Posted on: 03rd Apr, 2004 03:00 am
Real Estate Mortgage Investment Conduit (REMIC) is an investment grade mortgage bond that separates mortgage pools into different maturity and risk classes. REMIC may be a corporation, trust, association or partnership. It invests in mortgages, cash, government securities, etc.
It refers to a security that represents a beneficial interest in a trust having multiple classes of security. An issuer can sell multiple class securities with call protection to investors. It can issue multiple classes of ownership interests to investors in the form of bonds or other legal forms. It does not keep its mortgage assets on its books, but sells them to investors through its securities.
It refers to a security that represents a beneficial interest in a trust having multiple classes of security. An issuer can sell multiple class securities with call protection to investors. It can issue multiple classes of ownership interests to investors in the form of bonds or other legal forms. It does not keep its mortgage assets on its books, but sells them to investors through its securities.
What is an Asset Investment Trust can this be used to purchase Foreclosed Properties
Hi T,
As far as I know, Asset Investment Trust is mainly established in a foreign country. This is made in order to make the trust's principal inaccessible to creditors. I don't think you will be able to use it to purchase foreclosed property.
Thanks
As far as I know, Asset Investment Trust is mainly established in a foreign country. This is made in order to make the trust's principal inaccessible to creditors. I don't think you will be able to use it to purchase foreclosed property.
Thanks