# ASC 948-10-50: Financial Services—Mortgage Banking — Overall — 50 Disclosure Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/948/10/#50-disclosure) 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. Tables and mathematical or amendment markup are retained as HTML where Markdown would lose structure. Source downloaded (UTC): 2026-09-10T02:20:19.843Z to 2026-09-10T02:20:19.843Z Record version: sha256:0cc56b5f14f84696cd8df7dfb0938b1261151a12c1a13a5872aada9f6382d1ad Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 948-10-50: 50 Disclosure [Read section](https://asc.understandingaccounting.org/asc/948/10/#50-disclosure) SEC content: no ##### [948-10-50-1](https://asc.understandingaccounting.org/asc/948/10/#948-10-50-1) Pending content: no Source downloaded (UTC): 2026-09-10T02:20:19.843Z to 2026-09-10T02:20:19.843Z Record version: sha256:b92ae9b35373c59d8ba1d01dc32f5386401d72acc3983cd1e3f16f3499d60e44 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. This Section provides capital requirements disclosure guidance for [mortgage banking entities](https://asc.understandingaccounting.org/glossary/m/#mortgage-banking-entity "An entity that is engaged primarily in originating, marketing, and servicing real estate mortgage loans for other than its own account. Mortgage banking entities, as local representatives of institutional lenders, act as correspondents between lenders and borrowers.") and entities with mortgage banking activities. ##### [948-10-50-2](https://asc.understandingaccounting.org/asc/948/10/#948-10-50-2) Pending content: no Source downloaded (UTC): 2026-09-10T02:20:19.843Z to 2026-09-10T02:20:19.843Z Record version: sha256:f08460715c3ff162c21f1fc920c7b29213d794959d139418fb6acc9e355728eb Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. All of the following are capital disclosure requirements for mortgage entities and other activities within the scope of this Subtopic. ##### [948-10-50-3](https://asc.understandingaccounting.org/asc/948/10/#948-10-50-3) Pending content: no Source downloaded (UTC): 2026-09-10T02:20:19.843Z to 2026-09-10T02:20:19.843Z Record version: sha256:18b49757f604904dd1dbd0ddebe8a6e48e636fe6e7e2d5e3f474118f6a654b0d Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Noncompliance with minimum net worth (capital) requirements imposed by secondary market investors or state-imposed regulatory mandates could materially affect the economic resources of a mortgage banking entity and claims to those resources. To the extent an entity is subject to such requirements, the entity shall disclose all of the following in the notes to financial statements: 1. a A description of the minimum net worth requirements related to secondary market investors and state-imposed regulatory mandates 2. b The actual or possible material effects of noncompliance with those requirements 3. c Whether the entity is in compliance with the regulatory capital requirements, including, as of each balance sheet date presented, both of the following with respect to quantitative measures: 1. 1 The entity's required and actual net worth amounts 2. 2 Factors that may significantly affect the adequacy of net worth such as potentially volatile components of capital, qualitative factors, or regulatory mandates. 4. d If, as of the most recent balance sheet date, the entity is not in compliance with capital adequacy requirements, the possible material effects of such conditions on amounts and disclosures in the notes to financial statements. ##### [948-10-50-4](https://asc.understandingaccounting.org/asc/948/10/#948-10-50-4) Pending content: no Source downloaded (UTC): 2026-09-10T02:20:19.843Z to 2026-09-10T02:20:19.843Z Record version: sha256:e2f24277f47dcb17ec4c82b09bd11df72169647291ec5d6a0c1ac72ea04a2b75 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Further, noncompliance with minimum net worth requirements may, when considered with other factors, raise substantial doubt about an entity's ability to continue as a going concern for a reasonable period of time. Additional information that might be disclosed in these situations may include the following: 1. a Pertinent conditions and events giving rise to the assessment of substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time 2. b Possible effects of such conditions and events 3. c Management's evaluation of the significance of those conditions and events and any mitigating factors 4. d Possible discontinuance of operations 5. e Management's plans (including any relevant financial information) 6. f Information about the recoverability or classification of recorded asset amounts or the amounts or classifications of liabilities. ##### [948-10-50-5](https://asc.understandingaccounting.org/asc/948/10/#948-10-50-5) Pending content: no Source downloaded (UTC): 2026-09-10T02:20:19.843Z to 2026-09-10T02:20:19.843Z Record version: sha256:c7e643a5e303f0892901dc7ec607cb01fe5f8722c4f6cba56ce02db33cc92cfb Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Servicers with net worth requirements from multiple sources shall disclose, in the notes to financial statements, the net worth requirement of the following: 1. a Significant servicing covenants with secondary market investors with commonly defined servicing requirements (Common secondary market investors include the U.S. Department of Housing and Urban Development, [Federal National Mortgage Association](https://asc.understandingaccounting.org/glossary/f/#federal-national-mortgage-association "Often referred to as Fannie Mae, FNMA is an investor-owned corporation established by Congress to support the secondary mortgage loan market by purchasing mortgage loans when other investor funds are limited and selling mortgage loans when other investor funds are available.") \[FNMA\], [Government National Mortgage Association](https://asc.understandingaccounting.org/glossary/g/#government-national-mortgage-association "Often referred to as Ginnie Mae, GNMA is a U.S. governmental agency that guarantees certain types of mortgage-backed securities and provides funds for and administers certain types of low-income housing assistance programs.") \[GNMA\], and [Federal Home Loan Mortgage Corporation](https://asc.understandingaccounting.org/glossary/f/#federal-home-loan-mortgage-corporation "Often referred to as Freddie Mac, FHLMC is a private corporation authorized by Congress to assist in the development and maintenance of a secondary market in conventional residential mortgages. FHLMC purchases mortgage loans and sells mortgages principally through mortgage participation certificates representing an undivided interest in a group of conventional mortgages. FHLMC guarantees the timely payment of interest and the collection of principal on the participation certificates.") \[FHLMC\].) 2. b Any other secondary market investor where violation of the requirement would have a significant adverse effect on the business 3. c The most restrictive third-party agreement if not included above.