REFinBlog

September 30, 2013

Borden & Reiss on REMIC Failure, in a Big Way

Brad and I posted REMIC Tax Enforcement as Financial-Market Regulator to SSRN (as well as to BePress). The article is forthcoming in the University of Pennsylvania Journal of Law and Business and it provides our extended analysis of how the … Continue reading →

July 22, 2013

Dirty REMICs, Revisited

Brad and I have posted, Dirty REMICs, Revisited (also on BePress).  The abstract reads: We review the differences between two visions for the residential mortgage markets, one driven by the goal of efficiency and the other driven by the goals … Continue reading →

June 6, 2013

REMIC Armageddon on the Horizon?

Brad Borden and I have warned that an unanticipated tax consequence of the sloppy mortgage origination practices that characterized the boom is that MBS pools may fail to qualify as REMICs.  This would have massively negative tax consequences for MBS … Continue reading →

February 1, 2013

Borden and Reiss on Lawyers and REMICs

Our latest, Dirt Lawyers and Dirty REMICs, is on SSRN and BEPress.

December 5, 2012

Borden & Reiss: “Once a Failed REMIC, Never a REMIC”

This article analyses how courts may reach results that undercut arguments that REMICs were the owners of the mortgage notes and mortgages for tax purposes. And even if the majority of states rule in favor of REMICs, the few that … Continue reading →

November 26, 2012

Fleisher: “Why a Tax Crackdown Is Not Needed on Mortgage-Backed Securities”

In Why a Tax Crackdown Is Not Needed on Mortgage-Backed Securities, Professor Vic Fleisher argues that IRS enforcement of tax laws governing REMICs will merely complicate efforts to properly fix blame and allocate the costs of the financial crisis. Professor … Continue reading →

Borden: “Did the IRS Cause the Financial Crisis?”

In Did the IRS Cuase the Financial Crisis, Professor Brad Borden explains that competent IRS audits of REMICs would have uncovered many of the problems that led to the financial crisis. Competent audits and tax enforcement of REMICs would therefore have … Continue reading →