# ASC 860-50-15: Transfers and Servicing — Servicing Assets and Liabilities — 15 Scope and Scope Exceptions

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/860/50/#15-scope-and-scope-exceptions)

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## ASC 860-50-15: 15 Scope and Scope Exceptions

[Read section](https://asc.understandingaccounting.org/asc/860/50/#15-scope-and-scope-exceptions)

SEC content: no

#### Overall Guidance

##### [860-50-15-1](https://asc.understandingaccounting.org/asc/860/50/#860-50-15-1)

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This Subtopic has its own discrete scope, which is separate and distinct from the pervasive scope for this Topic as outlined in Section 860-10-15.

#### Entities

##### [860-50-15-2](https://asc.understandingaccounting.org/asc/860/50/#860-50-15-2)

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The guidance in this Subtopic applies to all entities.

#### Transactions

##### [860-50-15-3](https://asc.understandingaccounting.org/asc/860/50/#860-50-15-3)

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The guidance in this Subtopic applies to transactions in which [servicing assets](https://asc.understandingaccounting.org/glossary/s/#servicing-assets "A contract to service financial assets under which the benefits of servicing are expected to more than adequately compensate the servicer for performing the servicing. A servicing contract is either: Undertaken in conjunction with selling or securitizing the financial assets being serviced Purchased or assumed separately.") are obtained and [servicing liabilities](https://asc.understandingaccounting.org/glossary/s/#servicing-liabilities "A contract to service financial assets under which the estimated future revenues from contractually specified servicing fees, late charges, and other ancillary revenues (benefits of servicing) are not expected to adequately compensate the servicer for performing the servicing.") are incurred, including transactions in which loans are transferred with servicing retained by the [transferor](https://asc.understandingaccounting.org/glossary/t/#transferor "An entity that transfers a financial asset, an interest in a financial asset, or a group of financial assets that it controls to another entity."). The guidance in this Subtopic also applies to transactions in which servicing assets are transferred with loans retained by the transferor.