Do you see the Y2K Bug at Work

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Auditors

Below is an actual file audited as of year end 2017. The numbers at first glance may appear meaningless.

Here are the original loan amount and appreciated value  using 135 Percent of the notes face value.  The unrealized  balance was offset by a payoff figure provided by alleged servicing agents attorneys .

The difference between  unrealized  balance  and payoff figure provided by attorneys is 9873.37.  We use a future date July 31, 2045 and factor in the difference of 9873.37 and then adjusted 7 days 61 days and then back to January 1st 2000.

Next the auditor subtracted the last two dates May 12, 2018 and January 1,2000 and it equals a number that corresponds to a date in MS Excel .  May 11th 2018 which is the Dodd Frank legislative sunset .

Look again because what you think you see is one date is in fact another. . . 5/11/18 = 1918 and Total of 99.61 years backdating !. The July 31 2045 future date  came from an attorneys file number and was deciphered once again by way of  the Y2 K  formatting  controversy.

Millennium Y-2 K “BUG” Error.

 

According to National Geographic Research Society “As the year 2000 approached, computer programmers realized that computers might not interpret 00 as 2000, but as 1900. Activities that were programmed on a daily or yearly basis would be damaged or flawed. As December 31, 1999, turned into January 1, 2000, computers might interpret December 31, 1999, turning into January 1, 1900.

Banks, which calculate interest rates on a daily basis, faced real problems. Interest rates are the amount of money a lender, such as a bank, charges a customer, such as an individual or business, for a loan. Instead of the rate of interest for one day, the computer would calculate a rate of interest for minus almost 100 years!

So who is receiving  the back dated interest ?  As auditors our job is to affirm the above file is indeed back dated. Maybe not 100 years but 99.61 in a real example of the Y2 K  computer glitch.

The “bug” is for real !

Auditors and Secondary Accounting

Tel. 202-550-8364

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YOU MUST RECONSTRUCT THE GENERAL LEDGER AND ARGUE FACT:

A 10 Point MUST System to follow:

1. The SPS statements reveal a SUB ACCOUNT …Contra accounting or something other than a mortgage.

2. Have you addressed the interest-bearing account?

3. Have you addressed the outstanding balance?

4. If you subtract both you get ZERO! 26 US Code Sec 1.1091 Wash Sale

5. It’s for an abandonment of title `! “Contra Assets”

6. You cannot foreclose on zero in a Non-judicial foreclosure GAAP ASC 860 and 140-3

7. They issued a 30-day notice of intent for order of entry “judgment” Fed Debt Collections Procedures Act

8. The courts order is an AWARD and NOT a right to enforce collateral at ZERO

9. The State is awarding the SPS Agent and taxing it to you as ordinary income

10. After the foreclosure sale your accountable for 35 % withholding as COD Income

See the reporting requirements under 26 US Code sec 1.6050.P where “lender and servicer are barred from collections…”

Secondary and Capital Markets Accountants

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The Y2K Bug is Real !

According to researchers at National Geographic research Society, the Y2K bug was a computer flaw, or bug, that may have caused problems when dealing with dates beyond December 31, 1999. The flaw, faced by computer programmers and users all over the world on January 1, 2000, is also known as the “millennium bug.” (The letter K, which stands for kilo (a unit of 1000), is commonly used to represent the number 1,000. So, Y2K stands for Year 2000.) Many skeptics believe it was barely a problem at all.

As the year 2000 approached, computer programmers realized that computers might not interpret 00 as 2000, but as 1900. Activities that were programmed on a daily or yearly basis would be damaged or flawed. As December 31, 1999, turned into January 1, 2000, computers might interpret December 31, 1999, turning into January 1, 1900.

According to an secondary markets accountant and expert in the field of Banking and booking whole loan sales the Y2 K bug is the culprit in each foreclosure file reviewed .

The auditors has found evidence of back dating which distorts calculating interest rates on a daily basis.

Banks,  instead of facing real problems with how they calculate rates instead found a windfall . Interest rates are the amount of money a bank, charges a customer, such as an individual or business, for a loan.

Audits have revealed instead of the rate of interest for one day, the banks computers are purported to calculate a rate of interest for minus almost 100 years!

At foreclosure sale the Grantee is alleged an innocent third party purchaser for value. The concern is where the value of the property is five percent of the amount paid by investors.  This would explain some of the  allegations made by homeowners that they found their note was sold up to 10 times.

Below is an example illustrating the issue

5/11/2018   12/30/00   05/11/17
5/11/2018   12/30/00   05/11/17

Looking at both line items close. Can you tell where the 100 years is buried ?

More to come

Secondary Auditors / Form 1099 Auditors

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Only a Forensic Examiner can determine the Validity of an “Original” Note

A worthless web site called livinglies professes “Only a Forensic Examiner can determine the Validity of an “Original” Note”

The website plays on peoples weakness with daily hype and propaganda for the publisher

If you want to audit your file would will need the final HUD I , any foreclosure correspondences from the opposition and the purported servicing statements to date.

We use this data to demonstrate the cause of the default and purpose of the foreclosure under the Dodd Frank legislation and debt collections practices act under the IRS for something called COD income.

The federal tax code uses the term “involuntary conversion” to refer to cases in which you receive compensation for the destruction, theft or confiscation of property. If you end up with a new property to replace the old one, you usually won’t have any immediate tax implications. But if you just take the money and walk away, an involuntary conversion may be taxed like a regular sale, or a voluntary conversion.

Web sites like livinglies want you to believe there is a prevailing banker fraud involved in your case. The truth is revealed in an audit that encompasses gross amount of loan proceeds and attribution of COD income COD is the cancellation of debt and involuntary conversion of debt to equity paid to you as income.

The income is paid over installments as ordinary and taxed at the prevailing state and federal rates. This is all divulged in the post foreclosure issued tax forms 1099 A and 1099 C

You are going to get nowhere grasping at straws and are better off with a tax attorney if you can afford it . Start with our audit and let us show you what we find in support of the above mentioned arguments for claims.

If we cannot find determine or discover what we are alleging herein – there is NO COST

What you think you are losing is what owed to you …

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