Job Details

Legal Staff Paralegal in Toms River, NJ

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Company name

Ocean Federal Savings Bank

Organization Type


Job Type

Legal Staff

Practice Area

Corporate - General
Real Estate

Years of Experience

Min 10 yrs required


Toms River, NJ

Date Last Verified

Mar 26,2018

Posted on

Mar 01,2018

42 hits


Paralegal - Commercial The candidate will be handling of pre-closing loan due diligence and documentation process to support to the Commercial Lending Group under the supervision of Associate General Counsel. Initial review of term sheets and loan approvals for preparation of documentation and due diligence closing checklist requirements. Review and analysis of loan due diligence responses. Preparation of title/search review letters; and preparation of loan documents for new and modified commercial loans and small business real estate loans in accordance with the Bank’s policies and procedures. Responsibilities also include providing administrative support for Commercial and Small Business Loan due diligence and documentation as required by Associate General Counsel. Review of executed term sheets and credit approval documents to determine due diligence requirements and prepare pre-closing due diligence checklists for internal Commercial Loan Assistant (CLA) use and external closing agent requirements. Prepare form IDL loan documentation based on the loan requirements. Review of title insurance binders, supplemental searches, surveys, metes and bounds descriptions and entity documents to ensure conformance with the loan approval, conditions and requirements of the bank’s term sheets and checklists for closing. Communicate with CLAs, outside attorneys and title agents regarding closing requirements, problems and deficiencies with closing requirements and loan status. Performs follow up to ensure outstanding due diligence items are collected, corrected and completed prior to clearing loans for closing. Prepare loan modification agreements, lien release agreements, subordination agreements and various other loan related documents at the discretion of Associate General Counsel. Review title insurance policies and instruct post-closing staff to obtain necessary endorsements. Work with commercial credit to create outstanding post-closing loan documentation requirements and deadlines, when necessary. Review small business real estate loan documentation, commitment letters, title work and other due diligence with oversight of Associate General Counsel. Prepare status reports for IDL and Modification files as required. Open, maintain and update all electronic loan files as required by the legal department. Monitor outside foreclosure attorneys and updates foreclosure status reports. Assist Associate General Counsel with foreclosure documentation and responses when necessary. Handle all requests for subpoenas and other legal process document requests. Prepare foreclosure and other litigation documents at the direction of Bank Counsel. Prepare documents for the sale of Bank’s REO properties and Deed in Lieu transactions at the direction of Associate General Counsel.

Qualification and Experience

The candidate must have Associate degree or paralegal certificate, along with 10+ years of paralegal, commercial lending and administrative experience. Should have paralegal skills and general working knowledge of terms and concepts in specialized areas, including real estate, mortgage, commercial law, estates and trusts and legal transactions. Extremely detail oriented with excellent written, verbal and interpersonal skills, in addition to proficiency with MS Word and general knowledge of Excel is needed.

Additional info

Requisition ID : 1376

Company info

Hiring Coordinator
Ocean Federal Savings Bank
975 Hooper Avenue
Toms River, NJ 08753