About the Course
Introduction
This CLE webinar will provide an overview of key structured finance techniques used in both financing securitizations (often for accounts receivable financings and financings of similar assets) and capital markets securitizations such as commercial mortgage-backed securities, residential mortgage-backed securities, collateralized loan obligations, and collateralized debt obligations. The panel will provide an overview of relevant types of transactions including benefits and objectives of each, discuss asset types common to securitization, and compare alternate methods of financing.
Description
Securitization is a subset of structured finance that allows creditors to monetize certain assets by transferring them to a bankruptcy remote special purpose vehicle, or SPV, which in turn either borrows from traditional lenders or issues securities backed by those assets. Securitization transactions may be structured to retain both the assets and the indebtedness or to achieve balance sheet relief. Financing costs including discounts, interest, and fees also affect structuring decisions as well as industry and operational-specific considerations.
Securitization allows a company to monetize a pool of its assets by isolating the assets from the bankruptcy estate of the company originating them. The company assigns the selected assets to a bankruptcy remote "special purpose entity," which then obtains financing that is secured by the selected assets.
The main parties to a securitization transaction include the originator/sponsor, the servicer, the trustee/collateral agent, the issuer or borrower, the underwriter or administrative agent, and the investors or lender. The main legal documents are the assignment agreement, indenture or credit agreement, and if the debt is in the form of securities, the offering document. The indenture or credit agreement, as applicable, outlines the terms of the indebtedness incurred by the SPV and the rights and duties of the parties involved in the transaction.
Listen as our authoritative panel discusses securitization structures and the common issues that arise in these transactions.
Presented By
Mr. Flores focuses his practice on negotiating, structuring and documenting corporate transactions and related financing arrangements. He has represented publicly traded and privately held companies in borrowing and lending transactions, entertainment financing, M&As, private equity investments, public and private debt and equity offerings, SEC compliance, tender offers, venture capital transactions and general corporate matters. In the structured transactions arena, Mr. Flores has represented issuers and underwriters in acquisitions, sales and securitizations in various asset classes, including automobiles leases, commercial mortgages, home equity loans, residential mortgages, life settlements, premium finance loans, lottery receivables, peer-to-peer loans, pharmaceutical receivables, structured settlements, student loans and solar energy receivables.
Ms. Nixon represents financial institutions and other capital market participants in repurchase, warehousing, financing and other secured lending facilities backed by residential, commercial and multifamily mortgage loans, single-family rental properties, servicing rights, student loans, crop loans and other asset classes. She has advised clients on innovative financing structures for a wide variety of pooled lending products, including repurchase transactions and other debt financing structures secured by senior and junior commercial and residential real estate loans, reverse mortgage loans, home equity lines of credit (HELOCs), commercial and residential mortgage-backed securities, participation interests, and mezzanine loans. Ms. Nixon has also represented investment banks, financial institutions and other market participants in their roles as issuers, underwriters, sellers and servicers in connection with the private offering of mortgage-backed securities, mortgage servicing rights, servicing advances and credit card receivables.
Mr. Nolan has a domestic and international practice that emphasizes lending transactions, fixed income securities, structured finance, structured products and derivatives. He often works at the intersection of finance and investment management, including trading and regulation of swaps and security-based swaps, loan trading, securities lending and repo as well as traditional borrowing and leverage transactions.
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
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Date + Time
- event
Tuesday, November 10, 2026
- schedule
1:00 PM ET/10:00 AM PT
I. Securitization overview
II. Comparison of securitization with other financing techniques
III. Summary of securitization features and common types of asset pools
IV. Objectives of securitization
A. Isolating assets from bankruptcy
B. Lower cost financing
C. Access to broader funding sources at more favorable rates
V. Selected regulatory issues
A. Risk retention
B. Conflicts of interest
C. Commodity pool regulation
D. 1940 Act/Volcker Rule
VI. Parties to the transaction
A. Originator/sponsor
B. Servicer
C. Trustee/collateral agent
D. Issuer/borrower
E. Underwriter/lenders
F. Investors/lenders
VII. Legal documents
A. Indenture/credit agreement
B. Offering document (if debt is in form of securities vs. loan)
C. Benefits/drawbacks of securitization over other structured finance products (e.g., factoring)
VIII. Key takeaways and practical considerations
The panel will review these and other key issues:
- What is securitization and how does it work?
- How does a securitization compare to other types of financing techniques (e.g., factoring, asset-backed financing, warehouse/repo transactions)?
- What are the asset types common to securitization?
- What are the benefits of securitization?
- What are the key considerations for the various parties involved in these types of transactions?
Related Courses
Affirmative and Negative Loan Covenants: Customizing Obligations and Restrictions Specific to the Transaction
Monday, January 11, 2027
1:00 PM ET/10 AM PT
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