For national banks, underwriting refers to the terms and conditions under which they extend or renew credit, such as financial and collateral requirements, repayment programs, maturities, pricing, and covenants. Banks may tighten standards in response to economic conditions while still continuing to extend credit in commercial and retail loan products.
AL = Advisory Letter
Credit Underwriting Standards and Portfolio Credit Risk Management (AL 1997-3, March 1997)
Real Estate Lending Standards (12 CFR 34.62)
Survey of Credit Underwriting Practices