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FASB to Consider 'Fair Value' for Servicing Rights.
The Financial Accounting Standards Board has decided to consider the pros and cons of applying fair-value accounting to mortgage servicing rights.
The board members agreed to start the mortgage servicing rights project at the request of three major accounting firms and several large mortgage lenders.
The Mortgage Bankers Association is "pleased" with the FASB's decision, Alison Utermohlen said.
The trade group's accounting expert noted that industry is divided on the issue of imposing mandatory fair-value accounting. However, there would be a consensus if companies could elect to use fair-value accounting.
One board member commented at FASB's Jan. 15 meeting that it might be possible to give servicers a choice.
An MBA task held its first meeting on Feb.9 to start the process of developing a position on fair-value accounting. MBA wants to present its position to FASB in March.
Many large servicers would like to ditch the complex and burdensome FAS 140 requirements for attaining hedge accounting. Under a fair-value approach, servicers could simply mark-to-market their MSRs and mark-to-market their derivative hedges.
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...originated mortgage servicing rights. However, in...originated mortgage servicing rights because the regulator...Standards Board (FASB), decided that...Reporting Mortgage Servicing Rights at Fair Value...letter to the FASB, favored "recommending...
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- Accounting for mortgage servicing rights.
- Magazine article from: The National Public Accountant Reynolds, Brian M. September 1, 1995 700+ words
...Securities. The Board (FASB) was asked in November 1992...accounting treatment of mortgage servicing rights. The MBAA wanted the FASB to eliminate the accounting distinction between mortgage servicing rights chat are acquired through...
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- Magazine article from: The National Public Accountant Ratcliffe, Thomas A. Stewart, Robert E. May 1, 1996 700+ words
...Accounting Standards Board (FASB) issued Statement of Financial...Accounting for Mortgage Servicing Rights." SFAS No. 122 amends...attributable to mortgage servicing rights associated with loan origination...capitalization of mortgage servicing rights related to transactions...
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- Magazine article from: Mortgage Banking Cochran, Robert J. Coffman, Edward N. Harless, David W. February 1, 2005 700+ words
WHY STUDY MORTGAGE SERVICING RIGHTS (MSR) VALUATION CHARACTERISTICS...Accounting Standards Board (FASB) to revisit the accounting treatment of mortgage servicing rights. One of the primary concerns of the FASB as it reconsidered SFAS No...