Praised for its ‘expertise, dependability, and innovation,’ Dentons’ securitization practice advises on a broad range of asset‑ and mortgage‑backed transactions, spanning ABS, RMBS and CMBS, with a strong focus on real estate finance. Co‑leading the team from New York, Stephen Kudenholdt concentrates on residential mortgage loan securitizations, while fellow co‑head Erik Klingenberg handles green data‑center ABS, auto securitizations and triple‑net‑lease deals. Scott Swerdloff represents underwriters and issuers in business‑purpose, investor‑loan, non‑QM and residential term‑loan securitizations. David Natter advises on CLOs, esoteric financings and whole‑business securitizations, and Robert Olin is active in esoteric ABS. Marlo Young focuses on acquisitions, financings and HELOC securitizations. Other key contacts include Kyle Matula, who is particularly active in CLOs and warehouse financings. All lawyers mentioned are based in New York.
Legal 500 Editorial commentary
Accolades
Client satisfaction: NPS ®
Testimonials
Collated independently by Legal 500 research team.
‘The team is knowledgeable and innovative. They helped us design an innovative tax structure and it has turned into the market standard of structures in the space.’
‘The team brings an outstanding combination of expertise, dependability, and innovation. Their ability to provide accurate, thorough, and actionable reviews paired with a collaborative and service-oriented approach makes them a uniquely strong partner for clients navigating complex trust and agency transactions. They consistently deliver the clarity, confidence, and execution support that clients need in a rapidly evolving legal and regulatory environment.’
‘The team of Kyle Matula and John Lucas Varney distinguish themselves through a rare combination of technical expertise, professionalism, and genuine client commitment. Each team member brings a deep understanding of the complexities inherent in corporate trust documentation, and they apply that knowledge with accuracy, clarity, and consistency.'
- 'They stand out not only for what they know, but for how they work—approaching every engagement with a solutions-oriented mindset and an authentic willingness to assist. Their ability to adapt to changing deal dynamics and communicate clearly makes them exceptional partners.'
Work highlights
Represented Saluda Grade as issuer and sponsor of Grade 2024-FIG5, a US$248 million rated securitization, and 2024-HE1, a US$362 million rated securitization of home equity lines of credit (HELOCs) originated through a blockchain-based platform.
Represented New Residential Investment Corp. as issuer and sponsor in NZES 2024-FNT1 and NZES 2025-FHT1, two Fannie and Freddie MSR securitizations with an aggregate value of US$1.34 billion, and the first and only to-date non-recourse MSR securitizations.
Represented Agora Data, Inc. as issuer in ACAST 2025-1, a US$112 million securitization backed by retail installment loans on new and used auto vehicles, a transaction which significantly improved access to capital markets funding for “Buy Here Pay Here” (BHPH) pre-owned auto installment-purchase financiers.
Lawyers
Leading partners
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.
Practice head
Stephen Kudenholdt; Erik Klingenberg
Other key lawyers
Scott Swerdloff; David Natter; Robert Olin; Marlo Young; Kyle Matula; John Lucas Varney