At Cadwalader, Wickersham & Taft LLP, known as ‘a top law firm for companies interested in engaging in structured finance transactions’, the securities group sits within the firm’s well-respected capital markets practice. In addition to mortgage-backed securities, the group has vast experience in CLOs and asset-backed securities. In New York, Mike Gambro leads the firm’s work on Freddie Mac’s multifamily loan securitization program. He jointly heads the team with Charlotte’s Stuart Goldstein , who is a key name in the commercial real estate CLO practice. New York’s Neil Weidner is a veteran of the structured finance arena; Gregg Jubin, managing partner of the Washington DC office, leads on asset-based finance transactions, including in relation to corporate and auto loans. Michelle Abad is an expert in mortgage-backed securities and mortgage servicing rights securitization notes.

Hunton Andrews Kurth LLP's structured finance and securitization practice is closely aligned with the firm's restructuring, bankruptcy, M&A and energy departments, and draws on close links with east coast financial institutions, resulting in an impressively broad offering. In 2021, the team was increasingly instructed on distressed and rescue financings, as well as capital and fund formation deals. Areas of particular expertise include master trust securitizations, blockchain originated consumer loans, triple-net leases, in addition to more exotic asset classes, such as litigation finance and agricultural loans. Lawyers are also adept at CRE CLO structures. In New York, Tom Hiner  is an expert in securitizations involving mortgages, and co-chairs the practice alongside Richmond's Mike Nedzbala, also a mortgage-related securitization specialist. Amy Williams  in Richmond advises borrowers and lenders on structuring and closing asset-based finance transactions, covering residential and commercial loans; while in the same office, Cecelia Horner provides assistance with the income tax aspects of domestic and international secured financings. Brit Mohler Dufilho is also recommended.

Mayer Brown ‘s structured finance team is praised by clients for its ‘incredible depth and breadth of knowledge‘ under the leadership of Chicago’s Julie Gillespie , who is a leader in the credit card securitization space, and Ger O’Donnell, who specializes in warehouse financings, asset purchases and 144A placements. Also in Chicago, Stuart Litwin  receives plaudits as a leader in auto ABS, former practice head Jon Van Gorp is well-known for RMBS transactions and Angela Ulum is a leader in the field of auto and equipment loans. In Charlotte, Carol Hitselberger  has experience across a variety of loan securitizations. New York’s Paul Jorissen  has a strong practice in the residential mortgage market. Ryan Suda is an expert in CLOs.

Morgan, Lewis & Bockius LLP‘s team is commended by clients for its ‘experience across a variety of asset classes that it is able to leverage to best deliver for their client.’ The firm brings to bear a sizeable team, which has expertise across deals revolving around financial services, automotives, education, fintech, real estate, telecoms and technology assets. The department is jointly led by Reed Auerbach in New York, who is an asset- and mortgage-backed securities expert, and Washington DC’s Jeffrey Johnson, whose specialisms include public and private securitizations involving real estate. In New York, Matthew Joseph has experience in balance sheet and commercial paper conduit transactions and Steve Levitan  focuses on student and auto loans, as well as residential solar panel installation financing loans. In Washington DC, Asa Herald is known for RMBS transactions. In April 2021, the group in Washington DC was joined by Steven Becker and Alex Velinsky from Hunton Andrews Kurth LLP.

At Orrick, Herrington & Sutcliffe LLP, lawyers are adept in handling asset-backed securities issues, with a strength in credit card securitizations. The team is also known for its asset-backed securities work and instructions from the fintech space. Another area of expertise is commercial and residential mortgage securitizations. The group is chaired by New York’s Alan Knoll, a high-flying asset-backed securities lawyer. Knoll’s vice-chair is New York’s Robert Moyle, whose transactional expertise is matched by proficiency in securities regulation. Also in New York, Leah Sanzari is described by clients as ‘a foremost expert in esoteric structured finance products‘, while William Cullen has a notable CMBS practice. Joining the Washington DC office from Chapman & Cutler LLP in July 2021, Michael Mitchell is a well-regarded consumer ABS expert with previous experience serving at the SEC.

Allen & Overy LLP‘s New York-based securitization practice provides a full service to clients, comprising underwriters, arrangers and US domestic and foreign issuers. The group is most known for its CLO work, and lawyers have experience in advising investment banks on the development of their CLO and warehousing platforms. Asset-backed securities are another strength, as are automotive, aircraft and equipment securitizations. Joint figureheads are Lawrence Berkovich, who focuses on syndicated and mid-market CLOs, also an area of specialism for co-head Nick Robinson, John Hwang, who has experience in SEC-registered offerings and private placements, and Christopher Jackson. Senior counsel Tracy Feng is another key individual with knowledge in property assessed clean energy transactions.

Clifford Chance‘s New York-based team works closely with the firm’s tax practice, utilizing the expertise of James Gouwar  to provide comprehensive support to clients on a wide variety of securitizations, with particular expertise in RMBS and CMBS deals, as well as CLOs. The group is also well-versed in marketplace, consumer and student loan deals, as well as asset-backed securitizations. ‘Substantively knowledgeable and excellent‘, Robert Villani focuses on CLOs and loan securitizations and jointly leads the team alongside real estate-sector expert Lee Askenazi. Dual English and New York-qualified Gareth Old  is an expert in risk-transfer transactions and collateralized fund obligation deals. In Washington DC, Robert Hagan  focuses on private securitization and re-securitization pertaining to asset classes including performing and non-performing new origination and seasoned residential mortgages.

Dechert LLP‘s asset finance securitization practice spans a variety of transaction types, including commercial real estate deals, CMBS, resi-securitizations, CLOs and ABS, with a strength in esoterics. Leading the team from New York is Laura Swihart, who is most noted for her abilities in the CMBS arena, as well as heading the firm’s relationship with Freddie Mac. In Philadelphia, David Forti also leads on real estate-related securitizations. New York’s Richard Jones heads the CMBS sub-group, also advising on LIBOR transition issues, while Ralph Mazzeo specialises in residential mortgage-backed products. In Charlotte, Christopher P. Duerden leads the global CLO group, supported by John M Timperio.

At Dentons, the securitization practice sits within the firm’s capital markets department. The team is most known for their capabilities in the real estate finance and mortgage sectors, with a solid client roster of issuers and underwriters. An area of particular expertise is securitizations of non-performing and re-performing mortgages, but the group is also well-versed in triple-net lease commercial real estate, residential rental properties and residential mortgage-backed securities. The team is led from New York by Stephen Kudenholdt, whose practice includes real estate and asset-backed securities offerings, and Erik Klingenberg, who is noted for CLOs. Also in New York are Scott Swerdloff and Robert Olin.

DLA Piper LLP (US) is a stalwart of the asset-backed securities space. The group has considerable expertise in CLOs, as well as more esoteric transactions, such as data center and whole-business securitizations, insurance-linked securities and solar deals. The team is led from New York by Richard Reilly, who has a strong track-record in CLOs. In Boston, Andrew Sroka has experience in non-traditional asset classes including fintech small business loans and student debt. Both based in New York and core members of the CLO practice are Jay Williams , who joined from Schulte Roth & Zabel LLP in February 2021, and John F. Murphy III.

Katten's structured finance and securitization department has a high-volume practice spanning consumer and commercial finance, esoteric and one-off transactions. In terms of novel deals, the group has experience in lottery and municipal receivables, as well as renewable energy and refund anticipation loan securities. Taking the lead are Washington DC’s Anna-Liza Harris , an asset and-mortgage-backed securitization expert, and New York’s Howard Schickler , whose broad practice includes mortgages, auto loans, equipment leases and credit card receivables. In Washington DC, Claudine Chen-Young  is an expert in mortgage-backed securities. In New York, John Keiserman  is known for deals involving motor vehicle collateral.

With a ‘very business-focused mindset‘, King & Spalding LLP‘s securitization lawyers in New York advise on receivables financing, hybrid structured and leveraged credit facilities and term notes, as well as privately placed and publicly issued securitization deals. The group has a sizeable real estate-based practice, which often overlaps with its esoteric asset work, that includes healthcare and trade receivables securitizations and mortgage repurchase transactions. Michael Urschel  is the practice head, with recent experience in securitizations of restaurant concepts, digital infrastructure and cellular towers. Ryan McNaughton is an expert in esoteric ABS deals, while Jonathan Arkins‘ esoteric practice extends to data centres and intellectual property licensing streams. Terry Novetsky is a specialist in loan asset securitization programs. Senior associate Kathryn Weiss is another stand-out team member.

Kirkland & Ellis LLP has a broad practice, with a notable private equity and portfolio company client base. The team has a strong reputation for whole-business securitizations, and has particular experience in structures involving exotic assets, including floorplan loans, healthcare and credit card receivables, as well as operating assets such as oil and gas receivables. Auto and equipment securitizations are another core part of the practice. Jointly leading the group are Chicago’s Jeffrey O’Connor and New York’s Janette McMahan, a specialist in auto loan and lease transactions, as well as single-family rental deals and whole-business securitizations. In Dallas, associate Rudgee Charles is building a solid asset finance and securitization practice.

Latham & Watkins LLP advises all market participants in a variety of transactions involving commercial and esoteric assets, including aircraft leases, cell and broadcast towers, rental car fleets and whole-business securitizations. The group is also well-versed in more traditional securitizations, such as CLOs, cash and synthetic securities and those involving trade receivables. The key name in the US is global vice-chair Loren Finegold , who is based in New York, as is former global co-chair Kevin Fingeret , whose focus is esoteric and operating assets. In Los Angeles, Vicki Marmorstein  has broad expertise including pertaining to CLOs. Chicago’s Ellen L. Marks  is an expert in credit card securitizations.

At Paul Hastings LLP, the team advises arrangers, collateral managers, lenders, borrowers and investors in a wide variety of CLOs, bringing together securities lawyers with practitioners from the finance, tax, regulatory and restructuring departments, as well as experts in employment and investment law. Sitting in Washington DC, Scott Faga leads the group, drawing on experience in CLOs and knowledge in regulatory issues. New York’s Nicole Skalla and Eugene Ferrer, who is praised as ‘extremely knowledgeable, quick to respond and thorough‘, are also key lawyer for CLOs. Also in New York, ‘one of a kind‘ senior associate Nicole Bright is commended by clients for her ability ‘to push through multiple deals seamlessly in the midst of historically high deal volume‘.

Clients rate the ‘deep technical expertise' of the team at Paul, Weiss, Rifkind, Wharton & Garrison LLP whose esoteric securitization practice is respected across the market, led from New York. Of note in 2021, the team continued to advise the California Public Utilities Commission on securities issues arising from the California wildfire cases. It is also a key destination for intellectual property and whole-business securitizations. In addition, the group has experience across the spectrum of asset-backed securities. The group is led by Jordan Yarett, known for whole-business securitizations. Charles Pesant has a varied practice that includes domestic and cross-border commercial vehicle and equipment fleet securitizations, as well as securities of intellectual property and franchise agreements. Robert Zochowski Jr. , who is a co-head of the finance group, is a specialist in securitizations and project financings involving esoteric assets. Intellectual property-based securitizations are also an area of expertise for Claudine Meredith-Goujon .

Schulte Roth & Zabel LLP‘s team in New York is singled out by clients as ‘unusually dedicated to results both in terms of speed and meticulousness‘, with a particular strength in CLO transactions. The group has an enviable investment fund and alternative lender client base, and it is regularly called on to advise them in relation to distressed debt, structured finance and corporate debt investments. Esoteric securitizations are another area of expertise, including senior loans, revolving credit, warehouse facilities and commercial paper conduits. Craig Stein  assists issuers, underwriters, collateral managers and portfolio purchasers on a variety of CLOs and co-leads the department with Boris Ziser , whose esoteric securitization practice has gone from strength to strength. ‘Tireless and above all conscientious’, Phillip Azzollini  focuses on private CLO offerings and warehouse financing deals. Daniel Oshinsky  is known for liquidity facilities and structured credits.

Clients believe that Weil, Gotshal & Manges LLP‘s securitization lawyers ‘excel at getting deals done while protecting their clients’ interests vigorously’. In 2021, the group handled significant esoteric securitizations, involving assets including diamond inventories. The group also has an established whole-business securitization practice, in addition to solid ABS and CLO product lines. The department is led by New York’s Frank Nocco, who also co-leads the firm’s global structured finance and derivatives group, and has experience in transactions in the US and abroad. Also in New York, Shawn Kodes has broad securitization experience, spanning auto and equipment loans and leases, consumer and commercial loans, and healthcare receivables; and Jason Smith is well-versed in structuring rental car fleet financings, and vehicle and equipment lease securitizations.

The New York-based team at White & Case LLP sits within the firm’s capital markets group. It has a varied practice that covers non-traditional esoteric assets and CLOs. In additional to transactional advice, the group, which works closely with colleagues in London, Germany, Latin America and Asia, is able to assist with regulatory issues. David Thatch  takes the lead and has become a prominent fixture in the whole business securitization space. Jim Fogarty focuses on whole-business securitizations, collateralized loan obligation issuances and rental car securitizations. Promoted to partner in January 2021, Elizabeth Devine is developing a name for herself in the whole-business securitization space, as well as handling CLO issuances. Senior associate Caitlin Colesanti is also recommended.

Winston & Strawn LLP houses securitization lawyers across its US offices, as well as in Paris and London. The group has a strong focus on esoteric assets, with a number of novel transactions under its belt. Areas of specialism include marketplace lending and fintech securitizations, energy structured finance, aircraft and transport finance; but lawyers are also well-versed in more traditional CLOs and CMBS transactions. Co-leading the department are Los Angeles senior counsel Daniel Passage , a leader in the property assessed clean energy arena and New York’s Jeffrey Stern . In Chicago, Russell Casper has knowledge in compliance issues arising from CLOs and warehouse facilities. Splitting his time between Los Angeles and New York, Francisco Flores is known for securitizations involving asset classes including auto leases, commercial mortgages and home equity loans.

Arnold & Porter‘s structured finance team is most known for asset, mortgage and commercial mortgage-backed securities, in addition to CLO work pertaining to corporate structured credit and commercial real estate. The group is also regularly called upon by financial institutions to advise on the provision of structured acquisition financing. Based in New York, Henry Morriello has broad expertise across the securitization space, particularly involving esoteric assets such as intellectual property royalties, as well as advising on the formation of fintech companies and their fundraising activities. Also in New York, Lawton Camp assists with the securitization of various real estate assets and receivables. Chicago’s Daniel Hartnett , a senior lawyer in the group, has a strong track-record in real estate-related securitizations. Michael Karol in New York has a solid asset-backed securities practice.

Eversheds Sutherland‘s securitization practice sits within the firm’s capital markets department, with a particularly strong offering for ABS and esoteric deals. Jointly heading the group are Lisa Rosen in Washington DC, who specializes in advising clients on real estate finance and capital markets transactions, and New York’s John Benson, whose expertise spans securitized commercial real estate loans, affiliated debt products, structured finance and the resolution of non-performing or sub-performing real estate assets. In Atlanta, Brennan Posner has developed an impressive subordinated finance practice, while Eric Fenichel is known for advising corporate and financial services clients on the securitization of financial assets and liabilities. Counsel Thomas Dugan is based in Washington DC and focuses on real estate-related securitizations.

The securitization team at Norton Rose Fulbright advises issuers, warehouse lenders, underwriters, servicers and investors on warehouse financings, including in relation to solar leases, power purchase agreements, and property assessed clean energy bonds. It also has a strong esoteric asset offering. The group regularly works alongside colleagues in London, Paris and Toronto, enabling a competence in cross-border securitizations. In New York, Patrick Dolan  focuses on asset- and mortgage-backed securitizations, while Andrew Coronios  is an expert in local and cross-border syndicated credit facilities. The duo jointly lead the department with San Francisco’s Eric Tashman , who is notable for his utility securitizations specialism. Also in New York, Adrienne Sebring is another lawyer with a varied transactional practice.

Simpson Thacher & Bartlett LLP‘s predominant focus is on esoteric securitizations. Based in New York, the key lawyer is John Schueller, whose broad expertise spans asset-backed commercial paper, aircraft leases, airline ticket and credit card receivables and future revenue streams. He advises both underwriters and issuers, as well as parties in acquisitions where securitizations are involved.