Minnesota Lending Co LLC Mortgage Lending & HMDA Data, 2007
In 2007, Minnesota Lending Co LLC of St. Louis Park, MN reported 221 mortgage applications totaling $40.5 million. The average application was for $183,380, and applicants reported an average income of $78,574. 93% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (137), Chicago-Naperville-Joliet, IL (5) and Eau Claire, WI (5) (applications in parentheses).
| Mortgage Company & Address | Minnesota Lending Co LLC 6465 Wayzata Blvd, Suite #300 St. Louis Park, MN 55426 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 |
| Total Number of Mortgage Applications | 221 |
| Total Mortgage Loan Application Amount | $40,527,000 |
| Average Mortgage Loan Application Amount | $183,380 |
| Highest Mortgage Loan Application Amount | $1,275,000 |
| Average Applicant Income | $78,574 |
| Highest Applicant Income | $688,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Minnesota Lending Co LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Minneapolis-St. Paul-Bloomington, MN-WI | 137 | $ 26,828,000 | $ 195,824 | $ 88,350 |
| Chicago-Naperville-Joliet, IL | 5 | $ 927,000 | $ 185,400 | $ 104,000 |
| Eau Claire, WI | 5 | $ 578,000 | $ 115,600 | $ 47,000 |
| Orlando-Kissimmee, FL | 4 | $ 1,002,000 | $ 250,500 | $ 56,000 |
| St. Cloud, MN | 4 | $ 587,000 | $ 146,750 | $ 50,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 3 | $ 338,000 | $ 112,666 | $ 73,000 |
| Milwaukee-Waukesha-West Allis, WI | 3 | $ 512,000 | $ 170,666 | $ 59,000 |
| Naples-Marco Island, FL | 3 | $ 1,272,000 | $ 424,000 | $ 0 |
| Rochester, MN | 3 | $ 436,000 | $ 145,333 | $ 58,000 |
| Cape Coral-Fort Myers, FL | 2 | $ 421,000 | $ 210,500 | $ 26,000 |
| Janesville, WI | 2 | $ 238,000 | $ 119,000 | $ 52,000 |
| Sarasota-Bradenton-Venice, FL | 2 | $ 170,000 | $ 85,000 | $ 127,000 |
| Dallas-Plano-Irving, TX | 1 | $ 97,000 | $ 97,000 | $ 53,000 |
| Duluth, MN-WI | 1 | $ 167,000 | $ 167,000 | $ 112,000 |
| Fargo, ND-MN | 1 | $ 165,000 | $ 165,000 | $ 71,000 |
| Lake County-Kenosha County, IL-WI | 1 | $ 145,000 | $ 145,000 | $ 141,000 |
| Ocala, FL | 1 | $ 417,000 | $ 417,000 | $ 365,000 |
| Phoenix-Mesa-Scottsdale, AZ | 1 | $ 260,000 | $ 260,000 | $ 125,000 |
| Racine, WI | 1 | $ 145,000 | $ 145,000 | $ 66,000 |
| Sioux Falls, SD | 1 | $ 90,000 | $ 90,000 | $ 120,000 |
Mortgage Loan Application Detail Totals for Minnesota Lending Co LLC in 2007
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 | 116 | $19,754,000 | $170,000 | $650,000 | $80,000 | $420,000 |
| Refinancing | 105 | $20,773,000 | $197,000 | $1,275,000 | $77,000 | $688,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 178 | $31,717,000 | $178,000 | $1,275,000 | $78,000 | $688,000 |
| Black or African American | 18 | $3,277,000 | $182,000 | $281,000 | $69,000 | $160,000 |
| Not Provided | 17 | $3,737,000 | $219,000 | $560,000 | $101,000 | $420,000 |
| Asian | 5 | $1,149,000 | $229,000 | $372,000 | $63,000 | $72,000 |
| Hispanic | 3 | $647,000 | $215,000 | $285,000 | $38,000 | $68,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 111 | $22,399,000 | $201,000 | $1,275,000 | $93,000 | $688,000 |
| FHA-insured (Federal Housing Administration) | 108 | $17,743,000 | $164,000 | $281,000 | $60,000 | $160,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $137,000 | $137,000 | $137,000 | $420,000 | $420,000 |
| VA-guaranteed (Veterans Administration) | 1 | $248,000 | $248,000 | $248,000 | $59,000 | $59,000 |
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 | 206 | $37,579,000 | $182,000 | $1,275,000 | $79,000 | $688,000 |
| Application Withdrawn By Applicant | 9 | $1,686,000 | $187,000 | $273,000 | $88,000 | $385,000 |
| Application Denied By Financial Institution | 6 | $1,262,000 | $210,000 | $535,000 | $52,000 | $93,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 4 | $1,033,000 | $258,000 | $535,000 | $66,000 | $93,000 |
| Debt-To-Income Ratio | 1 | $171,000 | $171,000 | $171,000 | $23,000 | $23,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $58,000 | $58,000 | $58,000 | $25,000 | $25,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 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 Minnesota Lending Co LLC's 2007 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 Minnesota Lending Co LLC'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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