Frandsen Bank & Trust Mortgage Lending & HMDA Data, 2013
In 2013, Frandsen Bank & Trust of Lonsdale, MN reported 1,667 mortgage applications totaling $226.1 million, down 13% from 2012. The average application was for $135,637, and applicants reported an average income of $82,664. 77% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Duluth, MN-WI (261), Grand Forks, ND-MN (232) and Minneapolis-St. Paul-Bloomington, MN-WI (230) (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 | 1,667 |
| Total Mortgage Loan Application Amount | $226,108,000 |
| Average Mortgage Loan Application Amount | $135,637 |
| Highest Mortgage Loan Application Amount | $2,900,000 |
| Average Applicant Income | $82,664 |
| Highest Applicant Income | $870,000 |
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(HMDA) records Frandsen Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| St. Louis, Minnesota | 190 | $ 22,972,000 | $ 120,905 | $ 86,000 |
| Grand Forks, North Dakota | 136 | $ 18,405,000 | $ 135,330 | $ 69,000 |
| Polk, Minnesota | 96 | $ 12,954,000 | $ 134,937 | $ 94,000 |
| Crow Wing, Minnesota | 93 | $ 15,029,000 | $ 161,602 | $ 91,000 |
| Brown, Minnesota | 92 | $ 7,990,000 | $ 86,847 | $ 78,000 |
| Polk, Wisconsin | 87 | $ 8,596,000 | $ 98,804 | $ 68,000 |
| Le Sueur, Minnesota | 75 | $ 10,122,000 | $ 134,960 | $ 73,000 |
| Rice, Minnesota | 74 | $ 11,443,000 | $ 154,635 | $ 80,000 |
| Nicollet, Minnesota | 72 | $ 8,828,000 | $ 122,611 | $ 70,000 |
| Carlton, Minnesota | 70 | $ 8,520,000 | $ 121,714 | $ 78,000 |
| Scott, Minnesota | 57 | $ 11,264,000 | $ 197,614 | $ 89,000 |
| Blue Earth, Minnesota | 50 | $ 7,251,000 | $ 145,020 | $ 83,000 |
| Benton, Minnesota | 37 | $ 4,326,000 | $ 116,918 | $ 64,000 |
| Chisago, Minnesota | 33 | $ 5,186,000 | $ 157,151 | $ 95,000 |
| Cass, Minnesota | 32 | $ 7,018,000 | $ 219,312 | $ 118,000 |
| Pine, Minnesota | 32 | $ 3,501,000 | $ 109,406 | $ 87,000 |
| Hennepin, Minnesota | 30 | $ 4,858,000 | $ 161,933 | $ 75,000 |
| Renville, Minnesota | 29 | $ 2,228,000 | $ 76,827 | $ 79,000 |
| Isanti, Minnesota | 23 | $ 3,847,000 | $ 167,260 | $ 120,000 |
| Dakota, Minnesota | 22 | $ 4,559,000 | $ 207,227 | $ 113,000 |
| Anoka, Minnesota | 18 | $ 2,367,000 | $ 131,500 | $ 99,000 |
| Norman, Minnesota | 17 | $ 1,289,000 | $ 75,823 | $ 57,000 |
| Burnett, Wisconsin | 17 | $ 1,416,000 | $ 83,294 | $ 69,000 |
| Marshall, Minnesota | 14 | $ 998,000 | $ 71,285 | $ 55,000 |
| Washington, Minnesota | 14 | $ 2,736,000 | $ 195,428 | $ 70,000 |
| Kanabec, Minnesota | 13 | $ 1,403,000 | $ 107,923 | $ 63,000 |
| Mille Lacs, Minnesota | 13 | $ 964,000 | $ 74,153 | $ 41,000 |
| Ramsey, Minnesota | 12 | $ 1,037,000 | $ 86,416 | $ 47,000 |
| Lake, Minnesota | 11 | $ 1,982,000 | $ 180,181 | $ 112,000 |
| Aitkin, Minnesota | 10 | $ 1,461,000 | $ 146,100 | $ 72,000 |
| Carver, Minnesota | 10 | $ 1,745,000 | $ 174,500 | $ 89,000 |
| Morrison, Minnesota | 10 | $ 1,271,000 | $ 127,100 | $ 155,000 |
| Stearns, Minnesota | 9 | $ 2,902,000 | $ 322,444 | $ 143,000 |
| McLeod, Minnesota | 7 | $ 2,027,000 | $ 289,571 | $ 55,000 |
| Faribault, Minnesota | 6 | $ 483,000 | $ 80,500 | $ 58,000 |
| Sherburne, Minnesota | 6 | $ 3,055,000 | $ 509,166 | $ 158,000 |
| Steele, Minnesota | 6 | $ 942,000 | $ 157,000 | $ 73,000 |
| Todd, Minnesota | 6 | $ 494,000 | $ 82,333 | $ 75,000 |
| Becker, Minnesota | 5 | $ 937,000 | $ 187,400 | $ 145,000 |
| Beltrami, Minnesota | 5 | $ 908,000 | $ 181,600 | $ 105,000 |
| Douglas, Minnesota | 5 | $ 1,119,000 | $ 223,800 | $ 265,000 |
| Itasca, Minnesota | 5 | $ 373,000 | $ 74,600 | $ 64,000 |
| Sibley, Minnesota | 5 | $ 544,000 | $ 108,800 | $ 50,000 |
| Wright, Minnesota | 5 | $ 1,063,000 | $ 212,600 | $ 91,000 |
| Cass, North Dakota | 5 | $ 778,000 | $ 155,600 | $ 81,000 |
| Clearwater, Minnesota | 4 | $ 520,000 | $ 130,000 | $ 100,000 |
| Hubbard, Minnesota | 4 | $ 459,000 | $ 114,750 | $ 79,000 |
| Kandiyohi, Minnesota | 4 | $ 794,000 | $ 198,500 | $ 193,000 |
| Traill, North Dakota | 4 | $ 362,000 | $ 90,500 | $ 56,000 |
| Mohave, Arizona | 3 | $ 620,000 | $ 206,666 | $ 145,000 |
| Big Stone, Minnesota | 3 | $ 209,000 | $ 69,666 | $ 61,000 |
| Goodhue, Minnesota | 3 | $ 427,000 | $ 142,333 | $ 111,000 |
| Olmsted, Minnesota | 3 | $ 90,000 | $ 30,000 | $ 48,000 |
| Otter Tail, Minnesota | 3 | $ 469,000 | $ 156,333 | $ 75,000 |
| Waseca, Minnesota | 3 | $ 671,000 | $ 223,666 | $ 126,000 |
| Watonwan, Minnesota | 3 | $ 586,000 | $ 195,333 | $ 78,000 |
| Walsh, North Dakota | 3 | $ 236,000 | $ 78,666 | $ 37,000 |
| Maricopa, Arizona | 2 | $ 478,000 | $ 239,000 | $ 160,000 |
| Cottonwood, Minnesota | 2 | $ 200,000 | $ 100,000 | $ 113,000 |
| Meeker, Minnesota | 2 | $ 116,000 | $ 58,000 | $ 12,000 |
| Roseau, Minnesota | 2 | $ 111,000 | $ 55,500 | $ 61,000 |
| Sawyer, Wisconsin | 2 | $ 166,000 | $ 83,000 | $ 95,000 |
| Pinal, Arizona | 1 | $ 70,000 | $ 70,000 | $ 66,000 |
| Charlotte, Florida | 1 | $ 300,000 | $ 300,000 | $ 324,000 |
| Allamakee, Iowa | 1 | $ 100,000 | $ 100,000 | $ 43,000 |
| Clay, Minnesota | 1 | $ 172,000 | $ 172,000 | $ 65,000 |
| Dodge, Minnesota | 1 | $ 183,000 | $ 183,000 | $ 109,000 |
| Jackson, Minnesota | 1 | $ 65,000 | $ 65,000 | $ 64,000 |
| Koochiching, Minnesota | 1 | $ 124,000 | $ 124,000 | $ 38,000 |
| Mahnomen, Minnesota | 1 | $ 240,000 | $ 240,000 | $ 590,000 |
| Pennington, Minnesota | 1 | $ 35,000 | $ 35,000 | $ 77,000 |
| Red Lake, Minnesota | 1 | $ 130,000 | $ 130,000 | $ 31,000 |
| Wadena, Minnesota | 1 | $ 87,000 | $ 87,000 | $ 24,000 |
| Ramsey, North Dakota | 1 | $ 118,000 | $ 118,000 | $ 79,000 |
| Richland, North Dakota | 1 | $ 95,000 | $ 95,000 | $ 75,000 |
| Stark, North Dakota | 1 | $ 217,000 | $ 217,000 | $ 0 |
| Brown, South Dakota | 1 | $ 97,000 | $ 97,000 | $ 343,000 |
| Bayfield, Wisconsin | 1 | $ 62,000 | $ 62,000 | $ 65,000 |
| Chippewa, Wisconsin | 1 | $ 123,000 | $ 123,000 | $ 60,000 |
| Douglas, Wisconsin | 1 | $ 55,000 | $ 55,000 | $ 84,000 |
| Dunn, Wisconsin | 1 | $ 133,000 | $ 133,000 | $ 62,000 |
Mortgage Loan Application Detail Totals for Frandsen Bank & Trust in 2013
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 | 861 | $122,583,000 | $142,000 | $2,164,000 | $85,000 | $870,000 |
| Home Purchase | 672 | $94,845,000 | $141,000 | $2,900,000 | $81,000 | $673,000 |
| Home Improvement | 134 | $8,680,000 | $64,000 | $360,000 | $76,000 | $327,000 |
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 | 1,500 | $200,975,000 | $133,000 | $2,164,000 | $86,000 | $870,000 |
| Not Provided | 99 | $13,406,000 | $135,000 | $713,000 | $77,000 | $377,000 |
| Not applicable | 48 | $9,744,000 | $203,000 | $2,900,000 | $0 | $0 |
| Asian | 7 | $912,000 | $130,000 | $233,000 | $53,000 | $147,000 |
| American Indian or Alaskan Native | 6 | $500,000 | $83,000 | $200,000 | $61,000 | $118,000 |
| Hispanic | 5 | $403,000 | $80,000 | $140,000 | $45,000 | $64,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $103,000 | $103,000 | $103,000 | $48,000 | $48,000 |
| Black or African American | 1 | $65,000 | $65,000 | $65,000 | $56,000 | $56,000 |
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) | 1,574 | $215,603,000 | $136,000 | $2,900,000 | $85,000 | $870,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 80 | $8,621,000 | $107,000 | $251,000 | $43,000 | $83,000 |
| FHA-insured (Federal Housing Administration) | 8 | $1,203,000 | $150,000 | $236,000 | $67,000 | $119,000 |
| VA-guaranteed (Veterans Administration) | 5 | $681,000 | $136,000 | $336,000 | $59,000 | $111,000 |
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 | 1,279 | $169,438,000 | $132,000 | $2,900,000 | $86,000 | $870,000 |
| Application Denied By Financial Institution | 177 | $26,750,000 | $151,000 | $2,164,000 | $62,000 | $466,000 |
| Application Approved But Not Accepted | 96 | $14,362,000 | $149,000 | $1,236,000 | $82,000 | $343,000 |
| Application Withdrawn By Applicant | 75 | $10,489,000 | $139,000 | $417,000 | $77,000 | $350,000 |
| Preapproval Denied by Financial Institution | 34 | $3,997,000 | $117,000 | $400,000 | $49,000 | $120,000 |
| File Closed For Incompleteness | 5 | $936,000 | $187,000 | $417,000 | $112,000 | $207,000 |
| Loan Purchased By The Institution | 1 | $136,000 | $136,000 | $136,000 | $91,000 | $91,000 |
| 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 | 91 | $9,988,000 | $109,000 | $400,000 | $55,000 | $165,000 |
| Debt-To-Income Ratio | 68 | $13,188,000 | $193,000 | $2,164,000 | $61,000 | $466,000 |
| Collateral | 34 | $5,198,000 | $152,000 | $350,000 | $76,000 | $380,000 |
| Employment History | 9 | $1,214,000 | $134,000 | $236,000 | $39,000 | $82,000 |
| Unverifiable Information | 4 | $549,000 | $137,000 | $173,000 | $75,000 | $120,000 |
| Other | 2 | $237,000 | $118,000 | $130,000 | $44,000 | $57,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $193,000 | $193,000 | $193,000 | $40,000 | $40,000 |
| Mortgage Insurance Denied | 1 | $100,000 | $100,000 | $100,000 | $69,000 | $69,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Frandsen Bank & Trust's 2013 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.
Mortgage lenders & HMDA data by state: Alabama · Alaska · Arizona · Arkansas · California · Colorado · Connecticut · Delaware · District of Columbia · Florida · Georgia · Hawaii · Idaho · Illinois · Indiana · Iowa · Kansas · Kentucky · Louisiana · Maine · Maryland · Massachusetts · Michigan · Minnesota · Mississippi · Missouri · Montana · Nebraska · Nevada · New Hampshire · New Jersey · New Mexico · New York · North Carolina · North Dakota · Ohio · Oklahoma · Oregon · Pennsylvania · Puerto Rico · Rhode Island · South Carolina · South Dakota · Tennessee · Texas · Utah · Vermont · Virginia · Washington · West Virginia · Wisconsin · Wyoming
Home · Mortgage lenders A–Z · Data downloads · Blog · About