Banking Paralegal Law and Legal Definition

A banking paralegal assists attorneys in banking and finance matters, focusing on plaintiff litigation with defendants such as borrowers in default and foreclosures. Assists attorneys by providing legal support to the mortgage loan servicing areas of the company, such as defaulted loans, property hazard insurance claim disputes, loan fraud, forgeries, title insurance claims and bankruptcy. Provides litigation support to attorneys and assists in the management of plaintiff-side lawsuits; conducts legal research and analyses; participates in negotiating settlements with outside counsel; comments on various pleadings, discovery and correspondence; assists in preparing legal procedures for company policies and procedures on-line library; handles incoming legal process; and special projects assigned by attorneys. Provides litigation support to attorneys in bank-initiated litigation, including legal research, coordination of discovery matters, communicating with outside attorneys. Monitors and keeps updated legal tracking matters. Performs federal and state legal research, and provide analysis and summary for attorneys. Manages and prepares bank's response to subpoenas, summons, and discovery requests. Duties vary by position.