Susan Thurman

• Advised on the inaugural issuance of automobile credit linked notes by FDIC-insured bank to achieve reduced capital risk weight and drive higher returns on equity.
• Represented clients, and participated as a leader in a capital markets team, in dozens of competitive private offerings in bulk or flow structures, providing advice through the bid and term sheet process, creating and negotiating forms, successful execution, and completion of post-closing activities and remedies.
• Advised, designed, and tested new operational systems to support bulk and flow loan sales and securitizations as a lawyer and as a leader in a capital market team with respect to expanding established programs and establishing new programs.
• Advised prospective sellers, purchasers, issuers, and lenders to navigate enterprise change and risk requirements, including through the development of knowledge building, roadmaps, technology features and requirements, and project management tools.
• Advised clients in their negotiation, documentation, and launch of several bank-fintech partnerships.
• Advised a client with all aspects of Fannie Mae, Freddie Mac, and HUD relationship, transactions, and pilot initiatives.
• Advised sellers and servicers in post-settlement contractual activities, including Reg AB 1122 obligations and compliance and repurchase and indemnification claims.
• Advised a client in documenting nationwide mandatory and best-efforts correspondent purchase program documentation.
• General counsel to a nationwide indirect home improvement lender, after its acquisition, on its integration into a bank, and its originations, servicing, and flow sale program with 30+ investors, including licensure and state regulatory matters, dealer documentation, vendor and platform agreements, and offering and negotiating dozens of flow sale and servicing agreements to drive growth, risk management, and higher returns.
• Counseled the originator in the development, documentation, and operational controls with a large team of counterparties to launch a new home solar lease program.
• Represented a client in the establishment and ongoing management of the tax requirements of a mortgage REIT.
• Represented REITs with a real estate secured mortgage securitization program.
• Represented a REIT client in the issuance of $150 million senior notes.
• Represented a REIT client with its five warehouse facilities.
• Advised, negotiated, and developed documentation in the representation of new I.R.C. Section 529 programs.
• Represented clients to ensure tax and financial risks in business transactions including federal income tax credits, representations and warranties breaches, and similar risks in mergers, acquisitions, and other structured transactions.
• Represented federal income taxpayers in connection with private letter ruling requests, resulting in the courts finding in favor of the clients.

Clients rely on Susan Thurman when seeking to explore and execute novel, inaugural transactions. She has advised clients to build, test, and execute new secondary and capital markets transactions in many asset classes. Her clients are new and established participants in the secondary and capital markets, and they span secured and unsecured and direct and indirect consumer, small business, and servicing businesses. Susan has also been a senior leader for a top 10 U.S. bank’s capital market’s initiatives outside the legal team, giving her a unique perspective to advising clients.

Susan focuses her current legal practice on leading bulk and forward flow transactions including best-efforts and mandatory correspondent real estate secured businesses, securitization, warehouse financing, and other asset-based transactions and financings across diverse asset classes.

Susan counsels both emerging market participants and established market participants. She has worked across several secured and unsecured asset classes, including automobile, motorized sports, home improvement, solar, mortgage and MSR, and small business loans, as well as commercial loans and leases.

Susan regularly supports pro-bono initiatives related to veterans and housing in the community.

Languages

• French

Bar Admissions

• Virginia
• California
• District of Columbia (Not Admitted)

Education

• New York University (LL.M. Taxation)
• University of Richmond (J.D.)
• University of Virginia (B.A.)

Memberships