Chapter 6 - The origination file
The lender responded quickly once counsel became involved.
Community Union Bank.
Small regional lender.
Ashley had opened the line through a business-banking officer named Marcus Hill.
The file contained:
Encore Motion financial statements.
Lease.
Tax returns.
Ashley’s personal guaranty.
George Bennett’s limited guaranty.
And mine.
The application notes included:
“Borrower supported by sister, Laura Bennett, senior finance executive; family has historically subsidized business during seasonal downturns.”
True enough.
Another note:
“Father coordinating guarantor documentation.”
There.
Dad.
The lender had emailed the guaranty packet to him.
Not me.
Why?
Marcus Hill explained:
“Mr. Bennett said you were traveling and asked us to route through him.”
Was that normal?
“Not ideal.”
Did the bank independently confirm with me?
No.
That was a control failure.
Why accept?
The guaranty had a wet-looking signature.
A witness line.
Witness:
Linda Bennett.
My mother.
My stomach dropped.
Mom’s signature.
Actual.
Did that mean she saw someone sign my name?
Maybe.
Or signed later.
The guaranty also included a financial statement with my information and a photocopy of my driver’s license.
Old copy.
From my divorce records.
Dad had one because he once helped me make a refinancing packet.
I called Daniel Ross.
“Mom witnessed it.”
“Allegedly.”
“Her signature is real.”
“That doesn’t tell us what she witnessed.”
Right.
Authenticate before conclusion.
The bank produced an email from Dad:
Laura is out of state but has approved. Linda witnessed execution yesterday. Originals to follow.
Date:
June 14.
I checked my calendar.
I had been in Boston for work June 13 through 15.
Flight records.
Hotel.
Corporate card.
I could not have signed at my parents’ kitchen table on June 13, where Mom supposedly witnessed.
Unless the date was false.
Or the signature applied later.
The bank officer had not checked.
May you like
Bad process.
But whoever created the document had relied on the idea nobody would.
