Real Estate Mortgage Investment Conduits (REMICs)
We have extensive experience advising clients on all aspects of real estate mortgage investment conduits (REMICs), including:
- Structuring regular and residual interests in REMICs
- Formation of REMICs
- Loan modification issues (significant modification test and exceptions to circumstances in which significant modifications result in prohbited transactions and/or loss of qualified mortgage status)
- REMIC taxation issues
We regularly counsel clients on the issues relating to all aspects of REMICs, and continually monitor the ever-changing landscape of relating to REMICs' ability to modify debt instruments in connection with non-performing (to expected to be non-performing) loans.