Thomas Y. Hiner is a versatile lawyer with broad corporate finance experience, having represented financial institutions for over 26 years in acquisitions, asset-based finance, structured secured lending, venture capital and asset securitization transactions.
Bespoke transactions require creativity in addition to technical know-how. Tom’s career has been highlighted by innovative transactions and esoteric and novel asset-based financings based in a deep-rooted background in the fundamentals of traditional structured finance, capital markets, and real estate finance and asset securitization.
Clients know that an effective structured finance lawyer must understand how the financing fits within the larger context of the client’s overall business objectives, and they appreciate Tom’s transaction experience because it consists of financings that engage an entire business.
Tom frequently works side by side with lawyers from our M&A, business lending, private equity, tax and bankruptcy teams in structuring and executing transactions, providing clients with a comprehensive approach to their structured finance transactions in a complex and constantly changing market.
According to Chambers Global, 2016, Tom’s clients say he is “incredibly helpful and resourceful” and “solutions-oriented.”
In recent years, Tom has emerged as a notable figure in mortgage servicer finance. In the last decade, he has led over 60 transactions for the financing of servicer advance receivables.
The structures range from revolving loans to master securitization trusts that combine revolving variable funding notes with term asset-backed securities placed with institutional investors.
Tom has been instrumental in several of the leading transactions following the 2008 financial crisis. These transactions include several major mortgage area M&A transactions and the associated financing packages combining rated securitization technology with traditional syndicated corporate loans, and the first complete restructuring of the insurance obligations of a major monoline financial guaranty insurance company.
Tom is the co-head of the firm’s corporate team, with oversight not only of our structured finance and securitization practice, but also M&A, private equity, privacy and outsourcing, real estate capital markets and other corporate practice areas.
- Represents servicers of mortgage loans with respect to acquisitions and sales of servicing rights, and financing servicing advance receivables and servicing rights both through structured facilities and in traditional revolving lines of credit.
- Represents underwriters, lenders and syndicated lender agents on a variety of asset-based loans, high yield debt offerings, including development of programs for issuance of securitized interests in mortgage servicing rights and excess servicing spreads.
- Represents financial center banks and hedge fund investors in asset acquisitions, including design and implementation of structured asset-backed components of acquisition financing packages, representing sellers, lenders, buyers and borrowers.
- Represents sponsors and placement agents in issuances of term and revolving asset-backed securities collateralized by servicer advance receivables in over 60 transactions for this unique asset type since 2001.
- Represents financial institutions in development of market-leading structures to maximize benefits for their clients in a competitive and fast-changing market and regulatory landscape.
- Represents money-center financial institutions and consumer finance companies on “warehouse” lines of credit with respect to residential and commercial mortgage loans, manufactured housing contracts, and construction loans.
- Represents manufactured housing financing companies in all aspects of their businesses, including devising skin-in-the-game origination practices, warehouse financing, and securitization of manufactured housing contracts.
- Represents mortgage servicers, banks and credit enhancers in connection with private commercial litigation and regulatory and attorney general actions concerning loan origination and servicing practices, contract disputes and loan modifications.
- Represented financial guaranty insurers on numerous public asset-backed securities transactions backed by closed-end and revolving home equity lines of credit and sub-prime mortgage loans.
- Represents consumer finance companies in start-up, development of lending operations, initial public offerings, working capital financing arrangements, venture capital equity and debt financing, acquisition of finance companies, warehouse lines of credit with “table-funding” features to facilitate lending operations, design of underwriting guidelines and implementing them with financing partners, loan sales and purchase and securitization arrangements, public equity offerings.
- Represents lenders and borrowers on secured mezzanine financing of real estate development projects and holdings (REITs and others).
- General counsel to The Train Foundation, a New York-based international philanthropic organization and sponsor of the Civil Courage Prize.
- Represents issuers in connection with development of mortgage loan and consumer finance contract securitization programs and in offerings of mortgage-backed and asset-backed securities, including design and implementation of first government-guaranteed REMIC mortgage-backed securities program.
- Represents venture capital investors in negotiating a wide variety of debt and equity investments.
- Represented legal aid society for 18 years, litigating and settling landlord/tenant disputes and eviction proceedings on behalf of low-income tenants.
- JD, Duke University School of Law, with honors, 1989
- BA, English, University of Virginia, with high distinction, Phi Beta Kappa, 1986
- New York
- Board of Directors, Virginia Center for Creative Arts, Amherst, Virginia
- Member, Committee on Developments in Business Financing, Committee on Federal Regulation of Securities, UCC Committee, Committee on Developments in Business Financing, American Bar Association
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