IBNK » Topics » MORTGAGE BANKING DERIVATIVES

These excerpts taken from the IBNK 10-K filed Mar 13, 2008.
MORTGAGE BANKING DERIVATIVES
 
Commitments to fund mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of these mortgage loans are accounted for as derivatives not qualifying for hedge accounting. Fair values of these mortgage derivatives are estimated based on changes in mortgage interest rates from the date of the commitments. Changes in the fair values of these derivatives are included in net gains on sales of loans.
 
MORTGAGE
BANKING DERIVATIVES



 



Commitments to fund mortgage loans (interest rate locks) to be
sold into the secondary market and forward commitments for the
future delivery of these mortgage loans are accounted for as
derivatives not qualifying for hedge accounting. Fair values of
these mortgage derivatives are estimated based on changes in
mortgage interest rates from the date of the commitments.
Changes in the fair values of these derivatives are included in
net gains on sales of loans.


 




EXCERPTS ON THIS PAGE:

10-K (2 sections)
Mar 13, 2008
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki