"An incredible legal strategist and a fantastic leader."Chambers USA
"'His academic and practical contribution to the field is outstanding,' say observers, adding that he 'wrote the book on securitization, literally' and 'has played a pivotal role in many regulatory initiatives.'"
Jason H.P. Kravitt is a senior counsel based in New York at the international law firm of Mayer Brown, which is one of the 12 largest law firms in the world. He served as the Co-Chairman of the firm’s Management Committee from June 1998 through June 2001 and served on that Committee from June 1997 until June 2009. Jason is also the founder of the firm’s securitization practice (one of the most highly rated law firm securitization practices in each of the US, Europe and Asia, by Chambers and Partners Rating Service (“Chambers”) and all other law firm rating services) and senior partner in that practice, and participates in a variety of finance and regulatory related practices. Jason has participated in or chaired numerous professional and law school seminars and conferences on securitization and written numerous articles for legal journals and professional publications, is Editor of, and a contributing author to, the two-volume treatise, Securitization of Financial Assets, Aspen Law & Business (2d ed. 2011), generally accepted as the seminal treatise in the industry, is on the Advisory Boards of The Financier, The Securitization Conduit and American Securitization publications, is an Adjunct Professor of Law at each of Northwestern University Law School and New York University Law School, an Adjunct Professor of Finance at the Kellogg Graduate School of Management of Northwestern University, is a Fellow in the American College of Commercial Finance Lawyers and is a member of the Advisory Board to the Duke Global Capital Markets Center. Jason has been chosen by Chambers as one of the top 100 internationally prominent lawyers and one of the top securitization lawyers in New York City and by Euromoney Legal Media Group as one of the “Best of the Best” in Structured Finance for the US. He has also been listed in Euromoney’s Guides to the World’s Leading Capital Markets Lawyers. Chambers quotes industry observers as saying that "His academic and practical contribution to the field is outstanding," that he "wrote the book on securitization, literally" and "has played a pivotal role in many regulatory initiatives." Jason is listed as a “pre-eminent securitization lawyer” (Chambers Global Guide), and has been called a “landmark of the industry” (Chambers USA 2006) and "Jason Kravitt, who 'wrote the bible on securitization" (Chambers USA 2009). “A leader in the securitization field for many years” (Chambers USA 2012). "An incredible legal strategist and a fantastic leader" (Chambers USA 2010) "Absolutely the number one lawyer in securitization" (Legal 500 USA 2009). “Commended for ‘industry and regulatory knowledge, strength of counsel, and accuracy in prediction” (Legal 500 USA 2010). Jason was chosen by Financial Times as one of the 10 most innovative lawyers in America in 2010 and as the best lawyer in securitization in NYC by “Best Lawyers 2012 Lawyers of the Year”, and was awarded in 2015 the Outstanding Achievement Award for Contribution to the Capital Markets by IFLR. Jason was named to Legal 500's list of Hall of Fame lawyers in 2017.
Jason often represents industry groups such as large issuers of Asset-Backed Securities, sponsors of ABCP Conduits, SIFMA, the American Securitization Forum and the European Securitization Forum with regard to securitization regulatory initiatives, including, for example, the Basel Committee on Banking Supervision’s Risk-Based Capital Consultative Papers, the F.F.I.E.C.’s Risk Based Capital projects, the F.A.S.B.’s Standards for Securitization, the F.A.S.B.’s Standard for Consolidation for SPEs, the SEC amendments to Rule 2a 7 and the SEC’s Regulation AB, and often helps to lead initiatives in the securitization industry during times of market or other stress. Jason is also one of the three founders and the former Deputy Chair of the US Securitization Industry’s premier trade association, the American Securitization Forum, and is a founder and the sole original member still serving on the Board of Directors of the European Securitization Forum.
Jason has helped the firm’s clients to create some of the most significant securitization products used in the capital markets today, including the first partially enhanced multi-seller asset-backed commercial paper vehicle, in 1989, the first CLO, FRENDS, in 1988, and the Mortgage Partnership Finance Program for the Federal Home Loan Banks. He has worked for clients such as ABN, Ally Bank, Bank of New York Mellon, Barclay’s Capital, BNP/Paribas, Calyon, CIBC, Citigroup, Commonwealth Bank of Australia, Credit Suisse, Deutsche Bank, EMI, GECC, GMAC, Goldman Sachs, HSBC, JP Morgan, Lehman Bros., Merrill Lynch, Morgan Stanley, PNC, Societe Generale, UBS, Wachovia, Westpac, and similar banks and issuers throughout his career. Most recently, Jason was hired by the (i) Sponsoring Banks of the Master Liquidity Enhancement Conduit to help lead the structuring of that vehicle, designed to be a $100 billion rescue of the SIV industry and (ii) Citigroup and Morgan Stanley to help lead the structuring of Straight-A Funding LLC, the $60 billion conduit to help rescue the financing of Student Loans. He is also often hired to help financial institutions deal with serious regulatory issues or government investigations or to settle major litigation or potential litigation such as the Bank of New York Mellon’s record-setting $8.5 billion settlement concerning 530 Countrywide RMBS trusts.
Jason has also served as Chairman of The Cameron Kravitt Foundation, a member of the Board of Managers of the Metropolitan Chicago YMCA, and a principal of Chicago United.
A Phi Beta Kappa graduate of The Johns Hopkins University in 1969 (where he has been Chairman of the Advisory Board to the Dean of the Krieger School of Arts & Sciences), Jason obtained his J.D. cum laude from Harvard Law School in 1972 and received a diploma in comparative law from Cambridge University in 1973.
- Creation of Straight-A Funding, LLC, a $60 billion asset-backed commercial paper conduit to finance the student loan industry with support from the Department of Education and the Federal Financing Bank.
- Creation of the form customer agreement documentation for the TALF program (and representing many of the primary dealers in their customer agreement negotiations) and several of the first TALF transactions.
- Represented industry groups such as large issuers of asset-backed securities, sponsors of ABCP Conduits, the Securities Industry and Financial Markets Association (SIFMA), and the European Securitization Forum with regard to securitization regulatory initiatives, including, for example, the Basel Committee on Banking Supervision’s Risk-Based Capital Consultative Papers, the FFIEC’s Risk-Based Capital projects, the FASB’s new Standards for Securitization, SFAS #125 and #140, the FASB’s Standard for Consolidation, Fin 46R, and SEC Amendments to Rule 2a-7 and Reg AB.
- Served as one of the organizers and senior officers of the securitization industry’s trade association, the American Securitization Forum.
- Represented the Sponsoring Banks in structuring the $100 Billion SIV rescue vehicle, Master Liquidity Enhancement Conduit.
- Helped to create some of the most significant securitization products used in the capital markets today, including the first partially enhanced, multi-seller, asset-backed commercial paper vehicle in 1989 and the first CLO, FRENDS in 1988.
University of Cambridge, Diploma, Comparative Law
Harvard Law School, JD, cum laude
The Johns Hopkins University, ABPhi Beta Kappa
- New York
- US Court of Appeals for the Seventh Circuit
- The Johns Hopkins University Alumni Advisory Council, 1991-1997, Advisory Board to the Dean of the School of Arts & Sciences, 1999 to 2009; Chair 2006-2007
- Chairman, The Johns Hopkins University Illinois Alumni Executive Committee, 1990-1994
- Director and Chairman, The Cameron Kravitt Foundation, 1985 to date
- Board of Managers, YMCA of Metropolitan Chicago, 1999-2001
- Principal, Chicago United, 1997-2001
- Deputy Chair, American Securitization Forum
- Director, European Securitization Forum
- Committee on Business Financing; Vice Chair Subcommittee on Securitization Litigation, American Bar Association,
- Chicago Bar Association Committees on Financial Institutions and Commercial Transactions
- Chicago Council of Lawyers
- Subcommittee on Securitization, New York City Bar Association
- Adjunct Professor of Law, Northwestern University School of Law
- Adjunct Professor of Finance, Kellogg Graduate School of Management of Northwestern University
- Fellow, American College of Commercial Finance Lawyers
- Advisory Board, The Financier and The Securitization Conduit, 1996 to date
- Advisory Board of The Securitization Conduit Publications
- Advisory Board, American Securitization
- Advisory Board, Duke University Capital Markets Center