Steven Becker represents borrowers and lenders in structuring and closing hundreds of warehouse lending transactions backed by billions of dollars of collateral. As a Chambers USA ranked finance lawyer, Steven attracts praise for his national warehouse lending practice and ability to advise on new financing transactions and innovative structures across the technology market. He represents established financial institutions and launches programs from the ground up for banks commencing new programmatic lending platforms. Steven also provides advice to lenders with multiple facilities, resulting in longstanding, repeat client work.
With a particular emphasis on residential and commercial mortgage related collateral, Steven works on deals involving a variety of loan asset classes. He represents both buyers and sellers of performing and nonperforming residential and commercial mortgage loans and has closed multiple public and private securitizations and other structured finance arrangements, acquisition finance transactions, and structured asset sales. Steven has also closed hundreds of diverse transactions involving residential (including multifamily and government insured mortgage loans), and commercial mortgage loans, residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS), servicing advances, servicing rights, single-family rental and lease to own transactions, early buyout loans, residential tax liens, and trade receivables. He serves as a trusted adviser to money center banks, hedge funds, servicers, and other financial intermediaries. Steven has worked on many different transaction types, including gestation and syndication facilities.
Steven also represents lenders and loan sellers in the financing of various products (including, without limitation, unsecured consumer loans, student loans, and loans backed by solar panels), and assists in the development of flow purchase programs to online lending platforms. He works with electronic vaults and eNotes, in addition to dealing with other electronically delivered collateral and blockchain technology.
Trained as a general corporate lawyer, Steven reviews mergers and acquisitions, capital raising transactions, fund formation, and general corporate matters with a unique business perspective. Prior to attending law school, he worked in the mortgage industry, bringing a deep understanding of the intricacies of this type of work.
Steven also serves as outside general counsel to ChemoCars, a nonprofit that offers rides to chemotherapy, radiation, and non-surgical cancer treatments, and provides various pro bono legal services, including drafting its bylaws and conflict of interest policy, guiding the organization through the process of obtaining its 501(c)(3) certification and providing intellectual property advice.
Develop form repurchase agreements for money-center banks in roll-out of warehouse lending programs
Closed multiple repurchase facilities involving performing and distressed mortgage loans and RMBS
Closed multiple financings of multistate residential tax liens
Represents sellers and buyers of prime, alt-a, subprime, and scratch and dent mortgage loans and servicing rights
Represents asset-backed securities (ABS) issuers in connection with public and private residential mortgage-backed securitizations, including resecuritizations and net interest margin (NIM) transactions
Represents asset-backed commercial paper conduits in trade receivables financings
Represents privately held and public companies in a variety of corporate transactions from organization through exit strategies
Represents lenders in connection with work-outs and special situations
Rutgers University School of Law, 1997, J.D., with high honors
Cornell University, 1989, B.A., Economics
Awards and Affiliations
Ranked, Capital Markets: Securitization: RMBS, USA, Chambers Global (2022–2024)
Ranked, Capital Markets: Securitization, USA, Chambers Global (2021)
Ranked, Capital Markets: Securitization: RMBS, Nationwide, Chambers USA (2020–2023)
Recommended, Finance: Structured finance: securitization, The Legal 500 US (2014–2016, 2019–2022)
Member, Advisory Committee, Outside General Counsel on a pro bono basis, New York Special Olympics (since 2007)
Board Member, The American Red Cross of Montclair-Glen Ridge-Nutley (NJ) (2008–2014)