Matthew Cox: belief

Transcript context

…So to commit fraud in this space, you have to misrepresent some aspect of your identity, of how much you’re worth, how much money you have, this kind of stuff? Right. You have to be able to lie to the bank. Anytime you lie to the bank, you’ve committed fraud. And it’s funny, when I was doing it, I would say, “Ah, it’s in the gray area. ” There’s no gray area. You’re either lying in some capacity or you’re not. So for instance, the very first loan I did, my borrower had been 30 days late on her rent. So they’re really looking at the last two years. So when you go into the bank, most of what they’re asking is a two-year window. They’re saying, “How long have you been on their job?” They care about two years, and “How long have you been at your residency?” They’re looking for two years. Now, you could be at three places in two years. That’s fine. As long as you consistently paid for two years. Well, she had been in an apartment complex, but she’d been 30 days late. Now she caught it up, but she was late. The bank doesn’t want to lend you money if you’ve been 30 days late. So I was a broker and I whited out the 30-day late. I just got rid of it. And my manager is the person that told me to do it. She said, “It’ll be fine.” And she was right, it was. What did it feel like? So that was the first fraudulent action you committed.…

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