In 2010, lenders reported 485 mortgage applications in Redwood County, MN totaling $48.1 million, down 5% from 2009. The average application was for $99,000, and applicants reported an average income of $59,000. 44% of applications resulted in an originated loan and 17% were denied. The most active lender was Wells Fargo Bank, NA, with 59 applications, followed by JPMorgan Chase Bank, NA and Minnwest Mortgage Corporation.
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| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 485 |
| Total Mortgage Loan Application Amount | $48,117,000 |
| Average Mortgage Loan Application Amount | $99,000 |
| Highest Mortgage Loan Application Amount | $349,000 |
| Average Applicant Income | $59,000 |
| Highest Applicant Income | $761,000 |
| Mortgage Lender | Phone Number | Mortgage Lender Assets | Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications |
|---|---|---|---|---|
| Wells Fargo Bank, NA 100 N MAIN STREET MAC D4001-063 WINSTON-SALEM, NC 27150 |
* | $ 608,778,000,000 | 59 | $ 6,167,000 |
| JPMorgan Chase Bank, NA 1111 POLARIS PARKWAY COLUMBUS, OH 43240 |
* | $ 1,627,684,000,000 | 53 | $ 5,818,000 |
| Minnwest Mortgage Corporation 5324 EAST ARROWHEAD PKY, SUITE 102 SIOUX FALLS, SD 57110 |
* | $ 1,751,723,000 | 48 | $ 5,712,000 |
| Bank of America, N.A. 4500 PARK GRANADA CALABASAS, CA 91302 |
* | $ 1,465,221,449,000 | 45 | $ 5,074,000 |
| Hometown Bank 1000 COOK STREET REDWOOD FALLS, MN 56283 |
* | $ 179,143,000 | 42 | $ 4,796,000 |
| Minnwest Bank 300 S WASHINGTON REDWOOD FALLS, MN 56283 |
* | $ 531,058,000 | 38 | $ 1,683,000 |
| US Bank, N.A. 777 EAST WISCONSIN AVE MILWAUKEE, WI 53202 |
* | $ 276,376,130,000 | 27 | $ 3,317,000 |
| Citimortgage, Inc 601 LEXINGTON AVENUE, 20TH FLOOR NEW YORK, NY 10022 |
* | $ 1,019,497,000,000 | 22 | $ 2,623,000 |
| Integrity Bank Plus PO BOX 119 WABASSO, MN 56293 |
* | $ 46,966,000 | 13 | $ 416,000 |
| US Bank North Dakota 777 EAST WISCONSIN AVE MILWAUKEE, WI 53202 |
* | $ 5,122,657,000 | 12 | $ 751,000 |
| Wells Federal Bank 53 1ST ST SW WELLS, MN 56097 |
* | $ 265,233,000 | 12 | $ 962,000 |
| Wells Fargo Funding, Inc 100 N MAIN STREEET MAC D4001-063 WINSTON-SALEM, NC 27150 |
* | $ 25,457,000 | 10 | $ 1,236,000 |
| Embrace Home Loans, Inc. 25 ENTERPRISE CENTER MIDDLETOWN, RI 02842 |
* | $ 10,000,000 | 7 | $ 860,000 |
| First National Bank 2457 BROADWAY AVENUE SLAYTON, MN 56172 |
* | $ 177,420,000 | 6 | $ 219,000 |
| Ally Bank F/K/A/ Gmac Bank 1100 VIRGINIA DRIVE FT. WASHINGTON, PA 19034 |
* | $ 55,302,902,000 | 5 | $ 553,000 |
| Bank of the West 1977 SATURN STREET MS SC-MPK-03-N MONTEREY PARK, CA 91755 |
* | $ 60,000,590,000 | 5 | $ 145,000 |
| New Day Financial, Llc. 360 SOUTH ROSEMARY AVENUE SUITE 1900 WEST PALM BEACH, FL 33401 |
* | $ 4,088,336,000 | 5 | $ 581,000 |
| Gmac Mortgage LLC 1100 VIRGINIA DRIVE FT. WASHINGTON, PA 19034 |
* | $ 31,000,000 | 5 | $ 537,000 |
| State Farm Bank 1 STATE FARM PLAZA BLOOMINGTON, IL 61710 |
* | $ 16,157,711,000 | 4 | $ 456,000 |
| Suntrust Mortgage, Inc 901 SEMMES AVENUE RICHMOND, VA 23224 |
* | $ 164,340,844,000 | 4 | $ 357,000 |
| Fifth Third Mortgage Company 5001 KINGSLEY DRIVE MD 1MOB2W CINCINNATI, OH 45227 |
* | $ 112,736,105,000 | 3 | $ 360,000 |
| Ing Bank, FSB 1 SOUTH ORANGE STREET WILMINGTON, DE 19801 |
* | $ 90,293,933,000 | 3 | $ 279,000 |
| Frandsen Bank & Trust 116 CENTRAL STREET WEST LONSDALE, MN 55046 |
* | $ 739,711,000 | 3 | $ 113,000 |
| Reliance First Capital, LLC 201 OLD COUNTRY ROAD SUITE 205 MELVILLE, NY 11747 |
* | $ 100,000,000 | 3 | $ 507,000 |
| American Equity Mortgage, Inc. 11933 WESTLINE INDUSTRIAL DRIVE SAINT LOUIS, MO 63146 |
* | $ 10,000,000 | 3 | $ 449,000 |
| PHH Mortgage Corporation WEST PALM BEACH, FL 33409 |
* | $ 31,000,000 | 2 | $ 153,000 |
| Lendsource Inc 12701 WHITEWATER DR STE 340 MINNETONKA, MN 55343 |
* | $ 10,000,000 | 2 | $ 202,000 |
| Wealthbridge Mortgage Corp. 15455 NW GREENBRIER PKWY, STE. 111 BEAVERTON, OR 97006 |
* | $ 10,000,000 | 2 | $ 238,000 |
| M&I Bank FSB W57N14280 DOERR WAY CEDARBURG, WI 53012 |
* | $ 1,834,445,000 | 2 | $ 218,000 |
| USAA Federal Savings Bank 10750 MCDERMOTT FREEWAY SAN ANTONIO, TX 78288 |
* | $ 37,922,355,000 | 2 | $ 183,000 |
| Hiway Credit Union 111 EMPIRE DRIVE SAINT PAUL, MN 55103 |
* | $ 846,129,000 | 2 | $ 80,000 |
| First State Mortgage Services 502 N HERSHEY ROAD BLOOMINGTON, IL 61704 |
* | $ 327,995,000 | 2 | $ 292,000 |
| Citifinancial Services Inc 300 ST PAUL PLACE BALTIMORE, MD 21202 |
* | $ 1,494,037,000,000 | 2 | $ 36,000 |
| M&I Marshall & Ilsley Bank W57N14280 DOERR WAY CEDARBURG, WI 53012 |
* | $ 50,253,578,000 | 1 | $ 35,000 |
| PNC Bank N.A. 249 FIFTH AVE. MS P1-POPP-22-2 PITTSBURGH, PA 15222 |
* | $ 260,309,849,000 | 1 | $ 158,000 |
| Citizens Community Federal PO BOX 218 ALTOONA, WI 54720 |
* | $ 566,651,000 | 1 | $ 27,000 |
| Tcf National Bank 2508 LOUISE AVE S (002-01-P) SIOUX FALLS, SD 57106 |
* | $ 17,921,579,000 | 1 | $ 85,000 |
| Metlife Bank, N.A. 334 MADISON AVENUE CONVENT STATION, NJ 07961 |
* | $ 14,106,965,000 | 1 | $ 40,000 |
| Midfirst Bank 501 NW GRAND BLVD. OKLAHOMA CITY, OK 73118 |
* | $ 12,817,999,000 | 1 | $ 50,000 |
| Home Federal Bank P.O. BOX 5000 SIOUX FALLS, SD 57117 |
* | $ 1,172,597,000 | 1 | $ 81,000 |
| Midcountry Bank 2611 BLUE HERON DR. MARION, IL 62959 |
* | $ 852,055,000 | 1 | $ 95,000 |
| Citizens Bank Minnesota 105 NORTH MINNESOTA STREET NEW ULM, MN 56073 |
* | $ 271,051,000 | 1 | $ 30,000 |
| Northview Bank 510 MAIN STREET SANDSTONE, MN 55072 |
* | $ 164,190,000 | 1 | $ 130,000 |
| Alliance Bank 105 EAST LYON AVE LAKE CITY, MN 55041 |
* | $ 692,953,000 | 1 | $ 96,000 |
| Affinity Plus Federal Credit Union 175 WEST LAFAYETTE FRONTAGE ROAD SAINT PAUL, MN 55107 |
* | $ 1,342,381,000 | 1 | $ 57,000 |
| Central Minnesota CU 20 S 4TH AVE E MELROSE, MN 56352 |
* | $ 530,367,000 | 1 | $ 104,000 |
| First Residential Mortgage 9721 ORMSBY STATION RD. LOUISVILLE, KY 40223 |
* | $ 10,000,000 | 1 | $ 170,000 |
| PHH Home Loans, LLC 1 MORTGAGE WAY 2ND FLOOR MT LAUREL, NJ 08054 |
* | $ 4,597,939,000 | 1 | $ 102,000 |
| Gmfs, LLC 7389 FLORIDA BLVD, STE 200-A BATON ROUGE, LA 70806 |
* | $ 10,000,000 | 1 | $ 91,000 |
| Everett Financial Inc. 14801 QUORUM DR SUITE 300 DALLAS, TX 75254 |
* | $ 3,642,000 | 1 | $ 58,000 |
| Home Loan Center 163 TECHNOLOGY DRIVE IRVINE, CA 92618 |
* | $ 10,000,000 | 1 | $ 106,000 |
| Mortgage Investors Corp 6090 CENTRAL AVE ST. PETERSBURG, FL 33707 |
* | $ 10,000,000 | 1 | $ 83,000 |
| Servion 500 MAIN STREET NEW BRIGHTON, MN 55112 |
* | $ 250,000,000 | 1 | $ 49,000 |
| Rescue Mortgage Inc 10740 LYNDALE AVE S, SUITE 19E BLOOMINGTON, MN 55420 |
* | $ 1,507,000 | 1 | $ 100,000 |
| Nationwide Advantage Mortgage 1100 LOCUST ST DES MOINES, IA 50391 |
* | $ 31,000,000 | 1 | $ 86,000 |
| Nationstar Mortgage 8950 CYPRESS WATERS BLVD. COPPELL, TX 75019 |
* | $ 10,000,000 | 1 | $ 78,000 |
| River City Mortgage and Financ 5001 AMERICAN BLVD SUITE 1000 BLOOMINGTON, MN 55437 |
* | $ 10,000,000 | 1 | $ 52,000 |
| Franklin American Mortgage Co 501 CORPORATE CENTRE DRIVE, SUITE 400 FRANKLIN, TN 37067 |
* | $ 10,000,000 | 1 | $ 230,000 |
The tables below break down 2010 mortgage applications in Redwood County, MN by loan purpose, applicant race, loan type, outcome and denial reason. Click a column heading to sort.
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 | 337 | $37,261,000 | $110,000 | $328,000 | $66,000 | $761,000 |
| Home Purchase | 117 | $10,087,000 | $86,000 | $349,000 | $45,000 | $209,000 |
| Home Improvement | 31 | $769,000 | $24,000 | $85,000 | $44,000 | $94,000 |
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 | 389 | $37,830,000 | $97,000 | $349,000 | $64,000 | $761,000 |
| Not applicable | 41 | $5,087,000 | $124,000 | $325,000 | $15,000 | $120,000 |
| Not Provided | 27 | $2,815,000 | $104,000 | $229,000 | $47,000 | $129,000 |
| American Indian or Alaskan Native | 14 | $1,549,000 | $110,000 | $254,000 | $87,000 | $209,000 |
| Asian | 9 | $575,000 | $63,000 | $139,000 | $48,000 | $203,000 |
| Hispanic | 4 | $170,000 | $42,000 | $74,000 | $50,000 | $82,000 |
| Black or African American | 1 | $91,000 | $91,000 | $91,000 | $31,000 | $31,000 |
| 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) | 344 | $33,866,000 | $98,000 | $349,000 | $65,000 | $761,000 |
| FHA-insured (Federal Housing Administration) | 112 | $11,116,000 | $99,000 | $259,000 | $48,000 | $624,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 15 | $1,052,000 | $70,000 | $102,000 | $31,000 | $53,000 |
| VA-guaranteed (Veterans Administration) | 14 | $2,083,000 | $148,000 | $230,000 | $50,000 | $99,000 |
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 | 215 | $19,023,000 | $88,000 | $328,000 | $61,000 | $273,000 |
| Loan Purchased By The Institution | 125 | $14,773,000 | $118,000 | $328,000 | $46,000 | $178,000 |
| Application Denied By Financial Institution | 84 | $8,142,000 | $96,000 | $259,000 | $61,000 | $624,000 |
| Application Withdrawn By Applicant | 42 | $4,158,000 | $99,000 | $265,000 | $68,000 | $761,000 |
| Application Approved But Not Accepted | 13 | $1,460,000 | $112,000 | $349,000 | $68,000 | $174,000 |
| File Closed For Incompleteness | 6 | $561,000 | $93,000 | $170,000 | $169,000 | $761,000 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 21 | $2,241,000 | $106,000 | $248,000 | $63,000 | $144,000 |
| Credit History | 17 | $992,000 | $58,000 | $139,000 | $52,000 | $203,000 |
| Debt-To-Income Ratio | 13 | $1,413,000 | $108,000 | $240,000 | $33,000 | $55,000 |
| Credit Application Incomplete | 4 | $624,000 | $156,000 | $240,000 | $60,000 | $140,000 |
| Other | 4 | $433,000 | $108,000 | $140,000 | $68,000 | $80,000 |
| Unverifiable Information | 2 | $309,000 | $154,000 | $259,000 | $84,000 | $140,000 |
| Employment History | 1 | $12,000 | $12,000 | $12,000 | $34,000 | $34,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $86,000 | $86,000 | $86,000 | $31,000 | $31,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) loan application records that lenders file with the FFIEC each year, and count every application (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
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