 508 | $66,341,000 | $130,000 | $700,000 | $100,000 | $1,238,000 |
| Home Improvement | 79 | $6,030,000 | $76,000 | $400,000 | $80,000 | $428,000 |
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 | 1,834 | $249,021,000 | $135,000 | $1,507,000 | $92,000 | $3,600,000 |
| Not Provided | 46 | $6,262,000 | $136,000 | $615,000 | $163,000 | $1,238,000 |
| Not applicable | 22 | $5,805,000 | $263,000 | $1,188,000 | $0 | $0 |
| Hispanic | 9 | $1,252,000 | $139,000 | $650,000 | $84,000 | $352,000 |
| American Indian or Alaskan Native | 6 | $643,000 | $107,000 | $327,000 | $54,000 | $92,000 |
| Asian | 4 | $367,000 | $91,000 | $184,000 | $110,000 | $167,000 |
| Black or African American | 1 | $200,000 | $200,000 | $200,000 | $72,000 | $72,000 |
| 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) | 1,866 | $257,026,000 | $137,000 | $1,507,000 | $94,000 | $3,600,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 49 | $5,670,000 | $115,000 | $233,000 | $45,000 | $108,000 |
| VA-guaranteed (Veterans Administration) | 4 | $519,000 | $129,000 | $250,000 | $34,000 | $100,000 |
| FHA-insured (Federal Housing Administration) | 3 | $335,000 | $111,000 | $141,000 | $53,000 | $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 | 1,571 | $215,400,000 | $137,000 | $1,507,000 | $96,000 | $3,600,000 |
| Application Denied By Financial Institution | 178 | $22,061,000 | $123,000 | $650,000 | $63,000 | $352,000 |
| Application Withdrawn By Applicant | 101 | $14,515,000 | $143,000 | $615,000 | $84,000 | $517,000 |
| Application Approved But Not Accepted | 63 | $10,554,000 | $167,000 | $905,000 | $102,000 | $329,000 |
| Preapproval Denied by Financial Institution | 8 | $723,000 | $90,000 | $149,000 | $24,000 | $41,000 |
| File Closed For Incompleteness | 1 | $297,000 | $297,000 | $297,000 | $180,000 | $180,000 |
| 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 | 65 | $6,712,000 | $103,000 | $417,000 | $57,000 | $327,000 |
| Debt-To-Income Ratio | 65 | $8,024,000 | $123,000 | $324,000 | $50,000 | $144,000 |
| Collateral | 36 | $5,762,000 | $160,000 | $650,000 | $93,000 | $352,000 |
| Employment History | 8 | $711,000 | $88,000 | $160,000 | $43,000 | $65,000 |
| Other | 5 | $700,000 | $140,000 | $168,000 | $66,000 | $111,000 |
| Unverifiable Information | 1 | $25,000 | $25,000 | $25,000 | $42,000 | $42,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $99,000 | $99,000 | $99,000 | $34,000 | $34,000 |
| Mortgage Insurance Denied | 1 | $192,000 | $192,000 | $192,000 | $180,000 | $180,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Frandsen Bank & Trust's 2012 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.
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