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Live Oak Bank · 1 day ago

Associate Modification Paralegal

Greater Wilmington Area

Full-time

Onsite

Entry Level

$19.23/hr - $31.25/hr

1+ years exp

Live Oak Bank is a digital bank dedicated to serving small business owners across the country. The Associate Modification Paralegal role is responsible for preparing and reviewing legal documents related to loan modifications while ensuring compliance with various regulations. This position requires close collaboration with multiple stakeholders to ensure an efficient and accurate loan modification process.

BankingCreditFinancial ServicesLending

Growth Opportunities

Responsibilities

Prepare and/or review various legal documents, including loan modification agreements, guarantees, mortgages/deeds of trust, assignments, security agreements, subordination agreements, intercreditor agreements, and resolutions

Review, analyze, prepare and/or negotiate, as applicable, certain due diligence items, including modifications to loan credit memos, purchase agreements, leases, organizational documents, and inter-creditor agreements to effectively identify critical risks to protect the Bank’s interests

Consult with loan team, Attorneys, and/or Manager on matters regarding the Bank’s risk as appropriate

Order, review and analyze title reports, title commitments, UCC & lien searches, surveys, etc

Work closely and effectively communicate with Loan Modification Analysts, Business Analysts, Special Assets, Construction Specialists, Credit, Finance, Insurance, Underwriters, Attorneys, Borrower’s counsel, title companies, and others as needed, to ensure all required loan modification documentation is obtained and in compliance with State, Federal, Bank and SBA regulations prior to finalization of the loan modification

Make independent decisions in the review of due diligence and loan documentation and communicate such decisions in a timely manner to lending personnel for any changes that are necessary

Prepare and record/file applicable documents to effectively perfect, release and/or continue liens held as the Bank’s collateral in the proper lien position

Assist with review, analysis and resolution of post-closing items and/or exceptions related to loan closings and documentation, as needed

Promote teamwork and effectively manage a pipeline to ensure quality and customer service standards are maintained and/or exceeded

Help achieve corporate and department goals and help develop, coordinate and enforce policies, procedures, and productivity standards

Continue to train and learn by attending educational workshops, reviewing professional publications, and benchmarking state-of-the-art practices

Maintain a high standard of regulatory awareness including BSA, AML, CIP, and OFAC

Qualification

Loan modification agreementsDue diligence analysisLegal document preparationParalegal experienceSBA loans experienceMicrosoft Office proficiencyCritical thinkingDetail-orientedCommunicationOrganizational skills