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  • Description

    An alphabet soup made up of RMBS, CMBS, CDOs, SIVs have been in the press for the last few years and while they perform an integral part of the capital markets, few know what they are. Some commentators and regulators have alleged that these sophisticated financial instruments were responsible for the Credit Crisis that nearly destroyed the global economy. What are these structured products, how do they work and who created them?

    New York attorney and subject matter expert Jack Chen explains the essential characteristics of structured finance and then provides a survey of the different types of asset backed securities in the market. The course explains the roles of originators, servicers, trustees, managers and rating agencies while reviewing sample capital stacks and cash flows for each type of transaction and surveys the areas of laws that any practitioner needs to know in working in this area.

  • Instructor Bio

    Jack Chen

    Jack is a consultant with expertise in the capital markets, corporate securities, structured finance, asset backed securities, ratings, real estate investments and derivatives. He currently provides advisory and consultancy services and has testified as an expert witness in federal court in a case involving ratings and complex financial products. He is a recognized expert in structured finance where he has over 15 years' of experience. His product expertise includes derivatives such as credit default swaps, interest rate derivatives and total return swaps, cash and synthetic collateralized debt obligations, collateralized loan obligations, derivative product companies and structured investment vehicles.

    Jack began his career as an associate at the white shoe law firm of Willkie Farr & Gallagher and then joined the prestigious law firm of Sullivan & Cromwell with a practice in corporate law, securities and a concentration in structured finance. He left law to rate derivatives and structured products at Moody's Investors Service and then served as the Chief Operating Officer of HillMark Capital and then of Centerline Financial before founding his own consulting firm, Pronetik, providing litigation support, serving as an expert witness and supervising quantitative analyses. Jack has appeared on the CBS Evening News and was featured as an expert on 3-part documentary titled “Age of Gold” for the “Docu-Prime” series of South Korean television network EBS. He has also been quoted or cited in a number of newspapers and trade journals, including Wall Street Journal, Business Week, Bloomberg News, Market Watch News Hub, Risk, Creditflux, St. Petersburg Times, Asset-Backed Alert and Structured Credit Investor.

    Jack received his undergraduate degree from Columbia College, Columbia University and his legal degree with honors from Fordham University School of Law where he was Senior Articles Editors of the Fordham Law Review.