A securitization tool to pool various types of contractual debt obligations and spread the risk to investors. Similar to a Real Estate Mortgage Investment Conduit (REMIC), a financial asset securitization investment trust has the advantage of working with a funding pool that is not frozen. Rules for such trusts were approved by Congress in 1996 but were repealed in 2004 because of the ENRON scandal. However, the rules still apply for trusts that existed before October 22nd, 2004.
Related information about financial asset securitization investment trust (FASIT):
- Financial Asset Securitization Investment Trust (FASIT) - Investopedia
A financing tool that allows for the securitization of non-mortgage assets and usually involves debt obligations with short maturities such as credit card ...
- Financial asset securitization investment trust - Wikipedia, the free ...
A financial asset securitization investment trust (FASIT) was a type of special purpose entity used for securitization of any debt and issuance of asset-backed ...
- What is financial asset securitization investment trust (FASIT ...
Definition of financial asset securitization investment trust (FASIT): A securitization tool to pool various types of contractual debt obligations and spread the risk to ...
- FASIT - Financial Asset Securitization Investment Trust
For federal income tax purposes, an election will be made to treat a portion of the trust fund as a financial asset securitization investment trust (FASIT).
- Financial asset securitization investment trust: Definition from ...
Financial Asset Securitization Investment Trust - FASIT A financing tool that allows for the securitization of non-mortgage assets and usually involves.
- Internal Revenue Bulletin - July 2, 2012 - Announcement 2012-27
Jul 2, 2012... which was effective September 1, 1997, authorized a securitization vehicle called a Financial Asset Securitization Investment Trust (FASIT).
- FASIT - Acronyms and Abbreviations - The Free Dictionary
... Mortgage Investment Conduit (REMIC) for $550 million in 1996, a Financial Asset Securitization Investment Trust (FASIT) for $440 million in 1997 and another ...
- REMICs, FASITs - IRS Tax Map
A financial asset securitization investment trust (FASIT) is an entity that securitizes debt obligations such as credit card receivables, home equity loans, and ...