Structured finance: securitization in United States

‘Hunton is flexible and energetic when it comes to negotiating deals. They not only make sure they put their client first but also that they provide insight as to what’s reasonable in a deal vs market. They want to make sure their clients are well protected but that they also know where is reasonable to stand ground vs not. I think that honesty and openness vs just purely doing what the client wants is unique and helpful.’

‘Amy Williams is a great market leader and advocate. Constantly trying to make sure her clients remain informed and up to speed on the market. At the same time managing to make sure that all clients get documents/deals done on the timeline that was initially agreed upon. Outstanding work 100% of the time.’

‘Hunton is a market leader in the representation of lenders and borrowers in connection with warehouse financing of residential and commercial mortgage loans, RMBS, CMBS and tax liens.’

‘Exceptionally knowledgeable across resi products. Deep understanding of legal considerations and structural options that allow us to deliver most efficient structures to clients. ’

‘Unparalleled experience thoughtful flexible in meeting evolving needs for client/transaction and timing expectations.’

‘The Structured Finance practice at the firm is incredibly knowledgeable about any and all transactions related to the residential mortgage space. No matter which lawyers are assigned to the transaction, my experience has been that the engaged lawyers work efficiently and know how to keep the deal moving smoothly to closing. There are no weak links.’

‘As with most of the law firms we deal with, this team is a very intelligent, thoughtful group of lawyers. What separates them in my opinion though is how approachable they are and how engaged they become when you reach out to them. They make sure my team and I understand the legal concepts and language being detailed in the legal documents, but they also respect all of our ideas and thoughts and comments as well.’

‘While the entire Hunton team does an outstanding job, I would like to highlight and acknowledge the work of 3 partners in particular: Brent Lewis, Cecilia Horner and Janet Sadler McCrae. These 3 always go out of their way to make sure we are getting the best and most sound legal advice. What I think I like most is the level of respect they treat us with and how our relationship feels more like a partnership than anything else.’

‘Its not transactional, its a partnership where Hunton is working with you to achieve your desired goal. Very professional, highly experienced and delivers consistently strong work product.’

‘Flexibility, adaptability and ability to meet aggressive timelines are all unique to HAK in the RMBS space.’

‘Hunton has a vast structured finance practice and we have used them consistently due to their wide range of capabilities. The lawyers that we work with, in particular Mike Nedzbala, John Dedyo and Amy Williams are very efficient and have commendable expertise in their practice areas.’

‘Mike Nedzbala is one of our go-to partners for anything having to do with whole loan trades or servicing. He’s extremely knowledgeable and very client friendly. We have used John Dedyo on esoteric ABS transactions and he was fantastic with asset classes which are less main stream and have more nuanced legal issues.’

‘They are very approachable and explain the simplest to most complex contractual or legal items succinctly and respectfully.’

‘The Katten securitization team is deep and experienced. They are creative and business-oriented. What separates them from most of their peers is their ability to develop simple solutions to complex issues.’

‘Steve Esko and Chris DiAngelo have a deep well of experience both related to representing our company and with regard to securitization in general. They are readily able to focus on the key issues and then take a step back and formulate options that achieve the desired goal (or identify other outcomes that may be superior to the intended outcome).’

‘Dave Matthews is a new partner who has clarity of thought, both in terms of writing and communication. His maturity as an attorney was accelerated from careful study of the more experience partners at Katten. He is responsive, clear and a proactive problem-solver.’

‘Katten attorneys are very involved in providing solutions and guidance (as a true partner in a transaction), as opposed to waiting on direction from the company. My experience has been that I am confident in the advice I receive from Katten attorneys ’

‘Customer-centric, industry knowledgeable, pragmatic approach to problem solving, reasonable, flexible, inclusive of all parties to a transaction not just their client’

‘Anna-Liza Harris is an industry leader and always approachable for relevant questions also an advocate for more women in the financial services industry.’

‘Christina Burgess is very responsive and customer centric, again approachable with documentary challenges and new concepts. ‘

‘Incredibly responsive and detail oriented. Move the deal along without prompting. Super team.’

‘Carol Hitselberger is brilliant, engaged and helpful.’

‘The Charlotte based securitization/corporate finance team is truly excellent. Great breadth of knowledge, strong partners, solid associates, impressive innovation. This group is really at the top of their game and are an asset to any deal team.’

‘Outstanding client service at all levels, starting at the top with Stuart Litwin. Great response time to questions posed by in-house counsel or business units. Practical advice givers.’

‘Stuart Litwin is the key leader of the ABS team. He has developed many outstanding attorneys at Mayer Brown, including Angela Ulum. These attorneys all bring first-class service to the client. ’

‘Mayer Brown arguably has the deepest bench of structured finance lawyers in the industry across all major asset classes. The firm can manage virtually any deal regardless of size and can manage multiple deals concurrently no matter how challenging the deadline. The firm also has strong partners in required supporting practices such as tax, bankruptcy and regulatory. Its top tier consumer regulatory practice, in particular, is a major asset that cannot be overstated.’

‘Deep bench of talented securitization attorneys at all levels across a wide variety of asset classes. Strong and complementary tax and regulatory practices. Very commercial and practical advisers. Willing to go the extra mile to close transactions on short notice. Willing to invest in a client relationship.’

‘Extremely responsive and able to mobilize resources to quickly address urgent requests. Reliably provide innovative solutions to complicated and often unexpected transactional issues.’

‘The depth of knowledge within Morgan Lewis’ securitization team is remarkable. The team has the historical knowledge to understand the issues shaping today’s transactions, and foresight to anticipate where the market is trending. In addition to the technical expertise, the team excels at delivering practical, solutions oriented advice when issues on transactions arise.’

‘Geordie Herald is an expert in the RMBS market, well versed in the active platforms and their idiosyncrasies. He brings a calm gravitas to negotiations, and has the experience needed to navigate through unexpected challenges.’

‘Deep knowledge of auto finance securitization, combined with experience in other asset classes, helps sort through structuring and disclosure issues.’

‘Reed Auerbach provides excellent client service, always brings in the right firm resources, and is a practical problem solver.’

‘We value Phil Russell for his encylopedic knowledge, calm demeanor in every situation and keen ability to analyze novel issues.’

‘Leah Sanzari has done a great job of pulling together a team of professionals with expertise in a variety of asset classes. She has represented us well on Private ABS transactions and helped us establish standards for a long-term investor in an ABS transaction. She is business-oriented and does a good job of framing issues so that we can craft solutions that are a win-win for both sides.’

‘Leah Sanzari does a great job leading the team, Thomas Mitchell is an excellent and knowledgeable bankruptcy partner, and Jonathan Ayre provides the needed expertise in the energy, oil and gas space.’

‘Technically excellent, providing practical advice and are willing and able to field experts across the board to assist with problem solving and general day to day advice.’

‘I think that Clifford Chance provides “white glove service”. They are by far the best in class. They know what in-house counsel and business people want and CC delivers it without prompting. The major difference is that when they present a problem or issue they also present possible solutions and a suggested path forward. They are very commercial and get deals done. Their entire team consists of very personable lawyers that you enjoy working with.’

‘They handle a wide variety of financing technics for our asset class. We can use them for securitization, secured lending, and new financing structures.’

‘Strong structured finance expertise that comes into play when deal issues arise – confidence that we have the right backing. Limited management needed – conversations are quick and people get to work and do the needful – helps free us as business leaders to focus on our business. Personal relationships are strong – easy to communicate when relationships are strong – formality becomes unnecessary. Will go above and beyond scope of work to complete tasks which is always appreciated.’

‘LOVE working with Lee Askenazi and Peter Manno. Easy to work with, strong expertise in the areas important to us, always go outside scope to ensure transactions are completed and feels like we don’t need to spend a lot of time on deals or tasks where they are involved which is invaluable to us.’

‘Robert Villani leads our service team. The team does securitization work for our CLO business. Robert and his team provide excellent advice and service in this highly specialized area.’

‘This practice has a track-record in working with technology-driven platforms to issue precedent asset class transactions, think through complex asset and business model considerations, and provide a high level of partner-drive attention to individual mandates and deals. Timeliness, precision and quality of the legal work product have all been world class compared to any other major structured finance law firm I have worked with.’

‘Andrew Sroka has stood out as one of the best lawyers I have worked with in my career with structured finance. His attention to detail, thoughtful approach, ability to execute and deliver superior results on time and collaborative approach to helping us build our business has been extraordinary.’

‘Key strengths are the ability to understand the commercial mindset and find solutions that work for the business while still focusing on important legal points.’

‘Deep bench with partners who stay involved in a cost efficient manner.’

‘Smart, hard working, business minded, lack of ego.’

‘Smart, well-versed in all techniques and a burning desire to do right by the client.’

‘Ryan McNaughton is a problem solver extraordinaire. Katie Weiss is really good at drafting/doing deals.’

‘An intense depth of knowledge based on long experience means I can rely on Paul, Weiss for timely and thoughtful analysis no matter what comes up. There is never an occasion when this team in challenged or stumped.’

‘Jordan Yarett and his team know more about niche transactions than almost anyone in the world. When you add pragmatism, clear eyed analysis and advice that is always timely it.’

‘Whole business securitization experience has proven valuable to make sure we have best in class terms and service.’

‘Excellent CLO team! They know the law but more importantly, they know the market.’

‘Craig Stein is very engaged with all aspects of CLOs and is happy to advise on even the smallest of requests.’

‘Craig Stein brings market insight and a level of professionalism to each deal. He is responsive and gives trusted advice when called upon.’

‘Super professional, very fast, detail oriented, and reasonable from a business perspective.’

‘Stephen Schauder has been an outstanding representative for us.’

‘Creative, thoughtful practice that consistently keeps us aware of market and document changes.’

‘Craig Stein has proven to be thoughtful and helpful working with us on our securitization platform for almost a decade. He’s our “go-to” guy.’

‘Leading CLO (issuer counsel) firm that is both creative and experienced. Helpful is structuring new products and funds for the market.’

‘Craig Stein is highly experienced, market aware, and creative in how he thinks about the documents in securitization. We’ve used him on all our CLOs to date.’

‘Focused on practical issues, avoid over lawyering and focuses on core issues.’

‘They are really good at presenting practical solutions and interpretations. They are also consistently efficient, never running up a bill with unnecessary academic analysis. They also easily move between speaking with lawyers and business teams.’

‘Craig Stein gives us a practical view on every issue. He sees the market and helps us understand what others do on various issues. He also balances his legal view and what we need to accomplish as a business.’

‘SRZ is one of the top firms for CLO manager representation, and we use them as deal counsel as well. There are a few other firms that are just as capable, but the team at SRZ with whom we work has a better client service and attention to detail.’

‘Phil Azzollini at SRZ is our go-to for CLO management work. Phil’s work ethic, attention to detail and consciousness of our firm’s needs are unmatched.’

‘This practice is unique in that they have a greater ability to be creative, problem solve, and critically analyze, in addition to execute.’

‘Lots of firms have capabilities in developed markets to execute and provide market advice. This firm can create products and markets where they previously didn’t exist before.’

‘David Thatch does not accept precedent as the only way to do things. Creative problem solver. Has created many innovative and firm time solutions. I go to him when I need to think about how to solve a problem, not just when I need to execute. Interested in the business (and the math behind the business) in a way that many lawyers are afraid of getting into. Helps make his advice all the more useful.’

‘Jim Fogarty tireless worker, sound advice, trustworthy, market knowledge/expertise.’

‘They are expert in a wide away of structured products, assisting with derivatives, repo and financing arrangements’

‘David Lucking has been great. Expert in derivatives and great at pulling teams together with various expertise to advise on complex issues.’

‘Depth of market knowledge and practice band-with; very responsive; very pragmatic and solutions-oriented in negotiations’

‘Lawrence Berkowitz and Nicholas Robinson are incredible. Their respective depth of market knowledge, pragmatism, responsiveness and client service are best in class.’

‘The CLO team is top notch – they are responsive, pay attention to client needs and are innovative. They also have a very deep bench. All in all they provide top notch service.’

‘Larry Berkovich and Chris Jackson are two of the most dedicated and responsive attorneys I’ve ever worked with.’

‘Deep expertise. Many years of complex and unique transactions in the aircraft space.’

‘The lead partner is always available and responsive. He also is quite proactive with respect to developments in the industry and regulatory landscape.’

‘Patrick Dolan is highly engaged and responsive. He’s easy to work with and understands our needs.’

‘Norton Rose has an incredible global footprint which gives the firm the ability to advise on deals across a broad range of jurisdictions, in many cases, where experienced structured finance lawyers are hard to come by.’

‘Elana Hahn brings world-class structured finance expertise to the Canadian market. As a New York and London based investor, we rely heavily on her ability to advise us on the Canadian market relative to our experience in the US and Europe. She is our first call on all things Canadian.’

‘Patrick Dolan has strong expertise in esoteric asset classes and consistently provides impressive client service.’