FASB Reviews MSR Accounting

Hutto, Gary W.
April 2005
Mortgage Banking;Apr2005, Vol. 65 Issue 7, p94
This article reports that the Financial Accounting Standards Board (FASB) is again making changes to the accounting for mortgage servicing rights (MSR). In 1995 mortgage bankers changed their accounting for originated mortgage servicing rights because the regulator of accounting principles in the United States, the FASB, decided that putting all MSR on the books would result in a better presentation of the assets and net worth of mortgage banker. The rule change also required mortgage bankers to evaluate their servicing portfolios periodically for impairment. INSET: Europeans Don't Like the Taste of a Derivative Fricassee, Either.


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