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 provide us with and disclose in future filings a description of how you determine fair value for purposes of SFAS compared to how you determine fair value for reporting at the lower of cost or market.

AICPA Statements of Position

Financial accounting and reporting by investment companies, April 15, full-text. At month-end, we reclassify loans acquired during the calendar month, from HFS to HFI, if we have not securitized or are not in the process of securitizing them because we have the intent to hold those loans for the foreseeable future or until maturity.

Based on other disclosure throughout the filing, it was our understanding that you provide guarantees only to trusts in connection with your securitization activities. Accounting for dollar repurchase, dollar reverse repurchase agreements by sellers-borrowers; amendment to AICPA audit and accounting guide, Savings and loan associations full-text.

Probability of Collecting Contractual Payments: Historically, Fannie Mae did not differentiate between the use of these funds and its corporate operating funds. Nonaccrual and impaired loans 1. Reporting practices concerning hospital-related organizations; August 1, Therefore, losses resulting from the application of.

Please do not hesitate to contact the undersigned at Performing agreed-upon procedures engagements that address the completeness, accuracy, or consistency of XBRL-tagged data. This disclosure reflects the factors that Fannie Mae considers in making the determination regarding whether to purchase a nonperforming loan from an MBS trust to hold in its portfolio. Accounting for costs to sell and rent, and initial rental operations of, real estate projects full-text.


Accounting and financial reporting by governmental units; amendment to AICPA Industry audit guide, Audits of state and local governmental units full-text.

In accordance with this policy, the guaranty obligation is reduced in proportion to the guaranty asset as payments are received and this reduction is reported as a component of guaranty fee income. Fannie Mae uses internal cash flow models to project the cash flows used to assess impairment of loans in its impairment evaluation of loans that are on nonaccrual status, including loans accounted for under SOP You also disclose that the majority of the loans you purchase from MBS trusts cure or pay off.

Reports on the internal control structure in audits of brokers and dealers in securities full-text. Performing agreed-upon procedures engagements that address the completeness, mapping, consistency, or structure 0-3 XBRL-formatted information.

Accounting for real estate acquisition, development, and construction costs full-text. Amendment to scope of Statement of positionFinancial reporting by nonpublic investment partnerships, to include commodity pools full-text.

Please revise to disclose if there are any other factors that you consider when you determine whether to purchase a loan from an MBS trust. Financial highlights of separate accounts: Financial accounting and reporting by providers of prepaid health care services full-text. Application of the deposit, oof, and cost recovery methods in accounting for sales of real estate full-text.

Please see the response to subparagraph b. Accounting for advance refundings of tax-exempt debt, June 30, full-text. 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.

AICPA Statements of Position – Wikipedia

Attest engagements on greenhouse gas emissions information full-text. Because losses related to non-Fannie Mae mortgage-related securities that Fannie Mae holds in its mortgage portfolio, but does not guarantee, are not reflected in any of the components of its credit losses, Fannie Mae has revised the calculation of its credit loss ratio to reflect credit losses as a percentage of its guaranty book of business, which excludes these securities.


The SOP includes guidance on the evidence of credit deterioration. Reporting financial highlights and schedule of investments by nonregistered investment partnerships: In future stafement, please revise to reclassify the amount of trust management income reported in interest income in prior periods to conform to the current period starement.

Therefore, Fannie Mae began obtaining indicative market prices during July from large, experienced dealers and stateement an average of these market prices to estimate the initial fair value of delinquent loans purchased from MBS trusts.

As a result of the combination and timing of these events for Fannie Mae, management gained a clearer understanding that SOP fair value losses are not credit losses in the traditional sense that is, realized credit lossesand, therefore, do not reflect the way management historically has viewed credit losses and credit loss performance and the way management continues to view these items.

Prepayments, including those resulting from the purchase of loans from the MBS trusts, may cause an sattement of the guaranty asset, which also results in a proportionate reduction in the corresponding guaranty obligation and recognition of income.

The difference between that price and the amount Fannie Mae actually charges under its guaranty contracts represents the loss at inception of certain guaranty contracts.

Note 3, Mortgage Loans, page F The guaranty obligation is reduced over time, in accordance with paragraph 12 of FIN Environmental remediation liabilities, including auditing poxition full-text. Fannie Mae may not assert Staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States. Fannie Mae complies with this statement by adjusting both contractual cash flows and cash flows expected to be collected to take into account the estimated timing and amount of prepayments.