Summary
Overview
Work History
Education
Skills
Additional Information
Timeline
Generic

Erik K. Fossum

FINLAYSON,Minnesota

Summary

Performance-driven Vice President - Business Banker seeking to apply expertise gained during 15-year career to a challenging new role. Positive and upbeat with a solid history of closing 100 commercial loans each year worth a combined value of $26,000,000. Proven skills in generating and converting leads into loan customers. Expert salesperson and well-organized administrator with an in-depth understanding of commercial loan processes. Excellent relationship-building and communication skills.

Overview

27
27
years of professional experience

Work History

Vice President - Business Banker

Frandsen Bank And Trust
02.2021 - Current
  • Increased branch revenue by growing both local loans and deposits for the bank.
  • Grew Pine City branch from 15MM in 2021 to over 50MM May of 2024.
  • Managed a pipeline of $40,000,000 in loans at any given time.
  • Managed credit risk exposure to the bank.
  • Continued to develop business banking relationships and referrals from both current and non-bank customers.
  • Security Officer for the Pine City branch.

VP - Lending - Commercial Loan Officer

First National Bank Of Moose Lake
02.2014 - Current
  • Maintained compliance with laws and regulations governing commercial loans.
  • Built trust and promoted customer loyalty throughout underwriting process.
  • Managed a pipeline of $30,000,000 in loans at any given time.
  • Mitigated credit risk exposure to the bank.
  • Senior Secondary Market Underwriter and Manual Underwriting Lead.
  • Developed relationships and actively solicited loan business from both current and non-bank customers.
  • Serve as an advisor and constructive FInancial Critic to the banks customers.

Consumer Loan Underwriter 3

Wells Fargo And Co.
10.2011 - 01.2014
  • Responsible for reviewing, analyzing, approving and underwriting consumer requests within company and industry guidelines.
  • Respond to consumer inquiries and credit decisions ensuring credit files are compliant with company standards and minimize operational risk.
  • Review and explain rational behind credit decisions and mitigating risk.
  • Proficient in DU and LP
  • Underwrite to Fannie Mae and Freddie Mac guidelines

Underwriter Assistant

Wells Fargo And Co.
07.2009 - 10.2011
  • Underwriting authority for processing and clearing to close Conventional loan in compliance with Wells Fargo standards.
  • Working with delegated authority on FHA and AV loans for clearing conditions and prepping the file to close.
  • Provide loan processing support to Account Executives and Brokers by validating the operational risk of loan materials being submitted for processing.

Pre-fund Analyst (Wells Fargo Wholesale)

DasErte Ltd.
03.2009 - 07.2009
  • Execute pre-fund file criteria and document all findings to maximize fraud management.
  • Complete tax documentation retrieval.
  • Perform verbal verification of employment for mortgage applicants.

Owner / Carpenter

Fossum Construction
04.2000 - 03.2009
  • General Contracting Services. (MN License # 20349902)
  • Built or remodeled a variety of projects in the Twin Cities Metro area, Northeastern Minnesota and Western Wisconsin.
  • Proper estimating, scope of work analysis and enjoyable work place for employees, lead to a successful completion of both residential and commercial projects.

General Manager

True North Furnishings
11.1997 - 04.2000
  • Oversaw inventory by ordering precise quantities of stock and executing corrective actions to drive profitability.
  • Managed budget implementations, employee reviews, training, schedules and contract negotiations.
  • increased sales over 50% during my employment.

Education

Bachelor of Arts - BFA

University of Minnesota - Duluth
Duluth, MN
1997

Associate of Arts - Business

Normandale Community College
Minneapolis, MN
1994

Skills

  • Building relationships
  • Commercial and Residential Loans
  • Tax return analyst
  • Risk Mitigation

Additional Information

Board Chairman for Finlayson Township (present)

Board Chairman and Treasurer for Banning Sewer and Water District (present)

Timeline

Vice President - Business Banker

Frandsen Bank And Trust
02.2021 - Current

VP - Lending - Commercial Loan Officer

First National Bank Of Moose Lake
02.2014 - Current

Consumer Loan Underwriter 3

Wells Fargo And Co.
10.2011 - 01.2014

Underwriter Assistant

Wells Fargo And Co.
07.2009 - 10.2011

Pre-fund Analyst (Wells Fargo Wholesale)

DasErte Ltd.
03.2009 - 07.2009

Owner / Carpenter

Fossum Construction
04.2000 - 03.2009

General Manager

True North Furnishings
11.1997 - 04.2000

Bachelor of Arts - BFA

University of Minnesota - Duluth

Associate of Arts - Business

Normandale Community College

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Erik K. Fossum