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BFCSA
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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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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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BFCSA: UK Mortgage Fraud - Britain Blames the Consumer

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The problem for British victims of Mortgage Fraud is their needs are being "looked after" by the Bankster Mates at the FSA.   A conflict of Interest going back to Guy Fawkes.  Perhaps Guy had the right idea.    Regulators in the UK discovered widespread  mortgage fraud by checking tax returns with Loan Applications.  Yet no-one it seems has worked out its the Banksters as the Engineers.  No UK Politician wanted to discover that fact.  Brits need to wake up: This was reported in 2009, the first time around.  Unfortunately, the UK does not have a BFCSA nor any consumer support agency.  Online forms were tampered with - of course they were!  You have all been fried like fish and chips!

Mortgage Fraud on the Rise in the UK

Mortgage fraud in the United Kingdom has increased steadily over the last few years, possibly in response to tighter lending criteria and a troubled economy. According to financial reporting company Experian, the trend continues to grow. Experian reports 39 of every 10,000 mortgage applications were fraudulent in the second quarter of 2012. That’s a 23 percent increase from 2011.

Nor is the situation a recent development. Statistics from 2011 reported an even greater increase in mortgage fraud, with cases up 77 percent from 2010. Mortgage fraud has become commonplace – and  is likely to continue into the future.

Income Inflation

The majority of fraud cases involved applications where people inflated their incomes to secure the loan. In many cases, the applicants didn't see the harm, and they were simply desperate to meet the lender’s mortgage criteria. Knowingly providing inaccurate information, however, is a criminal act. Those who are caught risk more than a rejected loan application.

Just under a quarter of fraud cases involved people trying to hide bad credit, while in approximately 20 percent of cases applicants provided misleading employment information. This year, we’ve also seen an increase in people giving fraudulent property use information, such as applying for a residential mortgage when they intend to rent the property.

Fraudulent Documents

Mortgage lenders have also seen a rise in falsified documents, a serious crime that carries hefty penalties. The documents falsified most often pertain to identification or evidence of income. The increase in falsified documents stems, in part, from online “services” that provide fake paperwork to loan applicants.

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  • doyla66
    doyla66 Monday, 01 April 2013

    People all over the world are waking up to the Banksters tricks and say enough is enough. We don't believe you any more! You don't care about us. The gig is up Banksters.

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Guest Saturday, 14 December 2019