Modification Review Specialist

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 assigning loan modification requests to team members and reviewing and analyzing prepared documentation 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 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 You’ll 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 inter-creditor agreements to effectively identify critical risks to protect the Bank’s interests.  Consult with the loan team, Attorneys, and/or Manager on matters regarding the Bank’s 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 post-closing 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 state-of-the-art 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

• In-depth 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 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 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 Bank’s 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 wi.th 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: http://www.liveoakbank.com/careers/

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 [email protected].

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.

The base pay range for this position is $70,000.00 - $110,000.00 per year. Compensation may also include annual bonuses and long-term incentives, subject to various metrics and company policy. A candidate’s salary is determined by several factors including travel, relevant work experience or skills and expertise.

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.