Job Description

Sr. Construction Loan Underwriter

Location: East Bay, CA (Hybrid Options)

About the Opportunity

We are seeking a Sr. Construction Loan Underwriter to join a specialized construction lending team. This role replaces a highly tenured underwriter who carried a significant workload, so the successful candidate must bring strong expertise and the ability to contribute immediately .

Projects typically total ~$60M annually , with a diverse portfolio that includes single-family developments, townhomes, condos, hotels, gas stations, country clubs , and SBA 504 construction loans . The position requires true commercial construction underwriting experience —residential-only or consumer underwriting is not sufficient.

This role also offers a career path into assistant manager or departmental leadership , supporting long-term succession planning.

Key Responsibilities

• Evaluate and underwrite new and renewal construction loan requests, including complex commercial projects.

• Screen loan requests for purpose, structure, repayment sources, and overall feasibility.

• Prepare and present Loan Credit Memorandums to senior management and credit committees.

• Perform detailed financial and credit analysis (tax returns, financial statements, REO schedules, operating statements, etc.).

• Review and guide preliminary title, organizational documents, and borrower structures.

• Monitor and manage the loan pipeline, including maturing and in-process loans.

• Conduct construction site visits, review draw requests, and monitor project progress.

• Provide mentorship to processors and analysts; contribute to workflow management and SLA achievement.

• Support continuous process improvements, risk rating assessments, and portfolio management.

Qualifications

• 5+ years’ experience in commercial construction and CRE underwriting required.

• Bachelor’s degree in Business, Finance, or Accounting preferred.

• Expertise in construction project budgets, draw schedules, feasibility analysis, and global cash flow.

• Experience underwriting SBA 504 construction loans strongly preferred.

• Strong communication, organization, and presentation skills.

• Ability to thrive in a fast-paced environment while managing a large, complex pipeline .

• Knowledge of the Bay Area real estate market is a plus.

• Leadership experience or interest in career progression into management is highly valued.

Work Environment & Flexibility

• Standard: 3 days in-office per week (Tuesday/Thursday + one flex day).

• Flexibility: Highly experienced candidates may transition to hybrid or fully remote arrangements after onboarding.

• Team structure:

  • 2 Senior Underwriters (this role replaces one retiring member)

  • 1 Construction Loan Processor

  • 1 Construction Loan Disbursement Specialist

Why Join

This is an opportunity to step into a high-responsibility role where your expertise will immediately matter. You’ll underwrite diverse and complex projects across both commercial and SBA portfolios, while enjoying a clear pathway to leadership.

You’ll also benefit from:

• Health & Wellness: Medical, dental, vision, FSAs, HSAs

• Financial & Retirement: 401(k) with match, ESOP, performance-based bonuses

• Work-Life Balance: Paid holidays, vacation, parental leave, free checking/savings, home loan rate discounts

• Professional Growth: Tuition reimbursement, training, and leadership development

Equal Opportunity

We are proud to be an Equal Opportunity Employer, committed to creating an inclusive environment for all employees, regardless of race, gender identity, sexual orientation, age, disability, veteran status, or any other protected classification.

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