Interagency Guidance Loans Held For Sale

Interagency guidance on certain loans held for sale march 26 2001 purpose background and scope. The securities and exchange commission said in the attached letter to the agencies that it had reviewed the interagency guidance and determined that the guidance will assist in promoting consistent accounting and reporting treatment for the loan sales and transfers of loans to held for sale accounts that are within the scope of the agencies. Report loans held for sale at the lower of cost or fair value7 fair value adjustments reporting at transfer date at the time of a loans transfer to the hfs account any reduction in the loans value should be.

Furthermore such loans should be reported as past due or nonaccrual when appropriate.

Interagency guidance loans held for sale. The securities and exchange commission said in the attached letter to the agencies that it had reviewed the interagency guidance and determined that the guidance will assist in promoting consistent accounting and reporting treatment for the loan sales and transfers of loans to held for sale accounts that are within the scope of the agencies. Other loans that are originated with. The guidance attached to this bulletin continues to apply to federal savings associations. Loans held for sale are reported along with the loan portfolio by category on thstatemene t of financial conditio ann d on applicable supplementary schedulescheduls e a real estate loanslines of credit.

The alll does not apply however to loans carried at fair value loans held for sale footnote 5 refer to the interagency guidance on certain loans held for sale march 26 2001 for the appropriate accounting and reporting treatment for certain loans that are sold directly from the loan portfolio or transferred to a held for sale. Interagency guidance on certain loans held for sale. 1 mortgage loans held for sale that are subject to financial accounting standard fas 65 accounting for certain mortgage banking activities should be accounted for at the lower of cost or fair value in accordance with that standard. Interagency guidance on certain loans held for sale march 26 2001 purpose background and scope.

The federal deposit insurance corporation fdic and the other federal financial institution regulatory agencies have jointly issued the attached interagency guidance on certain loans held for salethe guidance addresses the appropriate accounting and reporting treatment for certain loans that are sold directly from the loan portfolio or transferred to a held for sale account. The office of the comptroller of the currency occ the federal deposit insurance corporation the federal reserve board the office of thrift supervision and the national credit union administration the agencies have jointly issued the attached interagency guidance on certain loans held for sale. Declines in value occurring. 5 refer to the interagency guidance on certain loans held for sale march 26 2001 for the appropriate accounting and reporting treatment for certain loans that are sold directly from the loan portfolio or transferred to a held for sale account.

Loans held for sale are reported at the lower of cost or fair value. Such loans should be reported in regulatory reports along with other loans held for sale as set forth in footnote 7 of the attached interagency guidance. Loans that are originated with the intent to sell should be reported at the lower of cost or fair value.