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Legal Update

Tax Guidance Issued on Modifications of Securitized Mortgage Loans

2 June 2008
Mayer Brown Legal Update
On May 16 2008, the Internal Revenue Service (the "Service") issued Revenue Procedure 2008-28 (the "Revenue Procedure") describing the conditions under which certain securitized mortgage loans held by REMICs or fixed investment trust may be modified without adverse US tax consequences.
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