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REMIC

   Also found in: Acronyms, Wikipedia 0.01 sec.
REMIC

Real Estate Mortgage Investment Conduit
The most common type of mortgage-backed security. A REMIC entitles the owner to a claim on the principal and interest payments on the particular mortgages underpinning the security. REMICs pay an interest rate that is usually related to the interest rates the homeowners are paying on their mortgages. The equivalent of the coupon on a mortgage-backed security is a percentage of the interest and principal paid on the mortgages backing the security. REMICs can take different legal forms: trusts, partnerships, and assets without a legal status. They qualify for special tax treatment. REMICs were established by the Tax Reform Act of 1986.

REMIC

REMIC

See real estate mortgage investment conduit.



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The Mortgage Bankers Association applauds the congressmen for their efforts to modernize the REMIC tax rules that govern commercial mortgage-backed securities [MBS] transactions," said Daniel Phelan, CMB, chairman of MBA's Commercial Real Estate/Multifamily Finance Board of Governors (COMBOG) and president and chief executive officer of Pacific Southwest Realty Services.
DLJ repackaged the $160 million Gold PC into a Freddie Mac REMIC security with two classes, tailoring the mortgages' cash-flows to meet investor demand.
DLJ repackaged the $160 million Gold PC into a Freddie Mac REMIC security with two classes, tailoring the mortgages' cash-flows to meet investor demand.
 
 
 
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