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remic

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Financial Dictionary

REMIC

See real estate mortage investment conduit.

Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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Legal Dictionary

Main Entry: REMĀ·IC
Pronunciation: 're-mik
Function: noun
Etymology: 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
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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Abbreviations & Acronyms
REMIC
real estate mortgage investment conduit
The American Heritage® Abbreviations Dictionary, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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