Partner

Eric J. Edwardson

Consumer Financial Services

Washington DC +1 202 263 3370

eedwardson@mayerbrown.com

Overview

Eric Edwardson provides a broad range of transactional and business counsel to clients in the mortgage banking, student lending, consumer finance, settlement service and related industries, informed by his knowledge of business and operational practices and the regulatory environment.

Eric regularly assists clients with transactions that are unique to the consumer finance market, including sales and securitizations of loans, sales of servicing rights, servicing and subservicing agreements, loan broker and loan correspondent agreements, origination, underwriting and processing agreements, participation agreements and financing arrangements. In addition, Eric assists clients in the consumer finance industries with customary corporate and business transactions, including mergers and acquisitions through stock and asset transactions, creation of joint ventures, formation and operation of corporate, limited liability company and other business structures, drafting and negotiating employment, marketing, services and other miscellaneous agreements. Eric develops and analyzes business plans and drafts the related business agreements to achieve the desired business result and comply with applicable US federal and state mortgage lending and other consumer finance regulation.

Experience

Represented a nonbank purchaser of Fannie Mae, Freddie Mac and Ginnie Mae mortgage servicing rights in a coordinated program of more than 45 purchase transactions (including bulk and flow) from multiple sellers, with total purchases related to mortgage loans with aggregate balances in excess of $50 billion, during 2015.
Represented a nonbank purchaser of Ginnie Mae mortgage servicing rights in a flow purchase arrangement with seller-retained subservicing.
Represented a banking institution engaged in wealth management in negotiation of agreements for sale of non-conforming residential mortgage loans on servicing retained basis, and in connection with subsequent securitization of loans and related subservicing arrangements.
Represented a trust purchaser of distressed residential mortgage in coordinated negotiation of two agreements for servicing of portfolio with separate servicers.

Assisted a national bank client in review and summarization of terms of approximately 200 residential mortgage loan sale and servicing agreements associated with private label securitizations.
Represented a purchaser of a total of $175 billion of Fannie Mae servicing rights in a series of eight transactions with different sellers.
Represented a national bank in purchase and assumption of servicing rights, issuer responsibility and unsecuritzied balances related to $280 million of reverse mortgage loans in Ginnie Mae securities by from a bankruptcy estate.
Represented a national bank in creating Real Estate Settlement Procedures Act-compliant joint ventures for the origination of mortgage loans with homebuilders and realtors.
Represented a national bank in a special servicer's engagement to service troubled mortgage loans on a nationwide basis.
Represented a national bank in the engagement of student loan default collections service provider.
Represented a national bank in the purchase of national mortgage origination and mortgage servicing platforms and related servicing rights, and negotiated the related subservicing agreement.
Represented a national bank in the purchase of all of the equity interests in a national reverse mortgage company subsidiary of another national bank.
Represented an investment bank in the due diligence review of mortgage servicing rights related to privately securitized pools of mortgage loans for potential purchase.
Represented a national bank subsidiary of a foreign bank holding company in the sale of capital stock of a national mortgage company and $240 billon in mortgage servicing rights.
Represented a national bank in the sale of $140 billion in Fannie Mae, Freddie Mac and Ginnie Mae servicing rights related to Federal Housing Administration-insured and US Department of Veterans Affairs-guaranteed mortgage loans.
Represented a national bank in the engagement of a non-depository mortgage company to provide "private label," mortgage origination and related services.
Represented the mortgage company subsidiary of a nationwide homebuilder in the sale of substantially all of its assets and created a long-term joint venture for future origination of mortgage loans.

Related Services & Industries

Services

Industries

Publications & Presentations

Education

University of Virginia School of Law, JD
Articles Editor, Virginia Tax Review
University of Virginia, BA, with distinction, Economics

Admissions

District of Columbia
Virginia

Professional & Community Involvement

American Bar Association (Business Law and Real Property, Probate and Trust Law Sections)
Bar Association of District of Columbia
Virginia Bar Association (Business Law Section)

Eric J. Edwardson

Overview

Experience

Related Services & Industries

Services

Industries

Publications & Presentations

Publications

MSR Deal Points Q&A

Considerations for MSR Fund Investments

News

5 ways mortgage companies may be able to maintain liquidity

How Fannie Mae advance cap helps coronavirus housing markets

Events

10th Annual Mortgage Servicing Rights Forum (East)

MSR Platform & Company M&A: Will the Activity Continue or be Swamped by High Interest Rates?

Education

Admissions

Professional & Community Involvement