Frandsen Bank & Trust Mortgage Lending & HMDA Data, 2006
In 2006, Frandsen Bank & Trust of Lonsdale, MN reported 207 mortgage applications totaling $17.7 million. The average application was for $85,589, and applicants reported an average income of $66,115. 88% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (30) and St. Cloud, MN (29).
| 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 | 207 |
| Total Mortgage Loan Application Amount | $17,717,000 |
| Average Mortgage Loan Application Amount | $85,589 |
| Highest Mortgage Loan Application Amount | $400,000 |
| Average Applicant Income | $66,115 |
| Highest Applicant Income | $1,080,000 |
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(HMDA) records Frandsen Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Frandsen Bank & Trust in 2006
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 |
|---|---|---|---|---|---|---|
| Home Purchase | 85 | $8,985,000 | $105,000 | $352,000 | $77,000 | $1,080,000 |
| Refinancing | 79 | $7,134,000 | $90,000 | $400,000 | $61,000 | $191,000 |
| Home Improvement | 43 | $1,598,000 | $37,000 | $272,000 | $54,000 | $138,000 |
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 | 202 | $17,186,000 | $85,000 | $400,000 | $67,000 | $1,080,000 |
| Not applicable | 2 | $295,000 | $147,000 | $250,000 | $21,000 | $43,000 |
| Not Provided | 1 | $12,000 | $12,000 | $12,000 | $13,000 | $13,000 |
| American Indian or Alaskan Native | 1 | $219,000 | $219,000 | $219,000 | $140,000 | $140,000 |
| Hispanic | 1 | $5,000 | $5,000 | $5,000 | $26,000 | $26,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 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) | 201 | $17,300,000 | $86,000 | $400,000 | $67,000 | $1,080,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 4 | $288,000 | $72,000 | $94,000 | $28,000 | $39,000 |
| FHA-insured (Federal Housing Administration) | 2 | $129,000 | $64,000 | $70,000 | $33,000 | $34,000 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 183 | $15,794,000 | $86,000 | $400,000 | $69,000 | $1,080,000 |
| Application Denied By Financial Institution | 16 | $992,000 | $62,000 | $272,000 | $33,000 | $71,000 |
| Application Withdrawn By Applicant | 5 | $551,000 | $110,000 | $296,000 | $58,000 | $149,000 |
| Application Approved But Not Accepted | 3 | $380,000 | $126,000 | $200,000 | $62,000 | $77,000 |
| 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 |
| Preapproval Denied by Financial Institution | 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 | 9 | $594,000 | $66,000 | $272,000 | $36,000 | $71,000 |
| Debt-To-Income Ratio | 5 | $255,000 | $51,000 | $116,000 | $31,000 | $59,000 |
| Employment History | 2 | $143,000 | $71,000 | $95,000 | $25,000 | $30,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Frandsen Bank & Trust's 2006 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