Rudene Bascomb and Tom Hiner discuss TALF transactions with National Mortgage News

Eyeing Securitized Residential Servicing Advance TALF Deals

National Mortgage News

Making use of recent legislative changes to the TALF program, Hunton & Williams lawyers represented American Home Mortgage Servicing, Inc. and an affiliated issuer, AH Mortgage Advance Trust 2009-ADV1, in a $550 million sale of term notes. Tom Hiner, who led the Hunton & Williams team explained that TALF affords servicers expanded opportunities for financing of servicing advance receivables at rates attractive to both issuers and investors. According to Rudene Bascomb, a member of the Hunton & Williams team representing American Home, the transaction marks the first TALF issuance involving the pledge of asset-backed securities, or ABS, backed by servicer advance receivables collateral.