In what is the most compelling evidence to date our audit for a Michigan foreclosure has confirmed an alleged MS accounting “Excel” bug used for backdating over 100 years. From a secondary tie out schedule provided the servicing agent to borrower it shows an alleged funding date 2/11/08 for loans disbursement date 100 years in arrears. Coming back they pick up 200 years as a Bond issuer sinking fund.
This appears by way of auditing the file and discovery of the notorious 1999 Y2 K controversy . Its no doubt due in part to Microsoft Corporation for sequence of dating issue and “glitch” using leap year 1900 . The computer glitch is perhaps the same issue causal to the 7/8/2015 NYSE closing.
In any event the accounting scheme revealed is damaging by way of concealment and general public policy. The parties of interest believed to be member banks are back dating 92 years and 8 years equal to 100 years offset by 100 years under section 108(i) accelerated recovery.
All alleged value in originating these “toxic” Legacy loans appears the back dating and perhaps why foreclosure is so essential to the attorneys and agents commandeering them through each state. In accompanying discovery for same case our analysis gives the court a chilling perspective into the means and methods used to procure a legacy loan or in this millennium of back dated interest accrual.
Just consider the value of a mortgage amortized over 8.13 years valued at $169,900.00 The findings and analysis were first discovered in 2013 by M Soliman auditor . It emerges in a secondary bank lender statement given to the household in default and will be shown in a upcoming case in MI. In our analysis of the statement we show an annual installment value of $20,906.06. or one years of payments alleged due from borrower.
By back dating they conceal over 91.87 years equal to $1,920,705.76 and when reversed equal to $2,090,605.76 in deprecation and amortization. The amount due is from the date of the borrowers last payment to date when told by purported servicing agents to stop making payments . . . in hopes of qualifying for a loan modification.
Clearly one can see why a borrower was denied a modification of terms and condition’s of their original 200 year loan. My belief that every foreclosure is conducted at a zero value is also confirmed in the statement we were provided where both 100 year accounts are shown at 0.00 .
What adds injury to insult to the foreclosure is the victim is left holding a century of taxable basis in assets and tax paid from the sale of their home.
M Soliman /Auditor / Registerclaims@live.com