Commercial Real Estate Senior Underwriter – Housing Capital

 

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.

Job Description

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. 
 

Key Responsibilities – Credit Underwriting & Financial Analysis 

• 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 
   

Portfolio Management & Monitoring 

• 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 
   

Internal Partnership & Leadership 

• 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 
   

Client Interaction 

• Participate in client, bank group, and site meetings as needed 
• Support underwriting diligence and relationship management efforts 
   

Tools, Technology & Process 

• 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 
   

Why Join Housing Capital 

• Opportunity to work on complex homebuilder transactions across the U.S. 
• Collaborative, experienced team with strong underwriting discipline 
• Exposure to a specialized and growing CRE segment 
• Commitment to innovation, including AI-driven underwriting tools 
   

Basic Qualifications 

• Bachelor’s degree or equivalent experience 
• Seven – ten years of commercial lending

Preferred Skills / Experience 

• 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 

Location expectations 

This role requires working from a U.S. Bank location three (3) or more days per week. Office locations: Charlotte DCS or Newport Beach.

If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.

Benefits: 

Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following:

• 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

Review our full benefits available by employment status here.

U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law.

E-Verify

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $111,605.00 - $131,300.00

U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.

Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.

Posting may be closed earlier due to high volume of applicants.