What You Need to Know before Entering into Your Next ABS Deal
In this two-hour live webcast, speaker will address the following significant topics
- Overview of the Securitization Deal Terms that Failed During the Last Crisis
- Understanding Substantive vs. Procedural Risk: Who Bears the Risk of Enforcing Various Rights?
- Economic Impact of New Risk Retention Rules under the Dodd Frank Act on Securitization
- Proposed Securitization Valuation Methodology
NERA Economic Consulting
- New proposed risk retention rules and their potential impact on securitization.
Kutak Rock LLP
SECURITIZATIONS – PLANNING FOR PROBLEMS
- Avoiding Groundhog Day: Lessons from Recent Securities Litigation
- Due Diligence/Reliance
- Required Changes:
- New Regulations
- Rating Agency Requirements/Moody’s
- Stronger R/Ws
- Independent pre-securitization reviews
- New Regulations
- Voluntary Changes: Refusing to Continue with Business as Usual
- Everyone had some fault
- Ask what went wrong from the people who just finished cleaning it up
- Substantive vs. Procedural Risks: Ensuring You Can Enforce Your Rights
- Understanding the distinction
- Example: MI vs. Servicer Disputes
- Documents are Important
- Notice and Opportunity to Cure Provisions
- Sole Remedy Provisions
- Things WILL Go Wrong: Best Practices for When they Do
- Overestimating the ability to make business level resolutions
- Involve attorneys/litigators early
Who Should Attend:
- Banking & Finance Attorneys and Lawyers
- Investment Bankers
- Investment Funds and Advisers
- Securities Lawyers
- Financial Institutions, Analysts, Advisers
- Business Professionals
- Personnel with Mortgage and Real Estate Functions
- And Other Interested/Related Professionals
Dr. Sabry received her PhD in Business from Stanford Business School. She has been designated by the American Statistical Association as an Accredited Professional Statistician™. She is the author of various articles on the economics of subprime lending, credit crisis, impact of securitization on the cost of credit and liquidity, econometric analysis of mutual funds’ advisory fees, claiming behavior, and determinants of anti-dumping protection. Her research has been published in Journal of Structured Finance, Journal of Investment Compliance, Journal of Alternative Investments, and others. Dr. Sabry is the lead author of an econometric study on the impact of securitization before and after the credit crisis. She has testified as an expert at trial in State and Federal Courts as well as at a FINRA proceeding on issues related to CMOs, mortgages and mortgage-backed securities.
Dr. Sabry received her PhD in Business from Stanford Business School. She has been designated by the American Statistical Association …
Robert A. Jaffe (D.C.), of counsel in Kutak Rock’s Washington D.C. office, concentrates his practice in complex civil and commercial litigation, including antitrust, banking, business torts, contract disputes, insurance coverage, and securities. He has extensive experience in administrative proceedings and defense of government and agency investigations, as well as over 30 years of experience with leading firms in New York and Washington, D.C., representing commercial banks, financial institutions, high-tech companies, health care providers, and other businesses, officers and investors. His financial institution cases include, mortgage fraud, credit card portfolio, commercial lending, insurance, real estate lending and foreclosure, as well as numerous securitization cases for trustees, investors and insurers. Mr. Jaffe has been the lead counsel in jury and non-jury trials in state and federal courts, and on appeals in the D.C., Federal and First, Second and Forth Circuits. He has worked as part of defense counsel teams on multi-party antitrust and other class action cases. Mr. Jaffe recently headed a multi-lawyer team over five years in a major RMBS litigation, resulting in a significant, favorable settlement. Mr. Jaffe received his J.D. with high honors from the University of North Carolina at Chapel Hill, studied international law at the University of Vienna, and received his undergraduate degree from N.Y.U. He is admitted in the District of Columbia and New York, the U.S. Supreme Court, and other federal courts.
Robert A. Jaffe (D.C.), of counsel in Kutak Rock’s Washington D.C. office, concentrates his practice in complex civil and commercial …
Print and review course materials
Method of Presentation:
On-demand Webcast (CLE)
NASBA Field of Study:
Specialized Knowledge and Applications
NY Category of CLE Credit:
Areas of Professional Practice
2.0 CPE (Not eligible for QAS (On-demand) CPE credits)
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About NERA Economic Consulting
NERA is a global firm of experts dedicated to applying economic, finance, and quantitative principles to complex business and legal challenges. For over half a century, NERA's economists have been creating strategies, studies, reports, expert testimony, and policy recommendations for government authorities and the world’s leading law firms and corporations. NERA brings academic rigor, objectivity, and real world industry experience to bear on issues arising from competition, regulation, public policy, strategy, finance, and litigation. NERA serves clients from more than 25 offices across North America, Europe, and Asia Pacific.
About Kutak Rock LLP
Kutak Rock LLP is a national law firm of more than 450 lawyers with offices from coast to coast. Our firm serves local, regional and national clients in a practice that spans a wide range of disciplines. We encourage our attorneys to take advantage of the national resources and broad range of expertise the firm offers in order to provide the best legal services possible to our clients.
Our firm's primary practice concentrations are business and corporate law, public finance, litigation and real estate law, with numerous areas of specialization. Kutak Rock attorneys work together in well-integrated, national practice groups to maintain and enhance their technical expertise and to reinforce and support one another in achieving client objectives.
We have represented hundreds of state and local governmental units, a substantial number of Fortune 500 corporations, every major investment banking firm in the United States, major European, Asian and domestic money-center banks, insurance companies, national real estate investors and developers, major national franchising enterprises and numerous other financial institutions and businesses.
We have earned a national reputation for finding creative solutions to complex legal issues and for providing excellent legal services in a practical, cost-conscious manner. We maintain that reputation by actively communicating with our clients at the initial stages of each engagement to gain a complete and clear understanding of our clients' desired objectives.
Kutak Rock’s national litigation practice consists of more than 120 attorneys working in 16 offices from across the country. Our clients benefit from this national network because every litigator can draw upon the depth of knowledge and experience of litigators in other offices to ensure best results. Our attorneys undertake a wide variety of litigation matters, and we have significant experience in bankruptcy, business and commercial litigation, construction, employment and labor, energy and environmental, financial services and securities, governmental investigations, health care, insurance, intellectual property, privacy, product liability and mass torts, real estate and risk management. Throughout Kutak Rock’s national network of offices, our trial and appellate attorneys participate in specialized practice groups to ensure that we comprehensively and successfully secure our clients’ objectives.
Over the last few decades, Kutak Rock has secured several hundred if not thousands of successful verdicts and judgments for firm clients. We measure our success by verdicts or awards as well as our clients’ satisfaction in knowing we resolve business problems in the most efficient manner possible. We understand our clients are not in business to litigate. However, we also understand our clients know business disputes and resulting litigation are a cost of doing business. We believe effective advocacy representing our clients’ interests, paired with cost containment practices, enable our clients to meet their business objectives in a cost-effective manner. Through settlement or trial, we are results-driven because we understand the importance of providing clients with a return on their investment.