ASSET SERVICING AND STRUCTURED FINANCE | SEDA | Expert Witness Practice
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Skyscrapers and Sky
ASSET SERVICING AND STRUCTURED FINANCE
Practice Area

Our Experts bring unparalleled knowledge and insight to support clients in navigating complex structured finance transactions and asset servicing matters.

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Our team of experts offers authoritative guidance and testimony across a wide range of functions, including trustee and indenture trustee roles, custodian and sub-custodian duties, collateral and fund administration, calculation agent services, and both master and special servicer responsibilities. Backed by extensive industry experience, SEDA Experts is committed to delivering precise, informed assessments tailored to meet the rigorous demands of litigation and dispute resolution.

SEDA Experts has an exclusive team of experts with extensive experience in asset servicing, including but not limited to indenture trustee, custodian and sub-custodian, collateral administration, fund administration, calculation agent and bank agent, master servicer and special servicer services, among other.



EXPERTISE

Custody Services

Our team's experience encompasses various facets of custody services, including safekeeping, trade processing, trade capture, and settlement. We are well-versed in managing cash accounts, securities trade and settlement, premises and off-premises safekeeping, and reporting. Our expertise extends to policies, procedures, internal operational controls, regulatory guidelines, and industry-standard practices required by global custodians to ensure the control and safekeeping of customer assets, thereby mitigating custody risk and potential asset losses. Our experts provided expert reports and testimony on matters involving alleged failure by the custodian to perform its duties and responsibilities in accordance with both the contractual and transaction governing documents, as well as with best market practices and regulation.

Indenture Trustee Services

SEDA Experts professionals have worked on numerous disputes involving indenture trustee duties and responsibilities, as well as other fiduciary duty claims. Indenture trustees play a critical role in various complex structured credit transactions such as CDOs, CLOs, RMBSs, and CMBSs among other. Our experts' industry experience in roles such as indenture trustee and other related fiduciary positions allows us to offer invaluable expertise acquired throughout our careers as industry professionals. This includes assessing roles and responsibilities of an indenture trustee and the transaction’s compliance with the respective governing documents.

Collateral Administration and Fund Administration Services

Our team possesses extensive industry experience in collateral and fund administration, covering a diverse range of assets, including syndicated leveraged loans, corporate bonds, equities, structured credit securities, and derivatives. While serving as fund administrators, we have been responsible for independent Net Asset Value (NAV) calculations, managing complex fee arrangements, overseeing various fund structures (including master and feeder funds), and ensuring ongoing reconciliation and reporting for investors and accounting purposes.

The role of a fund administrator has taken on more scrutiny by regulators, investors and market participants, especially in the wake of several Ponzi schemes and assets misappropriation by managers that were uncovered after the 2008-2009 financial crisis. Fund administrators are expected and perceived to be an independent third party retained by the fund and act as gatekeepers, mitigating the possibility of asset misappropriation and or misrepresentations by the fund manager and other fund related parties.

Our experts have not only worked directly as collateral and fund administrators, but also provided expert reports and testimony on fund related cases.

Mortgage Servicer and Special Servicer

SEDA’s experts have both industry and litigation expert consulting experience in connection with mortgage servicing, more specifically master servicer and special servicer arrangements. These arrangements often take on complex fee structures as well as complex collection processes that give rise to potential liability and consequently litigation and disputes.

Mortgage Insurance Guaranty and Monoline Insurance

Our experts ran various mortgage insurance and guaranty firms and provided monoline insurance services to various structured credit transactions. SEDA´s experts have provided written experts reports and testified to some of these issues.

 

Mortgage Financing and Mortgage Agencies: Our experts are former Directors and senior officials at the FHFA, where they dealt with the various mortgage financing agencies such as Freddie Mac, Fannies and Gennie Mae throughout some of the most troubled financial markets times. SEDA´s experts bring both industry and regulatory compliance expertise when it comes to the mortgage financing and structured credit funds space, as well as origination and servicing.


RELATED EXPERTS

Peter U. Vinella, Ph.D.

Peter U. Vinella, Ph.D.

Managing Director, Advisor to the Board

Peter U. Vinella has more than 30 years of experience in the financial industry as a consultant and an executive with leading financial institutions. Mr. Vinella has extensive testifying experience acting as an expert for both plaintiff and defendant, involving more than 25 matters and including seven cases with more than $1 billion at stake.

Former 

Berkeley Research Group - Managing director

Wilmington Trust Conduit Services, LLC - President and CEO

Expertise

Trading and Investments, Risk Management, Operations, FinTech and Project Management, Quantitative Analysis, Custody, Trust, and Fund Administration, Repo and Securities Lending

Mark J. Buono

Mark J. Buono

Managing Director

Mark Buono is a CMBS and CRE industry pioneer. He is a former Managing Director at Goldman Sachs where he held various roles in the commercial real estate business for 20 years, and a Managing Director and CRE Portfolio Manager at the Global Atlantic Financial Group. He is an expert in CMBS, CRE CDOs, and REITs, CRE Portfolio Management, and Risk Management.

Former 

Goldman Sachs  - Managing Director, Special Asset Group

Freddie Mac - Vice President, Mortgage Trading

Expertise

CMBS, CRE CDOs, and REITs, Commercial Real Estate Lending, CRE Portfolio Management, CRE Portfolio Risk Management

Howard Yaruss

Howard Yaruss

Managing Director

Howard Yaruss is an accomplished real estate expert. He teaches in this field as an Adjunct Professor at NYU, as well as practicing as an expert witness in Mortgage, Financial Guaranty and Title Insurance. He formerly served as Executive Vice President, General Counsel, Chief Responsibility Officer, and member of the five-person management team of Radian Group Inc., one of the nation’s largest insurers of mortgage and municipal debt.

Former

Radian Group Inc. - Executive Vice President, General Counsel, Corporate Responsibility Officer

Assured Guaranty, Ltd. - Vice President, Assistant General Counsel

Expertise

Mortgage Insurance, Financial Guaranty and Bond Insurance, Credit Enhancement for Mortgage-Backed Securities, Financial Guaranty and Mortgage Reinsurance, Title Insurance Alternatives, Insurance Regulation

Robert Almanas

Robert Almanas

Managing Director

In a 35 year career in financial services, Robert Almanas has held a variety of management positions in firms representing the various transaction banking and post-trade functions associated with cross-border financial activity: global custody, correspondent banking, contract administration, asset management administration, local market custody, and market infrastructure.

Former 

State Street - Senior Vice President Global Operations

Harvard Management Company - Managing Director

Expertise

Global Custody, Asset Management Administration, Contract Administration, Local Market Custody, Market Infrastructure

Debbie Bigman, CPA

Debbie Bigman, CPA

Managing Director

Debbie Bigman has over 36 years of experience in financial product valuation, enterprise risk management and financial reporting. Her deep knowledge in credit, pricing and transaction analysis spans decades of market cycles and disruptions. Debbie has helped banks, specialty lenders, insurance companies, and funds navigate complex challenges arising from market and regulatory driven change.

Former

PricewaterhouseCoopers LLP - Partner, Financial Markets Co-Founder

Expertise

Valuation and Governance of Financial Products, Enterprise Risk Management for Financial Transactions and Products, Financial Reporting for Financial Instruments


Fred Brettschneider

Fred Brettschneider

Senior Advisor

Fred Brettschneider is a securitized products and asset-backed finance executive with over 30 years of experience at leading banks and asset managers. Mr. Brettschneider has a deep understanding of fixed income and equity instruments, with strong focus on Asset Backed Securities (ABS) and securitized products, acquired while heading equity/debt markets, and ABS trading and syndicate practices globally at large financial institutions. He also has broad experience across Investments, Risk Management, Valuations, and Compliance.

Former

LibreMax Capital - President

Deutsche Bank - Head of Global Markets Americas

Head of Institutional Client Group Americas

Head of ABS Trading and Syndicate


Expertise

Securitized Products, Fixed Income Sales and Trading, Debt Underwriting, Valuation / Risk Management, Asset Management

Damiano Colnago

Damiano Colnago

Managing Partner

Damiano Colnago is the co-founder of SEDA Experts LLC. He specializes in custody and trustee services, and collateral administration. His expertise includes banking operation, collateralized debt obligations, fund of funds, derivatives , asset-backed securities (ABS), mortgage backed securities (MBS), syndicated loans, and cryptocurrencies.

Former 

Wilmington Trust Conduit Services, LLC. - Deputy Head of CDO Risk and Compliance

Expertise

Structured Finance, Collateral Administration, Trustee & Custody Services, Funds operations, Derivatives

Jeanette Jin, Ph.D.

Jeanette Jin, Ph.D.

Managing Director

With three decades of experience working in the financial services industry as a senior executive, Dr. Jin has gained a deep knowledge of the industry’s customs, practices, and standards of care. Dr. Jin has provided expert testimony and advisory services on more than fifty matters involving cryptocurrencies, MBS, derivatives, alternative investments, risk management and corporate trust services.

Former 

Berkeley Research Group - Managing Director

Wilmington Trust Conduit Services - Chief Operating Officer, SVP

Expertise

Private Equity Investment, Fund Management, Securitization, Derivative Trading and Valuation, Asset Management, Trust services, Collateral administration, Risk Management

Sergio C. Godinho

Sergio C. Godinho

Managing Partner

Sergio Godinho is the co-founder of SEDA Experts LLC and the former Head of CDO Risk and Compliance at Wilmington Trust. He is a senior professional with diversified experience in both the financial services industry, as well as providing advice in litigation, dispute resolution, mediation, and business consulting matters, including class actions and class certifications.

Former 

Wilmington Trust Conduit Services, LLC. - Head of CDO Risk and Compliance

Expertise

Structured Finance, Collateral Administration, Trustee Services, Custody Services, Syndicated Loans

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