Corporate Finance Practice
Structured Finance and Securitization
Our securitization team is headed by Michael Braun, who has more than 30 years of securitization and structured finance experience, and senior level attorneys with multi-dimensional legal backgrounds including securities litigation, ERISA, bankruptcy and mortgage securitizations.
Prior to Mr. Braun’s role at DOCB, he was a partner in the securitization departments at Morgan, Lewis & Bockius LLP, McKee Nelson LLP, and Brown and Wood LLP (now known as Sidley). His practice has involved representing major investment and commercial banks, issuers, loan originators, secured creditors, and investors in complex structured finance and other finance transactions. Mr. Braun has served as dealer counsel on single-family and multi-family FNMA and FHLMC mortgage transactions. He has extensive experience structuring transactions in accordance with the intended business goals and applicable laws, as well as evaluating, drafting and negotiating disclosure and transaction documents, and providing legal opinions relating to mortgage and asset-backed securitizations. Mr. Braun’s experience includes repurchase financings as well as whole loan and other asset purchases.
Mr. Braun’s mortgage securitization experience also includes REMIC and non-REMIC securitizations of performing and non-performing residential mortgage loans. He has experience with a multitude of asset types, including closed-end and revolving home equity loans, second lien mortgage loans, reverse mortgages, manufactured housing contracts, small commercial mortgage loans, mixed-use mortgage loans, servicing rights and advances and resecuritizations of private label and GSE collateral.
Recent Experience
Beginning in 2024, DOCB has served as co-Legal Counsel Advisor to a federal agency. In this capacity, we have provided legal services in connection with the successful closings of more than 25 Guaranteed REMIC Pass-Through Securities transactions. Our representation includes a comprehensive review of the various transaction documents, including Offering Circular Supplements, REMIC Securities Guaranty Agreements, trust agreements, legal opinions and other transaction documents for legal sufficiency and consistency with business term sheets and for compliance with the requirements.
Other Transactional Experience
DOCB has represented financial clients in commercial and residential foreclosures, as well as a variety of matters under the Uniform Commercial Code (“UCC”). In connection with his securitization practice, Mr. Braun has been involved with pledges of master servicing rights, servicing advances, and other Article 9 UCC collateral types.
Jim Lenaghan, Of Counsel to DOCB, previously held the position of Executive Director of the New Jersey Life & Health Insurance Guaranty Association and, in such capacity, was responsible for the administration of various health insurance company insolvencies. Mr. Lenaghan and his team evaluated the collateral interests in assets held by the insurance companies and attempted to collect as much as possible from these interests and minimize future liabilities.
The Firm’s attorneys have successfully represented a number of financial institutions that, as investors in pools of mortgage loans, had disputes relating to the origination and servicing of the underlying loans.
Bankruptcy
DOCB attorneys have represented lenders, creditors, and government agencies in active bankruptcy cases. Our firm is experienced in examining consumer bankruptcy cases, assessing and preparing strategies to protect client interests, bankruptcy motion practice, objections to debtor proposed plans, and examinations of debtor documents including petitions to assert claims on behalf of clients. DOCB has successfully negotiated with debtors’ counsel to assert claims and address issues related to inadvertent and advertent omissions from bankruptcy schedules to protect debts from discharge.
Our attorneys have also represented creditors within large corporate restructuring cases by reviewing proposed reorganizational plans and competing plans and protecting interests. In addition to creditor representations, DOCB’s attorneys have experience representing retail debtors and corporate debtors during all aspects of the reorganizational process from the first day through the confirmation of plans.
Transactional Insurance Advice
DOCB provides transactional advice on state insurance and annuities regulations in connection with the development of new products and the operation of existing products.
Our firm also advises clients on litigation readiness and has been instrumental in fostering program-wide proactive approaches to discovery to increase success and cost-effectiveness.
ERISA
Since 1987, DOCB has handled sophisticated, complex ERISA litigation and plan review representing administrators, insurers, and self-insured plans throughout New York, New Jersey, and Pennsylvania.