Residential Mortgage-Backed Securities

Cadwalader's participation in residential mortgage-backed securitization transactions is multi-dimensional. Globally, we advise issuers, underwriters, institutional investors, loan sellers, trustees, servicers and credit-support providers.

Since 1983, when we helped the Federal Home Loan Mortgage Corporation, now known as Freddie Mac, create the first collateralized mortgage obligation, we have participated in over $1 trillion of residential mortgage securitization transactions. Our experience extends to a broad spectrum of residential mortgage products, including: traditional "A" credit mortgage loans; “alternative A" and "B and C" credit quality loans; ARMs with a variety of indices; relocation loans; "scratch and dent" loans; re-performing and non-performing loans; balloon loans; manufactured housing loans; co-op loans; buy-down loans; employer subsidized loans; Title I home improvement loans; home equity loans; high LTV loans and reverse mortgage loans.

We have structured transactions featuring every type of mortgage security designed by Wall Street, such as PACs, TACs, floaters, inverse floaters, COFI floaters, WAC IOs, "IO-ettes", ratio stripped POs, "lockout bonds", accrual bonds and component structures, and every form of credit enhancement currently or previously used in the market, including shifting interest senior subordination, overcollateralization, mortgage pool insurance, surety bonds and various combinations of the foregoing. We have also been extensively involved in the resecuritization of agency pass-through certificates and agency REMICs and of senior and subordinate private label mortgage securities.



12 Attorneys

Barnes, Cheryl D. Partner Washington
T. +1 202 862 2340
Duncan, Matthew Partner London
T. +44 (0) 20 7170 8730
Gambro, Michael S. Partner New York
T. +1 212 504 6825
Goldstein, Stuart N. Partner Charlotte
T. +1 704 348 5258
New York
T. +1 212 504 6316
Kiernan, David Associate London
T. +44 (0) 20 7170 8614
McCormack, Michael A. Special Counsel New York
T. +1 212 504 6569
Nixon, Andrea N. Special Counsel New York
T. +1 212 504 6223
Pauquette, Lisa Partner New York
T. +1 212 504 6298
Polverino, Frank Partner New York
T. +1 212 504 6820
Schuler, Gary E. Counsel Charlotte
T. +1 704 348 5304
Silverstein, Gary T. Partner New York
T. +1 212 504 6858
Tan, David Associate London
T. +44 (0) 20 7170 8684