Entities growing their purchase mortgage and MBS portfolios may be affected by a new accounting model for recognizing credit impairment, the second leg of the Financial Accounting Standards Board’s long-term financial instruments project. The Mortgage Bankers Association expects a release date either towards the end of the first quarter of 2016 or in the second quarter, barring unforeseen changes. “I have not seen transition rules exposed yet, but I suspect that there will be ...