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Real Estate Mortgage Investment Conduit (REMIC)
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A collateralized mortgage obligation (CMO) issued after January 1, 1987, under legislation designed to eliminate certain tax and regulatory problems which limited issuer and investor participation in multiple series (tranche) CMOs. See also Collateralized Mortgage Obligation (CMO), Stripped Mortgage-Back Security (SMBS), Mortgage-Backed Securities, Tranche.
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