MEDIA

Publications

The firm’s lawyers write for the New York Law Journal and for other print and online publishers. In particular, Harvey Stone and Richard Dolan write the Eastern District Roundup, a monthly New York Law Journal column summarizing notable decisions in the Eastern District of New York.

July 19, 2021

Legislative Solutions to the LIBOR Replacement Dilemma

Published in: New York Law Journal
Written by: John M. Lundin

Our previous article on this topic outlined the challenging issue of LIBOR transition—that is, moving from LIBOR to another benchmark rate—for asset-backed securities such as residential mortgage-backed securities (RMBS), and particularly, the complication created by there being two levels of transition:  LIBOR-indexed mortgage notes that are assets of an RMBS securitization trust, and LIBOR-indexed interest rates paid on the securities issued by the securitization trust.

May 26, 2021

LIBOR Transition for RMBS and Other LIBOR-Indexed Securitizations

Published in: New York Law Journal
Written by: John M. Lundin

Much has been written over the past decade, in this journal and elsewhere, about the manipulation of the London Inter-Bank Offered Rate (LIBOR) and the subse-quent decision to end its use as a benchmark interest rate. This article addresses the challenging issue of LIBOR transition—that is, moving from LIBOR to another benchmark rate—for asset-backed securities such as residential mortgage-backed securities (RMBS). RMBS is one of a class of assets that face the complication of two levels of transition: LIBOR-indexed mortgage notes that are assets of an RMBS securitization trust, and LIBOR-indexed interest rates paid on the securities issued by the securitization trust.  Read more>>