Addition of REMICs following restructure of Secured Debt

[valdensmith]

Background

Following the restructure of Secured Debt in CDM for Eligible Collateral and discussions with the CDM Collateral working group. It was a follow up requirement to add REMICs (Real Estate Investment Mortgage Conduit). these are special purpose vehicles that take a pool of mortgages and issues mortgage-backed securities.
Therefore a REMIC being an SPV, secured by a pool of MBS, that is broken into tranches for investors, it is proposed to be best represented in CDM as an issuer (SPV) that is guaranteed by a Quasi Government Agency (Freddie Mac, Fannie Mae etc).

Proposal

Determine and agree with CDM Collateral WG the best approach to model REMICs for identity in eligible collateral schedules

Compatibility

TBD

Release

TBD

Additional Context

No response