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Dentons

Capital Markets: Securitization

6 ranked lawyersBand 2USA - NationwideUSA 2021 View ranking table
chambers review
department information
Ranked Lawyers
chambers review
department information
Ranked Lawyers

Chambers Review

Chambers Research is conducted by 200 Research Analysts, across 200 jurisdictions and provides nearly 6,000 rankings tables. Annually we collect hundreds of thousands of responses from clients, the majority via in-depth interview. Learn more about our methodology.

What the team is known for

Represents the full range of players in the market including issuers, underwriters and originators. Acts on both domestic and cross-border securitization matters, leveraging its significant international standing. Demonstrates notable strength in real estate financings, such as RMBS transactions and Single Family Rentals, with additional expertise in MSRs. Also stands out for its ability to assist with the securitization of traditional and esoteric ABS.

Strengths

"They are super responsive, their bench is extremely deep and there are a lot of people who are all very good," says one impressed client, who also reports: "I like the fact that they are commercial and they are not just lawyers, but they understand how transactions work and what motivates them."

Sources say that when it comes to transactions, "they are very good at residential mortgages and related esoteric assets."

Interviewees say: "They are very strong in capital markets and they put the right person on the right job - we are very pleased with them."

Work highlights

Acted for an international manufacturer of medical equipment, including ventilators, in connection with a $100 million trade receivables securitization used to fund increased production of ventilators required during COVID-19.

Represented New Residential Investment as issuer of MSR-collateralized notes valued at $425 million.

Acted for Blackstone Residential Operating Partnership as the sponsor, depositor and issuing entity in a $265 million securitization backed by business-purpose, non-owner-occupied, fully amortizing residential mortgage loans.

Notable practitioners

Prominent securitization practitioner Erik Klingenberg advises financial institutions on transactions involving complex esoteric assets and he also boast significant expertise in mortgage-backed securities, especially in the single family rental market.
"His background in bankruptcy law gives him an interesting perspective on esoteric matters that have a bankruptcy risk." "He produces good quality work and he has a strong client following."

Maria Livanos ' practice is broad, ranging from CLOs to whole business securitizations, making her the leading trustees' counsel in the market.
"Maria does some of the most sophisticated deals." "She thinks about the practicabilities of changes on deals." "She is a go-to trustees' counsel."

Scott Swerdloff regularly advises on RMBS transactions, with key market experience including advising on complex structures, such as non-QM mortgages.
"Scott Swerdloff is a mortgage expert in RMBS who has been in the industry for a while, and he is well liked by in-house counsel; he has a very calm manner, he approaches things very professionally and he is very smart." "He does not get bogged down in things that do not have material effect."

Stephen Kudenholdt is highly acclaimed for his securitization practice, focusing on public and private mortgage-backed transactions.
"The king of the industry in that space." "He is a thought leader who is a great advocate for his clients and for the industry."

Department Information

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Capital Markets: Securitization

Dentons

firm
Location

233 South Wacker Drive

Suite 7800

Chicago

Illinois

USA

IL 60606-6404

View Firm Profile

Ranked Lawyers

Chambers Research is conducted by 200 Research Analysts, across 200 jurisdictions and provides nearly 6,000 rankings tables. Annually we collect hundreds of thousands of responses from clients, the majority via in-depth interview. Learn more about our methodology.

USA - Nationwide

Capital Markets: Securitization: ABS


Erik D Klingenberg
Band 3

Capital Markets: Securitization: MSR


Erik D Klingenberg
Band 1

Capital Markets: Securitization: RMBS


Scott Swerdloff
Band 2
Stephen S Kudenholdt
Band 1

Capital Markets: Securitization: Single Family Rental


Erik D Klingenberg
Band 2

Capital Markets: Securitization: Trustee Counsel


Maria Livanos
Band 1