CMIC [Internet]; Aug 9, 2016 [cited 2016 Aug 9]. Available from: http://www.allacronyms.com/CMIC. 'CMIC', All Acronyms, 9 August 2016, <http://www.allacronyms.com/CMIC> [accessed 9 August 2016] All Acronyms, CMIC (Aug. 9, 2016, 2:08 AM), available at http://www.allacronyms.com/CMIC.
Defeasance is a substitution of collateral. The borrower uses proceeds from a refinance or sale to purchase a portfolio of securities that is sufficient to make the remaining debt service payments required by the loan. The securities are pledged to the lender who releases the real estate from the lien of the mortgage.
Whenever you see the prefix mal-, you know it's not good. Malfeasance is bad behavior, especially from officials or people who should know better. If nothing else, the mal- in malfeasance will alert you to the fact that something bad is going on. If you know French, fease-, faise- will ring a bell, as it often means to do..