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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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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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Posted by on in Toxic Mortgage Loans
Please assist me with this one: We want researchers on to a task needed asap We want to record every major collapse and loss both here and in NZ.  I will start you off...please send them to my email address and place the word LOSSES in the subject bar. We want the following uniform details:  Remember ASIC has seen no systemic issues Name of company            Yr of Collapse    # Investors        $LOSSES$ BRIDGECORP                      2007                   14,500       $490 Million WESTPOINT                      2005                    8,000 (?)   $380 Million Place "?"mark there if not sure of figure....Liquidators have the actual figures....start digging Here are some of the collapsed firms:...
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  • doyla66
    doyla66 says #
    I've started researching ... and discovered a whole lot more of them. I'll send you what I have and get stuck into the rest first
  • doyla66
    doyla66 says #
    This is a great idea. If anything it will highlight ASIC's incompentence & pretence at 'enforcement'. It was the Opes Prime failur
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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'm not a Facebook user or fan of it but there are a great many millions of people who are. My daughter doing a Marketing Degree just told me we need one to extend our message. We have a lot of Published Accounts from the media that could be posted on our page. I don't think we would want to use BFCSA in the page title but something catchy about Banking would be great. If we have a member who could set up a page it could be another avenue to get the TRUTH out to the Masses. Facebook is like living in another persons house it appears so the messages spread like wild fire through the FRIENDS Network that is Facebook. Not only would it provide another discussion forum but it may be the only avenue some people, like ourselves, have to find the BFCSA and realise that they are...
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  • doyla66
    doyla66 says #
    Honesty, thanks for the change info. People Power is definitely what it's all about
  • doyla66
    doyla66 says #
    This is the sort of thing change.org can help with.Warning it's very sad and too close to home for some,Banks Behaving Badly,WORLD
  • doyla66
    doyla66 says #
    I'll do it. But only if no one else puts their hand up.
  • doyla66
    doyla66 says #
    David, a post overdue. How come it's always our kids that point out the way to go. A real role reversal.
  • doyla66
    doyla66 says #
    Your daughter is right - it will extend our message. The way I was shown to use it (for ecommerce applications)... The tweet lin
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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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August 13, 2012, 6:15 pm Damien Hansen Today Tonight   Marilyn Bellamy has nothing but regret after accepting a bank manager's offer to open up his branch early just for her. http://au.news.yahoo.com/today-tonight/money/article/-/14541077/bank-victims/#fop   Marilyn was getting was a line of credit for $300,000 from Westpac bank manager David St Pierre. St Pierre is now the subject of a Senate investigation. “I was able to get a low doc loan - it meant that I had equity in the house, I could stay in the house, pay everything - it sounded so good”, Marilyn said. Marilyn remortgaged her home to invest money into a fraudulent investment scheme spruiked by Liz Orchard. The scheme has also ruined the life of Dell Black who took out a $275,000 loan from Mr. St Pierre and her 98-year-old mother got one for $140,000. Gold Coast developer Rod Lambert says Westpac's lending practices need further investigation.“It's wiped...
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  • doyla66
    doyla66 says #
    Oz Rip Off is back we are now on facebook at oz rip off , twitter @ozripoff we are exposing ray white real estate if you have been
  • doyla66
    doyla66 says #
    Hi, Maybe a good avenue for public awareness is talk back radio, like Alan Jones, Ray Hadley, Jason Morrison etc. they have a huge
  • doyla66
    doyla66 says #
    Hi, Maybe a good avenue for public awareness is talk back radio, like Alan Jones, Ray Hadley, Jason Morrison etc. they have a huge
  • doyla66
    doyla66 says #
    Talk back radio. A really good idea, Hugh. Can anyone pick up the talk back shows where they are? I think they're city radio stati
  • doyla66
    doyla66 says #
    Marianna, What a slime. You must post your story to each of the Senators and the editors of as many papers you can contact. I am t
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The exceptional talents of Stephen Long will be at the forefront of exposing the collusive nature of banking practices in Australia. BFCSA has made several public calls for a Royal Commission into the Australian Banking Sector - this episode will explain why nothing less than a Royal Commission can be expected if the Government is to adhere to the wishes of its constituents. What you will see will rock the banking system to its core.  The corruption and the negligence of the regulators will at last be exposed.  Our fellow citizens will be horrified at the revelations you are about to see.\ DON'T MISS IT. Write to the Prime Minister and tell her to call a Royal Commission immediately....
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  • doyla66
    doyla66 says #
    Hi Denise, I would like to thank you for bringing this to the attention of parliament. It is about time that someone has shown so
  • doyla66
    doyla66 says #
    Why would PM Gillard call a Royal Commission into the banking fraud ?
  • doyla66
    doyla66 says #
    Thank you Denise for leading the way!!!!!! I hope there's more tomorrow night. I told everyone to watch. GAME on banks and puppets
  • doyla66
    doyla66 says #
    Looking forward to the great expose on the banks - our friends are watching it too.Thanks to all the people who took part in the i
  • doyla66
    doyla66 says #
    Just saw it on ABC 7.30 REPORT in SA ,, A BOUQUET for Denise.
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Posted by on in Fraudulent Loan Apps
We have plenty of Journalists and Reporters writing our message from the Eastern States and including overseas publications and interests.  Problem for Western Australians...we are a little parochial here..... and only one contact from local paper.  We are so isolated here and miss all main stream news.  Midland and Northam readers will have a wonderful time this week reading their publication this week...  Go the ECHO. I suggest you ring and order your copy and thanks Rashelle.  ...
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  • doyla66
    doyla66 says #
    TodayTonight(2nd Report Mon Aug 13)"Westpac lent money to people who had NO Hope of repaying the debt" follow up story re Westpac(
  • doyla66
    doyla66 says #
    Good to hear the Echo is making it easier for areas of WA to stay in the loop on this important issue. If we can republish this i
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Posted by on in Fraudulent Loan Apps
For the purpose of bringing more exposure to the banking corruption along with the AFP and other State Police bodies' failure to investigate these acts of forgery and fraud, I strongly urge BFCSA and it's members to begin 'taking note' of those good journalists around the country that are willing to shine a light on what is going on in this area.I would firstly like to congratulate and thank Anthony Klan of The Australian for his ongoing work. Next up for a mention is Natalie Gerritsen from the Financial Review for her piece on Sean Butler's plight. I have not had time to check whether Ms Gerritsen has written more articles on the topic. Perhaps other members could assist as well in this?Let's start a 'Hall of Fame' for journalists, politicians and other players that do the right thing in assisting those who have had bank fraud perpetrated against them.It would...
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  • doyla66
    doyla66 says #
    UPPED - Senator John Williams Another good idea from your camp Chris
  • doyla66
    doyla66 says #
    Thanks guys, I appreciate that we all think it's worth doing. Knowing how busy DB is, and therefore getting a major section added
  • doyla66
    doyla66 says #
    Great idea. We all like a bit of recognition for a job well done, particularly when one has the courage to tackle the hard issues.
  • doyla66
    doyla66 says #
    I like your idea of a Hall of Fame last-laf...hopefully we'll be able to put a few Senator mug shots, after a good result for the
  • doyla66
    doyla66 says #
    Stephen Long has more than 22 years experience as a journalist. For the past five years he has provided reports and analysis for v
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Posted by on in Toxic Mortgage Loans
Has anyone heard of or had dealings with City Link Finance? I have an Originator Number 19 on the documentation. The year of the application is 2003. I've been trying to locate the company on the off chance that they may have the originals (wet ink) of our LAFs. I have copies of just a few pages from First Mac/Tonto, but they were copies from the faxes received at Tonto in Brisbane. I've already asked the broker but had no reply. He was a friend/colleague of my late partner. Otherwise I'll have to work off the faxed and scanned copies. Thanks Lisa...
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  • doyla66
    doyla66 says #
    Thanks for the help! that's wonderful
  • doyla66
    doyla66 says #
    Same person owns or is managing director of Queensland State Home Loans,First Mortgage Company Ltd,Tonto Home Loans Pty Ltd,Firstm
  • doyla66
    doyla66 says #
    With som many companies being involved, I certainly hope these are not the dreadful $2 shelf companies. That would be how they duc
  • Denise
    Denise says #
    Yes Tonto Home Loans Pty Ltd was headed up by Queenslander (ex ANZ exec) KIM CANNON around the early 00's. In 2003 I lodged a com
  • doyla66
    doyla66 says #
    Thankyou, Denise. Who is the keeper of the Originator Register? I'm looking for OID 19. Origin was one of the lenders on the pai
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Posted by on in Fraudulent Loan Apps
I SEE SOME IRONY IN THE FRONT PAGE STORY OF THE WESTERN AUSTRALIAN WEEKEND PAPER. THEIR IS A POOR MAN IN THE WATER ALL ALONE WITH A SHARK CIRCLING.  SOUNDS FAMILIAR  THEIR IS A LOOK OF FEAR ON HIS FACE SOUNDS FAMILIAR THEN I LOOK FOR ANY ARTICLE IN THE PAPER ABOUT THE SENATE INQUIRY. PAGE 23. I COULD WRITE MORE ON A POSTAGE STAMP. SHANE WRIGHT THE SO CALLED ECONOMICS EDITOR WROTE THIS ARTICLE. IT SHOULD BE SHAME WRIGHT NOTE SHANE WRIGHT THE EDITOR THAT WRITES VERY LITTLE.   ...
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  • doyla66
    doyla66 says #
    Local and regional media are often part of say News Ltd, Fairfax, etc and don't have exclusive say on what goes into their publica
  • doyla66
    doyla66 says #
    THANKS
  • doyla66
    doyla66 says #
    Pge 23...gives me the sh...s.....wen it all hits they will look like fools
  • doyla66
    doyla66 says #
    It was a rather tiny little effort & the slant or tone of it was about generating sympathy for Wankbest. Reading it today was a Gr
  • doyla66
    doyla66 says #
    I FEEL COMMENTS ONLY CAUSE CONFLICT BETWEEN PARTIES. ALL PARTIES DO NOT KNOW THE EFFORT THAT EACH HAS AND STILL GOES THROUGH TO MA
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Page 6 Weekend Australian Anthoy Klan reports on class action for victims of the $3 billion Storm Financial collapse - lawyer said he had reviewed "hundreds" of low-doc loan application forms and the practice of fraudulently inflating borrower incomes was standard.  He said in almost every case borrowers were handed just one page of a larger document to sign and financial planners or mortgage brokers would later fill out the remaining page relating to a borrower's income. "There was no provision for a signture where there was provision for information and there was no provision for informtion where there was a provision for a signature."  "It's the case with applications involving almost every bank.  It seems they set up a system where they could make someone else appear responsible" Absolutely - this is precisely what happened to us and I'm sure it's what happened to all you folks out there swimming...
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  • doyla66
    doyla66 says #
    LAF=Annexure to Loan Offer/Contract&banksters deliberately abandoned initial each page best practice > WHY indeed????
  • doyla66
    doyla66 says #
    Thank you Anthony for bringing this all into the light. PLEASE kep going!
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No confusion Mr Westpac; shame on you all > Your branch #shop61_Pacific Fair(Qld)Your 'former' branch manager.. quote: "when approached(by CourierMail) the former bank manager refused to comment on the allegations.. . .after millions of dollars were lent to elderly pensioners for investment in the failed property scheme. . most of the loans were handled thru Wespac @ Pacific Fair. .a former manager personally secured loans for investors mainly thru Westpac . . but sometimes thru other brokers."   Who will you target next. . the family pet bequeathed an estate??? Ring Fence the lot of you & maybe experience how starving farm animals feel not being fed after liquidating their owner!!!! Pacific FairBranch / ATM Shop 61, Pacific Fair Shopping Centre, 2-30 Hooker BvdBroadbeach QLD 4218P | (07) 5595-6222...
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  • doyla66
    doyla66 says #
    I share your feelings on this. I was horrified at the cruelty to the elderly and to animals. I heard the former bank manager is n
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Posted by on in Fraudulent Loan Apps
Denise in SBS News :-) See the report here: 
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