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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"The intention would be to fiddle again. --Or, to grab the opportunity for an early election, around March, if the vicious smear campaign against Tony Abbott was paying sufficient dividends."   Mini-budget captures emptiness of the Gillard Government, writes Terry McCrann BY:TERRY MCCRANN  From:Herald Sun  October 23, 2012 12:00AM Increase Text Size     Mini budget a thimble and pea trick Business commentator Terry McCrann says savings in the Government's mini-budget target big business and middle income earners         Play     0:00 / 3:27 Scrubber mute Share Fullscreen WAYNE Swan's first four budgets were all deep in deficit. Those deficits added to a  WAYNE Swan's first four budgets were all deep in deficit. Those deficits added to a thumping $173 billion. Now he promises, he really really promises, to have the next four budgets, including this year's, all in surplus. Even if he delivered - he won't - the surpluses...
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  • doyla66
    doyla66 says #
    The real tragedy of Australian Politics is that the Labor Party has all the ideas and the Coalition has all the fiscal skills. The
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Loan scandal Would you loan a couple in their seventies more than $1 million? Well their bank did and now they are crippled by debt and facing financial ruin...
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  • doyla66
    doyla66 says #
    That Hayley Rose on the ACA website on Facebook is a piece of work. She went to Uni to end up working for Woolies. Sounds like a d
  • doyla66
    doyla66 says #
    JJ's Current Affair post has the longest string I've seen for a good while.
  • doyla66
    doyla66 says #
    It's called: bankster contrived "oppression", but we wont have a bar of it _ Royal Commission ASAP!
  • doyla66
    doyla66 says #
    They took JJ's comment off. WE NEED A ROYAL COMMISSION INTO BAKING INDUSTRY!!
  • doyla66
    doyla66 says #
    What did JJ put up there that created that reaction???
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REMINDER TO WATCH TO ALL
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Just letting you all know that I  just heard the promo on 7.30 report ABC1 for Stephen Long's report on Unscrupulous lenders.
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Posted by on in Fraudulent Loan Apps
NEWS FLASH: Tony Burke is stepping in for Bill Shorten: http://www.facebook.com/abcqanda(Maybe they're going to put Bill on with Denise lol!)Q&A broadcast can be found: Mondays 9.35pm ABC 1, repeated Tuesdays 12.30pmMon 9.35pm AEST Live simulcastCatch-up on iviewhttp://www.abc.net.au/tv/qanda/past-programs-by-date.htm .... top right hand corner, hyperlinksTo find out what time Q&A is broadcast wherever you are go to:http://www.abc.net.au/tv/guide/This is the program marked: NationalJust below this you can choose your location from the drop down menu. Then on the right hand side at the top edge of the program on display click on "next week" and adjust the display ("later") until you can see Q&A in either ABC 1 or ABC News 24. Broadcast is 9.35pm in the Eastern States and 7.35pm in WA. To ask a question you can write it in here:http://www.abc.net.au/tv/qanda/ask-question.htmI haven't found an email address for submitting questions. If you need help submitting a video question, Open ABC can help. Here's the portal for finding a producer:https://open.abc.net.au/openregionsFor information on the panel for the next...
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  • doyla66
    doyla66 says #
    Thanks for that for that update!
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:D
Reposting the information on Q&ANEWS FLASH: Tony Burke (Minister for Sustainability, Environment, Water, Population and Communities) is stepping in for Bill Shorten: http://www.facebook.com/abcqanda Q&A broadcast can be found: Mondays 9.35pm ABC 1, repeated Tuesdays 12.30pmMon 9.35pm AEST Live simulcastCatch-up on iviewhttp://www.abc.net.au/tv/qanda/past-programs-by-date.htm .... top right hand corner, hyperlinksTo find out what time Q&A is broadcast wherever you are go to:http://www.abc.net.au/tv/guide/This is the program marked: NationalJust below this you can choose your location from the drop down menu. Then on the right hand side at the top edge of the program on display click on "next week" and adjust the display ("later") until you can see Q&A in either ABC 1 or ABC News 24. Broadcast is 9.35pm in the Eastern States and 7.35pm in WA. To ask a question you can write it in here:http://www.abc.net.au/tv/qanda/ask-question.htmI haven't found an email address for submitting questions. If you need help submitting a video question, Open ABC can help. Here's the portal for finding a producer:https://open.abc.net.au/openregionsFor information on the panel...
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  • doyla66
    doyla66 says #
    I forgot, loser politicians like Shorten must be put to the back of the queue when it comes to elections and votes. Hopefully we w
  • doyla66
    doyla66 says #
    Shorten is too scared to meet with Denise face to face. He knows Denise would be too strong and that he'd be shown up as the loose
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Regarding the latest move of submitting today's letter to Australian Federal Police, I'd urge Members to touch base with their local 'talk back' radio stations to inform the 'Jurno's' of Denise's latest move (the 'talk backs' are always looking for something with which to kick the Pollies and 'Big Brother' organisations Butts). This will help bring out others who have been stung by the banks and didn't know how to move on, and help move Brokers with a conscience....
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  • doyla66
    doyla66 says #
    Yes indeed John I have been a previous guest a few times, of Ray Hadley, Alan Jones, Neil (Vic), Ross Greenwood and Qld, SA, ABC,
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How to Twitter or email questions or comments to the show Hey Lisa, I notice that you are familiar with Twitter... I was wondering if you could help me please (and for all our other members too) and put together some simple instructions on how we can send our questions/comments through to Q and A on Monday night for #qanda. Also are you able to locate the email address we can also send questions/comments to? The show is on earlier on the east coast, so I think WA members will have to watch it live (is that possible?) online, as if they tweet when it is broadcast over there, they will be too late! What are your thoughts? Are you able to help me? Thank you for all your great posts too :-) You have found some doozies!!!...
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  • doyla66
    doyla66 says #
    Hi STM, sorry for the delay. I've been doing the internet tango with Bigpond Making the most of connectivity now lol... NEWS FLA
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Posted by on in Fraudulent Loan Apps
Can I please have Anthony Klan's email address again please? This email address is being protected from spambots. You need JavaScript enabled to view it.
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  • doyla66
    doyla66 says #
    All good now. Found it on previous blogs. thanks.
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Posted by on in Fraudulent Loan Apps
Bill Shorten on #QandA on Monday night.  This is our chance to ask some great targeted questions of the Minister for Finance Ask a question of Monday's #QandA  Panel Includes: @billshortenmp @Tara_Moss  Angry Anderson Fiona Nash @thenitinsawhney  here:bit.ly/miVsRg6 hours ago · reply · retweet ·...
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  • doyla66
    doyla66 says #
    Hey Lisa, I notice that you are familiar with Twitter... I was wondering if you could help me please (and for all our other member
  • Denise
    Denise says #
    Ask the producers who prepare guest lists db
  • doyla66
    doyla66 says #
    http://www.abc.net.au/tv/qanda/email_thanks.htm Could everyone please write to them asap?
  • doyla66
    doyla66 says #
    Great idea. I agree that Denise should have final say re which questions so our message is in line with her philosophy and aspirat
  • doyla66
    doyla66 says #
    Thanks STM - I'd feel better if Denise asked the questions At least we'll find out if he's ever heard of us. I think he must hav
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  Jim Wilkinson   Wall St started bundling homeowner loans together, mortgage back securities and selling slices of those bundles to investors and they were making big money. So they started pushing the lenders saying “Com’on, we need more loans” Henry Paulson   Henry: The lenders are already giving loans to borrowers with good credit so they go bottom feeding and they lower the criteria. Ayad Akhtar   Before, you needed a credit score of 620 and down payment of 20%. Now they settle for 500, no money down Jim Wilkinson   And the buyer, the regular guy in the streets assumes the expert know what they were doing. He’s saying to himself “The banks are willing to loan me money, I must be able to afford it” So he reaches for the American dream. He buys that house. Ayad Akhtar   The banks knew the securities based on shitbag...
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  • doyla66
    doyla66 says #
    Bankers were bailed out by the US government for predatory lending, while victims of the lending are forced to suffer and lose the
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Denise Brailey was on 3CR's Renegade Economists Thursday - Podcast at: http://podcast.3cr.org.au/pod/3CRCast-2012-08-22-15522.mp3
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  • doyla66
    doyla66 says #
    Fantastic interview Denise! You have so much credibility and passion for what you are doing and it shone through in this interview
  • doyla66
    doyla66 says #
    Fantastic interview Denise! You have so much credibility and passion for what you are doing and it shone through in this interview
  • doyla66
    doyla66 says #
    Go Denise - awesome interview. I think your interviewer was completely shocked at what you were revealing. Good job!
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My friend in Latvia sent me this today. Quite interesting, well I thought so. What y'allthink? http://www.youtube.com/watch?v=gN6z7urunf0&feature=related...
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  • doyla66
    doyla66 says #
    Graham McAulay has run a Westpoint Investors Group site for years. I recommend it for anyone wanting more information on ASIC fai
  • doyla66
    doyla66 says #
    Excellant thanks Geoff. Well worth a look guys for simple plain English explanation of money-go-round and GFC.
  • doyla66
    doyla66 says #
    You are VERY welcome Lisa. It seemed relevant to Australia as bankers are bankers are bankers are bankers, if you get my drift. A
  • doyla66
    doyla66 says #
    That's great, Geoff! I hope someone makes one for the Australian situation as well. Seeing it like that makes sense. Thanks a
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NZ bank practices 'predatory' RICHARD MEADOWS Last updated 05:00 25/08/2012 http://www.stuff.co.nz/business/industries/7545253/NZ-bank-practices-predatory             An Australian consumer rights activist claims New Zealand banks used predatory lending practices to profit from widespread mortgage fraud. Denise Brailey has sparked calls for a royal commission into the Australian banking sector on the same issue, and hopes to head to New Zealand this year to continue her crusade. Addressing the Australian senate this month, she outlined the systematic abuse of “low-doc” loans during the pre-financial-crisis property boom. Brailey has documents alleging the asset-rich and income-poor were specifically targeted by lenders in a grab for title deeds, with application forms doctored to push the loans through. Brailey, the Banking and Finance Consumer Support Association founder, has "no doubt" the fraud occurred on both sides of the Tasman. Four of New Zealand's major banks are Australian-owned. Of the hundreds of indebted New Zealanders she...
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  • doyla66
    doyla66 says #
    Great to see the word getting out to Kiwis. There will be much more said about this in light of fraud loans already being quashed
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INDEPENDENT MP Andrew Wilkie believes the voluntary code of conduct used by the banking sector is a "toothless device" and must be changed to support consumers and small business. Full Story The Tasmanian MP says that since 2004 there have been 2.5 million complaints made against Australian banks but under the current code only 200 have been investigated. "There is clear evidence the current voluntary code of practice, which has been set up by the banks, run by the banks, overseen by the banks, frankly, it just doesn't work," Mr Wilkie told reporters in Canberra. He will introduce a private members bill into parliament to establish a mandatory banking code of conduct and give the Australian Prudential Regulation Authority (APRA) additional powers to "name and shame" banks that don't follow the code. It would also be able to fine banks that are repeat offenders. Mr Wilkie said the new code would...
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  • doyla66
    doyla66 says #
    We have emailed Senator Wilkie to thank him. We need more politicians who campaign for truth in politics. From: ARREE Sent: Wed
  • doyla66
    doyla66 says #
    Well done, Arree! Tell politicians clearly what you like and what you want to see more of. It does work
  • doyla66
    doyla66 says #
    The stats are mind boggling: 2.5 million complaints and only 200 investigated (and know idea if the investigation went past a simp
  • doyla66
    doyla66 says #
    2.5 million complaints - and they're only the ones that went through the orthodox channels... The rest of the population consoled
  • doyla66
    doyla66 says #
    STM, another good find.
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I was excited to see this morning the following link on  the Max  Keiser Report. As a part of our media release I sent a copy to them and others. They have been following it. They have linked back to the 7.30 report.  http://maxkeiser.com/2012/08/18/australias-sub-prime-scandal-finally-breaks-wide-open And these sites tonight: http://www.davidicke.com/headlines/71143-australias-sub-prime-scandal-finally-breaks-wide-open http://www.hangthebankers.com/australias-sub-prime-scandal-finally-breaks-wide-open/ Note to banksters: nowhere to hide now. Think that Australia wasn't going to become wise to your scam? Now the world is watching you. Come clean now and stand up as a true example how honest banking should be done and make amends for being lackeys for your banking shareholders. As a previous slogan ran: C'mon mate, do the right thing!...
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  • doyla66
    doyla66 says #
    Yes I have just updated the original blog, rather than reblog. Hope that was the right to do!
  • doyla66
    doyla66 says #
    Hi Bepa, Thanks for the update That's very exciting. On Twitter your story has been retweeted multiple times by new and old follo
  • Denise
    Denise says #
    Excellent work Bepa. Our banking and finance system is fractured. We not require a "band-aid" approach but some tough decisions
  • doyla66
    doyla66 says #
    Thankyou Bepa! Good work ) If we can get the message out around the world then maybe our elected leaders and eventually our bank
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Ken Powell
by: ANTHONY KLAN From:The Australian August 17, 201212:00AM   Ken Powell, at his home in Halls Head, Western Australia, faces losing his and his wife's home. Picture: Colin Murty Source: The Australian   ONE of the lenders at the heart of the low-doc banking scandal will no longer provide borrowers with access to their loan application forms, despite widespread concerns the documents may have been fraudulently manipulated.   Firstmac - against whose loans the federal government has invested $1.5 billion - said it would deny borrowers the right to access information about the income and employment status that appeared on the loan application forms. The statement follows revelations by The Australian that during the last property boom, loan application fraud was widespread, with mortgage brokers and others in the lending chain overstating the income and other financial information of borrowers in the chase for profits. The products of choice were low-doc...
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  • doyla66
    doyla66 says #
    Quite right, Marianna. I admire Ken for going public with his story in this way. It's easy to sit on the sidelines and judge him
  • doyla66
    doyla66 says #
    Mr Firstmac: knowingly concealment of true & real facts & circumstances = attempting to pervert the course of justice = felony!!!
  • doyla66
    doyla66 says #
    Very intersting feedback to this story. I wonder if Jafa of Melb would be saying the same thing if this person was in the Powell's
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Financial predators in the backyard Philip Soos Published 11:23 AM, 17 Aug 2012 Last update 1:08 PM, 17 Aug 2012   inShare   The Conversation The level of sub-prime mortgages in Australia may be far in advance of what was previously assumed and provided for by banks. The story was broken on the ABC, and coveredelsewhere. The revelations centred around two personalities: Kate Thompson and Denise Brailey. Kate Thompson was a licensed mortgage broker at Mortgage Miracles in Western Australia. A highly regarded and award-winning broker, Thompson disbursed a veritable torrent of credit from bank and non-banking lenders to clients wanting funds to buy property, making around $5 million a year from upfront and trailing commissions. She is now facing fraud charges for what amounts to predatory lending: providing credit to people with little to no expectation they will be able to repay the entirety of the loan. This fraud was achieved by fudging the income and assets of clients,...
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  • doyla66
    doyla66 says #
    Thankyou Andy. You find such different and interesting articles. Thankyou to Philip Soos Good for his clean conservative reportin
  • doyla66
    doyla66 says #
    Thanks Andy for finding this comment by Philip Soos. I am learning SO much reading all your interesting blogs... as well as other
  • doyla66
    doyla66 says #
    This is a great blog to be shared on Facebook - thank you
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Hi all, For those who missed Monday's ABC coverage http://www.abc.net.au/7.30/content/2012/s3566922.htm
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  • doyla66
    doyla66 says #
    That was really good coverage. I watched it. And good on you M for going on TV. We're not going to let the government or the other
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By Leith van Onselen Claims that Australia’s banking sector is conservative, safe and secure have taken a bath in recent days as evidence has emerged of Australia’s own sub-prime lending scandal. In April, we learned via the Australian newspaper how Australia’s largest banks are being forced to forgive mortgage debts of borrowers granted loans based on falsified or fraudulent information supplied by mortgage brokers. Then in June, the Australian followed-up with further reports (here and here) of Australian sub-prime lending, and the battle playing-out between unscrupulous lenders and borrowers. Now the Senate Inquiry into the post-GFC banking sector has revealed several instances of banks providing home loans to people who can’t afford them, and doctoring the paperwork so the loans looked okay. As well as allegations of widespread boosting in loan approvals. Perhaps the most shocking of the revelations are instances where the banks have been enticing elderly Australians into Ponzi-like...
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  • doyla66
    doyla66 says #
    Thank you Leith for your continued high quality unbiased reporting of this issue. That is all we the pawns in this scandel ask for
  • doyla66
    doyla66 says #
    Please read the many comments of Leith's site at the end of his article. Very interesting
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