These included leading a Sallie Mae offering of $50 million in floating rate notes; joining the Federal Farm Credit Bank's bond selling group; and acting as co-lead manager in two Fannie Mae REMICS
and two swap trusts worth more than $1 billion.
Probably the most important sources right now are the REITs (real estate investment trusts) and the REMICs
(real estate mortgage investment conduits).
In particular, the innovations of collateralized mortgage obligations (CMOs) and real estate mortgage investment conduits (REMICs
) have resulted in securities that provide different claims and priorities on the principal and interest payments made on underlying loans, thus accommodating the various needs and preferences of investors.
Statement by Richard Spillenkothen, Director, Division of Banking Supervision and Regulation, Board of Governors of the Federal Reserve System, and Donald H. Wilson, Financial Markets Officer, Federal Reserve Bank of Chicago, before the Subcommittee on Policy, Research, and Insurance of the Committee on Banking, Finance and Urban Affairs, U.S. House of Representatives, May 6, 1992
* Real estate mortgage investment companies (REMICs
For federal income tax purposes, elections will be made to treat the trust as one or more real estate mortgage investment conduits (REMICs
Dupiton joins as director, focused on trading agency multifamily CMBS, including Fannie Mae DUS, Freddie Mac K certificates and Ginnie Mae multifamily REMICs
9463) expanding the list of permitted loan modifications to include certain modifications of commercial mortgages held by real estate mortgage investment conduits (REMICs
The Service has released final regulations relating to safe harbor transfers of noneconomic REMIC
residual interests in REMICs
As part of NAA/NMHC's efforts to restore liquidity to the commercial real estate market, NAA/NMHC and others are urging the Treasury Department to temporarily change the tax rules governing real estate mortgage investment conduits (REMICs
) that would allow CMBS servicers to begin loan restructuring talks with borrowers before the loans go into default.
The investments receiving the lowest ratings (and therefore are least appropriate based on the investor's goals) are commodities (47), individual retirement accounts--fixed (59), Keogh plans--fixed (59), life insurance--variable (60), Real Estate Mortgage Investment Conduits (REMICs
)--regular interests (60), and financial futures (60).
Members voiced industry concerns about banks in real estate, small business health plans, terrorism insurance, real estate mortgage investment conduits (REMICs
) and tax reform during 215 separate meetings with U.S.
And they encounter frustrations every day as they try to manage assets involved in real estate mortgage investment conduits (REMICs
) that are regulated by a 20-year-old law.