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REMICS

 Real Estate Mortgage Investment Conduits



Real estate mortgage investment conduit

A real estate mortgage investment conduit is "an entity that holds a fixed pool of mortgages and issues multiple classes of interests in itself to investors" under U.S. Federal income tax law and is "treated like a partnership for Federal income tax purposes with its income passed through to its interest holders". REMICs are used for the pooling of mortgage loans and issuance of mortgage-backed securities and have been a key contributor to the success of the mortgage-backed securities market over the past several decades.
https://www.investopedia.com/terms/r/real-estate-mortgage-investment-conduit-remic.asp

KEY TAKEAWAYS

  • A real estate mortgage investment conduit (REMIC) is a special purpose vehicle (SPV) that is used to pool mortgage loans and issue mortgage-backed securities (MBS).
  • REMICs were first authorized by the enactment of the Tax Reform Act of 1986.
  • A real estate mortgage investment conduit (REMIC) may be organized as a partnership, a trust, a corporation, or an association and is exempt from federal taxes.

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