The Impact Of Updated REMIC Regulations

Law360, New York (September 29, 2009, 11:55 AM EDT) -- On Sept. 15, 2009, the Treasury promulgated final regulations updating the rules related to modifications of loans held in real estate mortgage investment conduits (or “REMICs”).

The changes in the REMIC regulations, which apply to all loan modifications on or after Sept. 16, 2009, may have a material impact on servicers of securitized loans because they change the former rules governing modification of such loans.

Those rules provided that a “significant modification” of such a loan could cause the loan to cease to be a “qualified...
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