REMIC

• “REMICs The details are mind-numbing, but masochists are invited to Google the word REMIC.”

  The Full Feed from HuffingtonPost.com

• “But when the REMIC is set up, no one knows which homes will default first.”

  The Huffington Post: Ellen Brown: Time to Break Up the Too-Big-to-Fail Banks?

• “This allows them to qualify as a Real Estate Mortgage Investment Conduit ( "REMIC") rather than an ordinary Real Estate Investment Trust ( "REIT").”

  The Huffington Post: Ellen Brown: Time to Break Up the Too-Big-to-Fail Banks?

• “The channels for the securitization are tax free under a special type of law "REMIC", and in exchange for that the trusts have to be setup correctly from the get go.”

  Countrywide Never Sent Mortgages to Trust -- Seeking Alpha

• “A REMIC Trustee could never claim it owned a mortgage loan.”

  The Huffington Post: Ellen Brown: Time to Break Up the Too-Big-to-Fail Banks?

• “To file as a REMIC, and in order to avoid one hundred percent”

  The Huffington Post: Ellen Brown: Time to Break Up the Too-Big-to-Fail Banks?

• “The "Trustee" can not own the assets of the REMIC.”

  The Huffington Post: Ellen Brown: Time to Break Up the Too-Big-to-Fail Banks?

• “As long as the MBS is a qualified REMIC, no income tax will be charged to the MBS.”

  The Huffington Post: Ellen Brown: Time to Break Up the Too-Big-to-Fail Banks?

• “But the "pool" is the trust; and to qualify as a REMIC trust, it can own nothing.”

  The Huffington Post: Ellen Brown: Time to Break Up the Too-Big-to-Fail Banks?

• “One of the rules requires that the mortgages in the REMIC trust must all be added to it at the time of its creation, and no additional assets may be placed in the trust after this point.”

  The Huffington Post: Ray Brescia: Truth and Consequences: Loans, Lies and Notary Stamps

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