Commercial Real Estate (CRE) - Senior Underwriter
About The Position
The Commercial Real Estate Senior Underwriter manages portfolio risk by ensuring credit actions are timely and accurate, advising on credit structure and risk-rating decisions, and participating in pre-flight discussions. The role coordinates with Credit, Loan Administration, and other groups to promote consistent, high-quality credit documents and streamline work across underwriting, credit approval, and loan administration. The position underwrites new originations and portfolio exposures across a broad range of CRE asset classes, analyzes borrowers and properties, prepares written credit analyses, and supports transactions ranging from refinancings and existing-property deals to ground-up construction projects. It also supports assigned client portfolios through financial spreading, trend analysis, covenant testing, compliance monitoring, quarterly reviews, and identification of emerging risks. The Senior Underwriter collaborates with Relationship Managers, Portfolio Managers, Credit Approvers, and internal risk partners, and may participate in client bank meetings. The role is based in Newport Beach or Los Angeles, California, and requires working from a U.S. Bank location at least three days per week.
Requirements
- Bachelor's degree or equivalent work experience.
- Five or more years of commercial lending experience.
Nice To Haves
- Strong CRE underwriting foundation across multiple property types, including cash flow, valuation, sponsor analysis, structure, and covenants.
- Experience authoring credit memoranda and presenting key risks, mitigants, and recommendations to approval committees.
- Strong analytical and technical writing skills, including the ability to translate complex sponsor, tenant, and technical diligence into clear credit narratives.
- Strong verbal and written communication skills and ability to collaborate across origination, portfolio management, credit risk, and technical advisors.
- Ability to independently drive analyses while partnering closely with Relationship Managers, Portfolio Managers, and Credit Approvers.
- Familiarity with banking credit policy, loan documentation concepts, and CRE underwriting processes, including construction, bridge, term, and portfolio facilities.
- Advanced proficiency in Microsoft Excel for cash flow modeling and scenario analysis, and proficiency with the broader Microsoft Office Suite.
- Experience with nCino, CoStar, and/or other CRE platforms.
Responsibilities
- Underwrite new originations and portfolio exposures across a broad range of commercial real estate asset classes.
- Analyze borrower financials, property cash flows, collateral valuation, sponsor strength, covenant sensitivities, and market conditions.
- Prepare clear, comprehensive written credit analyses and supporting documentation.
- Execute straightforward credit requests for existing clients with limited supervision.
- Assist with annual company-wide credit reviews for clients with multiple property holdings, including properties not financed by the bank.
- Support existing-property transactions, including refinancings, and ground-up construction projects.
- Monitor construction budgets and review monthly construction draws through project completion.
- Assist with new deal originations, including evaluating transactions typically sized at $50 million to $100 million, with select deals up to $750 million.
- Participate in preparing and negotiating term sheets, as applicable.
- Support Relationship Managers and Portfolio Managers in managing an assigned portfolio of commercial real estate client relationships.
- Spread borrower financial statements accurately and consistently in accordance with bank standards and credit policies.
- Prepare quarterly trend analyses, monitoring reports, and covenant compliance testing.
- Maintain compliance-monitoring and financial-reporting databases, including tracking credit agreement requirements, borrower financial receipts, and key credit metrics.
- Participate in quarterly portfolio reviews, including analysis of operating statements, rent rolls, and risk assessments.
- Identify and communicate emerging risks, mitigants, and other transaction- and portfolio-level issues.
- Collaborate with Credit Approvers and internal risk partners.
- Participate in client bank meetings as needed to support underwriting, portfolio management, and risk discussions.
- Serve as a first line of credit analysis and escalate issues appropriately.
Benefits
- Healthcare, including medical, dental, and vision coverage.
- Basic term and optional term life insurance.
- Short-term and long-term disability insurance.
- Pregnancy disability and parental leave.
- 401(k) and employer-funded retirement plan.
- Paid vacation of two to five weeks depending on salary grade and tenure.
- Up to 11 paid holiday opportunities.
- Adoption assistance.
- Sick and Safe Leave accruals of one hour for every 30 hours worked, up to 80 hours per calendar year unless otherwise provided by law.
- Incentive and recognition programs.
- Equity stock purchase plan.
- Pension.
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What This Job Offers
Job Type
Full-time
Career Level
Senior
