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CMBS Watch: Supporters Have High Hopes for REMIC Modernization Act This Year	By Erika Morphy

Supporters of the legislation to modernize real estate mortgage investment conduits were sorely disappointed last year when the proposal, fittingly called the REMIC Modernization Act, died in committee. It wasn’t that the proposed law was controversial or lacked support; rather, its defeat was due strictly to the fact that it had been attached to a particularly complex piece of tax legislation, the US Jobs Creation Act. But this year, legislation has been introduced in both the House of Representatives and the Senate, and proponents predict that—given its wide bipartisan support—it will finally be passed.

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