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Accounting for Nonrefundable Fees and Costs Associated with Originating Mortgages
Ronnie J. ClaytonFrank J. Navratil
其他書名
The Effects of FASB 91
出版Federal Home Loan Bank Board, Office of Policy and Economic Research, 1987
URLhttp://books.google.com.hk/books?id=N94KcMmvMFYC&hl=&source=gbs_api
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註釋This paper discusses several conceptual and empirical issues regarding alternative methods of accounting for discount points on mortgages. Methods widely used by lenders prior to 1988 tend to bring deferred fee income into earnings more rapidly than FASB believes is economically justified. While FASB concedes that prepayments on mortgages do reduce the amount of time that loan fees should be deferred, their suggested remedy is quite cumbersome to apply. For this reason, two alternative accounting techniques are presented and discussed in detail. The cash flows of institutions are not directly affected by the method use to account for deferred loan fees. Although simulations show that various accounting methods do yield significantly different results, the method chosen will neither save nor destroy that thrift industry. S&Ls' economic performance will continue to be driven by their ability to handle the basic maturity mismatch between their assets and liabilities.