A showdown is set in Congress over whether to include the cost of acquiring purchased mortgage servicing rights in legislation that would set a 14-year amortization period for intangibles.

The House Ways and Means Committee last week retained coverage of PMSRs in its version of the intangibles legislation, while the Senate Finance Committee the week before had excluded them. A comprehensive tax bill (H.R. 11) is scheduled to be debated by the House this week.

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