{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/720/948/#25-recognition","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"720","topic_title":"Other Expenses","subtopic":"720-948","subtopic_title":"Financial Services—Mortgage Banking","section":{"number":"25","label":"25 Recognition","anchor":"25-recognition","is_sec":false,"groups":[{"block":null,"heading":"Residential or Commercial Loan Commitment Fees","paragraphs":[{"citation":"720-948-25-1","para":"25-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_184E8DC2-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Fees paid to <a href=\"/glossary/p/#permanent-investor\" class=\"term\" title=\"An entity that invests in mortgage loans for its own account, for example, an insurance entity, commercial or mutual savings bank, savings and loan association, pension plan, real estate investment trust, or Federal National Mortgage Association (FNMA).\"><span>permanent investors</span></a> to ensure the ultimate sale of the loans (residential or commercial loan commitment fees) shall be recognized as expense when the loans are sold to permanent investors or when it becomes evident the commitment will not be used. Because residential loan commitment fees ordinarily relate to blocks of loans, fees recognized as revenue or expense as the result of individual loan transactions shall be based on the ratio of the individual loan amount to the total commitment amount. </span></span></div></div>","snippet":"Fees paid to permanent investors to ensure the ultimate sale of the loans (residential or commercial loan commitment fees) shall be recognized as expense when the loans are sold to permanent investors or when it becomes …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3bbc93db509f76d443768a8c4175bbac72d049a9cdb4ed2704453c02cedc9284","downloaded_from":"2026-09-10T01:12:06.328Z","last_downloaded_at":"2026-09-10T01:12:06.328Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478074","source_sha256":"afda7b81d245e15c529b4c914b897a94d73e1ba7351e22a491dcb2b9d3a3c8b9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bdc88c47d032404dd5a9e05af9685861536c8fe353b3077f6123915f62fc018e","downloaded_from":"2026-09-10T01:12:06.328Z","last_downloaded_at":"2026-09-10T01:12:06.328Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478074","source_sha256":"afda7b81d245e15c529b4c914b897a94d73e1ba7351e22a491dcb2b9d3a3c8b9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:799ff54cb396c37a87459be3cb6fa665ffb16836a68ed8e96cd0ce3342f09a36","downloaded_from":"2026-09-10T01:12:06.328Z","last_downloaded_at":"2026-09-10T01:12:06.328Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478074","source_sha256":"afda7b81d245e15c529b4c914b897a94d73e1ba7351e22a491dcb2b9d3a3c8b9"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:799ff54cb396c37a87459be3cb6fa665ffb16836a68ed8e96cd0ce3342f09a36","downloaded_from":"2026-09-10T01:12:06.328Z","last_downloaded_at":"2026-09-10T01:12:06.328Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478074","source_sha256":"afda7b81d245e15c529b4c914b897a94d73e1ba7351e22a491dcb2b9d3a3c8b9"}}