NewOak Capital appointed Samuel Warren as director of the firms RMBS structuring solutions team and to complement its RMBS and residential loans credit management capabilities.
Warren brings extensive experience structuring and trading reREMIC securities. His prior experience includes positions at Deutsche Bank and Lehman Brothers. He was a MBS trader at Deutsche Bank, most recently responsible for the issuance of over $8 billion in reREMIC securitizations. Earlier at Deutsche, Warren led the Alt-A New Issue team of the MBS trading desk, which issued over $20 billion of securities.
While at Lehman, he was a member of the banking and structuring team, which completed $9 billion of RMBS/home-equity issuance and created multiple ABCP conduits for third parties.
Non-agency mortgages continue to be a source of concern for many of financial institutions because of continued credit deterioration and lack of clarity as to the impact of the new government programs. Sam brings a great deal of structuring and loan experience in the residential mortgage space and complements our deep bench, says Ron DVari, CEO and co-founder of NewOak Capital. Depending on the specific circumstances, restructuring can be a
viable risk management solution but needs to be done with care and full understanding of underlying credit, valuation, accounting and documentation ramifications. NewOak Capitals experienced team of credit, structuring, legal, valuation, and trading are optimally positioned to work with clients to achieve the best outcome, added DVari.
Sam brings a wealth of experience and a successful track record in the restructuring of clients structured credit portfolios to NewOak Capital. Sam is joining a group that already has a great deal of depth in the RMBS, CMBS and CDO/CLO space and were excited to be adding such a strong leader for a strategy that we believe is a timely solution for a number of our clients, said James Frischling, president and co-founder of NewOak Capital.