New tax provisions allowing home-equity lines of credit and reverse mortgages into REMIC structures will become effective on Jan. 1, 2005. Under the newly enacted American Jobs Creation Act of 2004, REMICs with underlying pools of HELOCs, reverse mortgages or government-originated loans would get the same tax treatment that other structured mortgage-backed securities enjoy. As such, beginning Jan. 1, loans with terms that provide for periodic draws, and meet certain other criteria, would be…