Loremaster and Faction Swaps

So, several of the Loremaster requirements are not the same across Horde and Alliance. For example, Loremaster of the Eastern Kingdoms requires 700 Quests for Ally, and 500 (or so) for Horde.

It's impossible to get either of these requirements without doing Faction-Specific Quests, which by default are locked and do not translate to the other faction.

My question is this: If I get the 700 Quests on Ally, then switch, but would only have, say, 300 of the 500 required for Horde, does the game still count me having this achievement for Achievement Points, as well as for the Overall Loremaster Achievement?