Mortgage-backed Securities : Tax, Accounting, and Securities Law Considerations Open Access
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This paper will consider various aspects of Federal income tax, securities law, and accounting treatment of "mortgage-backed securities." The term "mortgage-backed security" will be used herein to refer generically to the various investment instruments which are backed by pools of residential (and, recently, commercial) mortgages. These instruments include, among others, mortgage pass-through certificates, mortgage-backed bonds, and mortgage pay-through certificates.