JP Morgan Chase fudging the books?
October 12th, 2009
| Tags: books, chase loan modification, place-since, report-the, roughly-what, the-books-, value
Under U.S. accounting rules in place since 1995, banks are supposed to report the value of their mortgage-servicing rights on a fair-market basis, or roughly what they would fetch in a sale. A bank must record a loss whenever it sells MSRs for a price below where they’re marked on the books
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JP Morgan Chase fudging the books?
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