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Experience
Jon Van Gorp leads the Chicago office’s banking and finance practice. His experience includes public and private securities offerings, assets sales, structured finance transactions, leveraged leases, derivatives, synthetic risk transfer programs and financial insurance. He brings this broad range of knowledge to bear for clients seeking to fund their operations, sell or acquire asset portfolios or businesses, or manage and hedge their exposures by buying and selling risk. During his tenure at Mayer Brown, Jon has been part of the legal team that completed many first of its kind transactions including the first auto leveraged lease transaction funded with asset-backed debt, the first synthetic transfer of risk related to a portfolio of consumer auto leases, the first issuance of bank debt guaranteed by Farmer Mac, the first auto receivables shelf registration statement to go effective under regulation AB, the first publicly offered CDO of mezzanine MBS debt, and the first securitization of Mexican mortgage loans funded in the US capital markets. He is highly skilled at finding ways to fund difficult to finance assets such as nonperforming mortgage loans, distressed ABS and MBS, mortgage servicing rights and servicing advances.
Jon has been ranked by Legal 500 USA for structured finance since 2007. In its 2009 and 2008 editions, Jon was one of a handful of lawyers in the United States that Legal 500 recognized as leading lawyers in the area of structured finance - derivatives and structured products. Legal 500s 2009 edition called Jon "one of the very best of the next generation." Its 2008 edition also projected him as "tipped for stardom" and quoted a competitor firm as saying "we would hire him as a lateral this minute."
In 2008, Jon was included on Crain's Chicago Business "40 Under 40" list, where he was applauded for his ability to "operate like an executive, moving beyond legal questions and offering strategic and tactical insight rare for a lawyer of his vintage." This is one of the most prestigious awards that a young professional can receive, and Jon now joins other "40 Under 40" alumni including President Barack Obama.
Jon has been ranked every year since 2005 by Chambers USA as a leading securitization lawyer. In 2006, he was recognized as "the most impressive young partner that one can hope to come across" and as someone who "surpasses his clients' very high expectations." Jon is also ranked by Chambers Global, which in its 2007 edition called him "extremely talented" and cited his work in structured finance transactions involving Madrona Residential Funding, Luminent Star Funding and Capital One Auto Finance. Chambers USA’s 2009 edition praised Jon’s ability to devise creative solutions to a variety of issues.
Jon is also named on the 2008 and 2009 "Illinois Rising Star List" featuring the top young lawyers in Illinois, as published by Chicago Magazine, and has been profiled by Who's Who Among Emerging Leaders, Who's Who in American Law, Who's Who in the Midwest, Who's Who in America and Who's Who in the World.
Jon is a frequent speaker and author on finance related topics. In 2008, Jon edited and co-authored Credit Market & Subprime Distress: Responding To Legal Issues , which is a best-selling legal treatise on the credit crisis published by the Practicing Law Institute. Reviews of this book have praised it for providing "a clear analysis of the relevant issues without getting bogged down in the minutiae of the procedures" - Peter Henning, Professor of Law, Wayne State University Law School.
Jon is also active in the greater Chicago community. In 2004, Jon was selected by Leadership Greater Chicago as a fellow to study key challenges facing the Chicago region. Jon is an adjunct professor at the John Marshall Law School, Chicago, Illinois and recently taught a course titled "Real Estate Credit Markets in Distress."
Notable Engagements
- Structured and negotiated multiple prime mortgage loan securitization transactions issuing both public and private securities.
- Structured and negotiated multiple subprime mortgage loan securitization transactions, including transactions with net interest margin (NIM) securities.
- Structured and negotiated multiple public auto loan and auto lease term securitization transactions, including transactions with asset-backed derivative instruments and financial guaranty insurance.
- Structured and negotiated multiple home equity loan securitization transactions issuing both public and private securities, including REMIC and non-REMIC structures for home equity lines of credit and home equity loans.
- Prepared multiple Regulation AB compliant shelf registration statements for auto receivables, mortgage loans and home equity loans, including registrations by foreign issuers.
- Structured and negotiated multiple single-seller mortgage loan funding warehouse programs, including programs structured as repurchase agreements.
- Structured and negotiated several securities arbitrage funding vehicles, including programs funded with extendible commercial paper and supported by market value swaps.
- Negotiated asset-backed interest rate and currency swap transactions, including transactions conforming with new criteria for ratings dependent swaps.
- Negotiated and documented multiple market value swaps for mortgage loan-backed and securities-backed funding vehicles.
- Negotiated credit derivatives for a large monoline insurance company.
- Structured and negotiated multiple one-off and flow asset purchase arrangements for mortgage loans and auto loans, ranging in size from $1 billion to $55 billion.
- Structured and negotiated several cross border mortgage loan securitization transactions, including transactions issuing publicly registered asset-backed securities.
more...
Education
Southern Methodist University Dedman School of Law, JD, cum laude, 1994; Staff Editor, The International Lawyer • Calvin College, BA, 1991
Admitted
- New York, 2004
- Illinois, 1998
- Texas, 1994
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