Document Type
Article
Comments
This article predates Prof. Reiss's affiliation with Cornell Law School. It appeared in published form in: 30 Cayman Financial Review (2013).
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 (or failed to structure) 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.
Date of Authorship for this Version
8-31-2012
Keywords
Mortgage-backed securities, Real Estate Mortgage Investment Conduit, REMIC
Recommended Citation
Borden, Bradley T. and Reiss, David J., "Once a Failed REMIC, Never a REMIC" (2012). Cornell Law Faculty Working Papers. 165.
https://scholarship.law.cornell.edu/clsops_papers/165
Included in
Banking and Finance Law Commons, Property Law and Real Estate Commons, Securities Law Commons