Additionally, the Treasury department issued final regulations (TD 9463) expanding the list of exceptions that will not be considered "significant modifications" of an obligation held by a REMIC
Servicers, however, said retesting would not take place in normal circumstances because they constituted significant modifications, which were not permitted under original REMIC
Freddie Mac Reverse REMIC
Giant PC securities are designed to provide a new, additional dimension of liquidity to the residential mortgage-backed securities market," said Mark Hanson, vice president for mortgage funding.
Information about Benchmark REMIC
Trust 2007-B2, of which the GMC is a part, will be available in the prospectus supplement on the Prospectus and Related Documents page of the company's Web site at http://www.
Short-term commercial financing, such as interim loans and bridge loans, can also be placed-in a FASIT with greater efficiency and at a lower cost than using a REMIC
structure because the FASIT has the capability to remove or take in additional assets in cases of over-collateralization.
The Offering Circular Supplement can be obtained by entering "R016" in the REMIC
Prospectus Lookup box.
Permitted assets include cash and cash equivalents, most debt instruments (qualified debt instruments), swaps or certain other reasonably required hedging assets, credit enhancement assets (such as insurance and guarantees), REMIC
regular (but not residual) interests and regular interests in other FASITs, and certain foreclosure property.
Freddie Mac guarantees the timely payment of principal and interest on its Reference REMIC
0 billion of Benchmark REMIC
Trust 2007-B1 as a Guaranteed Maturity Class (GMC) with a final maturity date of December 28, 2020.
At a time when traditional sources of capital remain scare, commercial property owners are now looking to the burgeoning REMIC
market to raise the cash they need to pay off loans coming due.
Congress decided in 1986 that any entity formed after 1991 that offered real-estate mortgage debt-backed securities with two or more maturities and that did not elect REMIC
status was to be taxed as a corporation and would not be eligible to join in filing a consolidated return.
11 /PRNewswire-FirstCall/ -- Freddie Mac today announced its intention to issue its next Reference REMIC