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The company did process 6 million RACs through its own bank, Block Bank This section provides basic information on the RAL activity of key industry players, an overview that we provide annually in our RAL reports. We discuss certain other topics affecting these players, such as regulatory measures, law enforcement actions, and other events, in other parts of this report.

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Mortgage banks generate revenue through interest income, the sale of loans and loan servicing income Understanding gain on sale accounting Securitizations in the mortgage industry are collateralized with home or commercial mortgage loans and are packaged into mortgage-backed securities (MBS) that are sold to institutional investors seeking to realize higher returns on investment-grade debt instruments compared with other securities of similar credit quality. Loan sales are usually structured as whole loan sales, loans securitized and accounted for as a sale, and loans securitized and accounted for as financing. Securitized Profits A gain on sale of loans can be either a cash gain or a non-cash gain. When the sale is accounted for as financing, no gain is recognized. When loans are securiti...

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If the money is further distributed to other local governments, such distributions should be coded 337 by these receiving governments Charts of Accounts Budgeting Accounting Reporting Table of Contents Alerts & Changes New code – Use for any proceeds received for the sale of capital assets. Examples: real estate (land and buildings), equipment, street vacations, timber sales (timber owned by the municipality).

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