Structured Finance and Securitization

Counsel to issuers in the design and implementation of a wide range of residential mortgage-backed securities (RMBS) programs for regulated financial institutions, real estate investment trusts and other issuers, involving virtually all loan types, including first and junior liens, home equity loans, high LTV loans, home improvement loans, FHA Title I loans, manufactured housing contracts, and the first private and public offerings of “reperforming” government-insured loans
Program counsel for the Government National Mortgage Association (Ginnie Mae) real estate mortgage investment conduit (REMIC) program and the United States Department of Veterans Affairs (VA) Vendee Loan securitization program, the only REMIC programs involving full faith and credit guarantees of the United States
Represent issuers and other participants in term and revolving asset-backed securities (ABS) and structured credit facilities involving a variety of asset types, including trade receivables, credit card receivables, student loans, equipment leases, franchise loans, aircraft lease payments, insurance products, oil and gas receivables, small business loans and toll road receivables
Counsel to banks, hedge funds, and other lenders and investors in structuring warehouse and other secured lending facilities involving a variety of financial assets, including single-family, multifamily and government-insured mortgage loans, RMBS, commercial mortgage-backed securities (CMBS) and residential tax liens
Represent issuers of public and private prime and subprime auto loan term securitizations, including the first prime auto loan securitization involving an offshore issuer for U.S.-originated auto loans
Program counsel to bank-sponsored asset-backed commercial paper (ABCP) conduits and counsel to sellers of financial assets to ABCP conduits
Represent issuers, mortgage servicers, bank lenders and placement agents in connection with servicer advance financing facilities, including transactions involving the issuance of TALF-eligible term ABS notes and revolving variable funding notes, master trust vehicles and revolving lines of credit
Counsel to leading mortgage loan servicers in connection with servicing portfolio acquisitions and the structuring of related acquisition financings, including servicer advance receivables and mortgage servicing rights financing facilities
Provide counsel and advice to trustees, master servicers, securities administrators and servicers regarding numerous and varied issues related to the administration of outstanding RMBS, ABS and other transactions, including enforcement of repurchase remedies related to breaches of representations and warranties, compliance with mortgage foreclosure and loss mitigation programs (including the U.S. Treasury HAMP initiative and other governmental programs), pool insurance rescission claims and various related issues
Advise industry participants and trade groups regarding the interpretation and implementation of statutory and regulatory changes affecting structured finance and securitization matters
Represent monoline financial guaranty insurers in connection with tender offer programs and other initiatives designed to commute obligations on more than $10 billion of insured RMBS and ABS
Issuer's counsel on synthetic securitizations referencing various asset pools, including mortgage loans, prime auto loans and other consumer receivables
Represent collateralized debt obligation (CDO) managers in restructurings of trust preferred securities and other debt instruments, and represent purchasers and sellers of CDO management rights
Issuer's counsel on public and private resecuritization (or re-REMIC) transactions involving both RMBS and CMBS
Represent purchasers and sellers of all types of residential mortgage loans (including prime, Alt-A, subprime, performing and nonperforming mortgage loans), RMBS (including subordinated securities and REMIC residual interests) and related mortgage and mortgage derivative products
Represent underwriters, structuring advisors and electric utilities in connection with dedicated utility rate securitization transactions
Advise utility companies in drafting state securitization statues
Counsel to issuers and underwriters of public and private securitizations of manufactured housing installment sales contracts, and represent originators and servicers of manufactured housing contracts in various matters, including working capital and inventory warehouse financing transactions
Represent sponsors in connection with the organization, structuring, marketing and operation of private equity funds created to invest in mortgage loans, RMBS, CMBS, ABS and related assets and products

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