GLOBAL SUB-PRIME CRISIS

BANKILEAKS

Click on our Secret Library of Evidence ------>

    BANKILEAKS Secret Library

Loan Application Forms (LAF's)  

    Bank Emails to Brokers  

    Then Click on 'VIEW NOTEBOOK'

Join us on facebook
 

facebook3           facebook2 

BFCSA
MORTGAGE
DISTRESS SOS

What BFCSA Does...

BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.

Visitors

Articles View Hits
443766

Whistleblowers' Corner!

To all mortgage brokers, BDMs and loan approval officers! 
Pls Call Denise: 0401 642 344 

"Confidentiality is assured."

Cartoon Corner

Lighten your load today and "Laugh all the way to the bank!"

BFCSA Blog

Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.

Click on the Cluster Map.

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Login
    Login Login form
Recent blog posts
CHARLES PONZI WOULD BE SMILING AT AUSTRALIA WITH ITS PUMP AND DUMP BANKERS   In Australia they are called RMBS Residential Mortgage Backed Securities. (USA calls them MBS). In 2012 8th August (2pm) I asked Senators "what percentage of the Tranches were Low Docs (ie Toxic Interest Only)?" Banks suggested 10% which I knew was false. More like 60% as Adelaide Bank chief admitted in 2004. In 2012 Banking Post GFC Inquiry, I warned the Government "Govt cannot ought not to profit from a fraud." It is not the mortgage that is securtised in Australia it is the INCOME STREAM.   This means the fraud is affecting the INVESTORS in the RMBS packs, who are unaware that many of the borrowers are on low incomes and pensions. The payments are being paid from more DEBT: LOCs Top Ups, Buffer's, Personal and Split Loans (ie not from income). Borrowers are paying...
Last modified on
Hits: 3 0 Comments
Rate this blog entry:
0
Continue reading
Prime Minister quietly issues warning on house prices!!!     Jason Murphy THE Prime Minister has issued a quiet warning to Australians investing in housing that they cannot continue to assume house prices will only go up. “Clearly you need to remember that asset price movements go in two directions,” Prime Minister Malcolm Turnbull said after a speech to an economics conference this week. In particular, this is relevant to housing. “It has been a pretty good one-way bet for a long time — but it is going to be important for people to be prudent.” Mr Turnbull made the comments alongside an observation that interest rates have risen for many borrowers. Interest rates are a big factor in the housing market. The lower the interest rate, the more you can borrow from the bank and the more you can pay for a house. Australians have borrowed a lot, and for...
Last modified on
Recent comment in this post - Show all comments
  • Consent_Withdrawn
    Consent_Withdrawn says #
    Come everybody put your security and your sanity on the line in Mal's Casino! The house always wins so you know they're blokes yo
Hits: 53 1 Comment
Rate this blog entry:
0
Continue reading
Super reform package will increase APRA's enforcement powers Australian Financial ReviewJul 20 2017 11:45 PM Tony Boyd   EXCLUSIVE  The prudential regulator will be given sweeping new powers to intervene in the governance of the $460 billion default superannuation sector as part of a package of reforms that will increase the scrutiny of fund trustees. The reforms, being released by the federal government next week, include a new "outcomes test" forcing the trustees of MySuper default funds to make an annual written determination as to whether the financial interests of members are being promoted by their trustees. The Australian Prudential Regulation Authority will be given new powers to refuse or cancel the authority of a regulated MySuper entity if APRA determines it has failed to comply with its obligations. This new test will allow APRA to more closely scrutinise the performance of MySuper funds against their stated investment objectives. It should...
Last modified on
Hits: 43 0 Comments
Rate this blog entry:
0
Continue reading
Why 60 Minutes stitched up the Commonwealth Bank Australian Financial Review Jul 20 2017 8:13 PM Aaron Patrick   Ross Coulthart couldn't have been more scathing. The Commonwealth Bank of Australia's "breathtaking arrogance" had reached a new low, the 60 Minutes reporter told one million viewers last Sunday.  In an authoritative but pained baritone, Coulthart laid out his case: Australia's biggest bank shoved money at a family-loving, job-creating battler from Cairns, Roy Lavis. When faceless city executives ditched him - on a dime with no fair reason - Lavis was forced into a fire sale that broke his company, CEC Group. "Roy's business was so prosperous the Commonwealth Bank threw money at him and encouraged him to expand," Coulthart said on the show. "Everyone was a winner. Until the bank changed its mind." There is one problem with Coulthart's tale: it doesn't seem to be true. The stakes are far higher...
Last modified on
Hits: 108 0 Comments
Rate this blog entry:
0
Continue reading
APRA lifts bank equity target to 10.5pc for 'unquestionably strong' benchmark Australian Financial Review Jul 19 2017 11:44 AM James Eyers, James Frost   The prudential regulator has lifted the target for major Australian banks' equity capital ratio to "at least 10.5 per cent" - up from the level of common equity tier 1 capital (CET1) of around 9.5 per cent as of December - in order to meet the "unquestionably strong" benchmark set down by the financial system inquiry. This will require the banks to raise billions of dollars of additional equity, although this may be able to be achieved by building more equity organically via retained earnings rather than conducting equity capital market raisings. Bank stocks rallied hard on the news. APRA will also consult with the market later in the year on new prudential standards including potential changes to the framework for risk weightings for mortgages that will...
Last modified on
Hits: 67 0 Comments
Rate this blog entry:
0
Continue reading
OPENING STATEMENT –  Senate Inquiry into Lending for Primary Production Customers.   DENISE L BRAILEY, President of the Banking and Finance Consumers Support Association (Inc) 19th July, 2017  Perth WA. My Research into Australian Mortgage Fraud during the past 17 years has led me to conclude:   the Frauds and manipulated data, found on thousands of Loan Applications forms are a key indicator of the existence of a CONTROL FRAUD, engineered by well-known Lenders.   Australia is now recorded as having the second highest HOUSEHOLD DEBT in the World.  The amount of Subprime Interest Only loans being sold per annum (85% by our Major Banks) has grown to more than $139 billion per annum.  The total mortgage loan books are reported as being $1.7 Trillion and rising.  The collective evidence of our members who include Farmers and “asset rich and income poor” ARIPs, are described by Banks as “The Target Market,” those...
Last modified on
Recent comment in this post - Show all comments
  • Consent_Withdrawn
    Consent_Withdrawn says #
    All low doc subprime fake loan claim actions should be frozen as well, and all homes repossessed because of them should be returne
Hits: 177 1 Comment
Rate this blog entry:
Continue reading
Farm lending wounds to be exposed in Perth   farmonline.com.au18 Jul 2017, 8:35 p.m. Colin Bettles   FARMERS and farm representatives from diverse backgrounds are set to deliver potentially contentious evidence at the Senate Select Committee’s inquiry into bank lending practices, at tomorrow’s hearing in Perth. Former One Nation Senator and WA farmer Rod Culleton, who was disqualified from federal parliament earlier this year after being elected last July, is listed to give what could be explosive testimony at the public forum. His inquiry submission has now been published, highlighting debt issues experienced through his farm business at Williams, which he and his family were forced off in 2013, which he alleges was due to the sale of the Landmark rural loans book to ANZ Bank. The inquiry was formalised in February by the Senate and is being chaired by One Nation Queensland Senator Malcolm Roberts. Senator Roberts will lock horns...
Last modified on
Hits: 120 0 Comments
Rate this blog entry:
0
Continue reading
RBA sets 3.5pc as new normal for official cash rate Australian Financial ReviewJul 18 2017 7:59 PM Jacob Greber   The Reserve Bank of Australia looks to be shifting tentatively towards ending more than four years of emergency monetary policy support, putting households on notice it has pegged 3.5 per cent as the new normal for the cash rate, equivalent to eight rate hikes above today's level. The move, which sent the dollar rocketing above US79¢ for the first time in more than two years, crunched bank stocks and triggered a bond market sell-off, implies mortgage rates would hit 7.25 per cent, adding close to $5000 in annual repayments to a $300,000 loan. It brings the central bank closer to echoing the more hawkish stance of policy makers in the US, Canada, Britain and Europe in recent weeks. Minutes of the July meeting, published on Tuesday, noted falling unemployment, increased government...
Last modified on
Hits: 126 0 Comments
Rate this blog entry:
0
Continue reading
Malcolm Turnbull clashes with corporate Australia Australian Financial Review Jul 18 2017 11:30 PM Phillip Coorey   EXCLUSIVE  The Turnbull government's strained relationship with corporate Australia has come under more duress following some heated exchanges between the Prime Minister and the nation's leading chief executives at a private dinner in Sydney on Monday night. Multiple sources, all speaking on the condition of anonymity, have told The Australian Financial Review that while there was mutual recognition that both sides needed each other and a genuine desire to be constructive, Malcolm Turnbull upbraided the business leaders for not helping out more with donations and generally not being more vocal in advocating the government's agenda. This invited complaints from the corporate leaders that much of the government's agenda was not friendly to them. One CEO listed as examples the imposition of the bank tax, the implementation of changes to section 46 of the Competition...
Last modified on
Hits: 96 0 Comments
Rate this blog entry:
0
Continue reading
DENISE BRAILEY to give evidence to Senators Inquiry re Lending to Primary Production Customers.   10.55 - 11.40am Weds 19th July at Mecure Hotel, 10 Irwin Street, Perth.   Rodney Culleton on at 11.50am.   See WITNESS schedule here starting at 8.15am: http://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Lending_to_Primary_Production_Customers/LendingPrimaryProducion/Public_Hearings   The sessions will be an audio broadcast. ...
Last modified on
Recent comment in this post - Show all comments
  • Consent_Withdrawn
    Consent_Withdrawn says #
    Let's hope this is the beginning of the turning of the tide.
Hits: 63 1 Comment
Rate this blog entry:
Continue reading
Roy Lavis is a decent hardworking Aussie bloke and a real life hero. Why? He stood up to the Thieves who inhabit the upper floors of the Commonwealth Bank. "Narev Nofriends" sits in his luxurious tower, busy counting his bonuses and running his PONZI Financing Empire. His only visitors and adoring fans are Turnbull and ScoMo. All three masters of the universe care not one jot for the people in the streets below, who innocently enter his Bank to be screwed..........Then along comes ROY. Roy Lavis decided to tell his own story of Bank Bastardry on 60 Minutes last night. As a provider of significant numbers of jobs he made his mark in running his significant businesses. Narev would ensure he was a prime target for offering more and more debt to ensure he eventually toppled over from the sheer weight of bank "asset-stripping" practices. Then came the STING: the devaluing...
Last modified on
Recent Comments - Show all comments
  • Consent_Withdrawn
    Consent_Withdrawn says #
    Law is founded upon MAXIMS OF EQUITY.
  • Consent_Withdrawn
    Consent_Withdrawn says #
    As for the court system, well normally I would happily abide by it because when someone treats me badly I don't mind the idea of s
  • Consent_Withdrawn
    Consent_Withdrawn says #
    If I ever get my hands on one of you slimy mongrels, I am going to turn you inside out. LITERALLY.
  • Consent_Withdrawn
    Consent_Withdrawn says #
    ...and you bank bastards, WE ARE COMING TO RIP YOUR HEADS OFF.
  • Consent_Withdrawn
    Consent_Withdrawn says #
    Everyone else involved in this bullshit needs to learn a basic lesson about common decency. I don't care how important you want t
Hits: 96 5 Comments
Rate this blog entry:
Continue reading
Banks told to sign up to forex deal or be shunned The Australian 12:00am July 17, 2017 David Rogers, Andrew White   Banks that fail to sign up to a new global code of conduct for the $6.6-trillion-a-day foreign exchange market will be barred from dealing with central banks as well as with other signatories to the voluntary code, according to the man who spearheaded its development, Reserve Bank deputy governor Guy Debelle. In an exclusive interview with The Australian, Mr Debelle said he was confident banks had begun improving their behaviour, even before the code came into effect, and that the dark days since the global financial crisis were over. “The main message is ... that the code is out there now and we expect people in the market to start adhering to it pretty shortly and sign up to the statement of commitment,” he said. “But I would say...
Last modified on
Hits: 165 0 Comments
Rate this blog entry:
Continue reading
Spotlight shines on shadow banking The Australian 12:00am July 17, 2017 Michael Roddan   Tough new powers for the prudential regulator to target the shadow finance sector will allow it to slap new rules on individual non-banks, the entire industry, or “specified” classes of lenders, as part of a crackdown on potential sources of instability in the financial system. The Turnbull government will today release draft legislation for consultation on its budget commitment to give the Australian Prudential Regulation Authority new powers over the activities of non-bank lenders. Currently APRA only has powers to regulate authorised deposit-taking institutions, which look after customer money that has been deposited with a lender. The shadow banking sector has remained outside the scope of the regulator, even in cases where the sector may be materially undermining the strength of the financial system. APRA has launched several new measures aimed at limiting excessive lending in the...
Last modified on
Recent comment in this post - Show all comments
  • Consent_Withdrawn
    Consent_Withdrawn says #
    Can't lose the plot if you never had it in the first place. Morriscum and co are A Grade MORONS.
Hits: 136 1 Comment
Rate this blog entry:
Continue reading
The Senate Select Committee on Lending to Primary Production Customers will be holding a public hearing in Perth on Wednesday, 19 July 2017. The committee wishes to invite you to give evidence at the hearing from 10.55am to 11.45am.   The PUBLIC hearing will be held at Mercure Perth, WA located on 10 Irwin Street.   Let’s go after these Banks once again…………..re Farmers re Agricultural or domestic loans – so many toxic loans.     NO MORE SECRETS:  We will have an opportunity to at least expose "the mechanics" of this evil style of lending.   Like you, I am sick of  “yet another Inquiry”, yet I feel the Roberts Inquiry is an opportunity to bring out the full mechanics of the fraud. We need  ROYAL COMMISSION INTO BANKING SECTOR. My appearance and being questioned by the Senators means: you can then a few days later read the transcripts in Hansard.  Denise...
Last modified on
Recent comment in this post - Show all comments
  • Consent_Withdrawn
    Consent_Withdrawn says #
    GO BFCSA! Rip Up the currrent Banking system...needs the shredder
Hits: 189 1 Comment
Rate this blog entry:
Continue reading
Turnbull’s meetings ‘should be classed as secret Lib business’ The Australian 12:00am July 15, 2017 Sean Parnell   Meetings that Malcolm Turnbull held with cabinet ministers should be deemed Liberal Party business and therefore out of reach of ­freedom-of-information laws, his advisers have argued. In an extraordinary escalation of the government’s campaign to keep official diaries secret, the Prime Minister’s lawyers­ have asked the Administrative Appeals Tribunal to depart­ from 35 years of FOI practice and declare such meetings purely political. The Weekend Australian applied­ for Mr Turnbull’s diary of September 16, 2015, his first full day as Prime Minister after successfully­ challenging Tony Abbott. It was also a sitting day, so the Prime Minister — the head of cabinet, responsible for setting the government’s priorit­ies — was in Parliament House. While some jurisdictions ­routinely release official diaries, such as those for the NSW and Queensland premiers, the federal government is...
Last modified on
Hits: 147 0 Comments
Rate this blog entry:
0
Continue reading
APRA could get powers to fire bankers without court process The Australian 12:00am July 14, 2017 Michael Roddan MESSAGE TO MINISTER IN A MUDDLE O'DWYER:  This issue is NOT about "Bad Bank Behaviour – The Big Issue is clearly about Criminal Asset-Stripping by Banks, and using a stolen war chest against Consumers.  STOP pussy-footing around this issue.  You are the Minister, start by calling in the AFP and then ask Brandis to brief CDPP.  Bankers urgently need BIG Jail Time.   The federal government has proposed giving the prudential regulator the power to fire banking executives without going through the Federal Court as part of new rules to hold bankers to account. In a Treasury consultation paper for the new Banking Executive Accountability Regime, released yesterday, the government floated plans to give the Australian Prudential Regulation Authority the power to establish “new expectations” for banking executives and their remuneration. The measures were...
Last modified on
Hits: 146 0 Comments
Rate this blog entry:
0
Continue reading
  ANZ: Australia “place of choice” for property money laundering By Unconventional Economist in Australian Property at 12:15 am on July 13, 2017 | 3 comments https://www.macrobusiness.com.au/2017/07/anz-australia-place-choice-property-money-laundering/   By Leith van Onselen After Australia was last month placed on a watch list by the global regulator – the Financial Action Taskforce (FATF) – for failing to comply with money laundering and terrorism financing reforms, ANZ Bank has blamed a lack of political will by successive Australian governments for failing to extend anti-money laundering (AML) laws to cover real estate gate keepers like realtors, lawyers and accountants. From The ABC: Australia’s hot property market is an attractive haven for criminals, with estimates that billions of dollars of dirty money is being laundered through residential property. Australia’s anti-money laundering law does not cover real estate agents, lawyers and accountants, despite promises when the law was enacted in 2006 that the legislation would be widened. ANZ’s...
Last modified on
Hits: 177 0 Comments
Rate this blog entry:
Continue reading
Bank staff ‘overlook criminal activity to keep clients’ business’ The Australian 12:00am July 13, 2017 Sam Buckingham-Jones   Traders and advisers from Australian banks and other financial institutions are willing to overlook suspected cases of money-laundering and terror financing to keep a client’s business, the ­financial intelligence agency says. In an assessment of why Australia’s financial system has a high-medium risk of facilitating criminal activities, a new report by the Australian Transaction Reports and Analysis Centre — AUSTRAC — found financial institutions must improve their reporting systems and work on the “vulnerability” posed by front-­office staff. “There is considerable scope for entities operating in these markets to improve their anti-money-laundering/counter-terrorism financing systems and controls to be able to identify and submit suspicious matter reports,” the AUSTRAC Money Laundering and Terrorism Fin­ancing Risk Assessment report found. “Front office staff, such as traders and advisers, can represent a vulnerability. Some reporting entities observed...
Last modified on
Hits: 107 0 Comments
Rate this blog entry:
0
Continue reading
Crime gangs targeting financial markets The Australian 12:00am July 12, 2017 David Uren   Criminal syndicates, many based in China and Hong Kong, are ­infiltrating Australia’s financial markets, with more than 660 ­suspicious transactions covering fraud, insider trading and money laundering reported in the past two years to the financial intelligence agency AUSTRAC. The agency’s review of vulnerability in the financial sector finds the risk is increasing as cybercrime becomes increasingly sophisticated, exploiting gaps in com­mu­ni­cation between financial institutions. “Serious and organised crime groups have exploited the sector to launder money and engage in market manipulation,” says the report, which focuses on trans­actions involving securities and derivatives. Fraud is the biggest source of criminal activity, accounting for half the suspicious transactions that financial institutions must by law to report to AUSTRAC. Just more than a fifth of suspicious transactions (21 per cent) involved money laundering while a further 21 per cent...
Last modified on
Hits: 111 0 Comments
Rate this blog entry:
0
Continue reading
BFCSA: THE CBA BIG STING - CBA SYSTEMIC breaches of trust  on 60Mins   The CBA have been accused of one of the most serious systemic breaches of trust imaginable. They have been accused of forcing productive small business customers into receivership and bankruptcy. The bank and its CEO Ian Narev have strenuously denied doing this. They say there is no need for a Royal Commission as they have fixed all the scandals.   Watch 60 minutes this Sunday and find out what they have been hiding. CBA won't be able to blame a "few ro...tten apples" and staff for this scandal. Systemic "constructive foreclosures" can only be carried out under the instruction of the Senior Executives and Board. The Banking System is rotten to the core and needs an urgent ROYAL COMMISSION INTO THE BANKS and without the political interference from Malcolm Turnbull  ...
Last modified on
Hits: 131 0 Comments
Rate this blog entry:
Continue reading
Wave of money points to looming pressure on RBA to lift rates The Australian 12:00am July 12, 2017 Adam Creighton   A wave of inflation is about to wash over Australia, compelling the Reserve Bank to lift interest rates, if the long forgotten, but reliable, link between increases in prices of goods and services and changes in the quantity of money in circulation still holds true. A trio of economists, including Malcolm Turnbull’s current economics adviser, have produced provocative research showing that the growth rate of the money supply — the value of notes, coins and bank deposits — is galloping ahead of economic activity, with the potential to compel the Reserve Bank to lift rates. “If a gap like this remains we could be facing 3 per cent-plus inflation in two or three years, the top of the RBA’s band,” said Griffith University economics professor Tony Makin. The excess of...
Last modified on
Hits: 132 0 Comments
Rate this blog entry:
Continue reading
From BFCSA Member.   Open letter to PRIME MINISTER Malcolm Turnbull: Banking Sub Prime Scandal.   Dear Prime Minister, I am writing to publicly ask you to right an enormous injustice which has continued on your watch.   Since you were elected, I have personally suffered far more than I can describe here - because of what the banks which you appear to be protecting have put myself and so many others through.   If you insist on going against the will of some very desperate people including myself, at our great expense I might add, then I must insist that you at least give something back to at least this one.   You seem reasonable, so I think in light of your actions I believe it perfectly reasonable for me to ask you if you might be so kind as to pay out my purported home loan?   It's a...
Last modified on
Hits: 93 0 Comments
Rate this blog entry:
Continue reading
Westpac ditches mortgage products in major product review Australian Financial Review Jul 10 2017 10:29 PM Duncan Hughes   Westpac, the nation's second largest mortgage lender, is ditching mortgage and equity-release products in a high-level review of its product range and underwriting standards. The top-down review is expected to reassess dozens of loans and lending packages, which include credit and insurance products, as the bank and its subsidiaries adjust lending criteria to changing market conditions. It is being undertaken as major big four competitors continue to tighten lending for interest-only loans, increase mandatory deposits for home loans and tighten access to credit-related products. It also comes as new independent research backs prudential regulators' fears about potential bottom line, long-term risks to borrowers being created by soaring property values and static incomes needed to repay inflated loans. "Westpac is currently reviewing our suite of home loans," the bank is telling mortgage brokers...
Last modified on
Recent comment in this post - Show all comments
  • Consent_Withdrawn
    Consent_Withdrawn says #
    Banks are not in the finance industry at all. There should be no finance industry, the concept itself is completely illogical. Fi
Hits: 131 1 Comment
Rate this blog entry:
Continue reading
The ‘sub-prime’ market is back in business The industry is terrified of using those words, but the fact is people bankrupt just a year ago can now get a mortgage   8 July 2017 https://www.theguardian.com/money/2017/jul/08/sub-prime-mortgage-bankrupt The “sub-prime” mortgage sector shut down following the financial crisis in 2007-08, but brokers say more and more lenders are returning to the market – with some willing to lend to people who were bankrupt as little as a year or so ago. On 30 June new retail bank Masthaven became the latest company to open its doors to people who have suffered financial problems, such as one or two missed mortgage payments, or who have county court judgments against them, depending on how big and how recent these CCJs are. Meanwhile, some of the existing players have been cutting the cost of their deals. Pepper Homeloans, which caters for those with “credit blips or previous...
Last modified on
Recent Comments - Show all comments
  • Consent_Withdrawn
    Consent_Withdrawn says #
    Why is it that oppressed victims of powerful alleged criminals and cartels have to continually jump through so many bloody hoops w
  • Consent_Withdrawn
    Consent_Withdrawn says #
    *preferred activity (Love it when spell check changes words by itself!)
  • Consent_Withdrawn
    Consent_Withdrawn says #
    It's open season on people without lots of money. There's an attitude in the community that those who do it tough are somehow les
Hits: 129 3 Comments
Rate this blog entry:
Continue reading
Westpac backs out of home equity By Houses and Holes in Australian Property at 12:18 pm on July 10, 2017 | 20 comments https://www.macrobusiness.com.au/2017/07/westpac-backs-home-equity/   Via AFR: Westpac, the nation’s second largest mortgage lender, is ditching mortgage and equity-release products in a high-level review of its product range and underwriting standards. The top-down review is expected to reassess dozens of loans and lending packages, which include credit and insurance products, as the bank and its subsidiaries adjust lending criteria to changing market conditions. It is being undertaken as major big four competitors continue to tighten lending for interest-only loans, increase mandatory deposits for home loans and tighten access to credit-related products. It also comes as new independent research backs prudential regulators’ fears about potential bottom line, long-term risks to borrowers being created by soaring property values and static incomes needed to repay inflated loans.   WBC doesn’t want any more exposure to home...
Last modified on
Hits: 136 0 Comments
Rate this blog entry:
Continue reading