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Real Estate Mortgage Investment Conduit (REMIC)

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What is 'Real Estate Mortgage Investment Conduit - REMIC'

A special purpose vehicle (SPV) that is used to pool mortgage loans and issue mortgage-backed securities (MBS). Real estate mortgage investment conduits (REMIC) hold commercial and residential mortgages in trust, and issue interests in these mortgages to investors.

Explaining 'Real Estate Mortgage Investment Conduit - REMIC'

Similar to collateralized mortgage obligations (CMOs), REMICs piece together mortgages into pools based on risk, and issue bonds or other securities to investors. These securities then trade on the secondary mortgage market.


Further Reading


Springing real estate mortgage investment conduitSpringing real estate mortgage investment conduit
patents.google.com [PDF]
… Conversion. Real Estate Owned (REO) Property: A Mortgaged Property acquired by the Master Servicer through foreclosure or deed-in-lieu of foreclosure in connection with a defaulted Mortgage Loan. Swap …

REMIC Tax Enforcement as Financial Market RegulatorREMIC Tax Enforcement as Financial Market Regulator
heinonline.org [PDF]
… Conversion. Real Estate Owned (REO) Property: A Mortgaged Property acquired by the Master Servicer through foreclosure or deed-in-lieu of foreclosure in connection with a defaulted Mortgage Loan. Swap …

Collateralized Mortgage Obligations <span style=[2]' src='/thumbnails/?img=http%3A%2F%2Fsearch.proquest.com%2Fopenview%2F628d1345aea2f39a14819fed8670dbbb%2F1%3Fpq-origsite%3Dgscholar%26amp%3Bcbl%3D41798' />Collateralized Mortgage Obligations [2]
search.proquest.com [[2]' href='https:/api.miniature.io/pdf?url=search.proquest.com%2Fopenview%2F628d1345aea2f39a14819fed8670dbbb%2F1%3Fpq-origsite%3Dgscholar%26amp%3Bcbl%3D41798'>PDF]
… Conversion. Real Estate Owned (REO) Property: A Mortgaged Property acquired by the Master Servicer through foreclosure or deed-in-lieu of foreclosure in connection with a defaulted Mortgage Loan. Swap …

New rules of engagement for workouts: REMICs & distressed real estate loansNew rules of engagement for workouts: REMICs & distressed real estate loans
go.gale.com [PDF]
… Conversion. Real Estate Owned (REO) Property: A Mortgaged Property acquired by the Master Servicer through foreclosure or deed-in-lieu of foreclosure in connection with a defaulted Mortgage Loan. Swap …

The commercial real estate bubbleThe commercial real estate bubble
heinonline.org [PDF]
… Conversion. Real Estate Owned (REO) Property: A Mortgaged Property acquired by the Master Servicer through foreclosure or deed-in-lieu of foreclosure in connection with a defaulted Mortgage Loan. Swap …

Real Estate Mortgage Investment Conduits: Mortgage VehiclesReal Estate Mortgage Investment Conduits: Mortgage Vehicles
search.proquest.com [PDF]
… Conversion. Real Estate Owned (REO) Property: A Mortgaged Property acquired by the Master Servicer through foreclosure or deed-in-lieu of foreclosure in connection with a defaulted Mortgage Loan. Swap …

The effect of Real Estate Mortgage Investment Conduit regulations and standard pooling & servicing agreements on commercial mortgage backed security work out …The effect of Real Estate Mortgage Investment Conduit regulations and standard pooling & servicing agreements on commercial mortgage backed security work out …
dspace.mit.edu [PDF]
… Conversion. Real Estate Owned (REO) Property: A Mortgaged Property acquired by the Master Servicer through foreclosure or deed-in-lieu of foreclosure in connection with a defaulted Mortgage Loan. Swap …

Lodging real estate finance: SecuritizationLodging real estate finance: Securitization
digitalcommons.fiu.edu [PDF]
… Conversion. Real Estate Owned (REO) Property: A Mortgaged Property acquired by the Master Servicer through foreclosure or deed-in-lieu of foreclosure in connection with a defaulted Mortgage Loan. Swap …

Once a Failed REMIC, Never a REMICOnce a Failed REMIC, Never a REMIC
papers.ssrn.com [PDF]
… Conversion. Real Estate Owned (REO) Property: A Mortgaged Property acquired by the Master Servicer through foreclosure or deed-in-lieu of foreclosure in connection with a defaulted Mortgage Loan. Swap …



Q&A About Real Estate Mortgage Investment Conduit (REMIC)


How are REMICs similar to CMOs?

Both REMICs and CMOs piece together mortgages into pools based on risk, and issue bonds or other securities to investors. These securities then trade on the secondary mortgage market.

What is a special purpose vehicle?

A SPV is a legal entity that is used to pool mortgage loans and issue MBS.

What does the SPV hold in trust?

The SPV holds commercial and residential mortgages in trust.

Who issues interests in these mortgages to investors?

The SPV issues interests in these mortgages to investors.

What do REMICs use as collateral for their securities?

They use real estate assets as collateral for their securities.