Securitization and Specialty Finance

WeiserMazars wide array of specialty services ranges from accounting, audit, tax, advisory, due diligence, and forensic accounting, to fraud investigation, litigation support, turnaround and restructuring, bankruptcy, valuation, tax recovery, and SAS 70 audits. Considered an industry leader in securitization and specialty finance matters, we offer Big Four service alongside the personalized attention you’d expect from a smaller firm.

Our Services

Trouble Situation Services

Troubled situations regarding securitization transactions can involve one or more of the following:

• Forensic accounting
• Fraud examination
• Business records reconstruction
• Expert witness
• Damage and claim quantifications
• Collateral analysis
• Liquidation analysis
• Reconciliation projects
• Turnaround and reconstruction services
• Bankruptcy services
• Digital forensics and eDiscovery services

Advisory and Pre-Transaction Services

• Accounting and auditing
• Agreed upon procedures reports
• Calculation of availability and ineligibles and evaluation of advance rates
• Management and financial reporting
• Operational and credit analysis
• Portfolio review
• Review of policies and procedures manuals
• Review of systems and controls
• Tax planning and optimization strategies

Transaction Services

• Agreed-upon procedures
• Asset data stratification
• Cash flow modeling
• Collateral file reviews
• Compliance testing
• Due diligence
• Portfolio re-underwriting

Post-Transaction Services

• Compliance review
• Payment date verification
• Investor reporting
• Surveillance services
• Operational reviews
• Financial statement audits
• Compliance and advisory

Ongoing Client Services

• Audit and accounting
• Tax compliance and advisory
• Operations review
• Business strategy
• Issuer planning and preparation
• Mergers and acquisitions
• Forecasts and projections
• Valuations
• Structuring and funding alternatives
• High-net worth individual and estate planning

Asset Class Experience

• Asset classes
  - Automobile and equipment leases
  - Automobile (including Sub Prime), student and time share loans
• Mortgages
  - Sub Prime
  - Residential mortgages
  - Commercial mortgages
• Collateralized Debt Obligations (CDOs)
• Receivables
  - Credit cards
  - Health care
  - Trade
• Structured settlements
• Life settlements
• Other esoteric asset classes

Accounting and Due Diligence Issues

Many of the following allegations require our thorough understanding of a company’s estimation process and related internal controls.

• Failure to:
  - properly account for allowance for loan repurchase losses
  - properly account for and value residual interest in securitizations
  - properly support loan loss provisions
  - reduce fair value of available for-sale mortgage portfolios below original cost
  - timely write down impaired assets
• Improper gain on sale accounting
• Misrepresentation in loan origination process and risk control
• Breach of contract involving securitization and due diligence on mortgage loans prior to repackaging as CDOs and other securities
• Improper determination of a servicing asset or liability
• Adequacy and timing of disclosures
• Misrepresentation of Sub Prime exposure and fund performance