Buchalter Nemer Forms Covered Bonds Group

LOS ANGELES--Los Angeles-based law firm Buchalter Nemer, PC, announced the formation of its Covered Bonds Group. The new group comes in response to a growing interest by institutional real estate and commercial finance clients in developing the popular European corporate debt instrument for the U.S. capital markets.

"Financial regulators, including the FDIC and the U.S. Treasury, are encouraging use of covered bonds as an alternative to securitization for originating and distributing residential mortgages and mortgage securities," says Joshua Mogin, co-Head of the Covered Bonds Group. "Buchalter Nemer has deep capital markets experience in the residential mortgage finance markets, representing lenders and issues. Our attorney's are knowledgeable in all aspects of originating securitized loans and bond financing, which will be important in this emerging area."

"Buchalter Nemer is a firm with a dedicated focus on complex asset-based and collateralized financings, and servicing arrangements as well as transactional tax expertise necessary to implement these transactions," said Michael Williamson, co-Head of the new group.

Initially, Buchalter Nemer will work with institutional clients to develop loan programs and documentation for the real estate loans to be included as collateral in Covered Bond transactions, and to establish protocols for the purchase of Covered Bonds. The Covered Bonds Group will include attorneys from Buchalter Nemer's Real Estate, Tax, Business Practices, and Financial Solutions Practice Groups.

"Many of our clients feel that Covered Bonds will be at least a temporary reprieve for the institutional lenders during this credit crunch, and would like to be in position to take advantage of this emerging U.S. market," said Rick Cohen, Buchalter Nemer President and CEO. "We are fortunate to be able to extend this additional service to them."

Buchalter Nemer is a full-service business law firm representing local, regional and national clients in eight major areas of practice and their subspecialties, among them: Bank and Finance, Business Practices, Financial Solutions, Litigation, Labor and Employment, Intellectual Property, Real Estate, and Tax and Estate Planning. Buchalter Nemer has offices in Los Angeles, Orange County, San Francisco and Scottsdale. For more information about the firm, visit www.buchalter.com.