FDIC: FIL-39-2005: Interagency Advisory on Accounting and Reporting for Commitments to Originate and Sell Mortgage Loans


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	Financial Institution Letters Office of the Comptroller of the Currency Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation National Credit Union Administration Office of Thrift Supervision Interagency Advisory on Accounting and Reporting for Commitments to Originate and Sell Mortgage Loans Table of Contents Executive Summary Background Definitions Derivative Loan Commitment Forward Loan Sales Commitment Mandatory Delivery Contract Best Efforts Contract Master Agreement Accounting and Reporting Accounting Policies Derivative Loan Commitments Forward Loan Sales Commitments Netting of Contracts Hedge Accounting Income Statement Effect Valuation Fair Value SAB 105 Standard-Setter Activities Changes in Accounting for Derivative Loan Commitments and Loan Sales Agreements Summary Example Background Discussion of ABC’s Approach to Valuing Derivative Loan Commitments and Forward Loan Sales Commitments Regulatory Reporting Addendum to Example
	Last Updated 05/03/2005	communications@fdic.gov