Accounting Is King

Marshall, Ellen R.
February 2005
Mortgage Banking;Feb2005, Vol. 65 Issue 5, p101
This article discusses the issue of accounting in mortgage industry. For mortgage companies, the treatment of special purpose vehicles is one of the hot buttons over which an audit resignation could easily turn. In conversations about transactions that were previously blessed as successfully moving assets off-balance-sheet, accountants are now citing the revised accounting standards, or changed internal positions, to challenge the same treatment. They are making management very uncomfortable about disagreeing.


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