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BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.

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BFCSA: BIG WIN for long suffering consumers of Fraudulent Sub Prime Mortgage Loans. BIG LOSS for NAB and all Major Banks

Posted by on in ROYAL COMMISSION URGENT
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BIG WIN FOR LONG SUFFERING CONSUMERS OF SUB PRIME FRAUDULENT MORTGAGE LOANS. 

 

MAJOR BANKS will be brought to account!  Malcolm Turnbull said no need for Royal Commission................he was so wrong.

 

Victorian Court of Appeal slam dunks NAB Bank for UNVERIFIED, UNSUSTAINABLE, UNAFFORDABLE Lending Practices.  I suggest you start lining up for compensation.

 

HUGE NEWS for CONSUMERS OF DUD Mortgages:  Banks have suffered huge loss of significant case in Victorian Ct of Appeal  (original case was NAB vs RICE – and RICE won)  NAB appealed and this time ROSE responded)  RICE and ROSE are partners in the deal.

 

Our BFCSA Lawyer just advised: "This is huge. All the cases where the bank didn’t VERIFY the LAF must now be investigated and compensated properly."

 

ASIC IGNORED SOME 400 CASES re our members.   Now, I intend to  send a memo to Greggie Medcraft, and Peter Kell and copy to a couple Senators like this:

 

Now that the Court of Appeal in Victoria has confirmed that the Banking Code of Practice provides contractual warranties, such as article 25, that the bank won’t lend you more than you can afford to repay, we imagine you will be keen to follow up the 400 cases of falsified loan application forms BFCSA Members sent to you in 2012 that the banks obviously did not verify incomes and affordability. In the meantime, we will reassemble all the other members for the next round.

 

DB

 

http://www.austlii.edu.au/au/cases/vic/VSCA/2016/169.html

 

 

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Guest Thursday, 23 January 2020