Stephn M. Henne

Stephen specializes in using Intex and proprietary software to examine the structure and collateral of new and seasoned securitization transactions for KPMG’s Financial Risk Management practice. He has extensive experience reviewing MBS and ABS offering documents in order to reverse engineer models of “waterfall” distribution priorities, project cashflows, and resolve payment or reporting issues. He currently leads a team of 10+ modelers and managers in the delivery of Regulation AB compliance or payment verification engagements for 5 of the 6 largest private label MBS trustees. Previously, he and his team assisted an erstwhile trustee review its models and remediate payments for a portfolio of 750+ RMBS and CMBS transactions prior to divestiture.

In addition to addressing his clients’ Bond Administration needs, Stephen is also responsible for the planning, coordination, execution, and delivery of pre-settlement agreed-upon procedures (AUP) engagements for ABS issues and underwriters. He has worked with residential and commercial mortgages, student loans, credit cards, auto loans/leases, equipment leases, franchise agreements, and rooftop solar PV system receivables. Throughout his career, Stephen has gained valuable firsthand experience from several transformative structured finance initiatives including the Common Securitization Platform, Regulation AB II, the Volcker Rule, Dodd-Frank’s Risk Retention guidelines, various SFIG comment letters, and SAPC’s efforts to increase private investment in solar energy.