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Nonmortgage and mortgage loans held for sale are carried at the lower of cost or fair value. In accordance with ASC 948-310-35-2, purchase discounts on mortgage loans should not be amortized as interest income during the period the loan or security is classified as held for sale.
Refer to LI 4.3.3 for guidance on how to transfer a loan into or out of the held for sale classification.

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