Answer:
by John Burnett:
Check the financial accounting rules ASC 860 and FAS 166. I am not an accountant but FAS 166 goes back to 2010 so be aware of the loan date you may be reviewing or know that it applies to new loans today. As I understand it, when the payments are not divided proportionately to the participants and go to one participant first, it does not qualify as a "participation loan" based on the definitional requirements.
Answer:
by Randy Carey:
FASB Statement No. 166, Accounting for Transfers of Financial Assets (“FAS 166”)
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