Practice Areas & Industries: Greenberg Traurig, LLP

 




Structured Finance & Derivatives Return to Practice Areas & Industries

Group Profile Lawyers in this Group Offices Locations for this Group
 

Practice/Industry Group Overview

The structured finance markets have traditionally been characterized by continual innovation and modification, product diversification and globalization – an environment that requires the ability to both recognize opportunities and manage risk. In the current market environment, innovation is even more important to manage the risks associated with structured finance transactions that are either in default or near default. Restructurings and workouts of existing transactions are now important components of any structured finance practice.

Greenberg Traurig’s structured finance and derivatives attorneys have participated in securitized and structured products encompassing almost every asset class in the mortgage, asset-backed, municipal and structured products markets. Through our representation of virtually every type of market participant – from major financial institutions and Fortune 500 companies to specialty finance companies – we have a breadth of experience to offer our clients. Due to our wide-ranging experience with the various asset classes and structured products, we are well positioned to help clients resolve issues relating to structured finance transactions that are, or will soon be, in default.

Our structured finance and derivatives attorneys utilize GT’s far-reaching U.S. and international platform to provide clients with global legal services. We have experience in a wide array of U.S. and international transactions and represent clients in U.S.-based transactions, offshore offerings, and cross-border securitizations, as well as workouts of distressed securitization transactions, restructurings of synthetic transactions and close-outs of derivative transactions. While we have developed complex securitization techniques and structured derivatives products for new asset classes, we also regularly handle routine transactions where efficiency, accessibility and cost minimization are essential.

Legal Services

  • Represent investors, issuers, underwriters, placement agents, lenders, servicers, trustees, custodians and providers of derivative products
     
  • Advise on various aspects of government initiatives, including the Term Asset-Backed Securities Loan Facility (TALF), the Public-Private Investment Program for Legacy Assets (PPIP), and the Troubled Assets Relief Program (TARP)
     
  • Structure and negotiate a wide range of domestic and international mortgage-backed, asset-backed, tax-exempt, project bond, future flow and bond-backed securities, as well as derivatives, structured products and structured investment vehicles
     
  • Advise on workouts of distressed securitization transactions and distressed investment opportunities
     
  • Advise on close-out netting of derivative contracts
     
  • Advise on restructurings of synthetic transactions
     
  • Advise on securities, commodities, banking, tax, ERISA and bankruptcy laws and regulations affecting capital markets transactions
     
  • Assist with governmental and regulatory authority filings, compliance and audits
     
  • Represent financial institutions and investors in structured derivatives, swaps and related derivative products
     
  • Advise on regulatory issues affecting structured finance market participants
  • Represent both institutional lenders and borrowers in facilities secured by a variety of collateral

Experience with a Wide Range of Structures

  • Commercial paper and other conduit structures
     
  • Structured warehouse and master repurchase agreement (“repo”) facilities
     
  • Owner trust and master trust structures
     
  • REMIC transactions
     
  • Liquidating trust structures for distressed loans and assets
     
  • Whole loan trades
     
  • Debt-for-tax transactions
     
  • On balance sheet and off balance sheet structures
     
  • Senior/subordinate structures
     
  • “Wrap” or "partial guaranty" transactions with monoline insurers and multilateral agencies
     
  • Hybrid structures with swaps, caps, guaranties, overcollateralization, excess spread or reserve funds
     
  • Foreign currency and foreign collateral trust structures

Representative Structured Products and Derivatives Experience

  • Total return swaps, credit default swaps, first to default swaps and accreting basket swaps
     
  • Puts, calls, knock-in and knock-out options, and variance swaps
     
  • Warrants
     
  • Prepaid forwards and other forward delivery contracts and futures contracts
     
  • Synthetic CDOs and securities
     
  • Structured investment conduits
     
  • Structured equity derivative products
     
  • Structured credit derivative products
     
  • Principal protected derivative products
     
  • Highly leveraged derivative products
     
  • Fund-Linked Derivatives
     
  • “Plain vanilla” repo, swap and derivative transactions

Representative Asset Class Experience

  • Single-family prime, subprime and Alt-A residential mortgage loans
     
  • Commercial and multifamily mortgage loans
     
  • Distressed and non-performing residential and commercial mortgages and REO
     
  • Aircraft leases
     
  • Airport concessions
     
  • Auto leases and loans
     
  • Boat and recreational vehicle loans
     
  • Cash value receivables of insurance policies
     
  • Credit cards
     
  • Equipment leases and loans
     
  • Receivables (truck lease, trade, merchant voucher, telecom)
     
  • FHA/VA insured mortgage loans
     
  • Foreign construction and mortgage loans
     
  • Foreign government obligations
     
  • Franchise loans
     
  • Future flow receivables, including MT-100 payment rights
     
  • GSE-backed loans
     
  • Home equity loans, home equity lines of credit and high LTV junior lien loans(“125s”)
     
  • Intellectual property royalties
     
  • Life settlements
     
  • Loan participations
     
  • Manufactured housing contracts
     
  • Net interest margin transactions
     
  • Resecuritized mortgage-backed securities
     
  • Securitized legal fees from litigation settlements (tobacco settlements)
     
  • Single obligor receivables
     
  • Stranded costs and other utility assets
     
  • Student loans
     
  • Tax liens
     
  • Toll road concessions
     
  • Venture capital receivables
     
  • 12b-1 fees

 

Services Available

 
Group Presentations
  Taxation of Financial Instruments & Transactions Conference 2009, Mark Leeds Speaker, New York, New York, January 15, 2009
 
Past Seminar Materials
  ASF 2013, January 27, 2013
ASF 2009, Las Vegas, Nevada, February 8, 2009
 
 
Articles Authored by Lawyers at this office:

A Brief Recap of Recent Regulatory Actions Regarding Short-Term, Small-Dollar Lending
Robert E. Bostrom,Peter L. Cockrell,Brett M. Kitt,Gil Rudolph,J. Scott Sheehan, December 09, 2013
Providers of short-term, small-dollar loans, including deposit advance products and payday loans, have increasingly come under attack in recent months by Federal and State regulators. These attacks have been both collateral and direct and they appear to be close to reaching a dramatic crescendo. A...

On Party Line Vote, House Financial Services Committee Passes Six Bills Aimed at Restructuring the CFPB
Robert E. Bostrom,Peter L. Cockrell,Brett M. Kitt,Gil Rudolph,J. Scott Sheehan, November 29, 2013
On November 21st, the House Financial Services Committee passed six bills aimed at bringing oversight, accountability and transparency to the CFPB. Committee Chairman Jeb Hensarling (R-TX) called the bills “common-sense bills that bring a modicum of accountability and transparency to the...

CFPB Trial Disclosure Program Now Effective
Robert E. Bostrom,Peter L. Cockrell,Brett M. Kitt,Gil Rudolph,J. Scott Sheehan, November 15, 2013
On October 29th, the CFPB’s Notice of Policy regarding its Trial Disclosure Program was published in the Federal Register, thus making the Policy effective. Section 1032(e) of the Dodd-Frank Act permits consumer financial service providers to “conduct a trial program that is limited in...

Federal Financial Regulators Issue Diversity Policy Statement
Robert E. Bostrom,Peter L. Cockrell,Gil Rudolph,J. Scott Sheehan, November 05, 2013
On October 23rd, the OCC, the Federal Reserve Board, the FDIC, the NCUA, the SEC, and the CFPB issued a proposal for joint standards to assess the diversity policies and practices of their respective regulated entities. Section 342 of the Dodd-Frank Act requires each of these agencies to develop...

CFPB Issues Interim Final Rule and Bulletin Clarifying Mortgage Servicing Requirements
Robert E. Bostrom,Peter L. Cockrell,Brett M. Kitt,Gil Rudolph,J. Scott Sheehan, October 31, 2013
On October 15th, the CFPB issued an Interim Final Rule and CFPB Bulletin 2013-12. Both provide clarification regarding certain aspects of the CFPB’s recently published Mortgage Servicing Rule (MSR). The Bulletin provides guidance regarding: (1) policies and procedures for successors in...

CFPB Issues HMDA Compliance Bulletin
Robert E. Bostrom,Peter L. Cockrell,Brett M. Kitt,Gil Rudolph,J. Scott Sheehan, October 18, 2013
In conjunction with the CFPB’s HMDA actions discussed above, the CFPB issued Bulletin 2013-10 on October 9th. The Bulletin sets forth the Bureau’s expectations that lenders will implement compliance programs designed to ensure that they collect and report accurate HMDA data in a timely...

CFPB Removing Enforcement Attorneys from Supervisory Exams
Robert E. Bostrom,Peter L. Cockrell,Brett M. Kitt,Gil Rudolph,J. Scott Sheehan, October 18, 2013
On October 10th, the CFPB announced that it will discontinue its controversial practice of sending its enforcement attorneys to participate alongside supervision examiners in its examinations of supervised entities. This practice had been a major point of contention between the CFPB and the...

CFPB Takes Action against Financial Institutions for HMDA Violations
Robert E. Bostrom,Peter L. Cockrell,Brett M. Kitt,Gil Rudolph,J. Scott Sheehan, October 18, 2013
On October 9th, the CFPB ordered both a bank and nonbank mortgage lender to pay fines for violating the Home Mortgage Disclosure Act (HMDA). The CFPB entered consent orders with Mortgage Master, Inc. and Washington Federal, requiring them to pay to pay civil penalties of $425,000 and $34,000,...

CFPB Issues Report on CARD Act; Identifies Six 'Risky' Card Issuer Practices that May Warrant Scrutiny
Robert E. Bostrom,Brett M. Kitt,Gil Rudolph, October 07, 2013
On October 2, 2013, the Consumer Financial Protection Bureau (CFPB) published a report that both evaluates the impact of recent credit card legislation and identifies several “risky” card issuer practices that may draw future CFPB scrutiny.