Mortgages, Internal Revenue Code (IRC)

IRS Private Letter Ruling Says CPACE Loans Qualify for REMIC Transactions

Cadwalader, Wickersham & Taft LLP on 7/25/2024

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

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

Cadwalader, Wickersham & Taft LLP on 12/21/2023

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

Weekly IRS Roundup May 8 – May 12, 2023

McDermott Will & Emery on 5/16/2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of May 8, 2023 – May 12, 2023...more

Mortgage or other Third Party Loan Investments in Your Plan? Do they Pass Muster under IRS Issue Snapshot?

Pullman & Comley - Labor, Employment and... on 8/31/2022

The IRS Issue Snapshot-Third Party Loans from Plans dated August 23, 2022 is a short advice document for examiners to use when auditing tax-qualified retirement plans that invest in mortgages or other third party loans. IRS...more

Either An Investor or a Dealer Be – That is the Question

Rivkin Radler LLP on 6/15/2022

The Housing Market- During the first quarter of 2022, the housing market accounted for 16.7 percent of gross domestic product (“GDP”). This figure represents a return to historic norms following the substantial reduction...more

CFPB Issues TRID Rule FAQs on BUILD Act Partial Exemption

Ballard Spahr LLP on 5/17/2021

The CFPB recently issued an update to its Truth in Lending Act (TILA)/Real Estate Settlement Procedures Act (RESPA) Integrated Disclosure (TRID) rule FAQs to address a partial exemption added by the Building Up Independent...more

The Taxpayer First Act and the Impact on Secondary Market Participants

Mayer Brown on 2/12/2020

The Taxpayer First Act (the “Act” or “TFA”) imposes new limits on the disclosure of US taxpayer tax information obtained on or after December 28, 2019. The Act is designed, among other things, to overhaul and modernize...more

Summary of Tax Cuts and Jobs Act

Schwabe, Williamson & Wyatt PC on 12/29/2017

The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by President Donald Trump on December 22, 2017. The Act changes many provisions of the Internal Revenue Code, from individual and business provisions, to...more

Highway Funding Bill Includes Significant Changes to Tax Rules

Morgan Lewis on 8/10/2015

Unexpected changes in FBAR, corporate and partnership returns, and statute of limitations and mortgage reporting tax rules are embedded in funding bill H.R. 3236. When US President Barack Obama extended funding for...more

Recent Legislative Developments Will Create Headaches and Increase Financial Risks for Mortgage Servicers and Originators

K&L Gates LLP on 7/27/2015

Two recent legislative developments, which have largely gone unnoticed, will dramatically raise the stakes for mortgage servicers and originators who file IRS Forms 1098. First, the Trade Preferences Extension Act of 2015,...more

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