Victorian Finance - A Division of Farmers Bank is seeking an experienced Underwriter to evaluate and structure both commercial real estate (CRE) loans and non-qualified mortgage (Non-QM) residential loans. This role owns credit risk analysis end-to-end—reviewing borrower financials, property performance, and collateral—to render sound, well-documented credit decisions that balance portfolio growth with prudent risk management. The ideal candidate is comfortable underwriting income-producing properties on the commercial side and alternative-documentation loans on the residential side, and can move fluidly between the two.

Commercial Real Estate

• Underwrite CRE loan requests across property types—multifamily, office, retail, industrial, mixed-use, and owner-occupied—analyzing rent rolls, trailing-12 operating statements, and pro formas.

• Calculate and interpret key metrics including debt service coverage ratio (DSCR), loan-to-value (LTV), debt yield, and capitalization rates to determine repayment capacity and collateral adequacy.

• Perform global cash flow and contingent-liability analysis on guarantors and related entities using personal and business tax returns, financial statements, and rent schedules.

• Review third-party reports—appraisals, environmental (Phase I ESA), property condition, and title—and identify conditions or exceptions that must be cleared prior to closing.

• Structure loans (amortization, term, covenants, reserves, recourse) and prepare written credit memoranda with clear risk ratings and recommendations for presentation to the loan committee.

Non-QM Residential

• Manually underwrite Non-QM loan products including bank statement, DSCR (investor cash-flow), asset-depletion/asset-qualifier, P&L, ITIN, and foreign national programs.

• Assess income for self-employed and complex borrowers using alternative documentation, applying investor and program-specific guidelines rather than standard agency automated findings.

• Document the basis for each Ability-to-Repay (ATR) determination and ensure files are underwritten in accordance with applicable investor overlays and internal credit policy.

• Analyze credit history, reserves, occupancy, and property eligibility (including non-warrantable condos and interest-only structures) to render clear approve/suspend/decline decisions.

• Issue and clear loan conditions, communicate decisions and rationale to loan officers and processors, and manage a pipeline to meet service-level turn times.

Across Both Portfolios

• Ensure loans comply with applicable regulations and guidance, including TRID/RESPA, ECOA, HMDA, Fair Lending, and the ATR/QM rule, as well as internal credit and BSA/AML requirements.

• Maintain complete, audit-ready loan files and support internal, external, and regulatory examinations.

• Recommend enhancements to underwriting guidelines, checklists, and workflow to improve consistency, quality, and turnaround.

• 3+ years of underwriting experience with demonstrated exposure to both commercial real estate and residential mortgage lending; direct Non-QM experience strongly preferred.

• Working knowledge of CRE credit analysis (DSCR, LTV, debt yield, NOI, global cash flow) and of Non-QM programs and alternative income documentation.

• Familiarity with mortgage regulations—ATR/QM, TRID/RESPA, ECOA, HMDA, and Fair Lending—and the discipline to document decisions accordingly.

• Strong analytical skills with the ability to interpret tax returns, financial statements, appraisals, and third-party reports.

• Proficiency with loan origination systems (Encompass / Hawthorne) and standard productivity tools; strong written communication for credit memoranda.

We are a community-focused financial institution headquartered in Parsons, Tennessee, proudly serving individuals, families, and businesses across our region for over 100 years. Built on a tradition of personal service, integrity, and deep community roots, we combine the trusted relationships of a local bank with the capabilities of a modern lending operation.

Through our mortgage division, Victorian Finance, we extend that same commitment nationwide—delivering residential mortgage lending and servicing with a focus on accuracy, compliance, and exceptional borrower care. Our servicing team is central to that mission, managing each agency loan with precision from boarding through payoff. We offer our employees a supportive, collaborative culture, meaningful opportunities for professional growth, and the tools and training to build a rewarding career in mortgage servicing.