Senior Commercial Real Estate Underwriter – Housing Capital

U.S. Bank

Senior Underwriter supporting a specialized portfolio of large homebuilders within U.S Bank's Housing Capital group. Conducting financial analysis and managing risks for commercial real estate transactions.

Posted 6/25/2026full-timeCharlotte • California, North Carolina • 🇺🇸 United StatesSenior💰 $111,605 - $131,300 per yearWebsite

About the role

Key responsibilities & impact

Perform comprehensive financial and credit analysis for commercial real estate transactions supporting residential development and homebuilder clients
Underwrite new credit requests, modifications, renewals, and extensions
Prepare and update detailed credit memoranda supporting underwriting recommendations
Evaluate borrower financial statements, global cash flow, liquidity, leverage, and repayment capacity
Assess and assign accurate risk ratings in accordance with bank policy
Conduct quarterly portfolio reviews, including covenant testing and financial analysis
Review monthly and quarterly borrower reporting such as project sales, development progress, and budget-to-actual performance
Monitor construction and development activity to ensure projects are progressing on time and within budget
Perform covenant validation and participate in required portfolio and compliance testing
Work closely with Relationship Managers, peer Underwriters, and Loan Administration teams
Provide underwriting support and guidance throughout the deal lifecycle
Attend occasional client meetings, bank group meetings, and site inspections in support of Relationship Managers
Support external-facing activities as appropriate while maintaining primary focus on underwriting responsibilities
Utilize internal credit, underwriting, and reporting systems to support underwriting activities
Leverage technology solutions, including Copilot and other automation or AI-enabled tools, to enhance efficiency and analysis
Adhere to established credit policy, underwriting standards, and documentation requirements

Requirements

What you’ll need

Bachelor’s degree or equivalent experience
Five or more years of commercial lending experience
Demonstrated experience in commercial real estate underwriting
Advanced knowledge of commercial lending policy, government agency compliance (Reg B, H, O, etc.), all applicable laws and regulations, credit quality standards, company and business line policies and procedures
Advanced knowledge of credit products
Ability to independently underwrite and manage complex CRE transactions
Strong analytical and problem-solving skills
Strong leadership ability to mentor coordinator the work of others
Well-developed written communication and verbal presentation skills
Direct experience underwriting homebuilder or residential development lending
Prior experience supporting acquisition & development loans, construction financing, or borrowing base facilities
Proficiency with Microsoft Office tools, including Teams and advanced Excel capabilities such as VLOOKUPs, pivot tables/charts, PowerPivot or DAX, and Power Query
Experience with nCino platform
Familiarity with AI-enabled tools

Benefits

Comp & perks

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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Hard Skills & Tools

financial analysiscredit analysisunderwritingrisk assessmentcovenant testingcredit productscommercial real estate underwritingcomplex CRE transactionsMicrosoft ExcelnCino

Soft Skills

analytical skillsproblem-solving skillsleadership abilitywritten communicationverbal presentation skills