Tuesday, May 6, 2014

Thad Cochran's Residency Lies

Thad Cochran has literally abandoned Mississippi for Washington.

On Sunday, Breitbart reported that Cochran has been listing Washington D.C. as his primary address since 2002. This is even more proof that Cochran is out of touch with Mississippians.

Breitbart found several “statement of candidacy” documents where Cochran lists a primary address in Virginia or Washington. Cochran claims that his primary residence is a “cabin” in Oxford, but Breitbart also produced documents that Cochran signed in 2006 and 2010 saying that the cabin is under a “second home rider”.

This is where the story gets even more interesting. Cochran might have done more than simply lie about his primary residence — he may have received a preferential loan from a friendly bank.

A “second home rider” is an addendum to a mortgage where the person states that they will not rent out their second home. Often, this allows the person to improve his loan. But at the time that Cochran signed the “second home rider,” he did not own any other homes.

If Cochran did not own any other homes, why would the bank allow him to potentially improve his loan by signing a “second home rider”?

Because the bank was in Cochran’s pocket! The bank that issued the loan was BNA Bank, where Cochran’s father-in-law worked as a director until 1994. BNA is now claiming that it made a “mistake” in allowing Cochran to sign the rider, but forgive me if I am not convinced.

Nobody knows if Cochran actually received preferential treatment on his loan. But if he did, it is exactly the kind of corruption that he is infamous for. And it is the exact kind of trickery that needs to be flushed out of Washington.

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