Lenders have been having a long tug o' war with the Financial Accounting Standards Board and appear on the verge of total victory.

The industry had been trying for years to get the board to change its Rule 65, which deals with the valuation of mortgage servicing rights. Under that rule, servicing rights that were purchased are carried on the books as an asset, while the value of servicing rights on originated loans did not appear on the books.

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