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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AICPA Statements of Position – Wikipedia

Performing agreed-upon procedures engagements that address the completeness, aicp, or consistency of XBRL-tagged data. If you have any questions regarding the response above, please contact me at You also disclose in your K that you purchase these loans when the cost of advancing interest to the MBS trust at the security coupon rate exceeds the cost of holding the nonperforming loans in your mortgage portfolio. For each homogenous pool, Syatement Mae determines the reserve for guaranty losses on an aggregated basis in accordance with SFAS 5.

This page was last edited on 29 Julyat The full-text in the list below links to reproductions of SOPs as originally issued.

Accounting for asserted and unasserted medical malpractice claims of health care providers and related issues full-text. Accounting for real estate syndication income full-text.

Reporting on management’s assessment pursuant to the life insurance ethical market conduct program of the Insurance Marketplace Standards Association full-text. Reporting financial highlights and schedule of investments by nonregistered investment partnerships: Historically, Fannie Mae did not differentiate between the use of these funds and its corporate operating funds.


Fannie Mae confirms that loans that have been purchased by Fannie Mae from an MBS trust in its capacity as guarantor are individually evaluated in accordance with paragraph.

Since Fannie Mae did not change its accounting policy for loans modified in a troubled debt restructuring duringit plans to include the same disclosure in its Form K.

Accounting for costs of activities of not-for-profit organizations and state and local governmental entities that include fund raising; amendment to AICPA audit and accounting guides Health care organizations, Not-for-profit organizations, and Audits of state and local governmental units full-text. Please revise your future filings to quantify the amount of repurchases for the periods presented and to disclose how these repurchases affect your guarantee accounting and your estimate of your allowance for loan losses.

Cedars was a privately-owned bank and both Foothill and Community were public companies. 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.

AICPA Statements of Position

If so, please revise your future filings to more clearly explain how you apply your nonaccrual policy to these acquired loans. Auditor’s consideration of regulatory risk-based capital for life insurance enterprises full-text.

You also disclose that you are required by your MBS trust agreement to purchase loans from an MBS trust when specified predetermined triggers are met. The aggregate amount of single-family guaranty fees we receive in any period depends on the amount of Fannie Mae MBS outstanding during that period and the applicable guaranty fee rates.

Please see the response to subparagraph b. Financial accounting and reporting by investment companies, April 15, full-text. Accounting for certain insurance activities of mutual life insurance enterprises full-text. Accounting practices for certain Employee Stock Ownership Plans full-text.


For loans accounted for in accordance with SOPplease revise your future filings to describe how prepayments are considered in the determination of contractual cash flows and cash flows expected to be collected.

Attest engagements on greenhouse gas emissions information full-text. Accounting for joint costs of informational materials and activities of not-for-profit organizations that include a fund-raising appeal full-text.

Financial highlights of separate accounts: Except for purchases triggered by initial representations and warranty deficiencies, it is qicpa that the repurchased loan would meet the criteria to be included in the scope of the SOP.

Because these prices reflected significant market declines in value due to the disruption in the mortgage markets, Fannie Mae experienced a substantial increase in the SOP fair value losses recorded upon the purchase of delinquent loans from MBS trusts. Reporting the effects of general price-level changes in financial statements full-text.

Reporting pursuant wtatement the Association for Investment Management and Research performance presentation standards full-text. Specifically discuss the extent to which a loss at the inception of a guaranty contract reflects the likelihood of credit losses on that contract.

Fannie Mae will revise its disclosure in future filings to describe the instructions given to and the engagement of Johnson Associates and Semler Brossy. Please be advised that Fannie Mae has authorized me to provide its acknowledgement that:. Foreign currency accounting and financial statement presentation for investment companies, April 22, ; amendment to AICPA Audit and accounting guide, Audits of investment companies full-text.

Revenue recognition when right of return exists.