SEDA Expands Its Structured Finance, Risk Management, and Capital Markets Practices with the Addition of Phillip Millman
SEDA Experts LLC, a leading expert witness firm providing world-class financial expert witness services, announced today that Phillip Millman joined the firm as Managing Director.
New York, NY, Aug. 05, 2026 (GLOBE NEWSWIRE) — SEDA Experts LLC, a leading expert witness firm providing world-class financial expert witness services, announced today that Phillip Millman joined the firm as Managing Director.
“We are delighted to bring Philip’s extensive public and private sector experience to the clients of SEDA Experts,” said Peter Selman, Managing Partner of SEDA Experts.
Phillip H. Millman is an expert in mortgage finance, structured products, capital markets, financial regulation, and risk management. He held senior positions at FHFA for more than two decades. His experience spans residential and commercial mortgage-backed securities (RMBS and CMBS), asset-backed securities, fixed-income markets, credit analysis, valuation, regulatory policy, large financial company supervision, and complex commercial litigation.
At FHFA, Mr. Millman advised agency leadership, senior government officials, and members of Congress on housing finance, financial markets, regulatory developments, and emerging risks affecting Fannie Mae, Freddie Mac, and the Federal Home Loan Banks. Moreover, he authored regulations, produced market research, and developed strong relationships with legislative staff.
Mr. Millman led the business and financial aspects of the federal government’s largest commercial litigation, which focused on private label residential mortgage-backed securities sold to Fannie Mae and Freddie Mac. His responsibilities included advising legal teams on mortgage markets, servicing, valuation, risk management, overseeing multidisciplinary experts, and conducting financial analyses in support of litigation and settlement decisions.
He also played a key role in the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act, serving as FHFA’s lead negotiator on risk-retention and qualified residential mortgage requirements. Further, he chaired a six federal agency subcommittee addressing qualified commercial real estate mortgages and contributed to the development of regulations governing RMBS, CMBS, and securities supervision.
Before joining the federal government, Mr. Millman held capital markets, structured finance, and risk management positions at E*TRADE Financial, Fannie Mae, UBS Warburg, PwC, Deutsche Bank, and Bear Stearns. His experience included managing, analyzing and structuring RMBS and asset-backed securities. Mr. Millman also developed fixed-income risk management systems.
Mr. Millman serves on the Editorial Board of the Structured Finance Journal. He earned a B.A. in Economics from the University of Chicago and completed executive training in negotiation at Harvard University.
About SEDA Experts LLC
SEDA is a leading expert witness firm specializing in financial services. We support international law firms by offering the highest level of expertise across the financial industry and providing access to the most influential financial services industry leaders. We provide superior independent advice, data analytics, valuation, and elite expert reports and testimony services to law firms, regulators, and leading financial institutions.
CONTACT: Name: Peter Selman Email: pselman@sedaexperts.com Job Title: Managing Partner
