Associate Modification Paralegal

About Us

How This Role Impacts Live Oak and its People

This role is vital to the ability of Live Oak to provide and handle loan modifications with efficiency, accuracy, and excellent customer service to the borrower.  This role must be highly responsive and increasingly knowledgeable of modification requirements and procedures.

What You’ll Do at Live Oak

This role is accountable for ordering, analyzing, negotiating, and preparing the applicable due diligence, agreements, and loan modification documents associated with the Bank’s commercial loan modification operations, while ensuring compliance with State, Federal, Bank and SBA Standard Operating Procedure (SOP) regulations. Responsible for cross-checking the information gathered, identifying risks to the Bank, and resolving or escalating such risks as necessary.  Works closely with Loan Modification Analysts, Business Analysts, Special Assets, Construction, Credit, Finance, Insurance, Underwriters, Attorneys, Borrower’s counsel, title companies, and others as needed to ensure an efficient and accurate loan modification process.  Manages the filing and recording of security instruments to properly secure the Bank’s collateral as needed.  Accurate documentation, data, transcripts and files are required.

How You’ll Do It           

• 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.

Required and Preferred Experience

• Minimum of 1 year of paralegal experience is preferred.  
• Minimum of 1 year of Commercial, Transactional or Banking experience is preferred.  
• Experience with SBA loans, corporate documentation, title, leases, contract and other legal and loan documentation is preferred.
• High School graduate or GED required
• College Degree required
• Certification in paralegal studies is preferred
• Basic knowledge of legal terms, rules and documents
• Basic familiarity with court proceedings
• Proficient in Microsoft Office (Word, Excel, Outlook, and Power Point) 
• Critical, strategic and analytical thinking skills
• Proficient computer, internet and electronic researching skills
• Detail-oriented with strong organizational and leadership skills
• Excellent written and oral communication skills
• Self-motivated, confident, energetic and creative
• Ability to multi-task and manage narrow timelines
• Ability to cross-train

To Thrive at Live Oak

• Gravitate to Growth – Shows adaptability and support for changes to improve organizational effectiveness.
• Communicate and Collaborate – Communicates clearly and thoughtfully, demonstrating empathy in teamwork.
• Eye of the Tiger – Gets positive results by taking personal responsibility for actions and team outcomes.
• Know Your Business – Curates and maintains a depth of knowledge and skill to perform one’s job effectively.
• Customer at the Center – Provides customers with a personalized experience to achieve exceptional outcomes.

For a detailed overview of our employee benefits please visit: https://www.liveoakbank.com/corporate-social-responsibility/live-oak-bank-employees/

Live Oak Bank is an Affirmative Action and Equal Opportunity Employer, Minorities/Women/Veterans/Disabled. We consider applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, genetic information, veteran status or disability. Equal access to programs, service and employment is available to all persons. Those applicants requiring reasonable accommodation to the application and/or interview process should notify human resources at careers@liveoak.bank

EEO is the Law

Commitment to Diversity
Live Oak Bank is committed to creating and maintaining a workplace in which all employees have an opportunity to participate and contribute to the success of the business and are valued for their skills, experience, and unique perspectives. This commitment is embodied in company policy and the way we do business at Live Oak Bank and is an important principle of sound business management.

Please note that we provide at least the minimum requirement of paid sick leave to our employees who reside in states that require employer-paid sick leave, including but not limited to Arizona, California, Colorado, District of Columbia, Maine, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New Mexico, New York, Oregon, Rhode Island, Vermont, and Washington.