Data Dictionary
Item Number 5371
EXCESS RESIDENTIAL MORTGAGE SERVICING FEES RECEIVABLECall confidentiality applies to FFIEC 031/041.
| Series | Start Date | End Date | Confidential? | Reporting Forms |
|---|---|---|---|---|
| RCFD5371 | 1991-03-31 | 1996-12-31 | No | FFIEC 031 |
| RCON5371 | 1991-03-31 | 1996-12-31 | No | Multiple Forms |
Data Description:
Includes the unamortized amount of excess servicing fees receivable from transfers of pools of 1-to-4 family residential mortgages that are reported as sales in accordance with the Glossary entry (in the Report of Condition Instruction Booklet) for "participations in pools of residential mortgages."
When pools of 1-to-4 family residential mortgages are sold with servicing retained, excess servicing fees receivable may be recorded (on a present value basis) if the interest rate on the mortgages sold, after deducting a normal servicing fee rate and any applicable guarantee fee, exceeds the rate paid to the purchaser of the pool of mortgages. Recording the present value of excess mortgage servicing fees as an asset results in an increase in the gain or a reduction of the loss on the sale of the underlying pool of 1-to-4 family residential mortgages. (Note: in accordance with the Glossary entry (in the Report of Condition Instruction Booklet) for "sales of assets," excess servicing fees receivable from sales of loans other than pools of 1-to-4 family residential mortgages are not to be reported as an asset. Such fees are to be reported as income over the life of the loans sold.)