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BFCSA
MORTGAGE
DISTRESS SOS

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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: Old Time Bank Manager horrified at today's Banksters.

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One of our Members writes: Thanks Denise, I remember my father giving us quite a few Commonwealth Bank money boxes. You see, he was an old school bank manager. He enabled a sense of pride in those money boxes we worked hard to fill.  He taught us that working hard, saving hard and not living beyond your means were great strengths to have.

He used to say with pride that he knew every customer by name and joined many socially via the tennis or cricket clubs in our town. He says the bank started to lose its soul when the decision to centralise operations through the 70's and 80's, so he decided to hang up his pen and pad (he never used a calculator and at 80, still relishes mental arithmetic) and laments that the bank let things 'get out of hand' He reckons the big bonuses to execs should stop, besides he never had them and that didn't stop him from offering great service with a smile. By the way he's a bit peeved that his daughter can't get her LAF because 'loans can be written over the phone', 'we can't see anything on your file', 'your file's empty', 'you'll have to get it from the branch', 'the bank might decide it is an internal document and decide to keep it' and 'tell her it's an internal document' and 'keep it simple' Oops! wasn't supposed to see the last insert on the bank's screen! Karma will have its day..

Thanks Sue for sharing this gem of a story.  Bank Managers became Banksters when bonuses and commissions were handed out.  Banks can only turn a profit now if they can cover the HUGE EXPENDITURE of the risky products, the BROKER CHANNEL and the massive BONUSES to Bank Executive Crooks.

The "Internal Documents" are discoverable as they were ATTACHED to the LAF!!  Without the Service Calculator and Income Calculator Worksheet ("ICW") the loan could not be approved under Bank Policy.  The Banking Ombudsman FOS, needs to get better legal advice or suffer the same consequence as anyone else; total collapse!  FOS must desist at protecting Banksters and stop making limp excuses for their behaviour.  The reason they will not hand over the Service Calculator Form is because it will reveal the Master Plan to steal homes....its is the Achillies Heel for Banks and BFCSA Members are onto them.

It seems Honesty in Banking went out the proverbial window in mid 1980's when DEREGULATION became the norm.  Deregulation meant politically "Denude every citizen of their home.  Shaft everyone that trusts you!"  Remember the old timers who lost homes during the depression, thanks to GOLDMAN SACHS?  The next generation knew poverty like no other time, yet they remembered the warning: NEVER TRUST THE BANKS.  But then there was Glass Steagall Act 1933 in America.  Two Senators named Glass and Steagall.....we salute you two.  You saw the Bankster Fraud and were horrified and had the balls to speak out and drive reforms against the banks.  Australia copied tight regulations and legislative mechanisms to safeguard our population from ever suffering such indignities every again.  

We Aussies enjoyed 53 years of peaceful decent banking.....until 1986.  Then WHACK!  Thatcherism and Reaganism caused the Savings and Loans debacle in the United States.  It caused huge problems across Europe.  We aussies who pride ourselves in being different, and thanks to Keating & Co, we copied Margaret Thatcher's own greedy ambitions.  

The dawning of a new era: DEREGULATION OF BANKS and the inevitable consequence of LOST HOMES, misery and poverty for generations to come.  A Blueprint for a 27 year free-for-all for Criminal Banksters to grab obscene wealth and opulence 

How many children thrown into the streets and a never ending chain of "new schools" has it taken to provide one Bankster with two Mansions each?

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  • doyla66
    doyla66 Tuesday, 16 April 2013

    Yes 1979 was probably the first time we were taken advantage of by a bank manager. He would have been getting close to retirment. He relocated to another branch about 12 months after his trickery and I believe not to long after. His crime was getting us to sign a blank motgage doc. We trusted this chap as he had been our manager for 9 years. He was a good drinker andwas well known for this. He must have forgotten to file the mortgage for whatever reason. The mortgage was finally filed in 1985 some t odd years after his death. We only found this o ut in 2012. This was the first time we had ever sighted thed doc. There were mistakes on the doc including our address which was a previous address some 15years prior to lodgment. The occupation indicated was also out of date by the same time frame. Not sure what the go was with the errors but regardless it was apparently legal.

  • doyla66
    doyla66 Tuesday, 16 April 2013

    How can fraud be "legal" for banks but not for other businesses?

  • doyla66
    doyla66 Tuesday, 16 April 2013

    How many "mistakes" can be made on a loan/mortgage before they stop being just mistakes and start to look like this was actually intentional for the purpose of gain ie. fraud?
    Anyone else commits fraud ... banks have "bank fraud", "loan fraud", "fraudulent conduct", etc ... I get the impression that this makes the fraud somehow different, like it's not real fraud. Next we'll have blue collar fraud and white collar, political fraud and citizen fraud, business fraud and individual fraud and so on ... and sometimes the law can be really silly.
    It appears something similar has happened to the FOS definition of "unconscionable" lending. One of my cases was unconscionable lending according to my legal advice in 2011. Now it seems that unconscionable means something different: acting against the conscience of the lender. That assumes:
    a. the lender has a conscience (!!)
    b. someone other than the lender did the lending or some other action under examination.
    It does my head in to try to figure this one out.
    What ever happened to "unconscionable" in the real sense: an action that a broad selection of ordinary Australians would consider totally unacceptable or seriously unAustralian.
    When words are redefined to deny ordinary people justice there is something really wrong with the system.

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