Commercial Real Estate Senior Underwriter – Housing Capital
About The Position
U.S. Bank’s Housing Capital group is seeking an experienced Commercial Real Estate Senior Underwriter to support a specialized portfolio of large private and regional homebuilders. Housing Capital, a division of Commercial Real Estate, is a leading provider of capital solutions to the U.S. homebuilding industry. This role is suited for a highly experienced CRE underwriting professional with a demonstrated ability to independently analyze complex transactions, apply sound credit judgment, and influence outcomes. The Senior Underwriter serves as a trusted partner to Relationship Managers and internal stakeholders while maintaining a strong focus on disciplined risk management and credit quality. This role also provides informal leadership within the underwriting team, including mentoring junior underwriters and contributing to best practices across the platform.
Requirements
- Bachelor’s degree or equivalent experience
- Seven – ten years of commercial lending
Nice To Haves
- Experience in commercial real estate underwriting
- Advanced knowledge of lending policies and regulatory requirements
- Ability to independently manage complex CRE transactions
- Strong analytical and problem-solving skills
- Leadership ability including mentoring junior staff
- Excellent written and verbal communication skills
- Experience with homebuilder or residential development lending
- Experience with A&D, construction, or borrowing base facilities
- Advanced Excel and Microsoft Office proficiency
- Experience with nCino or similar platforms
- Familiarity with AI-enabled tools
Responsibilities
- Perform comprehensive financial and credit analysis for CRE transactions supporting residential development and homebuilder clients
- Independently underwrite new originations, modifications, renewals, and extensions
- Prepare clear, concise, and well-supported credit memoranda
- Evaluate borrower financial performance, cash flow, liquidity, leverage, and repayment capacity
- Assign and support risk ratings in accordance with credit policy
- Conduct quarterly portfolio reviews including covenant analysis
- Analyze borrower reporting including sales activity and development progress
- Monitor project performance and identify emerging risks
- Perform covenant compliance and support portfolio monitoring processes
- Partner with Relationship Managers, Underwriters, Credit Risk, and Loan Administration
- Provide underwriting guidance throughout the deal lifecycle
- Act as a key underwriting resource within Housing Capital
- Participate in client, bank group, and site meetings as needed
- Support underwriting diligence and relationship management efforts
- Utilize internal systems to support underwriting and workflow efficiency
- Leverage Copilot and AI-enabled tools to enhance analysis
- Ensure adherence to credit policies and documentation standards
Benefits
- Healthcare (medical, dental, vision)
- Basic term and optional term life insurance
- Short-term and long-term disability
- Pregnancy disability and parental leave
- 401(k) and employer-funded retirement plan
- Paid vacation (from 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 worked, up to 80 hours per calendar year unless otherwise provided by law
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What This Job Offers
Job Type
Full-time
Career Level
Senior
