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