# ASC 860-10-S99: Transfers and Servicing — Overall — SEC 99 SEC Materials

Source: FASB Accounting Standards Codification, Basic View

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## ASC 860-10-S99: SEC 99 SEC Materials

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#### SEC Staff Guidance

##### [860-10-S99-1](https://asc.understandingaccounting.org/asc/860/10/#860-10-S99-1)

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The following is the text of SEC Observer Comment: Balance Sheet Treatment of a Sale of Mortgage Servicing Rights with a Subservicing Agreement.

-   In accordance with paragraph [860-50-40-7](https://asc.understandingaccounting.org/asc/860/50/#860-50-40-7), a sale of mortgage servicing rights with a subservicing contract could be treated as a sale with the gain deferred if substantially all of the risks and rewards have been transferred to the transferree. In the view of the SEC staff, a transaction that, in substance, transfers only a portion of the servicing revenues does not result in transfer of substantially all of the risks and rewards of ownership and the accounting for those transactions should be guided by the guidance in paragraph [470-10-25-1](https://asc.understandingaccounting.org/asc/470/10/#470-10-25-1).