|Post Subject: Revenue Recognition|
|Reply 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)?
Posted: 03/01/2016 03:45:38
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