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IRS Will Examine REMIC Treatment.(real estate mortgage investment conduit)(Brief Article)
Government tax experts are reconsidering the way losses on interest-only strips are treated when investors get hit with heavy refinancings and interest payments disappear.
The current treatment has forced most individual investors away from real estate mortgage investment conduit IOs because they can only deduct losses against capital gains when the instrument is sold or terminated.
However, Treasury Department and Internal Revenue Service officials are proposing alternatives that could improve the pricing of REMIC IOs.
These proposals would allow individual investors and banks to deduct IO losses against current ordinary income when the original issue discount (OID) on the IO turns negative. Tax laws currently prohibit taking negative OID into account.
Treasury and IRS officials are "trying to resolve this problem and they are coming up with approaches that would be helpful," said Ramon Camacho, a tax partner at Shaw Pittman who ...
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- Magazine article from: The Practical Accountant December 1, 2005 700+ words
REMICS Rev. Rul. 2005-68 illustrates the interaction between the real estate mortgage investment conduit (REMIC) excess inclusion and the net operating loss rules. EARTHQUAKE IS QUALIFIED DISASTER Notice 2005-78 designates the...
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- Magazine article from: Origination News February 1, 2004 700+ words
C-BASS here has completed a real estate mortgage investment conduit deal backed by approximately $435 million of residential mortgages. The REMIC - C-BASS Mortgage Loan Asset-Backed Certificates...
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- Magazine article from: Builder December 1, 2000 700+ words
Real Estate Mortgage Investment Conduit (REMIC): A financial security that represents a beneficial interest in a trust having multiple classes of securities. The securities...
- New REMIC Planned.(real estate mortgage investment conduit)(Brief article)
- Magazine article from: Origination News May 1, 2006 700+ words
WASHINGTON -- Fannie Mae has introduced Benchmark REMIC (real estate mortgage investment conduit) securities which it expects to announce, price and settle its initial issue of sometime this quarter. Subsequently, it anticipates...
- Legislation Would Modify REMIC Definition.(Real Estate Mortgage Investment...
- Magazine article from: Mortgage Servicing News February 1, 2004 700+ words
...groups are eyeing proposed legislation that, if enacted, would modify the definition of a real estate mortgage investment conduit. The three real estate trade associations are working to come up with proposals which they will then pool to...
- Industry Leaders Hope to 'Loosen' REMIC Restrictions.(Real Estate Mortgage...
- Magazine article from: Mortgage Servicing News March 1, 2004 700+ words
...advantage of a "window of opportunity" to try to "loosen up some of the restrictions" on the Real Estate Mortgage Investment Conduit structure, Robert Vestewig, chief operating officer, GEMSA Loan Services, told a panel session at the MBA...
- Servicing pitfalls: how to avoid having your REMIC disqualified.(Real Estate...
- Magazine article from: Banking & Financial Services Policy Report O'Connor, William M. Bourguignon, Robert L. August 1, 2004 700+ words
A Real Estate Mortgage Investment Conduit (REMIC) is a creature of the federal tax code designed to encourage investment in commercial real estate. By severely restricting...
- MBA commends reintroduction of REMIC modernization legislation.(Business...
- Magazine article from: Mortgage Banking April 1, 2005 700+ words
...Foley (R-Florida) and Earl Pomeroy (D-North Dakota) for the reintroduction of the Real Estate Mortgage Investment Conduit (REMIC) Modernization Act. "The Mortgage Bankers Association applauds the congressmen for their efforts to...
- Patten Corp. announces private placement of real estate mortgage investment...
- Press release article from: Business Wire July 13, 1995 700+ words
BOCA RATON, FlaBUSINESS WIREJuly 13, 1995--Patten Corp. (NYSE:PAT) Thursday announced that it has completed the sale of approximately $66.1 million aggregate principal amount of Class A and Class B Adjustable Rate REMIC Pass-Through Certificates in a private placement. The securities were not
- New REMIC sees strong demand.(Real Estate Mortgage Investment Conduit)
- Newspaper article from: Asset Securitization Report Sibayan, Karen April 25, 2005 700+ words
Freddie Mac priced its inaugural $1.25 billion Reference REMIC transaction to great fanfare last week, achieving a 50% oversubscription rate for the 15-year Gold 5% backed deal. Reference REMIC R-001, class AE, a guaranteed maturity class with an April 15, 2015 final, tightened to a 74/73 bid/ask
Source: HighBeam Research, IRS Will Examine REMIC Treatment.(real estate mortgage investment...