Paul A. Jorissen

Paul is an active participant in the structured finance industry. The following are some of his accomplishments as a thought leader in the industry:

• Member of the Structured Finance Association (SFA) Editorial Board
• Former practice leader of the Banking & Finance practice and former member of the global Firm Management committee
• Rated “Standout” for Legal Innovation by Financial Times
• Recognized by Chambers from 2008-present. Paul is regarded as a “standout figure for mortgage-backed securities and asset-backed securities, particularly equipment loans and leases”
• Speaker and panelist at ABS, RMBS and CMBS industry events
• Editor of the treatise titled "Securitization of Financial Assets - Real Estate"

• Commercial mortgage A/B note, intercreditor, participation interests and mezzanine lending.
• Repo financings of securities and residential and commercial mortgage loans, gestation repos and participation sales, related TBA hedges and netting agreements, and GMRA and MRA forms.
• Single and multi-seller commercial paper and medium-term note financings of securities and loans for REIT and mortgage loan originators.
• Whole pool trading of performing, re-performing and non-performing mortgage loans and related servicing and financings.
• Re-REMIC and repackaging offerings, including creating novel structures for the appointment of a collateral manager or holder of power of attorney to direct litigation and other remedies against underlying collateral seller or other parties.
• A mortgage purchase program (MPP) for Federal Home Loan Bank of Indianapolis and other FHLBs, including related transactions and insolvency analysis.
• Covered bond offerings into the United States and Europe, including the IFLR deal of year for a novel covered bond program featuring government guaranteed mortgage loans.
• Non-performing mortgage loan and liquidating trust term securitization financings.

Single Family Rental

• The first-ever sale of a large portfolio of single family rental properties followed by a bridge financing and SFR securitization of the retained seller financing note.
• Term, warehouse, bridge loan and repo financings backed by single family rental properties and related equity interests.
• Property management and related agreements for single family rental properties.

Financial Crisis RMBS and Synthetic Settlements

• An acquisition of a large private label RMBS portfolio post-GSE settlement and complex provisions for the return of post-acquisition settlement proceeds to the seller.
• Numerous RMBS securities settlement agreements with large bank and finance companies including novel provisions for the return of post-closing RMBS settlement proceeds to the seller.
• Structured and negotiated large settlements of super-senior claimants in synthetic CLOs against insolvent broker-dealer estates.

ABS Financings

• Public and private offerings of ABS backed by equipment loan and lease financing and securitizations of heavy equipment, transportation, industrial, commercial, office, shipping and rail road assets.
• Innovative collateralized commercial paper CCP and medium term note MTN structures funding broker-dealer prime brokerage and bank securities in the United States and Europe and related margin, bail-in, risk retention, Volcker and regulation AB analysis.
• Franchise loan finance, securitizations and workouts.
• Trade and commodities receivables financings and securitizations.
• Recent off-balance sheet under GAAP and IFRS transactions for industrial, commodities, telecom, credit card bank, guaranteed investment contract and technology businesses.
• Auction rate preferred notes and extendible commercial paper, collateralized commercial paper, and repo-backed notes.
• Numerous telecom financings of airtime and handset receivables in the United States and Europe.
• Interest rate caps, swaps, market value swaps, TBA, master forward contracts and ISDA.
• Term and warehouse financing of pools of charged-off, defaulted and modified credit card and other secured and unsecured consumer receivables and related licensing and regulatory issues.
• Syndicated and bilateral secured and unsecured revolving and term loan bank facilities.

Esoteric and FinTech

• The first rated offering of term securities backed by LendingClub consumer loans, representing the underwriter.
• A novel restructuring of private equity holdings and a related non-recourse financing for a large life insurer, implemented as part of a capital and asset optimization strategy.
• Numerous large sales and acquisitions of VISA B stock and related conversion ratio swaps and insolvency analysis.
• Cooperatives to acquire inventory and supplies for global franchise operations.
• Numerous financings of standing timber and related contracts and assets.
• A financing for an originator of marketplace loans and the related fintech licensing and consumer regulatory issues.

Risk Transfer

• Large RMBS portfolio transfer and financing for a money center bank in a transaction to achieve risk transfer and GAAP re-classification.
• A credit linked note issued by a large bank backed by a portfolio of synthetic CLO, cash CLO and RMBS in a risk transfer transaction that also reduced regulatory capital.
• Numerous mortgage insurance risk transfer securitizations using CAT bond structures.
• Front-end and back-end credit risk transfer transactions with GSEs.
• A novel restructuring of and non-recourse financing of a multi-billion dollar private equity portfolio for a large life insurer as part of a capital and asset optimization strategy.

M&A and Joint Ventures

• An M&A of a non-prime residential mortgage origination platform, including related regulatory and licensing issues and subordinated debt and financings.
• An M&A of a small business commercial mortgage loan SBC portfolio and related assets, including a simultaneous term securitization financing without a bridge financing facility.
• Joint ventures among a bank, insurance company, asset manager and funds, including the related acquisition and financing of loan portfolios.