Applications / Mortgage Analytics / Lenders / Minnesota / Tradition Mortgage
Lakeville, MN · Independent non-bank lender · CFPB · 1,218 loans in 2025
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1,218
loans originated, 2025
1,229
applications, 2025
6
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Tradition Mortgage, a Minnesota mortgage company, sticks to conventional loans where its rivals lean on government programs, and it grew 15% in 2025.
Conventional loans made up 93.5% of its lending, against 66.8% at similar lenders, independent mortgage companies making between half and twice as many loans. Loans insured by the Federal Housing Administration (FHA) were just 3.4%, against 22.6% at peers. Only 0.6% of its loans were higher-priced (a rate well above the average for similar loans), against 2.2%.
It made 1,218 loans, up 15% from 1,055, while similar lenders grew 2% and the whole market 10%. Purchases were 80.1% of its loans. That is still far below the 5,877 loans it made in 2020.
It ranks 17 of 688 lenders in Minneapolis-St. Paul-Bloomington, with 1.5% of the dollars, the same as in 2024, and has lent there since 2009. Bell Bank and United Wholesale Mortgage lead that market. It also ranks 36 of 536 in non-metro Minnesota.
Only 9.2% of its loans were in low- and moderate-income (LMI) neighborhoods, against 19.1% at similar lenders, and 2.1% in majority-minority neighborhoods, against 28.8%. Both shares are among the lowest tenth of its peers. One possible reason is where it lends: mostly Minnesota, including rural Minnesota and Wisconsin. Its share of borrowers with modest incomes, 26.2%, was near the middle of its peers.
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Tradition Mortgage took 1,229 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 80.1% · Refinance 19.4% · Other 0.5%
Conventional 93.5% · FHA 3.4% · VA 3.0% · of 1,218 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Minnesota | 1,102 | 90.5% |
| Wisconsin | 86 | 7.1% |
| Arizona | 16 | 1.3% |
| Florida | 8 | 0.7% |
| Colorado | 4 | 0.3% |
| Iowa | 2 | 0.2% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Minneapolis-St. Paul-Bloomington | 985 |
| Phoenix-Mesa-Chandler | 15 |
| St. Cloud | 13 |
| Eau Claire | 10 |
| Rochester | 10 |
| Duluth | 8 |
| Cape Coral-Fort Myers | 4 |
| Grand Forks | 4 |
| Madison | 3 |
| Mankato | 3 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 5493007VDBJSG0E0S678 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 4182632 | 2010–2023 |
| Respondent ID (the HMDA filer code before 2018) | 7411925607 |
Established 18 December 1998. Reported under HMDA 2009-2025.
Mergers, name changes, data editions and corrections: Tradition Mortgage's data.
Tradition Mortgage's data
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