Edward L. Douma

Offering clients a combination of experience and innovation, Ed’s practice focuses on securitization and secured financing transactions. For more than 30 years, Ed has concentrated on the financing of term and revolving assets, with a focus on residential mortgages, HELOCs and mortgage-related assets such as servicing rights, as well as more esoteric assets and structures. His experience includes the representation of issuers, investment banks and credit enhancement providers in connection with mortgage-backed and asset-backed structured finance transactions and the representation of management and investors in the formation and operation of private equity funds investing in securitized assets.

Ed has developed and designed innovative structures for financing mortgage servicing rights, Ginnie Mae servicing advances, home equity lines of credit and commuting financial guaranty insurance policies in corporate restructuring programs for mono-line insurance companies. He is also skilled at establishing revolving and term securitization programs. He has structured, negotiated and documented domestic and international transactions for financing residential and commercial mortgages, small business loans, future receivables, computer leases, equipment leases, trade receivables, synthetic leases, corporate debt and other financial assets.

• Served as issuer’s and initial purchaser’s counsel to J.P. Morgan Mortgage Acquisition Corp. and J.P. Morgan Securities LLC (together, “J.P. Morgan”) in connection with the development and execution of a securitization program involving the issuance of $186.4 million in securities backed by a fixed pool of participation interests in home equity lines of credit (HELOCs) originated by third parties.
• Counsel to investment bank in the creation of multiple finance programs using a master trust structure for the financing of Ginnie Mae mortgage servicing rights and servicing advances and the related issuance of over $7.5 billion of term notes and over $10 billion of variable funding notes.
• Counsel to investment banks in the creation of term financing structures for the financing of Fannie Mae, Freddie Mac and the private label mortgage servicing rights and the issuance of over $4.0 billion of term securities relating thereto.
• Counsel to investment bank in the establishment of programs to finance risk retention securities in compliance with UC risk retention regulations.
• Represented financial guaranty insurer in the company’s surplus restoration plan, including designing and implementing an exchange offer for approximately $10.7 billion (based on then current face amount) of residential mortgage-backed securities and asset-backed securities.
• RMBS counsel to financial guaranty insurer in an exchange offer for over $6.8 billion of insured residential mortgage-backed securities, effectively commuting financial guaranty insurance policies related to approximately $3.8 billion of RMBS and approximately $1.2 billion in loss reserves associated with the insurer’s RMBS portfolio.
• Active participant in advocacy initiatives relating to regulatory issues.
• Represented FDIC insured institution in its residential mortgage loan program, including warehouse financings, secondary market sales and the establishment and operation of its residential mortgage securitization program.
• Represented management in forming multiple private equity funds to invest in mortgage-related securities.
• Designated underwriters counsel in multiple offerings by the first issuer to publicly offer securities backed by small business loans.
• Representation of commercial paper conduits in multiple transactions involving trade receivables, residential mortgage loans and asset-backed securities.
• Issuer’s counsel for large independent leasing company’s term and commercial paper financing facilities for computer, telecommunications and other equipment leases.
• Represented Spanish bank and subsidiary investment bank with the offering of pass-through certificates backed by Argentine telecommunications receivables.
• Counsel to US investment bank for the issuance of asset-backed certificates backed by future receivables of Brazilian manufacturing concern

• Recognized as a Leader in Capital Markets: Securitization – MSR, USA-Nationwide, Chambers USA, 2020-2024

• Recognized as a Leader in Capital Markets: Securitization, USA-Nationwide, Chambers Global, 2021-2024

• Recommended for Structured Finance – Securitization, Legal 500 United States, 2017, 2020, 2023