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Real Estate Mortgage Investment Conduits - REMIC
What does it mean?
A complex pool of mortgage securities created for the purpose of acquiring collateral. This base is then divided into varying classes of securities backed by mortgages with different maturities and coupons.
In Other Words...
As a synthetic investment vehicle, REMICs consist of a fixed pool of mortgages broken apart and marketed to investors as individual securities.
Related Links
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Related Terms
Collateralized Mortgage Obligation - CMO | Fannie Mae | Mortgage | Mortgage Backed Securities | Residual Interest | Synthetic | TBA
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