Senior Mortgage Loan Officer

American Heritage National Bank•Wayzata, MN

2d•$70,000 - $90,000

About The Position

Compensation Base salary: $70,000-$90,000 annually (non-recoverable, depending on experience, qualifications, and production history; good-faith estimate based on the role's requirements). Commission: Uncapped, tiered commission on annual funded secondary market origination volume, paid monthly ESSENTIAL RESPONSIBILITIES Achieve and exceed annual secondary market origination targets (e.g., $20M+) by sourcing, structuring, and closing high-quality retail mortgage loans; optimize profitability through strategic pricing, product selection, and fee generation. Prospect and cultivate a robust pipeline of quality borrowers and referral sources (realtors, builders, financial advisors, existing bank clients) in the Wayzata and greater Twin Cities area; actively network and cross-refer opportunities to other bank departments. Interview and counsel applicants on mortgage options; analyze financial profiles (income, assets, debts, credit, employment) to determine eligibility, assess risk, and recommend tailored financing solutions aligned with investor guidelines and bank policies. Negotiate loan terms, prepare and present credit packages for approval (exercising delegated authority where applicable or escalating as needed), and ensure timely completion of documentation and financial tracking. Conduct advanced pre-underwriting and credit/property analysis: review credit files, appraisals, automated underwriting reports, LTV, DTI, and supporting documents to confirm compliance with FNMA, FHLMC, FHA, VA, RD, and bank standards; issue pre-qualifications, approvals, or conditions promptly. Manage the full loan lifecycle: collaborate with processors, underwriters, and closers to resolve issues, expedite documentation, maintain pipeline velocity, and deliver timely, compliant closings with minimal exceptions. Proactively identify and mitigate potential problem loans early to safeguard bank profitability and asset quality. Maintain expert, up-to-date knowledge of secondary market products, in-house options, regulatory requirements (RESPA, HMDA, ECOA, Fair Lending, etc.), and investor guidelines; provide accurate counseling to applicants and communicate changes to internal teams. Support quality control and risk management: review applications, input sheets, and closed documents for accuracy and compliance; recommend procedural improvements or training to minimize audit/exam exceptions. Foster the bank's relationship banking culture through superior client service, ongoing contact, and deep product knowledge; contribute to department and institutional goals. Other Essential Duties Ensure accurate setup and maintenance of loans in the bank's core origination system; keep files (electronic/paper) organized, professional, and audit-ready. Monitor post-closing processes and workflows for ongoing compliance with federal/investor standards; assist in developing enhancements to reduce risk. Participate in community and networking events to promote homeownership and bank services. OTHER RESPONSIBILITIES Responsibilities include the following: 1) adhering to and complying with all applicable, federal and state laws, regulations and guidance, including those related to Anti-Money Laundering (i.e. Bank Secrecy Act, USA PATRIOT Act, etc.), 2) adhering to Bank policies and procedures, 3) completing required training, 4) identifying and reporting potential suspicious activity to the BSA/AML Officer, and 5) knowing and verifying the identity of any customer(s) that enters into a relationship with the Bank. Informs supervisor of important matters which must be known to effectively manage department operations. Adheres to the values of the mission statement, which in turn will prove a base of shared values for everyone who works within the organization. Follows self-development and participates in educational programs to increase skills and knowledge in lending, policies, programs, and systems. Develops and maintains good working knowledge of job responsibilities and procedures, which facilitates efficient performance of duties. Contributes to a favorable working climate within the organization through a friendly and cooperative attitude and exhibiting good teamwork skills. Willingly assists others as necessary to keep work current, meet deadlines, and spread workload equally. Offers flexibility in covering vacations and other absences. Handles customers and outside contacts in a friendly, pleasant, professional manner, which enhances a favorable image of the organization.. SUPERVISORY RESPONSIBILITIES This job has no supervisory responsibilities. WORK ENVIRONMENT The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The work environment is typical of an office and does not require exposure to difficult or hazardous conditions. The noise level in the work environment is usually quiet. FULL-TIME BENEFITS Medical Dental H.S.A, and F.S.A Life Insurance Long Term Disability MN PD Leave Supplemental Insurance 401K Paid Time Off Holidays-6 Paid Requirements QUALIFICATIONS Active NMLS registration in good standing (or ability to obtain/transfer). 5+ years of progressive mortgage origination experience, with a proven track record in secondary market residential lending (conventional/jumbo preferred). Demonstrated ability to originate $15M+ annually (ideally $20M+) with strong profitability and low exceptions. In-depth knowledge of underwriting guidelines, secondary market investors (FNMA/FHLMC, FHA/VA/RD), and federal/state compliance regulations. Strong analytical, negotiation, communication, and relationship-building skills; ability to handle complex files independently. Proficiency in mortgage origination software, Microsoft Office, and financial analysis tools. Bachelor's degree in business, finance, or related field preferred. Local market knowledge of the Wayzata/Minnetonka area (affluent clients, lakefront/jumbo properties) highly desirable. LANGUAGE SKILLS Ability to read and interpret documents such as safety rules, operating and maintenance instructions, and procedure manuals. Ability to write routine reports and correspondence. Ability to speak effectively before groups of customers or employees of organization. MATHEMATICAL SKILLS Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference and volume. REASONING ABILITY Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form. PHYSICAL DEMANDS The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to sit; use hands to finger, handle, or feel; reach with hands and arms; and talk or hear. The employee is occasionally required to stand and walk. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, and ability to adjust focus.

Requirements

Active NMLS registration in good standing (or ability to obtain/transfer).
5+ years of progressive mortgage origination experience, with a proven track record in secondary market residential lending (conventional/jumbo preferred).
Demonstrated ability to originate $15M+ annually (ideally $20M+) with strong profitability and low exceptions.
In-depth knowledge of underwriting guidelines, secondary market investors (FNMA/FHLMC, FHA/VA/RD), and federal/state compliance regulations.
Strong analytical, negotiation, communication, and relationship-building skills; ability to handle complex files independently.
Proficiency in mortgage origination software, Microsoft Office, and financial analysis tools.
Ability to read and interpret documents such as safety rules, operating and maintenance instructions, and procedure manuals.
Ability to write routine reports and correspondence.
Ability to speak effectively before groups of customers or employees of organization.
Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference and volume.
Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists.
Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.
While performing the duties of this job, the employee is regularly required to sit; use hands to finger, handle, or feel; reach with hands and arms; and talk or hear.
The employee is occasionally required to stand and walk.
The employee must occasionally lift and/or move up to 25 pounds.
Specific vision abilities required by this job include close vision, distance vision, and ability to adjust focus.

Nice To Haves

Bachelor's degree in business, finance, or related field preferred.
Local market knowledge of the Wayzata/Minnetonka area (affluent clients, lakefront/jumbo properties) highly desirable.

Responsibilities

Achieve and exceed annual secondary market origination targets (e.g., $20M+) by sourcing, structuring, and closing high-quality retail mortgage loans; optimize profitability through strategic pricing, product selection, and fee generation.
Prospect and cultivate a robust pipeline of quality borrowers and referral sources (realtors, builders, financial advisors, existing bank clients) in the Wayzata and greater Twin Cities area; actively network and cross-refer opportunities to other bank departments.
Interview and counsel applicants on mortgage options; analyze financial profiles (income, assets, debts, credit, employment) to determine eligibility, assess risk, and recommend tailored financing solutions aligned with investor guidelines and bank policies.
Negotiate loan terms, prepare and present credit packages for approval (exercising delegated authority where applicable or escalating as needed), and ensure timely completion of documentation and financial tracking.
Conduct advanced pre-underwriting and credit/property analysis: review credit files, appraisals, automated underwriting reports, LTV, DTI, and supporting documents to confirm compliance with FNMA, FHLMC, FHA, VA, RD, and bank standards; issue pre-qualifications, approvals, or conditions promptly.
Manage the full loan lifecycle: collaborate with processors, underwriters, and closers to resolve issues, expedite documentation, maintain pipeline velocity, and deliver timely, compliant closings with minimal exceptions.
Proactively identify and mitigate potential problem loans early to safeguard bank profitability and asset quality.
Maintain expert, up-to-date knowledge of secondary market products, in-house options, regulatory requirements (RESPA, HMDA, ECOA, Fair Lending, etc.), and investor guidelines; provide accurate counseling to applicants and communicate changes to internal teams.
Support quality control and risk management: review applications, input sheets, and closed documents for accuracy and compliance; recommend procedural improvements or training to minimize audit/exam exceptions.
Foster the bank's relationship banking culture through superior client service, ongoing contact, and deep product knowledge; contribute to department and institutional goals.
Ensure accurate setup and maintenance of loans in the bank's core origination system; keep files (electronic/paper) organized, professional, and audit-ready.
Monitor post-closing processes and workflows for ongoing compliance with federal/investor standards; assist in developing enhancements to reduce risk.
Participate in community and networking events to promote homeownership and bank services.
Adhering to and complying with all applicable, federal and state laws, regulations and guidance, including those related to Anti-Money Laundering (i.e. Bank Secrecy Act, USA PATRIOT Act, etc.)
Adhering to Bank policies and procedures
Completing required training
Identifying and reporting potential suspicious activity to the BSA/AML Officer
Knowing and verifying the identity of any customer(s) that enters into a relationship with the Bank.
Informs supervisor of important matters which must be known to effectively manage department operations.
Adheres to the values of the mission statement, which in turn will prove a base of shared values for everyone who works within the organization.
Follows self-development and participates in educational programs to increase skills and knowledge in lending, policies, programs, and systems.
Develops and maintains good working knowledge of job responsibilities and procedures, which facilitates efficient performance of duties.
Contributes to a favorable working climate within the organization through a friendly and cooperative attitude and exhibiting good teamwork skills. Willingly assists others as necessary to keep work current, meet deadlines, and spread workload equally. Offers flexibility in covering vacations and other absences.
Handles customers and outside contacts in a friendly, pleasant, professional manner, which enhances a favorable image of the organization.