Representative Engagements

Domestic

Berkshire has completed a number of engagements since inception.  These include:

  • Completed over 150 portfolio valuations of asset backed securities, mortgage backed securities, consumer and commercial mortgage pools, and mortgage servicing rights in support of bank capital raises and capital adequacy validations since 2008
  • Completed operational due diligence on dozens of companies, including banks, mortgage companies, loans servicers, real estate development companies, agricultural and manufacturing companies
  • Performed forensic loan file reviews and re-underwrote tens of thousands of loans contained within over 140 securitization transactions
  • Provided surveillance on over 20 commercial and residential securitization trusts, and administered cleanup call auctions of securitized assets
  • Performed the analytical support for multiple high profile mortgage backed securities litigation cases, serving as consultants and expert witnesses
  • Developed and maintain a comprehensive agency and non-agency loan level database containing data on over 250 million loans contained in tens of thousands of agency and non-agency pools and securitizations.  The database is used in extensive statistical analyses in support of asset trading, loss analysis, performance analysis, forensic reviews and other purposes

International

Since 2001, Berkshire staff has completed a number of assignments in multiple countries.  Noteworthy engagements  include:

Argentina: 
Advisor to Banco Hipotecario Nacional on the first ever cross-border mortgage securitization from an emerging market country. This transaction became the platform for future securitized transactions. Advised the client in the development of written origination policies and procedures and the creation of an investor reporting department and master servicing system that is still in use today.

Belize:
Oversight Consultant performing transaction surveillance for the Belize Mortgage Company 2002-1 transaction. Moody’s and Fitch rated this transaction A3 and A, respectively. Monitored deal triggers, reserves, third party reporting and servicing of the Development Finance Corporation on behalf of the investors and trustee. 

Brazil:
Creator of a conduit finance program in partnership with a Brazilian affiliate firm, designed to attract domestic capital sources to the residential construction and mortgage loan finance markets.

Chile: 
Technical advisor to start up master servicing operation of ACFIN, providing servicing system functionality requirements than enabled start up to develop a servicing system for the Chilean market. Reviewed beta test results and advised on staffing requirements. 

Ecuador: 
Advisor to Banco Union to determine the feasibility of an international mortgage and auto loan securitization through our origination and servicing evaluation product. Additionally performed operational due diligence on behalf of a multi-lateral bank engaging in a consumer finance facility to a local financial institution.

Europe: 
Origination and Servicing Evaluation advisor for a Pan European trade receivable securitization, covering 5 countries. Advised the client in servicing and master servicing procedures, data requirements and technology enhancements.

Guatemala:
Program advisor to a local sponsor of a mortgage conduit program.  Provided operational assessments of potential participants to the program, data analytics and program implementation advisory services. Separately, was engaged by a multilateral bank to perform an operational review and data modeling for a land lease developer.

Mexico:
Mortgage advisor to the Inter-American Development Bank for a mortgage securitization program. Provided an Origination and Servicing Evaluation of a Mexican Mortgage Bank, including an evaluation of the underwriting and servicing practices to industry and international standards as well as the ability of the institution to support an MBS transaction. Additionally, assessed the technology capabilities and reviewed portfolio statistics and information provided by the originating institution.  Separately, worked for multiple international financial institutions performing loan file and operational due diligence, data analytics, securitization advisory and transaction surveillance from 2005 through 2015.

Panama:
Advisor to La Hipotecaria Inc,  a Panamanian mortgage company that successfully created an ongoing securitization program for residential mortgage loans placed locally in the Panamanian market. Reviewed the origination program, servicing process and systems and made recommendations for conforming to industry standards in order to become rated. 

Turkey: 
Program advisor to European Housing Finance (“EHF”). EHF was the developer and master servicer of a mortgage conduit program and eventual Issuer of a cross border MBS. Provided operational assessment, data analytics and program implementation advisory services.