# ASC 340-948-30: Other Assets and Deferred Costs — Financial Services—Mortgage Banking — 30 Initial Measurement

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/340/948/#30-initial-measurement)

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## ASC 340-948-30: 30 Initial Measurement

[Read section](https://asc.understandingaccounting.org/asc/340/948/#30-initial-measurement)

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#### Costs of Issuing Certain GNMA Securities

##### [340-948-30-1](https://asc.understandingaccounting.org/asc/340/948/#340-948-30-1)

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The aggregate amount capitalized, including amounts capitalized under other provisions of this Subtopic, shall not exceed the present value of net future servicing income. The rate used to determine the present value shall be an appropriate long-term interest rate. For this purpose, estimates of future servicing revenue shall include expected late charges and other ancillary revenue. Estimates of expected future servicing costs shall include direct costs associated with performing the servicing function and appropriate allocations of other costs. Estimated future servicing costs may be determined on an incremental cost basis.