qualified replacement mortgage
Defined in 1 place of the United States Code.
The term “qualified replacement mortgage” means any obligation—
(A) which would be a qualified mortgage if transferred on the startup day in exchange for regular or residual interests in the REMIC, and
(B) which is received for—
(i) another obligation within the 3-month period beginning on the startup day, or
(ii) a defective obligation within the 2-year period beginning on the startup day.
Source
- 1994–present26 U.S.C. § 860GInternal Revenue Code · Other definitions and special rules · for purposes of this part