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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: CBA & Pepper Home Loans structured guide to laundering GE disaster loans October 2012

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CBA have created The Structured Finance : Investor Guide.  Remember this is a GUIDE into the Tumbling Loans Affair.

But we love reading the fine-print and as usual Fitch gives the product a clean bill of health.  Everything appears to be utterly safe and positive for investors.

Yet this document could later become famous for the omissions.  On Page 12 it explains: "Pepper Homeloans was established in March 2001 as a specialist provider of loans to borrowers who are unable to borrow from traditional lenders."

That's hankie-bankie-speak for spruiking ARIPs: "Asset Rich and Income Poor" and then leaving the vulnerable customers a lot poorer and without a home bankster style.

Yes we know it sources its business from GE Money, Challenger, Advantege, Columbus Capital, Seiza Capital (as in seiza your home) and a host of other vehicles, peddling mass Low Doc Loans and spruiking pensioners and low income families in order for these establishments to make a "less than honest" quid.

How can we say such things?  Because its true in substance and true in fact and they know our files are bulging with these loan disasters.  Peppers of course state that only around 9% of these investment RMBS tranches are Low Docs.

Quite simply our Members do not believe that to be true as the rest is not even close to the truth.  As the sordid consequences of the US meltdown of Mortgage Securitisation becomes a major growth industry, we should all be awake up now as to what lies ahead.  Hmmmm LIES springs to mind.  I digress.  

This document was released 31st October 2012.  No-one has spotted the fraud as yet?  Well not surprising as ASIC allow these juicy documents to float like confetti over our market place.

And who is our regulator in charge of financial products and services?  Australian Securities and Investment Commission ("ASIC"). They cannot find any evidence of foul play.  So how about asking BFCSA Members for a few documents?  What's that?   Your Chief Greg Medcraft cannot find evidence?"  

Now we all know that our Regulatory Capitaine has no idea where to look for fraud, is unable to read a complicated document and thinks GE Money are nice chaps from the US who wouldn't harm a fly....they harm people instead.   Greg also thinks Peppers are something you sizzle with a great juicy steak.

So just who is reading this document besides our learner members on "L" Plates?  Well we sincerely hope its not "investors."  But if our readers are thinking of getting themselves a Mortgage Loan shortly....perhaps you should dump the idea and wait until after the Pepper Bubble Bursts

These vehicles cannot fly for two much longer with such a dead weight strapped to their underbelly.  Better block off your chimneys!

No way would you wish a flying RMBS to land and flatten yer Christmas Pud!

This email address is being protected from spambots. You need JavaScript enabled to view it.

Ye the old GEL Portfolio purchased by Pepper in August 2011.

http://www.commbank.com.au/corporate/research/restricted/structured-finance/investor-guides/2012/311012-PepperPrime.pdf


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  • doyla66
    doyla66 Monday, 17 December 2012

    A quote from the American Banker’s association 1924 "Capital must protect itself in every possible way, both by combination and legislation. Debts must be collected, mortgages foreclosed as rapidly as possible. When, through the process of law, the common people lose their homes, they will become more docile and more easily governed through the strong arm of government applied by a central power of wealth under leading financiers. These truths are well known among our principal men who are now engaged in forming an imperialism to govern the world. By dividing the voter through the political party system, we can get them to expend their energies in fighting for questions of no importance. It is thus by discreet action we can secure for ourselves that which has been so well planned and so successfully accomplished."

  • doyla66
    doyla66 Tuesday, 18 December 2012

    That sounds just how a greedy dictatorship of banksters would act!
    Imperialistm? Nah - that just hides more of the "greed is good" creed, a'la Wall Street diatribe.

  • doyla66
    doyla66 Tuesday, 18 December 2012

    My God. This quote sounds like it was taken from the manuals of Nazi 'how to rule the world book.'
    It is a good insight to how the psychopathic minds of these bankers think.
    Maybe their next plan is to have us all gassed like the victims at Auschwitz, so they can take our homes, land & gold.
    Oh wait, the Nazis have already done that, after killing millions of people & stealing their property - then hiding away their loot in Swiss banks who laundered it for them!
    We must not let history repeat itself.

  • doyla66
    doyla66 Tuesday, 18 December 2012

    WTF 41% of the loans are defaulting or in default!!!!


    http://bfcsa.com.au/images/easyblog_images/373/images/peppers.jpg

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