Associate Modification Paralegal

About the role

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. 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.

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
• 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

Requirements

• High School Diploma or GED
• 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

Qualifications

• College Degree
• Minimum of 1 year of paralegal experience
• Minimum of 1 year of Commercial, Transactional or Banking experience
• Experience with SBA loans, corporate documentation, title, leases, contract and other legal and loan documentation
• Certification in paralegal studies
• Excellent written and oral communication skills
• Self-motivated, confident, energetic and creative
• Ability to multi-task and manage narrow timelines
• Ability to cross-train