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To: tom pope who wrote (80012)7/9/2009 1:43:27 PM
From: Keith FeralRespond to of 118717
 
Thanks for the clarification on the carry value of the mortgages. I didn't think they booked the value of the mortgages up front. Can you imagine the bonuses those guys would have been paying themselves if that were the case?



To: tom pope who wrote (80012)7/9/2009 2:27:20 PM
From: Paul KernRead Replies (1) | Respond to of 118717
 
Straight mortgages are carried at original loan value, with interest income recognized as it accrues, are they not?

They got an accounting exception years ago to book all the interest as profit immediately.


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