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 America’s Small Business Bank. Our products help customers buy, build, and expand their business, and our high-yield savings and CD products help them grow their hard-earned money. At Live Oak, we never lose sight of the well-being 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 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.
What You’ll Do at Live Oak
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
Required Experience
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
Preferred Experience
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
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 with 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
The base pay range for this position is $19.23 - $31.25 per hour. 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.
Top Skills
What We Do
Live Oak Bank has had the privilege of helping thousands of passionate, driven people turn their dreams into reality. These everyday heroes aren’t in it for the fortune or the fame. They’re in it to make a difference, just like we are.
As one of the last banks to get a charter before the start of the Great Recession, Live Oak emerged out of the rubble of 2008 as the first bank to keep the customer at the center of the business model. We put a groundbreaking spin on what banking could be, focused on service and technology to redefine banking.
Live Oak is a digital, cloud-based bank serving small business owners in all 50 states. We are the #1 SBA 7(a) lender by dollar volume* in the country and our mission is to be America’s small business bank. We aim to fulfill that mission through banking products that help business owners buy, build and expand, along with FDIC-insured checking, high-yield savings and CD accounts to grow their hard-earned money. Our family of companies under the holding and parent company Live Oak Bancshares (NYSE: LOB), and our subsidiaries, partner with businesses who share a groundbreaking focus on service and technology to redefine banking.
Our mantra is to treat every customer like the only customer and our mission is to be America’s small business bank.
