News & Analysis as of

Loans REMIC

Cadwalader, Wickersham & Taft LLP

IRS Private Letter Ruling Says CPACE Loans Qualify for REMIC Transactions

The IRS recently concluded that certain commercial property assessed clean energy (“CPACE”) assets are “obligations . . . secured by an interest in real property” under Code Section 860G(a)(3) in a private letter ruling...more

Cadwalader, Wickersham & Taft LLP

Exchange Trust Certificates in REMIC Transactions Qualify as Stripped Bonds or Coupons

On November 24, 2023, the IRS released PLR 202347001, ruling that certificates issued from an “exchange trust” qualify as stripped bonds or stripped coupons within the meaning of Code Section 1286. The taxpayer in the...more

Cadwalader, Wickersham & Taft LLP

No Need to Pretend – Just Extend – if Borrowers Ask to Delay Repayment

Today’s high interest rate environment presents a challenge to many commercial real estate borrowers whose loans are now reaching maturity. Some borrowers are unable to repay their loans, while others are approaching the loan...more

Dechert LLP

SASB: The (Shotgun?) Marriage of Mortgage and Mezz

Dechert LLP on

There’s a lot of reasons to structure a large loan destined for securitization as a mortgage in part and a mezzanine loan in part.  Sometimes it’s simply that the borrower is needy while the capital markets are charry.  In...more

K&L Gates LLP

COVID-19: Revenue Procedure 2021-12 Extension Of Treatment Of Mortgage Loan Forbearances And Modifications For Mortgage Loans In...

K&L Gates LLP on

Throughout the United States, periodic and ongoing businesses closures and disruptions continue to occur in response to the coronavirus (COVID-19) pandemic. The resulting economic distress has affected borrowers, including...more

K&L Gates LLP

COVID-19: Revenue Procedure 2020-26 (April 13, 2020) and the CARES Act

K&L Gates LLP on

Treatment of mortgage loan forbearances and modifications for mortgage loans in REMICs and fixed investment trusts - Throughout the United States, state and local governments have ordered various businesses to close in...more

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: IRS Issues Securitization Guidance on Coronavirus-Related Forbearances

On April 13, 2020, the Internal Revenue Service issued a helpful revenue procedure that permits loans that are subject to certain forbearances and related modifications as a result of the COVID-19 pandemic to be contributed...more

Alston & Bird

Risk Retention and RMBS

Alston & Bird on

Effective December 24, 2015, all securitizations of residential mortgage loans (RMBS), both public and private, will be subject to the Credit Risk Retention Rule (the “Rule”).[1] The Rule was promulgated on December 24, 2014,...more

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