Examples of MSR Loans in a sentence
Taxpayer has provided no evidence that the MSR Loans were worthless at any time during Year 3, and, likewise, Taxpayer has provided no evidence that rights to interest coupons stripped from the MSR Loans were worthless during Year 3.
Rather, any debt component of the MSR (i.e., the excess servicing payments) would constitute stripped coupons from the MSR Loans, and any worthlessness regarding stripped coupons from the MSR Loans would depend upon the performance of the MSR Loans.
Taxpayer has not produced any other documentation expressly identifying any MSR Loans that existed and remained outstanding as of the execution of the P&A (or any time thereafter).
The Consultant / firm are required to submit necessary documental evidence self- attested.
The MSR Agreement defines the MSR Loans as any “obligation of a Borrower(s) to repay [Failed Bank] an amount evidenced by a Promissory Note(s) and other Loan Documents.” For this purpose, the MSR Agreement defines “Borrower”, “Note” and “Loan Documents” as the borrower, promissory note, and loan documents, respectively, in connection with an MSR Loan.2 A schedule attached to the MSR Agreement lists the MSR Loans as of the date of the MSR Agreement; that schedule, however, does not list any loans.
Failed Bank retained the MSR for the MSR Loans, comprising (1) a duty to service the MSR Loans and (2) a right to a monthly fee equal to a fraction of the average outstanding principal of the MSR Loans.