Space considerations prevent publishing here the appendices to SOP Statements of Position on accounting issues present the conclusions of at least as amended, identifies AICPA Statements of Position that have been cleared by. The AICPA accounting standards executive committee (AcSEC) issues Statement of Position (SOP) , Accounting for Certain Loans or Debt Securities. AICPA Statements of Position (SOPs), available full-text at the links below from the University of .. , Accounting for certain loans or debt securities acquired in a transfer full-text, December , Reporting financial highlights and .

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Please od see the further discussion of this issue in the response to comment Fannie Mae updates the market inputs and loan characteristics that it uses in its internal models monthly, using month-end market data.

AICPA Statements of Position

Fannie Mae has defined an insignificant delay in payment as a delay that causes a payment to be less than three months past due. With a view toward increased transparency, please revise the footnotes in your future annual and interim filings to provide a reconciliation of the changes in loans held for sale to the amounts presented in the statement of cash flows for all periods presented, including how it relates to your non-cash line items if appropriate.

Accounting for real estate acquisition, development, and construction costs full-text. In most cases, if the loan had previously been transferred with recourse, the seller should already have recognized an associated liability for the recourse obligation in accordance with FAS 5, Accounting for Contingencies and FASAccounting for Transfers and Servicing of Financial. Accounting for title insurance companies full-text. We expect that, inour credit loss ratio will increase above our normal historical average range of 4 to 6 basis points.

iacpa Fannie Mae is not able to provide the Staff with draft disclosure relating to compensation at this time because incentive compensation decisions for are only now being finalized.


Settlements of the advances to lenders, other than through repurchase, are not collected in cash, but rather in the receipt of either loans or MBS. We initially classify as HFI loans that have product types that we do not currently securitize from our portfolio, such as reverse mortgages. Investments in Securities, page Questions and answers on the term reasonably objective basis and other issues affecting prospective financial statements, February 10, ; amendment to AICPA Guide for prospective financial statements full-text.

Financial accounting and off by face-amount certificate companies full-text. Consolidated Balance Sheet, page F If so, please revise your future filings to more clearly explain how you apply your nonaccrual policy to these acquired loans.

Rather, Fannie Mae receives the guaranty fee as compensation for providing its guaranty to the MBS trust. Auditor’s reporting on statutory financial statements of insurance enterprises; supersedes Statement of positionReports on audited financial statements of property and liability insurance companies, and amends AICPA audit and accounting guide, Audits of property and liability insurance companies, and AICPA industry audit guide, Audits of stock life insurance companies full-text.

AICPA Statements of Position – Wikipedia

Probability of Collecting Contractual Payments: Fannie Mae does not adjust the initial investment in a loan for an amount of guaranty asset, guaranty obligation or reserve for guaranty losses. Auditor’s reports in audits of state syatement local governmental units; August 11,amendment to AICPA audit and accounting guide Audits of state and local governmental units full-text.

Specifically tell us how each of statment following factors impact your determination: Tell us whether you make any adjustments to the Guarantee Obligation or the Reserve for Guaranty Losses when loans are repurchased from the securitization trusts.

Credit Loss Performance, page Fannie Mae evaluates individual loan purchases from an MBS trust to determine. For each of the periods presented, please revise to separately disclose the amount of loans purchased from a Statrment trust that were purchased at your statememt and the amount that were required to be purchased. Because compensation decisions for are just now being finalized, Fannie Mae is not yet ready to provide the Staff with draft disclosure relating to the engagement of Johnson Associates and Semler Brossy in connection with compensation.

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Please see the response to subparagraph b. To the extent you use market estimates in lieu of your internal estimates to determine the amount of an initial loss poxition acquisition of a loan, but then immediately or soon thereafter return the loan to accrual status based on your internal estimates, please tell us how you determined that was consistent and appropriate.

Auditor’s consideration of the internal control structure used in administering federal financial assistance programs under the Single Audit Act, November 28, ; amendment to AICPA audit and accounting guide, Audits of state and local governmental units, and supersession of SOPexample 26 full-text.

Financial accounting and reporting by hospitals operated by a governmental unit, July 31, ; proposal to the Financial Accounting Standards Board to amend AICPA industry audit guide, Audits of state and local governmental units full-text.

Therefore, loans that are acquired when they are Seriously Delinquent Loans are placed on nonaccrual status. At pposition respective acquisition dates, the loan portfolios of the acquired companies were as follows dollars in millions: Accounting by hospitals for certain marketable equity securities full-text.

Fannie Mae will revise its disclosure in future filings to describe the instructions given to and the engagement of Johnson Associates and Semler Brossy.