It may have been David Flude who let his pride write a cheque the bank of public opinion bounced due to insufficient ethics, but it seems most likely that HomeEquity Bank will get stuck paying to clean up the mess left behind by the hide and seek brokerage.

The apparently inevitable closing of Verico the Mortgage Station will not be the end of this story.

All indications posted publicly by Verico the Mortgage Station support that it is floating down a river called insolvency, with neither oars nor rudder, and is headed straight for the waterfall of bankruptcy. If, or should we say when, that happens, our story of success in exposing fraud by loan sharking within the mortgage industry will turn to focus heavily on the Schedule 1 Canadian Chartered Bank that protected brokers who took advantage of their senior and veteran clientele, through which that negligent bank promoted their CHIP Reverse Mortgage, putting profit by any means ahead of the safety of their most vulnerable clients.

Without the enablers of the HomeEquity Bank, the loan sharks at Verico the Mortgage Station would not have been able to hide for more than two years.

Verico the Mortgage Station has noticeably reduced the numbers of agents and brokers, from a high of about twenty-seven to just seventeen. The most recent agent to go is Steven Gudrie, who vanishing from the website earlier this week. He was second row from the bottom, sitting next to Jolanta Mierzejewski who disappeared last week. Like her, Steven Gudrie simply vanished without being replaced. When we started reporting on this story, Verico the Mortgage Station was announcing an expansion but has instead experienced a 37% reduction in the size of their team. It is also evident that senior staff are not immune to the exodus, including Lisa Purchase, as they are also bailing, most likely due to reduced income, or they are being thrown under the bus, as scapegoats for the corporation's collective lack of ethics and violations of public trust. Offices that were built for the announced expansion have been converted to apartments available to the public, presumably to generate cashflow, and the newly constructed customized office, located in the middle of nowhere, is being pitched as a potential rooming house for a hamlet that has a total population of 700 people. To inspire a speedy sale, which has not happened, Verico the Mortgage Station reduced the price by $500,000.00, which represents more than 10% of the original asking price.

Absolutely in no way do any of those facts suggest that Verico the Mortgage Station is now thriving, as was apparently the case when they chose with predetermined intent to defraud a senior and veteran by usury.

When the time comes that Verico the Mortgage Station is no longer a component in this story and working on the principle that they don't just rebrand and reopen elsewhere, which our friends in the industry are watching for us, HomeEquity Bank will be left holding the bag. In our most recent letter to Katherin Dudtschak, the President and CEO of the Schedule 1 Canadian Chartered Bank and Jo Taylor, her counterpart at the quarter-trillion-dollar Ontario Teacher's Pension Plan, which holds the bank as an asset of its portfolio, we addressed this likelihood. However, as has been the case consistently for more than two years, our correspondence was ignored. What these 'ethical financial professionals' don't seem to grasp is that ordinary people, their prospective new clients, understand that multi-million, multi-billion, and quarter-trillion-dollar corporations do not hide from a small, not-for-profit, social enterprise community media service that donates all services to any charity, not-for-profit, or benevolent group that asks for help.

Hiding has not worked, as is self-evident from looking at the results for the well-established and once successful brokerage, but apparently, HomeEquity is either stuck in that rutt, or they have no idea what else to do.

As we discussed in our article "Pride Goes Before Destruction - HomeEquity Bank", mortgage brokers receive a commission of about 1%, which averages around $4,000.00 per mortgage. Meanwhile, a standard reverse mortgage, like the CHIP Reverse Mortgage, sold by HomeEquity Bank earns for the lender about $250,000.00 over a ten-year period, which is essentially locked in. This means that the loss of just one client costs the HomeEquity Bank roughly sixty-two and a half times as much as is true of Verico the Mortgage Station with which they obediently collaborated and protected from exposure for criminal and ethical breaches of public trust.

So, what in the name of sanity was Steven Ranson thinking when he agreed to turn a blind eye to the loan sharking brokers, and why did Katherine Dudtschak not stop the criminal collusion when she took over?

For many months, we have been seeing, in exponentially increasing numbers, what we call drive-by visits to our website. Although originally focused almost exclusively on Verico the Mortgage Station, about six months ago the pattern shifted to target much more on HomeEquity Bank, and to a lesser degree Verico Financial Group Inc. Regardless of the specific corporation of interest, the pattern starts with a direct link from Google or another search engine to a specific page on our website. Then, after reviewing the content or watching the video, the visitor almost inevitably goes to the website of another brokerage, which we can track, never to be seen again.

They come, they learn what they were looking for, and they go elsewhere to buy their mortgage.

During the past half year, these kinds of direct reference inquiry about HomeEquity Bank have not only matched but have noticeably exceeded those for Verico the Mortgage Station, which hardly seems fair since David Flude's brokers are the ones who committed the crime. Currently Verico the Mortgage Station draws about ten 'drive by' enquiries, while HomeEquity Bank attracts around twelve. Those drive-by visits are in addition to regular traffic, and although they may not sound like a lot, if only half of those requests for more information results in a visitor going elsewhere, the figures for both Verico the Mortgage Station and HomeEquity Bank reflect massive financial losses of opportunity to both. They would also explain the falling house of cards at Verico the Mortgage Station.

To remain fair, we decided to base our calculations on the theory that only half of those drive-by targeted visitors choose to go somewhere other than those two corporations for their services, which is conservative.

In that scenario, each week, Verico the Mortgage Station would lose five potential opportunities valued at $4,000.00 each, totalling $20,000.00 a week, or $1,040,000.00 per year. That amount, as a percentage of what had been $6,000,000.00 in annual sales, goes a long way to explain the lost agents and brokers, the office conversion to apartments, and the desperate need to sell the new custom designed offices at 1370 Killarney Beach Road, Lefroy, which David Flude now seems willing to sell at a reduced price for conversion into affordable housing.

For HomeEquity Bank, the situation is seriously so much worse.

Using the updated number of twelve drive-by visits per week, and the same 50% ratio of lost opportunities, which is conservative, the HomeEquity Bank experiences a loss of opportunity, valued at $250,000.00 in potential income over a ten-year period, every time a visitor to this story chooses to buy into another option that is not a CHIP Reverse Mortgage. That adds up to $1,500,000.00 per week, or $78,000,000.00 per year. In the case of HomeEquity Bank, the lost sales, valued at $213,693.63 per day, are not restricted to those generated by Verico the Mortgage Station. People are frequently visiting our pages looking for information about HomeEquity Bank and the CHIP Reverse Mortgage, and they are coming from every province in Canada. That will only get worse when we launch our social media campaign focused on major population centres across the country. That will be launched soon, when the weather cools consistently, and more people are spending time on social media.

We have never understood why the HomeEquity Bank chose to help the brokers of Verico the Mortgage Station, but now that they have apparently cut all ties, we can only assume they see the error of their ways.

The board of directors of HomeEquity Bank know we have a one hundred percent success rate in defending against abusive Strategic Litigation Against Public Participation (SLAPP) litigation, the kind used by the wealthy to silence the truth of their own legal or ethical breaches of trust. They also know that we are well connected and supported by our community. Most importantly, they know that we have the evidence to back up the allegations of fraud by usury, as committed by the brokers at Verico the Mortgage Station, and of how Verico Financial Group Inc. and HomeEquity Bank covered for them by refusing to investigate the fraud that was committed based on the CHIP Reverse Mortgage, as is outlined to be their responsibility within their corporate policies, which they permitted to extend for so long as to be an indictable offence of "Fraudulent concealment" under Section 341 of the Criminal Code of Canada.

This is why none of these massive corporations have shown the courage to sue our small, not-for-profit social enterprise, as they do not want a judge to see the evidence that has turned the public against them all.

If, or when, Verico the Mortgage Station goes under, which certainly seems from their own posts to be inevitable, HomeEquity Bank will be left flapping in the breeze. They could try to sue David Flude, but he is likely protected under the Corporations Act, and of course, Verico the Mortgage Station would have liquidated everything it owns, including its building, trying to live another day. The brokers who committed the crimes will wander off to other brokerages, leaving this story behind them as so many already appear to have done, and HomeEquity Bank, the most powerful co-conspirator in this tale of crime and client betrayal will stand alone in public scrutiny as is happening now more every day. If you think this can't happen, consider how many times the banks have been burdened with the debt of Donald Trump whenever one of his get rich quick schemes failed, and who remembers Enron 'America's Most Innovative Company' for six consecutive years?

You can practically hear the onomatopoeic expression mimicking the descending sound produced by a 'sad and lonely' slide trombone.

Before you waste sympathy for any of these 'ethical financial professionals', remember that the brokers of Verico the Mortgage Station stole money through usury, or loan sharking, from a senior, veteran, and community philanthropist. Then they refused to meet and discuss it. Then they called in their multi-million and multi-billion-dollar friends at Verico Financial Group Inc. and HomeEquity Bank to cover for them. Then, all three hid for more than two years, refusing to address the crime or review the irrefutable evidence. The only 'issue' for them is that this time they played their scam on the wrong person, and they have been exposed for what they did, resulting in lost business opportunities, and evidently the sad end of a lifelong dream for the perpetrators.

All three corporations have received multiple invitations to discuss our allegations and to disprove our evidence, but instead, they have each chosen to sacrifice opportunities rather than face the truth.