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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: FOS please demand SERVICEABILITY CALCULATOR copy from, Aussie Banksters.

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Message to all FOS Case Managers and Investigators. Normally you people do a satisfactory job. However, if stupidity comes up then people will justifiably scream out. The Service Calculator was attached to the LAF and faxed from Broker to Bank. It was part of the documentation the Bankster relied upon to make poor judgement in lending, particularly Firstmac and duplicated en masse.

The Calculator is discoverable. FOS has powers to demand banks hand it over. Please use your powers and a big stick. Wander over to Kim Cannon's offices and demand he personally supplies all his hapless customers with a full set of Loan Application documents - the entire file,   including the serviceability calculator.


YES its an "internal document" but one which Brokers were appointed with powers to have access to and use.  The Brokers acted as Bank Officers in preparing this "internal document."  Don't side with the Banksters. Its not a good look. Customers have lost faith with the banks and its mates at ASIC..... BIG TIME!   We do not want a loss of faith in the External Dispute Resolution Services such as FOS and COSL.

No-one trusts the IDR services (banks managing their own Dracula..... and the blood bank) That assertion is evidenced by 700 new complaints per week pouring through FOS doors.   Its been going on for six months now.  Oh and another thing - do not condone the banks telling people to go after the Brokers or I shall pass another dose of trauma onto the regulators. The complaints to FOS are levelled directly at the Banksters.

The banks gave their agents and officers permission to pick up the Identification Verification docs, critical to approval AND they also gave the passwords and codes directly by email to the brokers. We have the Codes and Passwords if you would like a copy.   But the Banking Ombudsman knows that. These people are traumatised enough as it is.

In Greece decent people started throwing bricks through bank windows and now we know why!!!    Please, just get on with providing a better service to consumers. I for one will appreciate the effort.

The ingenious Serviceability Calculator was a creation by the banks to trick everyone.  No wonder all banksters have little or no appetite to hand it over.  YES we have some copies and that is why we know what it contains and the proof of skull-skulduggery contained therein.   Banksters cannot cover up a fraud and certainly not one whopper of a fraud of their own creation! 

The service calculator ("SCF") was ATTACHED to the Loan Application Form ("LAF") and emails prove the banks insisted on that protocol taking place!  The SCF is definitely discoverable as it forms a vital part of the file the Banksters relied upon to approve a loan that ought to have clearly been rejected x 100,000 LAFs.  What a con job! 

Banksters conned the Brokers to use the calculator, conned the borrowers into believing their strategy would work for them!  Now conning FOS, ASIC, APRA (Australian Regulators) and the PRIME MINISTER into pretending this is a mere dispute between custoerms and their banksters. 

Bankster are no longer conning BFCSA Members.  We are onto the scam and soon all will be revealed.   Time is Up for the Banksters.  FOS needs to get tough and start acting on the side of consumers.  Just ask each of the known 36 Lenders and the Major Banksters to hand over copy files to the customer and stop monkeying around.

Brokers acted as the Bankster agents.....deliberately so, in order for the Low Doc Sub Prime Loan Scan to proliferate here in Australia.

BTW: 10% of all loan crimes BFCSA has uncovered, show that the victims were coerced into loans arranged by Bank Managers and whose fraudulent FULL DOC LOANS were approved by those same credit assessors.  Never a Corporate Cop on the beat when you need one.

We also know that emails were sent from Sales Managers and Credit Managers to the Business Development Managers to send out to their Broker "Business Partners."  Partners in crime?  So who were the culprits higher than middle management that drove forward this terrible financial disaster on ordinary hard-working Australians in a massive bid to steal their homes?

Those who work at FOS, the Financial Ombudsman's Services.  you can in fact use your powers to break open the biggest bank heist this country has ever experienced.  Do not cover up the evidence as that would be counter productive to our aims. 

Just ask the Banksters for their copy of the Serviceability Calculator and all the jigsaw pieces will fall into place.  You have reached the coalface of discovery.  Don't stuff it up with dumb decision making.

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  • doyla66
    doyla66 Wednesday, 06 February 2013

    Agree with you Denise. FOS, PLEASE "Don't stuff it up with dumb decision making."

  • doyla66
    doyla66 Wednesday, 06 February 2013

    Also FOS, do the right thing by the victims - we did not break any law so why are we in this horrendous mess? You are the EDR's so please rectify this nightmare.

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