REMIC
noun
REM·IC
ˈre-mik
: an entity (as a corporation, partnership, or trust) that functions as a vehicle for investment in mortgage obligations and especially 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 trustDictionary Entries Near REMIC
Cite this Entry
“REMIC.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/REMIC. Accessed 2 Dec. 2024.
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