Abstract

http://ssrn.com/abstract=2146699
 


 



Wall Street Rules Applied to REMIC Classification


Bradley T. Borden


Brooklyn Law School

David J. Reiss


Brooklyn Law School

August 31, 2012

Thomson Reuters News & Insight, September 2012
Brooklyn Law School, Legal Studies Paper No. 294

Abstract:     
Investors in mortgage-backed securities, built on the shoulders of the tax-advantaged Real Estate Mortgage Investment Conduit (“REMIC”), may be facing extraordinary tax losses because of how bankers and lawyers structured these securities. This calamity is compounded by the fact that those professional advisors should have known that the REMICs they created were flawed from the start. If these losses are realized, those professionals will face suits for damages so large that they could put them out of business.

Number of Pages in PDF File: 14

Keywords: mortgage-backed securities, Real Estate Mortgage Investment Conduit, REMIC, MERS, Mortgage Electronic Recording System, double taxation, tax-advantaged, MBS

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Date posted: September 16, 2012 ; Last revised: September 30, 2012

Suggested Citation

Borden, Bradley T. and Reiss, David J., Wall Street Rules Applied to REMIC Classification (August 31, 2012). Thomson Reuters News & Insight, September 2012; Brooklyn Law School, Legal Studies Paper No. 294. Available at SSRN: http://ssrn.com/abstract=2146699

Contact Information

Bradley T. Borden (Contact Author)
Brooklyn Law School ( email )
250 Joralemon Street
Brooklyn, NY 11201
United States

David J. Reiss
Brooklyn Law School ( email )
250 Joralemon Street
Brooklyn, NY 11201
United States

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