FREDERICK L. FELDKAMP

Mr. Feldkamp is a retired partner of the law firm Foley & Lardner, LLP. He was a member of Foley’s Finance & Financial Institutions Practice, and its Automotive and Energy Industry Teams. He has worked in the firm’s Milwaukee, Chicago, and Detroit offices and has advised clients on business, tax, regulatory, and financial law for the past four decades.

In 1973, Mr. Feldkamp provided the legal basis for Foley’s pioneering bankruptcy opinion that permitted issuance of America’s first rated private mortgage-backed security in the post-Depression era. Throughout the years, he has provided creative legal advice to support numerous securitization innovations that include:

• Several structures used to fund the retail and wholesale sale, and lease, of automobiles
• Creation of the largest foreign-owned Japanese mortgage service firm, through sponsorship of the largest nonbank financial-institution reorganization in Japan (2000)
• Utility transition securities, including the largest ABS offering of 1998
• The first stand-alone collateralized mortgage obligation (1983)
• Exemptive proceedings permitting several firsts, including grandfathering under Rule 2a-7, home loan conduit, and partial pool CMOs

His practice has included counseling U.S. and multinational corporations, international financial organizations, domestic and foreign regulatory agencies, and self-regulatory organizations on a variety of financial services matters. Mr. Feldkamp has consulted on projects to enhance legal, regulatory, and accounting rules to facilitate securitization in countries throughout the world.

Other areas of Mr. Feldkamp’s practice include representation of financial service companies on all aspects of business, including corporate law, mergers and acquisitions, regulatory and operational matters, workouts, reorganizations, and bankruptcy matters. In addition, he has been involved in numerous bank, thrift, and finance company restructurings. He has advised on highly leveraged bond transactions, including procedures to assure legal compliance, and as counsel in proceedings to unwind and reorganize highly leveraged issuers.

In addition to his numerous publications (listed below), he was the contributing author for legal issues affecting AU Section 9336 published in October 2001 by the Auditing Standards Board of the American Institute of Certified Public Accountants. The audit guidance applies to any legal opinion that may be required to support accounting sale treatment for the transfer of financial assets by U.S. firms. Mr. Feldkamp has also given numerous speeches on U.S. securitization issues for the American Law Institute, the World Bank, the People’s Republic of China, and for banks, investment banks, and banking and other regulatory groups in the United States and in countries throughout Asia.

Mr. Feldkamp was peer review rated as AV Preeminent, the highest performance rating in Martindale-Hubbell’s peer review rating system, and was named one of the leading lawyers in Illinois by the Leading Lawyers Network. He was also included on the list of 2006 Michigan super lawyers by Law & Politics Media for his work in banking and on worldwide lists of leading financial lawyers.

Mr. Feldkamp graduated from the University of Michigan (JD, magna cum laude, Order of the Coif, 1971; AB, economics, with distinction, 1968) and was a student fellow with the Research Seminar in Quantitative Economics. He was the legal profession representative invited to serve on the FASB 140 Audit Issues Task Force of the American Institute of Certified Public Accountants.

RICHARD CHRISTOPHER WHALEN

Christopher is an investment banker and author who lives in New York. He is Senior Managing Director and Head of Research at Kroll Bond Rating Agency (www.kbra.com), where he is responsible for financial institution and corporate credit ratings. Over the past three decades, he has worked for financial firms such as Bear, Stearns & Co., Prudential Securities, Tangent Capital Partners, and Carrington. He was a cofounder of Institutional Risk Analytics and was a principal there from 2003 through 2013, when the firm was acquired by Total Bank Solutions.

Christopher is the author of Inflated: How Money and Debt Built the American Dream (Hoboken, NJ: John Wiley & Sons, 2010), now in its second printing.

Christopher is a member of the advisory board of Weiss Residential Research in Natick, Massachusetts (www.weissres.com). He is a fellow of the Networks Financial Institute at Indiana State University. Christopher is a member of the Finance Department Advisory Council at the Villanova School of Business and a member of the Economic Advisory Committee of the Financial Industry Regulatory Authority (FINRA).

Christopher is a member of the National Association of Business Economists. He is a member of Professional Risk Managers International Association (www.prmia.org) and was regional director of PRMIA’s Washington, DC, chapter from 2006 through January 2010.

Christopher contributes articles to publications such as Zero Hedge, American Banker, Housing Wire, and the National Interest. Christopher has testified before Congress, the Securities and Exchange Commission, and the Federal Deposit Insurance Corporation on a range of financial, economic, and political issues. He appears regularly on such media outlets as CNBC, Bloomberg Television, Fox News, and Business News Network. He is active in social media under the Twitter handle @rcwhalen.

A partial listing of his speeches, articles, and interviews is available online at www.rcwhalen.com.