26 CFR § 301.7701(i)-0

26 CFR · Internal Revenue

§ 301.7701(i)-0 — Outline of taxable mortgage pool provisions.

TitleTitle 26: Internal Revenue PartPart 301: Procedure and Administration

SourceeCFR (current through Mar 20, 2026)

This text of 26 C.F.R. § 301.7701(i)-0 (Outline of taxable mortgage pool provisions.) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

26 C.F.R. § 301.7701(i)-0 (2026).

Text

§ 301.7701(i)-0 Outline of taxable mortgage pool provisions. This section lists the major paragraphs contained in §§ 301.7701(i)-1 through 301.7701(i)-4. § 301.7701(i)-1 Definition of a taxable mortgage pool.

(a)Purpose.

(b)In general.

(c)Asset composition tests.

(1)Determination of amount of assets.

(2)Substantially all.

(i)In general.

(ii)Safe harbor.

(3)Equity interests in pass-through arrangements.

(4)Treatment of certain credit enhancement contracts.

(i)In general.

(ii)Credit enhancement contract defined.

(5)Certain assets not treated as debt obligations.

(i)In general.

(ii)Safe harbor.

(A)In general.

(B)Payments with respect to a mortgage defined.

(C)Entity treated as not anticipating payments.

(d)Real estate mortgages or interests therein defined

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§ 301.7701(i)-0 Outline of taxable mortgage pool provisions.

This section lists the major paragraphs contained in §§ 301.7701(i)-1 through 301.7701(i)-4.

§ 301.7701(i)-1 Definition of a taxable mortgage pool.
(a) Purpose.

(b) In general.

(c) Asset composition tests.

(1) Determination of amount of assets.

(2) Substantially all.

(i) In general.

(ii) Safe harbor.

(3) Equity interests in pass-through arrangements.

(4) Treatment of certain credit enhancement contracts.

(i) In general.

(ii) Credit enhancement contract defined.

(5) Certain assets not treated as debt obligations.

(i) In general.

(ii) Safe harbor.

(A) In general.

(B) Payments with respect to a mortgage defined.

(C) Entity treated as not anticipating payments.

(d) Real estate mortgages or interests therein defined.

(1) In general.

(2) Interests in real property and real property defined.

(i) In general.

(ii) Manufactured housing.

(3) Principally secured by an interest in real property.

(i) Tests for determining whether an obligation is principally secured.

(A) The 80 percent test.

(B) Alternative test.

(ii) Obligations secured by real estate mortgages (or interests therein), or by combinations of real estate mortgages (or interests therein) and other assets.

(A) In general.

(B) Example.

(e) Two or more maturities.

(1) In general.

(2) Obligations that are allocated credit risk unequally.

(3) Examples.

(f) Relationship test.

(1) In general.

(2) Payments on asset obligations defined.

(3) Safe harbor for entities formed to liquidate assets.

(g) Anti-avoidance rules.

(1) In general.

(2) Certain investment trusts.

(3) Examples.
§ 301.7701(i)-2 Special rules for portions of entities.
(a) Portion defined.

(b) Certain assets and rights to assets disregarded.

(1) Credit enhancement assets.

(2) Assets unlikely to service obligations.

(3) Recourse.

(c) Portion as obligor.

(1) In general.

(2) Example.
§ 301.7701(i)-3 Effective dates and duration of taxable mortgage pool classification.
(a) Effective dates.

(b) Entities in existence on December 31, 1991.

(1) In general.

(2) Special rule for certain transfers.

(3) Related debt obligation.

(4) Example.

(c) Duration of taxable mortgage pool classification.

(1) Commencement and duration.

(2) Testing day defined.
§ 301.7701(i)-4 Special rules for certain entities.
(a) States and municipalities.

(1) In general.

(2) Governmental purpose.

(3) Determinations by the Commissioner.

(b) REITs. [Reserved]

(c) Subchapter S corporations.

(1) In general.

(2) Portion of an S corporation treated as a separate corporation.