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Firm resume

Eichner Norris & Neumann PLLC is a Washington, D.C. law firm of nine attorneys (two partners, three associates and four of counsel) and two financial analyst/paralegals specializing in all aspects of tax-exempt municipal bond finance and in certain types of taxable structured debt financing transactions. Our attorneys have a combined total of over 100 years’ experience serving as counsel on a wide range of municipal bond financings. These financings have involved over 3,000 separate transactions over the past 35 years aggregating many billions of dollars in principal amount in virtually every state in the United States.

Our firm also prides itself in having substantial tax law and financial expertise, as well as other legal expertise, in these transactions. Three of our lawyers have MBAs as well as law degrees, and most of our other attorneys have educational backgrounds in business and finance as well as law. In addition, the firm has substantial experience and expertise running cash flow analyses, performing rebate and defeasance computations and preparing yield proofs on a wide range of financings. Our cash flow and yield certifications are accepted by the major rating agencies and credit enhancers of tax-exempt bonds.

The majority of our practice involves housing bond financings, primarily multifamily, but also includes single family housing, healthcare and other bond financed transactions. During the past five years, the firm believes it has ranked first or second in the United States in the number of tax-exempt multifamily housing bond or loan financings in which the firm served as underwriter’s or private placement purchaser’s counsel. The firm also serves as special bond matters counsel to borrowers in connection with the development, purchase and sale and financing of bond financed properties. The firm has also worked extensively with and for the Federal Housing Administration and the Department of Housing and Urban Development, Freddie Mac and Fannie Mae addressing the bond related aspects of their programs. Additional information on our firm’s recent experience in tax-exempt multifamily housing bond financings, including representative clients, is set forth in Appendix A.

During their careers, our attorneys have often played a major role in developing new financing techniques in the area of tax-exempt finance, and we believe that our lawyers are viewed as among the nation’s leading practitioners in this area. Within the area of bond finance, we believe we have been involved in every major type of financing which the market has seen in the past 35 years. These financings have involved various types of credit enhancements, including enhancements provided by FHA, Ginnie Mae, Fannie Mae, Freddie Mac, the Federal Home Loan Banks, municipal bond insurance with all the major bond insurers, bank letters of credit, insurance company guaranties and credit enhancement devices provided by other institutions, as well as short-term “cash backed” tax-exempt bond financings. Many of these financings have been multiple-tier financings utilizing senior/subordinated and other structures to achieve an optimal securitization of project cash flows. In the recent past, the firm has also participated in the development of several state-of-the art securitization structures for pools of unrated, noncredit-enhanced bonds, and the firm has represented both borrower and program sponsors with respect to the interest rate caps, swaps, total return swaps and other derivative products used in these transactions.

           

The firm believes it has a unique level of expertise in the federal tax and securities laws, rating agency requirements, credit enhancement programs, market factors, financial structures and other critical variables affecting both tax-exempt bond financings and taxable financings. In addition, we believe our attorneys, through their decades of experience in tax-exempt bond and loan finance and FHA/GNMA backed financings, have a long-standing extensive network of relationships with most of the major participants throughout the United States, and its territories and possessions in these areas of municipal bond finance and taxable finance. We believe these factors enable our firm to deliver a unique level of service and expertise to our clients in the design as well as the implementation of the financings in which we are involved.

The majority of our practice involves housing bond financings, primarily multifamily but also includes a significant amount of single family housing and healthcare bond financed transactions.