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Mortgage Lending > Mortgage Brokers > Revenue Recognition is looking for an industry professional to moderator this forum.

Post Subject:    Revenue Recognition
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Click here to reply to this postReply Click here to monitor this post on Monitor | Report Abuse Assume: Accrual Basis Income Tax Return. Mortgage Lender funds loan and sells it by assignment to a broker. The Broker purchase agreement Lender agrees to return fees for first 6 months if a loan is paid off early. Lender also has contractual obligations if the borrower defaults on loan or if there are documentation errors. How should I account for the inflows at the time of assignment to the broker (both accounting and tax wise)?

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