Commercial Loan Underwriter
Reports to: Team Lead, New Loan Underwriting
Location: San Diego, California
Job Overview
Endeavor Bank’s diverse business clientele is centered in San Diego and across the greater Southern California market. The underwriting position supports the Bank’s mission to deliver tailored lending solutions with a strong emphasis on credit quality, risk management, and responsiveness, all with a consultative approach. The Underwriter is further expected to apply sound judgment, demonstrate technical competency, maintain a commitment to accuracy, sound underwriting practices, regulatory compliance, and provide quality service standards in a dynamic, deadline-driven environment.
Reporting to the Team Lead of the New Loan Underwriting Group, this Commercial Loan Underwriter position places an emphasis on underwriting new loan requests. The underwriting position also includes managing a portfolio of complex, high-balance relationships for renewal, modification, and ongoing credit monitoring. Specific responsibilities are outlined in the sections below.
Loan Types
This role involves underwriting a wide range of credit products offered by the Bank. These include Commercial and Industrial (C&I) loans such as lines of credit, equipment loans, working capital loans, business acquisitions, partner buyouts, and SBA 7(a). It also covers a variety of Commercial Real Estate (CRE) loans, including owner-occupied real estate, investment properties, and construction loans, consisting of commercial, retail, industrial, multifamily, and hospitality asset types. The Bank also utilizes SBA 504 loan structures, State and Federal guaranteed loan programs, and various other loans for commercial business purposes. Understanding of loan structures, repayment sources, collateral, industry/market detail, and regulatory guidelines is essential to underwrite each transaction effectively.
Financial Spreading
The Underwriter is responsible for preparing detailed spreads of borrower and guarantor financial statements, tax returns, and related financial data. All spreads must be accurate, fully reconciled, and comply with Bank standards. Close attention and careful consideration must be given to the treatment of particular financial accounting practices to ensure adherence to Bank spreading guidelines to accurately present spreads and financial analysis. The Underwriter must validate the financial integrity of borrower entities, consolidate affiliated entities when appropriate, and analyze guarantor tax returns and personal financial statements. Spreading should support both historical performance evaluation and forward-looking projections.
Financial Analysis & Risk Assessment
Using the financial spreads and other relevant information, the Underwriter performs comprehensive credit and risk analyses. This includes evaluating liquidity, leverage, profitability, and debt service coverage ratios. Global cash flow analyses are performed for guarantor-backed credits or multi-entity borrowers. The Underwriter also examines business models, industry trends, customer concentrations, ownership structures, succession plans, and any known legal or reputational risks. Each analysis must be objective and well-documented, reflecting the Underwriter's independent judgment and consistent alignment with the Bank's credit policy and risk profile.
New Loan Underwriting
For new loan requests, the Underwriter prepares the Loan Approval Memorandum (LAM). This includes synthesizing financial analysis of borrower(s) and guarantor(s), business background, industry/market research, collateral assessment, loan structure, covenant recommendations, and summary of risks and mitigants. The Underwriter is expected to collaborate with the relationship manager and borrower to understand the business need and ensure all documentation and due diligence is collected. By signing the LAM, the Underwriter affirms their endorsement of the proposed credit, making them accountable for the analysis and structure.
Upon assignment of new loan requests, the Underwriter is responsible for ensuring a complete underwriting package is received timely and adhering to approval timelines to ensure proper closing expectations are met. As an internal measure for timeliness of underwriting responsibilities, the Bank has set expectations defined as:
Renewal Underwriting
The Underwriter is responsible for proactively managing maturing loans and ensuring timely renewal underwriting is completed well in advance of maturity dates. The Bank’s renewal process begins 90 days prior to maturity as indicated on the weekly maturing loan report provided by Credit Admin. This includes requesting updated financials, spreading, performing current credit analysis, confirming covenant compliance, and assessing whether modifications to terms or conditions are warranted. The Underwriter must escalate any loans at risk of maturing without renewal approval at least 15 days in advance, and coordinate with the designated Team Lead or Credit Admin as needed. Routine reliance on short-term extensions is discouraged and considered underperformance.
Portfolio Management
The Underwriter plays an active role in ongoing portfolio oversight for loans assigned to each respective Underwriter. This includes tracking and reviewing borrower financial reporting, conducting periodic covenant testing, and performing annual reviews. The Underwriter is responsible for initiating risk rating adjustments when warranted, flagging deteriorating conditions, and preparing quarterly problem loan reports for downgraded relationships. The Underwriter must monitor financial trends, debt levels, and borrower responsiveness throughout the life of each loan to ensure credit risk is appropriately managed.
Asset-Based Lending
For loans involving borrowing base facilities or collateral-dependent repayment, the Underwriter enforces borrowing base compliance and collateral eligibility requirements. This includes validating advance rates, monitoring dilution trends, ensuring timely and accurate submission of borrowing base certificates, and following up on field audit results. The Underwriter must identify and resolve any over-advances, discrepancies, or material ineligibles promptly to maintain control over the facility.
Collateral Review
Collateral is reviewed for adequacy, enforceability, and valuation accuracy. The Underwriter will assess accounts receivable, inventory, equipment, real estate, and other pledged assets. Lien positions, UCC filings, insurance coverage, appraisals, and title reports must be verified or ordered as appropriate. Environmental due diligence is required for real estate transactions that meet materiality thresholds or involve industries with heightened environmental risk.
Loan and Legal Documentation
Once a loan is approved, the Underwriter works closely with loan documentation specialists and legal counsel to ensure the proper drafting and execution of all legal documents. This includes new loan agreements, change in terms agreements, notices of default, and forbearance agreements, and other applicable loan or legal agreements. The Underwriter must confirm that documents conform to the approved credit terms and applicable regulatory requirements and ensure that legal counsel is engaged when complex structures or documentation risk exists.
Credit Policy Compliance
The Underwriter must maintain strict adherence to Endeavor Bank's Credit Policy and lending guidelines. All policy exceptions must be clearly documented and justified with appropriate mitigating factors. The Underwriter plays an important role in maintaining the integrity of the credit process and ensuring that loan decisions are consistent, prudent, and well-supported. Recommending changes to credit policy based on observed trends or industry standards is encouraged.
Regulatory and Internal Compliance
This position supports regulatory and internal credit reviews, including safety and soundness exams, credit file audits, BSA/AML evaluations, and compliance reviews. The Underwriter must ensure proper file documentation, timely response to reviewer inquiries, and implementation of remediation actions if issues are identified. A thorough understanding of relevant regulatory framework is expected.
Communication
Strong communication is essential. Internally, the Underwriter must engage in frequent collaboration with Relationship Managers, Credit Administration, Loan Operations, and Executive Leadership. Externally, Underwriters will interface with borrowers, CPAs, appraisers, examiners, and attorneys to clarify documentation, confirm data, or resolve credit issues. The Underwriter is expected to communicate clearly and professionally in both written and verbal formats.
Performance Metrics
Qualifications
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