FOS repeatedly have stated "The FSP is not liable for the conduct of the Broker! Even though FOS agree that a payment of commissions has been made to the Broker, and the Brokers assistance with the submission of LAF - but they agree with the FSP, that the Broker is now classified as a "MORTGAGE ORIGINATOR", and that any other factors, as stated above, are irrelevant and insufficient to show that the Broker was acting as the FSP's agent. Total disregard for the many Court Decisions and precedents already validated.
Further, FOS, agreed with our complaint to St George Bank, that the loan in excess of $400,000 should never have been approved, had the FSP acted responsibly when it advanced the loan. We quote "FOS found the FSP did not comply with good industry practice when it approved the loan. If it had done so, it would have realised that the information about the Applicants income, upon...