The FindLaw Legal Dictionary -- free access to over 8260 definitions of legal terms. Search for a definition or browse our legal glossaries.
Real Estate Mortgage Investment Conduit (Remic)
real estate mortgage investment conduit (remic)
- a security representing an interest in a trust having multiple classes of securities. The securities of each class entitle investors to cash payments structured differently from the payments on the underlying mortgages.
Source: U.S. Department of Housing and Urban Development