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IRS Announces New REMIC Rules |
October 8, 2009
Previously published on September 29, 2009
On September 15, 2009, the United States Internal Revenue Service (IRS) released two significant pronouncements relating to modifications of loans held by real estate mortgage investment conduits (REMICs). The new rules significantly relax the previous IRS restrictions on such modifications. The IRS action responded in part to problems that have affected the commercial mortgage market during the current economic crisis, and in part to long-standing concerns that have been raised by industry participants.
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The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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