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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: Ex-Nun says "I have just a suspicion that ANZ has committed me unfairly to a mortgage..."

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A new comment is posted on the blog post:

BFCSA: "ASIC is only paying lip service...".... "The ANZ Bank has committed Fraud against me and my family..." http://www.bfcsa.com.au/index.php/entry/bfcsa-asic-is-only-paying-lip-service-to-the-australian-people

Below is a snippet from the comment that has been posted.

Robin Ruth Henderson - Posted on Thursday, December 12, 2013

At this stage I have just a suspicion that ANZ has committed me unfairly to a mortgage after reading an article online published in The Australian newspaper in May 2012...about a man who got a Lo Doc loan who was a deckhand and found he'd been described on the Loan Application Form for his Lo Doc Loan as a ship's captain on $150,000.00 per annum. He defaulted on his loan, went to court and was relieved of his mortgage.
For anyone else's information ...the woman who wrote the article that made me suspicious of my own situation is:

Denise Brailey who runs The Banking and Finance Consumers Support Association. She was dealing with at least 100 alleged victims of improper lending. She wrote:" This means that if you are a struggling homeowner and the bank comes knocking, you may well not have to hand over your keys."

The light went on for me after reading that. I am in search of a copy of my original Loan Application Form.
I asked the broker who acted for me and also the ANZ bank to no avail...apparently the information about me on that document as well as the document itself is property of the bank and I am told I would not have been given a copy originally...when asked WHY I wanted it. I said I'd lost all the documents pertaining to my mortgage..I detected reluctance to even discuss the Loan Application Form. "why should I not have a copy of everything/document that pertains to me?" was my opinion. Apparently it does not work like this. The document is property of the Bank. I may not have a copy.  So I appreciate the information about Genworth/GEMICO and QBE

I was talking to an ANZ officer discussing my commitments with ANZ re a Credit Card...she mentioned that it was listed on their system as having also "a business loan" with my house as collateral. That was news to me. I thought I had a Simplicity Plus Home Loan!

I've been a DSS customer since I became a civilian in 1973 at 30. I am an Ex Nun. I ran away from that on a Disability pension and very ill.  I've never been well enough to have a job and I lost my voice by a slip of the scalpel during a thyroidectomy in 1973. I left the convent unskilled and really traumatised. I am now 70 and have scraped together an old house to live in...Eventually I needed a mortgage. I supplemented the pension with artwork careful not to earn more than would not affect my pension ( my lifeline).

I now suspect that details of my income have been inflated on the original ANZ Loan Application Form and other "art" details as well. I obtained a Lo Doc mortgage, much to my surprise. I recall I was asked to get an ABN. The ANZ bank did a drive-by valuation on my property which I thought was strange even at the time...(I was requesting a debt consolidation refinance).

Now that I've read that newspaper article and have found this forum I am going looking.
Thanks BIO-77 for that info! I will follow up.'

Editor:  You are entitled to a copy as it contains your financial details and your signature.  If the bank refuse to give you the application document, join us and we will show you how it is This email address is being protected from spambots. You need JavaScript enabled to view it.

 

 

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  • doyla66
    doyla66 Thursday, 12 December 2013

    To The Editor from Ex Nun...I will join you, I need to know how to do this.... and what a great PIC, very appropriate......"Beware of false prophets (people embellishing the facts) these come to you as wolves in the night dressed up as sheep." (Bible - New Testament)

  • doyla66
    doyla66 Friday, 13 December 2013

    It would appear you have been caught in the web of deceit we all are totally familiar with. Keep pushing for the Loan Application Files.
    They will drag the process out for ever it seems, when in actual fact it is only a matter of copying a number of pages to send to you. Probably come up with every excuse under the sun. Good Luck hope all goes well.

  • doyla66
    doyla66 Friday, 13 December 2013

    Wish you all the best, Robin. You and I and we don't deserve this illegal conduct by former pillars of society, now chief suspects in wholesale fraud and organised crime.
    I've seen a similar situation recently: borrower provided detailed formal documentation regarding income, assets, in addition to discussing this in detail with broker. Instead of itemising all the income the largest part (on which the entire long depended) was put under "self disclosed income", apparently by the broker/originator. Of course the borrower didn't see that part prior to signing and even when she did, she didn't know what it meant in terms of banking/brokering. The broker/BDM jazzed up the borrower's occupation so their self-disclosed income would look believable. And, of course, no one in the Bank's credit assessment team checked the facts. Until it all fell over! What a mess! Terrible damage and impact on the poor borrower who has had her health and life wrecked by the abusive conduct of the Bank (Bank West/CBA), the negligence of ASIC staff (all documented - failed to investigate alleged fraud investment) and the negligent and misconduct by FOS staff, plus years of stress and shock. She is worn out, like so many in her situation, and looking forward to the Royal Commission into Banking and Finance, not to mention the Inquiry into ASIC Performance! (Non-performance!) The irresponsible conduct of lenders, politicians, regulators and law enforcement agencies has ruined so many lives.
    I know sometimes it's not easy to get past Bank intransigence, but once you have your LAF everything can change for you. It's worthwhile persisting. They're your documents.
    I wish you luck with your investigation and getting justice in this deceptive and unfair situation :)

  • doyla66
    doyla66 Friday, 13 December 2013

    Published on Sep 29, 2013 - MUST HEAR: THE BANKS ARE GEARING UP FOR THE COLLAPSE - Dave Hodges SGTreport.comĀ·460 videos Subscribe 39,784

    Dave also predicts a banking collapse is around the corner, "There IS a collapse that is coming. The banks have been preparing for it for over a year now. Go back to last year when the Seventh Circuit Court of Appeals ruled that when you deposit your money in a bank, that money belongs TO the bank, and they may do with it what they will." This isn't fear mongering, this is reality.

  • doyla66
    doyla66 Saturday, 14 December 2013

    What you suspect is unfortunately most likely correct Robin. Do whatever is needed to obtain a copy of your LAF for far better to know than not for tragically people only realise they have innocently become victims of the biggest SCAM of all time when they get into trouble. Makes one wonder why not on the ASIC controlled SCAM watch list with all the evidence ASIC have had for years and with so much more evidence unfolding daily! I am still in shock from my own experience and the more I learn about the experience of others (so many in even a worse state than I am) the more in disbelief I am that this has gone on yet is still being suppressed! They are all guilty, all involved up to their eyeballs, all conveniently blaming brokers and all still earning untold filthy lucre as they continue to play the game with a few amended rules! My lender was also ANZ - breakfree package - a re-finance - grossly inflated income - ABN provided - approval given on B/S minus my knowledge despite the signature showing on the form containing all the lies! Seems the only they bothered to check was if I had an ABN on the ASIC register yet I had been a customer for decades and still am a customer so - why did they not check what went through my accounts? I did not ever suspect that major banks were involved and thought the only issue I had was re valuations. Something had prevented my home selling for 15 long months while inferior houses close by were selling and for higher prices than the new lowly valuation done by the bank when I eventually lapsed into arrears - offered then as a free service to "assist with the sale" when I really thought they were being understanding! But they then refused to give me a copy of the new valuation, nor explain why so much lower than that done at the time of application which was much more in synch with the low end of the expected fair market value even in an unhealthy market! All I got was the usual verbal burble - property of the bank - done by independent valuer - no authority to access - not able to provide! Not the slightest bit interested in all the incorrect info. re my property I discovered doing my own research after smelling a rat on so many R/E and lender property database systems which included the VG system where a chunk of my land holding had mysteriously gone missing! Yet the more I badgered them the more evasive they became and then they really pulled the plug! Sent me the dreaded foreclosure letter 2 weeks earlier than they had advised just a few days earlier would be the next step if not able to produce a signed sale contract within 10 working days AFTER the auction date. No explanation of course re why when I called to protest so in utter panic I cancelled the auction and gave it away for a price even lower than the new lowly valuation figure I had been trying to dispute! Their bully tactics sure then worked on me making me now wonder who got the bonus! All I now do is pray the end game sees them collectively all end up on an island - ideally one called Alcatraz! From all I have learned over the past few months islands are all part of the game after all - game devised on one Jekyll and some of even have such a penchant for islands they buy them! And then there is VALEX - worth checking into if one does not already know what a few years ago became all part of the game!

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