Dechert, together with the three other leading law firms in the CMBS securitization space, Cadwalader, Wickersham & Taft LLP, Orrick, Herrington & Sutcliffe LLP and Sidley Austin LLP, published a position paper entitled “Selected risk retention questions and answers for CMBS securitizations.”
Dechert partnered with other leading law firms in an effort to facilitate marketplace implementation of the Risk Retention Rule (the “Rule”). As we have noted repeatedly before, the Rule is riddled with open questions. The paper was authored to try to provide some guidance on the most consequential open questions based upon the deep experience and perspective of the most active securitization participants.
Please feel free to contact the members of our Risk Retention team. We are happy to walk you through what this all means and how you can use it to structure your securitizations going forward.