A banned mortgage broker has lifted the lid on ASIC’s attempts to “scapegoat” the broker channel by “making an example of anyone that comes in their way”. Insurance brokers could be in the firing line too…
Last week ASIC handed Sydney mortgage broker Athol Halvorsen a six-year ban and cancelled the credit licence of Gearing.com, where Halvorsen is a senior manager.
ASIC claimed he submitted nine loan applications to St George and Perpetual, pre-GFC, that contained false and misleading statements regarding the borrowers’ income and employment.
However, Halvorsen strenuously denies the fraud allegations, telling Insurance Business’ sister title Australian Broker Online the borrowers themselves signed the documents to say all information provided “was correct and true,” and the banks accepted it.
Halvorsen claimed ASIC will be targeting the broker community even more sternly moving forward.
“ASIC is just puffing up its chest and trying to make an example of anyone that...
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Athol I reckon BFCSA is your best bet along with all the other brokers,who are silently sitting in the wings,we could all prove it
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I am one of Athol's clients, definitely not one of the thousands of happy ones he claims to have. In my case I did not get the LAF
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Gaby, you are probably the best placed member to contact him & make the requests to check out BFCSA. This could end up as a win-wi
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It takes two to tango - the banks are just as much to blame - there is favouritism here and it's plain to see why. The banks contr
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If the broker who has been banned truly believes this why isn't he joining BFCSA instead of complaining? Why isn't he providing B