Loan Modification Analyst

About Us

How This Role Impacts Live Oak and its People

As a Loan Modification Analyst, you play a pivotal role in ensuring borrowers’ loan modification requests receive efficient, accurate, high quality, and customer-focused service while safeguarding the bank’s interests. Your expertise directly impacts our borrowers and contributes to Live Oak’s mission of being America’s Small Business Bank. Specifically:

• Critical Support: You guide borrowers through the loan modification intake and approval process, collaborating with external third parties, and various internal teams to ensure timely and prudent outcomes. Your critical thinking and problem-solving skills directly impact borrowers’ financial well-being and Live Oak’s reputation.

• Efficiency and Accuracy: You contribute to Live Oak’s ability to handle loan modifications swiftly and accurately, safeguarding the Bank’s interests while providing borrowers with a positive experience.

• Risk Mitigation: By strategically analyzing loan modification requests and supporting documentation, you protect the bank from potential risks. Your attention to detail maintains our high standards and ensures compliance with bank and government regulations

What You’ll Do at Live Oak

• Effective Communication: Engage directly with borrowers, external third parties, and internal teams to set clear expectations for the modification process

• Thorough Evaluation: Assess borrowers’ financial status, current collateral, loan terms and structure, in conjunction with the modification request, ensuring accuracy and prudence

• Document Preparation: Prepare and submit loan modification credit memoranda to Credit Administration for approval, addressing risks and critical details

• Team Support: Lead and assist servicing teams during the approval process, fostering collaboration and efficiency

• Effective Communication: Engage directly with borrowers, external third parties, and internal teams to set clear expectations for the modification process

• Thorough Evaluation: Assess borrowers’ financial status, current collateral, loan terms and structure, in conjunction with the modification request, ensuring accuracy and prudence

• Document Preparation: Prepare and submit loan modification credit memoranda to Credit Administration for approval, addressing risks and critical details

• Team Support: Lead and assist servicing teams during the approval process, fostering collaboration and efficiency

• Demonstrate excellent customer service, negotiation, critical thinking and problem-solving skills

• Maintain thorough knowledge about current modification requirements and procedures, ensuring compliance

• Conduct thorough reviews and independently apply expertise and judgment to validate and ensure eligibility of the modified loan structure

• Make timely and independent Credit decisions within approved Credit authority for specific modification requests

• Conduct certain due diligence items including checking for any outstanding exceptions, ordering, and evaluating third party appraisal(s) on real estate, business valuation(s), etc. when necessary

• Review and analyze documents supplementing each loan modification request, including purchase agreements, leases, organizational documents, etc

• Effectively manage a pipeline to ensure quality and customer service standards are achieved

• Stay informed by attending workshops, reviewing publications, and benchmarking best practices

• Maintain a high standard of regulatory awareness including BSA, AML, CIP, and OFAC

        

Required Experience

• Bachelor's degree or equivalent experience 

• 4 - 6 years of Commercial, Transactional, or Banking experience

• Experience with SBA loans, corporate documentation, title, leases, contract and other legal and loan documentation

• Proficient in Microsoft Office (Word, Excel, Outlook, and Power Point) 

Preferred Experience

• Paralegal studies degree/studies

• Prior Live Oak Bank experience

• Critical thinking

• Negotiation

• Problem Solving

• Communication

• Customer Service

• Organization

• Research

• Detail oriented

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 HumanResources@liveoak.bank.

EEO is the Law

The base pay range for this position is $56,540.00 - $92,520.00 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.