Erik D. Klingenberg

Erik D. Klingenberg is a Partner and the Chair of Dentons' Capital Markets practice, specialising in structured finance, including all aspects of commercial and residential mortgage-backed securities, asset-backed securities and other structured products. His primary practice area is Capital Markets Law.

Ranked by Chambers Global and Chambers USA (2026), he is praised by clients as a "sophisticated," "hands-on," "creative," "extremely smart" and "excellent lawyer," with sources commending his "broad range of expertise and understand[ing] immediately what the client is trying to achieve," and acknowledging that he "always seeks out creative solutions no matter how complex the challenge is." He is recognised for his "significant expertise in mortgage-backed securities, especially in the single family rental market," with sources noting, "his background in bankruptcy law gives him an interesting perspective on esoteric matters that have a bankruptcy risk." He is one of only four lawyers ranked nationally for single-family rental securitisations, and is also ranked Band 1 for his experience in mortgage servicing rights, where Dentons is known for having a "destination practice."

He assumed an early, prominent role as counsel to various US government agencies and their efforts to restore the financial markets for a range of financial products and situations, including the US Treasury in connection with the Term Asset-Backed Securities Loan Facility (TALF), the US Department of Education in connection with the FFELP Student Loan Commercial Paper Conduit, the Federal Deposit Insurance Corporation (FDIC) in connection with the sale of IndyMac, and the Federal Reserve Bank of New York and JPMorgan Chase in connection with the Maiden Lane I commercial trust.

Representing issuers, underwriters and many other capital market participants, he has structured and documented a broad range of domestic, offshore and cross-border transactions. Ranked as a leading partner by The Legal 500 (2026), his practice focuses on complex, innovative structures, including master trusts and other revolving pool transactions, with assets ranging from residential and commercial mortgage loans, B notes and mezzanine loans to student loans, MSRs and servicing advances, energy receivables, leases and other asset-backed securities.

He is an adjunct professor of law at St. John's University School of Law, teaching the course Securitization, Structured Finance and Capital Markets.

He has served as lead counsel on numerous first-time transactions, including the TALF, a US$200 billion asset-backed securities-secured loan facility provided by the Federal Reserve Bank of New York (representing the US Treasury as subordinate lender); the FFELP CP Conduit, a commercial paper conduit backed by FFELP student loans supported by a put agreement provided by the US Department of Education; Maiden Lane, a more than US$8 billion commercial mortgage-backed securities trust, as part of the financing by the Federal Reserve Bank of New York of JPMorgan's acquisition of Bear Stearns; and Terra LNR1, a revolving CDO backed by participation interests in a pool of development loans (representing Barclays Capital Inc. as issuer and lead underwriter), which was awarded "2006 CMBS Deal of the Year" at the Total Securitization – US Securitization Awards.

Other first-time transactions include Windsor Funding Trust, a single seller conduit backed by GSE MBS and RMBS certificates sold under a Bankruptcy Code § 559 repurchase agreement; Mach One 2005-CDN1, a cross-border commercial real estate CDO backed by Canadian CMBS and US currency swaps; Spirit Master Funding, a revolving master trust backed by commercial real estate, leases, equipment loans and mortgage loans; and Master Funding LLC, a single-seller conduit backed by two separate pools of mortgage loans and wrapped by a credit default swap.

His recognition includes being ranked Nationwide for Capital Markets: Securitization by Chambers USA (2008, 2010–2026); ranked Band 1 for Securitization: MSR, Band 2 for Securitization: Single Family Rental, Band 3 for Securitization: ABS and Band 3 for Securitization: RMBS; ranked in Capital Markets: Securitisation – USA (MSR, SFR, ABS, RMBS) by Chambers Global (2010–2026); listed as a Leading Lawyer, Structured Finance: Securitization, by The Legal 500 US (2024–2026) and as a Recognized Lawyer (2014–2016, 2018–2023); and listed as Lawyer of the Year: Securitization and Structured Finance Law by Best Lawyers in America (2026) and in Best Lawyers in America, Securitization and Structured Finance Law (2021–2026).

He is a member of the New York State Bar Association, the CRE Finance Council and the Structured Finance Industry Group. He was formerly a partner with the law firm of Thacher Proffitt & Wood LLP.

He holds a JD, magna cum laude, from St. John's University School of Law (1993), where he was executive notes and comments editor of the St. John's Law Review, and a BA from Hofstra University (1989).