noncompliance and going concern doubt

Industry1

1. 948-10Overall948 Financial Services—Mortgage Banking

   ASC 948-10 is the Overall subtopic for mortgage banking, providing background on the two core mortgage banking activities—originating/purchasing loans for sale to permanent investors and subsequently servicing those loans—and defining the Topic's scope. Its only substantive requirements are disclosures about minimum net worth (capital) requirements imposed by secondary market investors and state regulators, including whether the entity complies and the effects of noncompliance. The Topic supplies only incremental industry guidance; entities must also apply all other applicable GAAP.