Definition of "REMIC"
  1. Real estate mortgage investment conduit: a special type of entity, such as a corporation, trust, or partnership, that is purposefully established for investing in mortgage obligations. These entities usually invest in collateralized mortgage obligations and benefit from tax advantages. They ensure continuous cash flow and maintain reserves, and may also invest in properties that result from foreclosed underlying mortgages
How to use "REMIC" in a sentence
  1. The bank established a REMIC to invest in mortgage obligations.
  2. When the property was foreclosed, the REMIC was able to secure it for investment.
  3. Due to the favorable tax treatment, more investors are considering investing in a REMIC.

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