The name of a type of mortgage-backed pass-through security. REMICs can take many forms. REMICs are typically multiclass securities. Unlike simple, non-REMIC CMOs, REMICs can separate mortgage pools into different risk classes as well as different maturity classes. Some of the most common forms of REMICs are sequential pay CMOs, planned amortization class (PAC) tranches, targeted amortization class (TAC) tranches, and companion tranches. REMICs may also have interest-only tranches, principal-only tranches, and residual tranches. Today almost all CMOs are issued in REMIC form to take advantage of provisions in the Tax Reform Act of 1986. However, even though REMICs are overwhelmingly dominant in the CMO market, the term "REMIC" is used far less often than the term "CMO." CMO is used to refer to all forms of MBSs other than simple pass-through MBS pools.

A pass-through tax entity that can hold mortgages secured by any type of real property and can issue multiple classes of ownership interests to investors in the form of pass-through certificates, bonds, or other legal forms. A financing vehicle created under the Tax Reform Act of 1986.

Is a vehicle to minimize double taxation of income from a pooling of mortgages.

The Tax Reform Act of 1986 created a new entity, the REMIC. The purpose of a REMIC is to hold a fixed pool of mortgages and issue interests in itself to mortgage investors. A REMIC may be a partnership, corporation, trust, or separate pool of assets. REMICs are intended to become the exclusive means for issuing multiple-class mortgage backed securities in a form that avoids the corporate double tax.

A security that represents a beneficial interest in a trust having multiple classes of securities. The securities of each class entitle investors to cash flows structured differently from the payments on the underlying mortgages.

A REMIC is a vehicle created under the Tax Reform Act of 1986 for issuing mortgage-backed securities. REMICs may be structured as corporations, partnerships, trusts, or as a segregated pool of assets and will not be subject to taxation at the issuer level in compliance with the requirements of the act.

An entity through which an issuer can sell multiple class securities with call protection to investors. A REMIC may be a corporation, trust, association, or partnership, but in order to qualify, it must confine its investments to mortgages, cash, government securities, foreclosure property acquired in connection with imminent default of a mortgage, or other REMICs. Typically, a REMIC invests in a pool of mortgages, and sells interests in those mortgages through securities with one or more senior classes and a subordinated class that assumes the credit risk of defaults and delinquencies. This creates a form of self-insurance that increases the investment ratings for the senior securities. A REMIC does not keep its mortgage assets on its books, but sells them to investors through its securities.

Created by TRA '86; allows companies to be formed for trading in mortgage pools and escaping double tax imposed on corporations.

An entity that is formed for the purpose of holding a fixed pool of mortgages secured by interests in real property, with multiple classes of interests held by investors. These interests may be either regular or residual.

A tax entity that issues multiple classes of investor interests (securities) backed by a pool of mortgages. (See securitization)

A kind of "mutual fund" that invests in real estate mortgages rather than stocks and bonds.

Real Estate Mortgage Investment Conduit in short is known as REMIC. REMIC is an investment-grade mortgage bond, which separates mortgage pools into different maturity and risk categories.

REMICs may be partnerships, corporations, trust, etc. and are used to hold a fixed pool of mortgages, which are then marketed as tax exempt mortgage backed securities for investors.

REMIC A vehicle, created by the Tax Reform Act of 1986, which permits the sale of interests in mortgage loans in the secondary market. It is a pass-through entity that can hold loans secured by real property and issue multiple classes or investors without the regulatory, accounting and economic obstacles inherent with other forms of mortgage-backed securities.

Real Estate Mortgage Investment Conduit, or REMIC, is an investment-grade mortgage bond that separates mortgage pools into different maturity and risk classes.