Expertise DescriptionI have more than 30 years of experience in the Fixed Income Securities and Structured Finance Markets. My experience includes deep knowledge of Asset Backed Securities (ABS), Mortgage Backed Securities (MBS), Commercial Mortgage Backed Securities (CMBS), Collateralized Debt Obligations (CDOs), Asset Backed Commercial Paper (ABCP), Structured Investment Vehicles (SIVs), Due Diligence (Investment), and Breach of Covenants, Broker Responsibilities, Broker Ethics, Credit Risk Management, other Structured Finance products. I have a particularly broad perspective on the market and have worked as a Strategist, Quantitative Analyst, Banker, Rating Agency Analyst, Research Analyst, Collateral Manager, Fund Manager, Chief Credit Officer, Chief Investment Officer (REIT), Salesman, and Investor. I have been on both the sell-side and buy-side of the market (buying and selling billions of dollars of Structured Finance securities) and have a thorough understanding of both the big picture and nuances of the Fixed Income and Structured Finance markets. I have prior expert witness experience with consultation and deposition.
Areas of Expertise
My expert witness experience includes cases of: suitability of securities purchased for investor in discretionary portfolio;suitability of securities sold to an investor by a broker-dealer; fiduciary responsibilities of investment manager; margin calls and improper liquidation of repo collateral; patent infringement related to auto leases and auto lease backed funds, non-infringement and invalidity of patent-in suit; mortgage fraud and improper documentation; securities: performance obligations of parties, disclosure obligations of parties, and events of default, meaning of security indenture.
My consulting experience includes asset valuation, due diligence of edge fund under purchase consideration, and due diligence of mortgage loans and documentation related to MBS.
My professional experience includes Founder and President of a fixed income and structured finance consulting firm, with prior experience as a Structured Finance Consultant, Managing Director, Principal/Chief Risk Officer/Portfolio Manager, Managing Director/Chief Credit Officer/Chief Investment Officer, and Managing Director.
I have worked on several mortgage and mortgage backed securities (MBS) and mortgage fraud cases. I have addressed losses and/or damages on multiple mortgage and MBS cases.
I have deep knowledge of all aspects of RMBS. I have worked on and off trading desks for 30 years. I have worked with traders from multiple perspectives including from the broker dealer side, from the issuer side, from the investor side, and from the sales side. Having been involved in hiring traders, I understand what a trader is expected to do and the qualifications necessary to be successful. I have managed traders and worked closely with them.
I have taken and passed the Series 63 and Series 7 three times due to employment changes when I was not working for a broker/dealer, and I have passed the Series 24 twice for the same reasons. Since I have been working as a consultant for the past five years all of my FINRA licenses are inactive.
I have been on both the buyside and sell side, I have been the Chief Investment Officer of a REIT, I have published thousands of research reports that have been distributed to investors and I have published numerous book chapters for financial books published by major publishers. I am well and have been involved from multiple perspectives, including as a researcher, trader, salesman, asset manager, issuer, investor, and board member. I have also worked on more than 15 litigations related to securities which included matters related to asset valuation, investor suitability, events of default, repo practices, representations and warranties, and due diligence practices.
|MBA||Finance/International Business||Washington University|
|BA||Government/International Relation||University of Notre Dame|
|FINRA Series 7 Securities License (General Securities Representative)|
|FINRA Series 24 Securities License (General Securities Principal)|
|North American Securities Administrators Association Series 63 Securities License|
Awards & Affiliation
|American Securitization Forum|
American Securitization Forum
Partial List of Consulting Expert Witness Cases