AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
IRS Rule Aids Loan Mods.
Washington -- Servicers of residential mortgage-backed securities no longer have to wait for a borrower to miss a payment or even ask for help before they can offer the homeowner a loan modification, according to an Internal Revenue Service ruling.
The new IRS ruling encourages servicers to identify and assist borrowers that have a high risk of eventual foreclosure.
And it allows servicers to be proactive in preventing widespread foreclosures without jeopardizing the tax status of the Real Estate Mortgage Investment Corp.
"This is an important change that will allow more homeowners who may potentially get into trouble to have their loans modified prior to default," said Anne Canfield, executive director of the Consumer Mortgage Coalition.
In an example discussed in Revenue Procedure (2008-28), the servicer can elect to reduce the interest rate and principal on a loan for a borrower who has not responded to letters or phone calls and without the benefit ...
- Interest capitalization under section 263A(f): possible use of mandated...
- Magazine article from: Tax Executive May 1, 1992 700+ words
...taxpayer's specific interest rate for purposes of section...of the appropriate interest rate under section 263A...Department and the Internal Revenue Service are considering a proposal...to provide a uniform interest rate that would be used...
- IRS arbitrage rules revisions favor derivatives, but include proposals to...
- Magazine article from: The Bond Buyer Hume, Lynn Stevens May 18, 1994 700+ words
...proposed restrictions on interest rate caps that are troublesome...which the Internal Revenue Service issued on May 6 in...fixed-yield only interest rate swaps in which the...the IRS proposed for interest rate caps because they...
- Attractive Estate Planning Techniques For A Low-Interest Rate And...
- News wire article from: Mondaq Business Briefing June 3, 2008 700+ words
...more attractive in a low-interest rate environment. This is due...in part determined by the interest rate and the lower the interest rate, the lower the value of...published by the Internal Revenue Service (IRS) each month. The...
- Income tax evasion revisited: the impact of interest rate yields on tax-free...
- Magazine article from: Southern Economic Journal Cebula, Richard J. October 1, 2004 700+ words
...Presumably, the higher the interest rate yield on high-grade...relative to the taxable interest rate yield on 10-year...higher the tax-free interest rate yield on high-grade...income to the Internal Revenue Service (IRS). The probability...
- Derivatives rules should be broad, offer safe harbors, PSA advises IRS. (Public...
- Magazine article from: The Bond Buyer Hume, Lynn Stevens June 3, 1993 700+ words
...recent letter to the Internal Revenue Service. "The market clearly needs...short-term tax-exempt interest rate index floats above a specified...return for a payment or interest rate adjustment. The PSA letter...officials, could affect the interest rate conversion ...
- Internal Revenue Service Issues More Pension Protection Act Guidance.
- News wire article from: Mondaq Business Briefing February 6, 2007 700+ words
...1, 2007. The Internal Revenue Service (IRS) has just issued...Benefit Plans and the New Interest Rate Assumption Under Section...2006 made a change to the interest rate assumption to be used under...of 2006 using the wrong interest rate assumption, resulting in...
- Internal Revenue Service issues final version of original issue discount rules.
- Magazine article from: The Bond Buyer Hume, Lynn Stevens January 28, 1994 700+ words
WASHINGTON -- The Internal Revenue Service issued the final version of...is based on a multiple of an interest rate index. An example would be...interest payments correspond to an interest rate index. Bonds with objective...
- Pacific Capital Bancorp Comments on New Regulations and Proposal from the...
- Press release article from: Business Wire January 4, 2008 700+ words
...Treasury Department and Internal Revenue Service's release of the final rules applying...companies; (2) changes in the interest rate environment reducing interest margins or increasing interest rate risk; (3) deterioration in general...
