Structured Finance Michael Thimmig's practice has focused on structured finance and complex financial transactions including bankruptcy remote structures to segregate collateral utilizing special purpose entities (SPE). While the majority of this structured finance experienced has involved residential mortgage loans in both REMIC and non-REMIC transactions, this experience has included commercial mortgage loans, distressed mortgage loans and a number of other financial assets. These structured finance and asset securitization transactions have involved: · Term structures of mortgage-backed securities and asset-backed securities, including liquidating trust structures for non-performing mortgage loans and optional redemptions and clean up call terminations, · Revolving structures through commercial paper conduit facilities and structured warehouse facilities, including master repurchase agreements, and · Other structures for mezzanine, subordinate and residual financings. Mortgage Banking Michael has extensive mortgage banking experience, that includes: · Loan servicing activities and procedures involving the review, analysis and interpretation of securitization and whole loan servicing agreements, · Mortgage servicing rights (MSR) purchases and sales and other loan servicing transfers, · Secondary mortgage market loan purchases and sales on a servicing retained and servicing released basis, · Mortgage warehouse revolving credit facilities (involving repurchase agreements, commercial paper conduit facilities and bank syndicated facilities) and workout and restructurings of warehouse facilities, · Servicer advance and MSR credit facilities, · Litigation support for breach of loan representation and warranty claims, and · Variety of other mortgage banking transactions and operations matters. Asset Based Lending In addition to the experience with asset-backed securities and CP conduit facilities, Michael has significant asset based lending experience including various senior and subordinate term and revolving structures that have been secured by a number of difference assets. This asset based lending experience combined with the structured finance experience has included significant collateral pledge and security interest analysis under UCC Articles 8 and 9. Corporate and Securities Michael also has experience with a variety of general corporate and securities matters including debt and equity private placements, mergers and acquisitions, systematic contract review process and company formation and governance. In-House and Financial Background Michael's background is a unique combination of accounting, business and legal experience, including three years as an in-house attorney with mortgage banking companies in their securitization and capital markets area and, prior to law school, two years as a CPA. When encountering the operational and organizational challenges in structuring and implementing complex financial and corporate transactions, Michael utilizes his legal, accounting and business skills to anticipate, address and formulate practical and cost-effective solutions. Areas of Concentration · Structured finance · Financial institutions
- Capital markets and securitization
- Mortgage banking
- Commercial lending
- Workouts, restructurings and insolvency · Corporate and securities
- General corporate
- Mergers and acquisitions · Financial services litigation
- Secondary mortgage market claims Professional & Community Involvement · Member, State Bar of Texas · Member, American Bar Association Awards & Recognition · Listed, Legal 500 US, 2011 edition · Listed, Texas' Best Lawyers, 2010 · Listed, Best Lawyers in America, 2010 and 2012 · Rated, AV® Preeminent™ 5.0 out of 5 |