Legal Dictionary
Main Entry:
REMĀ·ICPronunciation:
're-mikFunction:
nounEtymology:
real
estate
mortgage
investment
conduit
: an entity (as a corporation, partnership, or trust) that functions as a vehicle for investment in mortgage obligations and esp. collateralized mortgage obligations and receives favorable tax treatment by restricting its own investment to the maintenance of cash flow and reserves and to investment in properties acquired from foreclosure on the underlying mortgages called also
real estate mortgage investment conduit —compare
pass-through security at
SECURITY real estate investment trust at
TRUST