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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 Urgent Warning re TOXIC MORTGAGES - fudged incomes by Banks' Secret Service Calculators

Posted by on in Sub Prime Loan Scandal
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Yes Jon: remarkable that ASIC has taken NO action against culprit Major Banker engineers who invented toxic products such as LOW DOCs and now FULL Docs and that only 9 brokers when 100% of LAFs we have uncovered (ooo's) are fraudulent.  No mention of RISKS in borrowing against your home for "investment."  

These UGLY and deceptive financial strategies are bank engineered, bank driven and no-one is telling the applicant of risks and the truth relating to FRAUDULENT ASSESSMENTS.

  1. No mention that 100% of Loan application forms have been tampered with after signing
  2. No mention of Risks of losing both homes - your own and the investment..............
  3. No mention of being wiped out in FIVE YEARS on a 30 year loan - AS PLANNED FOR YOU BY Banksters
  4. No mention of income figures being fudged after signature obtained and without knowledge or consent
  5. No mention of service calculator manipulation INSIDE THE BANKS.  
  6. No mention of the banks being the engineers of the SERVICE CALCULATOR automatic fudging machine.  
  7. No mention that 18% of LAFs are tampered with on FULL DOCS LOANS
  8. No mention that 36% of all loans are written by Bank Managers and bank staff - no broker involved!
  9. No mention that non of the mortgagors received a copy of the LAF at point of signing (all 40 page FAX not 3 pages lenders send out 5 years after signing). TO STOP FRAUD OF ANY SORT!!!
  10. No mention of Bank LOGO ON emails from BDM's to all Brokers: "Good News you can now do ABN's for a day"
  11. No mention of complaints on same model of Bank Fraud being used POST NCCP.  We have the evidence.
  12. No warnings to consumers to demand COPY OF LAF AT SIGNING "because bank staff encouraged to alter the document"
  13. No warnings to brokers they are being set up to go to jail.
  14. No suggestions of nailing and jailing a LENDER ENGINEER
  15. No warning that ASIC does not investigate consumer complaints and does not care a fig about consumers
  16. No warning the Loan Mortgage Insurance is rigged like a sure-bet horserace - and the premium another scam.
  17. No warning COSL just follows ASIC and protects non bank lenders.
  18. No warning that FOS has been captured by Banksters and they receive $5000 from bank if you complain.
  19. No warning that Identification Verification Sta Dec signed by brokers makes them the Agent of the Bank - well Judge in SCHMIDT recognised that Broker can never be acting for best interests of consumer......
  20. No mention the servie calculator states DO NOT SHOW TO BORROWER (advice from bank to its agent broker.

MR BOURIS:  How come you never warned the above on ACA last night?  Mr Symonds ditto........................

Aussie and Yellow Brick Road following same model?  Recruiting the hapless innocent brokers?  Thought so.

JUST THE USUAL COVER UP: Truth to Consumers buried under Mortgage Scandal

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Comments

  • doyla66
    doyla66 Friday, 07 March 2014

    Are us plebs smarter than the Pollies, ASIC, COSL and FOS all put together

    How come we can see the evidence of Bank Maladministration and FRAUD so can some lawyers some pollies and even some judges but all the big boys up the top cant. Does that make us plebs smarter than the PRIME MINISTER, THE TREASURER, Mr Medcraft, The Chief of Police, The Chief of the Federal Police and Mr David Murray heading up the ROOT and BRANCH Investigation into Banks and Finance because it sticks out like DOGS BALLS and they still cant find it.

  • doyla66
    doyla66 Friday, 07 March 2014

    Straight from the horses mouth... CBA wants Mortgage Brokers to keep pumping up the volume.. if brokers can't write millions of dollars of new business for CBA, within the set six months time frame CBA sets they do not want to know you (you're fired!) ... Brokers usually encourage/ steer the victims to CBA..

    So this horse bolted to greener and unrigged pastures... CBA owns 80% of Aussie Home Loans... don't be fooled new home loan borrower, be smart, shop around or there will be no saving you in 5 years or so when your loan inevitably implodes and you are left homeless as a result....with the bank holding your house keys!

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