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.

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THANKS WAYNE,  BIG WARNING DO NOT BECOME INVOLVED IN LINE OF CREDIT LOANS: If you do not fully understand them.  If your "friendly" Broker or Bank Manager suggest a LOC, please mistrust that person immediately... LOCS of $350,000 being offered to pensioners. Let us know if this happens to you.  Members please tell us your experiences....... Wayne explains: "This is a common, deceitful tactic of the CBA (and others) to get the borrowers to suggest the loan known as a Line Of Credit (LOC). The bank/broker advised us that our loan should be set up this way, as a LOC. This way, the borrowers get deeper & deeper into debt over many months or years (as in our case), eventually resulting in the borrower reaching the limit of the loan.  The loan repayments made to the CBA basically came from the loan itself." DENISE EXPLAINS: The product is sold that there are no...
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  • doyla66
    doyla66 says #
    Mortgage EZY Pepper Home Loans LOC $600K .. this loan paid out 2008 from the sale of our own home.n This loan was the start of the
  • doyla66
    doyla66 says #
    I'm so naive and trusting and stupid..the crook Brokers prey and clap their hands in glee when they come across someone like me.
  • doyla66
    doyla66 says #
    NAB "Flexi-Loan" pushed on me; culminated in ING 'refinance';a 'mortgage bunny' jumping from 'hole' to 'hole'(bigger).
  • doyla66
    doyla66 says #
    Have you noticed how everything with NAB is "Flexi"? Flexi card, flexi account, flexi loan, flexi super ! The only things the NAB
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Write to Owner of Firstmac: Mr KIM CANNON Dear Mr Cannon......I am seeking a copy of the service calculator which Firstmac relied upon to assess the "serviceability, affordability of my loan application. The Complete Loan Application documentation required from broker to you included the service calculator copy. My signature was required in several places to suggest I had read and fully understood everything. I now find I was only given three pages to sign and all other pages including the service calculator form was to be attached by the broker and faxed to your bank as part of the Loan Application Form and therefore formed part of the entire document. Since my signature was used to ensure the LAF could be properly processed, we are entitled to a copy of the service calculator in law. This copy ought to have been given to me when signatures were obtained. Please ensure your...
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  • doyla66
    doyla66 says #
    I'd love to see our loan service calculators - sorting fact from fiction is the name of the game.
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Treasury, RBA, ASIC and APRA are all on Government Song:  “we see no systemic issues.”  This was their “evidence” in the recent Senate Hearings by the Economics Committee 8th – 10th August….please read the transcripts.    The Federal Government is disgracefully trying to cover-up and hide the awful truth and condoning the lies and this must stop this hidden agenda immediately.   The BANKS were LYING and they have masterfully used the TOO BIG TO FAIL ARGUMENT and then encouraged our own FEDERAL GOVERNMENT TO LIE to the People’s House: Our Parliament!!!!  The Banks, ignored the HIGH COURT and the Judiciary.    This wretched state of nation affairs affects every citizen. THE WEAPON OF DECEIT: The dreaded Service Calculator and the plan to steal homes from ordinary citizens.  Whilst it may appear that Brokers “exaggerated” income figures, across Australia and NZ, they were taught to do so via a calculated mathematical technique combined...
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  • doyla66
    doyla66 says #
    Check out this petition, something like this is needed help clean up Canberra. Its fine to make lying an offence, but when it is s
  • doyla66
    doyla66 says #
    Apparently,PM knowingly misleading the world is No.1 priority re G20 Summit Mexico;"You can learn from AUS lecture to (EU)leaders
  • doyla66
    doyla66 says #
    I really wonder what planet the banksters are on. Clearly not the one I inhabit. They want to play dumb, do they? Well not surpris
  • doyla66
    doyla66 says #
    "What is the penalty for deceiving a Parliamentary Joint-Committee these days or are banks executives immune from prosecution beca
  • doyla66
    doyla66 says #
    "What is the penalty for deceiving a Parliamentary Joint-Committee these days or are banks executives immune from prosecution beca
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Posted by on in Consumer Warnings
At last TRUTH is bubbling to the surface. BFCSA asked you to seek a copy of the SERVICE CALCULATOR FORM ("SCF") for a very specific reason. We believe it will lead you to unravelling the hidden methods used by banks and the internal loan processing system used by credit assessors.  We hope this revelation will lead us all to a ROYAL COMMISSION INTO THE BANKING SECTOR Through hundreds of Members' efforts in asking for copy of the Service Calculator during the past month, we can now reveal the following:- All Bankers have decided in unison: "the service calculator is an internal document." Another explanation: "The service calculator was only used by credit assessors to assess affordability." IN TRUTH:  The SERVICE CALCULATOR is a secret weapon of the bankers involved in  this scam and a dirty little secret they would prefer you did not discover.  The Calculator is actually an ONLINE CALCULATOR designed and...
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  • doyla66
    doyla66 says #
    You describe this so simply in such an uncomplicated way. Just brilliant! What still stuns me is how deftly they have colluded in
  • doyla66
    doyla66 says #
    WOW!!
  • doyla66
    doyla66 says #
    They have to be taken to task. Evil happens when good people do nothing.
  • doyla66
    doyla66 says #
    Denise this is got to be one of the best blogs yet. You have described it so acurately it all makes sense, the pieces are all fitt
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TRUE STORY - we love the truth.  It has a delicious way of bubbling to the surface Guy named Bill has mate he works with named Joe. Chatting away Bill said: "mate real big problem with dodgy LAF and CBA Bank, DB helping me out…she says SERVICE CALCULATOR is the culprit not the broker – it’s the banks teaching broker to just put base income into calculator and woosha!   In my case: $35,000 up to $130,000.  I had no idea." Banks' service calculator (on bank pvt database) deliberately recalculates and inflate incomes …. Joe goes home to his fiance and says: Hi sweetie, guess what has happened to Bill today….......... Sweetie says: when I go into work tomorrow I am going to check that out. Sweetie just happens to work for Woosher Bank ( to protect the staffer).  Couple plan to get married soon and are looking at buying a home. Both on modest...
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  • Denise
    Denise says #
    Hi Lisa - great call re audits and S 25 of the Code; Its called DE - REGULATION: meaning everyone can now look the other way...not
  • doyla66
    doyla66 says #
    Thankyou, Denise. I wasn't sure if I'd got it straight ... I wondered if PwC, KPMG, Deloitte etc fudge their reports for the ASX
  • doyla66
    doyla66 says #
    I've been wondering... Being a forward projection device which allows brokers and banks to crystal ball gaze into the future of ou
  • doyla66
    doyla66 says #
    When I received my copy of SCF it had hubby down as $250,000 gross per month, thats right 1/4 of a million. (I wish it was that pe
  • doyla66
    doyla66 says #
    I don't have the SCF for my partner yet, but the documentation that I do have shows a very healthy "income", the figure supplied a
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Posted by on in Consumer Warnings
The new NCCP LAWS are a disgrace, engineered by banker lobbyists and without consultation of consumers.  Consumers are feeling the brunt of non-protection.  Predictably, these new laws have placed the ONUS of "incorrect information" be landed on the shoulders of the Brokers.  The Banks invented the Broker Channel and are the source of the skulduggery which ASIC and APRA knew years ago, with evil intent contained in the SERVICE CALCULATOR FORM. The service calculator is a dastardly piece of handiwork specifically designed and engineered by banks to intentionally blame brokers when the Bubble Burst.  Now last I read: "intention to deceive" is one of the prime principles of identification of FRAUD. So by shifting the ONUS of the information on the LAF onto the shoulders of the Brokers, ASIC is dooming consumers to more of the same losses.  The Federal Government must take note as these are serious allegations and the Parliamentarians have passed a law which is utterly flawed. LOSSES were predicted by...
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  • doyla66
    doyla66 says #
    If parliament has passed flawed legislation it could be because of their blind spot over the illegal and immoral actions of cruel
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All those with Lo Doc and No Doc loans: Ring your bank and ask for a copy of the Service Calculator Form, that the banks relied upon to approve your loan.  You may be surprised.  If you have difficulty obtaining this document, email me on This email address is being protected from spambots. You need JavaScript enabled to view it. Denise  ...
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