Modification Review Specialist
Modification Review Specialist
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$ 70000 - 110000
1 Vacancy
Job Description
About Us
Live Oak Bank is a digital bank that serves small business owners across the country. Our groundbreaking spin on service and technology has fueled our mission to be Americas Small Business Bank. Our products help customers buy build and expand their business and our highyield savings and CD products help them grow their hardearned money. At Live Oak we never lose sight of the wellbeing of our people. We believe our employees are the heart of our company. Our commitment to our customers and culture is intertwined and we seek those who embody and embrace what it takes to empower the American dream.
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 Youll Do at Live Oak
This role is accountable for assigning loan modification requests to team members and reviewing and analyzing prepared documentation associated with the Banks commercial loan modification operations while ensuring compliance with State Federal Bank and SBA Standard Operating Procedure (SOP) regulations. Responsible for crosschecking the information gathered identifying risks to the Bank and resolving or escalating such risks as necessary. Works closely with Loan Modification Manager Loan Modification Paralegals Loan Modification Analysts Business Analysts Special Assets Construction Credit Finance Insurance Underwriters and others as needed to ensure an efficient and accurate loan modification process. This role will also assist in mentoring and training other team members.
How Youll Do It
Review various legal documents prepared by Loan Modification Paralegals 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 intercreditor agreements to effectively identify critical risks to protect the Banks interests. Consult with the loan team Attorneys and/or Manager on matters regarding the Banks risk as appropriate.
Work closely and effectively communicate with Loan Modification Manager Loan Modification Paralegals Loan Modification Analysts Business Analysts Special Assets Construction Specialists Credit Finance Insurance Underwriters 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.
Assist with review analysis and resolution of postclosing items and/or exceptions related to loan modifications and documentation as needed.
Promote teamwork and effectively monitor team members 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 stateoftheart practices.
Assist with providing leadership training and guidance to other team members.
Required and Preferred Experience
Five years of paralegal experience is strongly preferred.
Five years of Commercial Transactional or Banking experience is strongly preferred.
Three years of Live Oak Bank experience is preferred.
Experience with SBA loans corporate documentation titles leases contracts and other legal and loan documentation is required.
Skills
Indepth knowledge of legal terms rules and documents
Must be familiar with court proceedings
Proficient in Microsoft Office (Word Excel Outlook and PowerPoint)
Critical strategic and analytical thinking skills
Highly proficient computer internet and electronic research skills
Very detailoriented with strong organizational and leadership skills
Excellent written and oral communication skills
Selfmotivated confident energetic and creative
Ability to multitask and manage narrow timelines
Ability to crosstrain and mentor other individuals
Certifications
Certification in paralegal studies is strongly preferred
Education
High School graduate or GED required
College Degree required
Our Values
Dedication:Possess a deep commitment to Live Oak Banks mission and core values exemplified through a strong work ethic adaptability and pride in your work.
Ownership:Take initiative to deliver positive results by proactively and creatively solving problems while maintaining a high degree of quality.
Respect:Treat everyone courtesy politeness and kindness.
Innovation:Embrace fresh ideas and fearlessly contribute new solutions to emerging or existing problems.
Teamwork: Foster collaboration accountability and trust with others and understand that together we do more
For a detailed overview of our employee benefits please visit: 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.
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 employerpaid 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.
Required Experience:
Unclear Seniority
Employment Type
Full-Time
