The Financial Accounting Standards Board has approved new guidance outlining the accounting statements that originators should use for reporting on their alternative mortgage products in public filings. The proposed new guidance, SOP 94-6-a, which was discussed at FASB’s board meeting this week, does not create any new accounting requirements for nontraditional mortgage products. Instead, it outlines a number of existing pronouncements on reporting with “significant exposures” to exotic products that lenders need to abide