Its unprecedented in the history of Banking that people can now rely on social media to publish their mortgage statements and generate opinion. Below is a summary analysis posted by a Facebook borrower in a case pending the court decision.
From a Facebook posting the auditors saw the limited detail for the loan and of course the court docket number.
As an auditor I am not an advocate and in fact go where ever the assignment takes us – to either side of the desk . Auditing and banking are inseparable under federal securities laws that require publicly held companies that file reports with the SEC to submit financial statements that are accurate, truthful, and complete and prepared according to a set of accounting standards called “Generally Accepted Accounting Principles” (or “GAAP”). Many of these financial statements – must be examined and reported on by an independent auditor.
Its the facts we rely on and supply the CPA and Tax attorneys that speak for themselves and then its up to the court system to decide a matter of wrongful foreclosure.
Below is an interesting case that appears to run the norm as of late . No file no statements other than on on screen computer page from the lender provided the borrower in default . But herein it is the courts docket number that yielded us the entire summary analysis you see below .
It needless to say the question of ethics arise here for state claims or other government actor . Nor is it unlawful if the state is involved in a recovery for an agency such as the IRS . But it does help to be informed.
SO “LOL” as they in social media . . . you be the judge !