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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: Why are Major Banks an accessory after the fact in Major Toxic Mortgage Crime Spree?

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Major Banks are asking the Australian Securities & Investment Commission to jail a few Brokers, without of course, investigating the Banksters' Engineering of the Service Calculator.  100% of Loan Application Forms have been tampered with after  the client's signature was obtained and without the knowledge or authority of the borrower.  Borrowers were only shown 3 pages to sign, yet 8 other pages were added to the document at a later date.  The borrower of course had no idea Major Fraud was taking place on Full Doc and Low Doc mortgages.

All mortgages in Australia were "approved" by Skippy the Computer..................its a  fact, confirmed by authorities.  

  • The Bankster Executives masterminded a computer program to fudge income figures after the LAF was signed by the borrower. 
  • The Service calculators were designed for Brokers to write in the exaggerated income onto the LAF so they could be blamed at a later date....if necessary.
  • NO LAFs copies were given the the borrower/client of the bank:  NONE across the nation.
  • NO Phone call was ever made by the bank to its client to VERIFY INCOME:  None - deliberately so as "Standard Industry Practice."
  • ASIC suggests because of de-regulation, they do not have to check what Banksters are doing - especially Major Banks that are running 85% of the TOXIC Loans we have found to date.

Banks demanded the loans be insured and charged around $4000 - $7000 premiums for a POLICY that became a secret and borrowers are prevented from seeing a copy.  Ditto the Valuations.

Banks use the Loan Mortgage Insurance to suggest they are helping you with hardship payments, but they then claim against the LMI, and the Insurers chase the borrower for the loss.  Nice one chaps!  Really nasty little sting there.

DEBT Recovery type businesses licensed with ASIC, are using tricks to run up more debt under the guise we will HELP you to become DEBT FREE."  That one even sounds like a big scam!  At the bottom of the Tank is  Bank adding tot he body count!

Dear Mr Banker:  "If as you say, you are the victim here...................which you and I know is a lie, why have you not reported EVERY LOAN written by every Bank Manager / bank officer (36%) and or every Broker (66%) to the FEDERAL POLICE and complain about wide spread looting of ordinary citizens homes?  Because your are the accessory to commit a crime or perhaps closer to the truth, YOU ARE THE ENGINEERS?"

"So you cannot report the Broker in case the calculator gives you away and you will be jailed?"

So why has DUMB ASIC not figured this out?  And, if they have figured this out in 2003, why did they allow so many ordinary Mums and Dads, branded by banks as ARIPs. to be stripped of their only asset, their home?

Oh I get it:  ASIC and the Bankers are the best of Mates and EDR's are there to look after those important Mates.

Yes well I am quite sure BFCSA Members are now fully informed as to how they were conned by the Banks.  WE all have a duty to report a crime and we are asking the Police Fraudies in each State to order extra boxes of hand-cuffs.  

Time for you to compensate the victims IN FULL.  Not just the piddly amounts your mates at FOS have been suggesting of late!!!!

If we are exaggerating, and only a few loans affected and no systemic issues why not do the right things and resolve the issue today?  Oh so the scam you created is too big?  I see, and ASIC say that you have to keep quiet or people might say they are running a defective administration?  

Ah yes, of course, the Senators may catch have been naughty boys (and girl)

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PS Tomorrow we will explain what American courts have to say about their disenchantment with LMI scams by Banksters.  Yes same here..............

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  • doyla66
    doyla66 Saturday, 08 February 2014

    It is starting to show these blokes were not so smart

    Denise I fully agree with your explanation of how the process itself is starting to turn on our Banksters they are so clever they have in fact outsmarted themselves in an effort to cover their tracks. I have been through the FOS system now for just over twelve months and have got to a point where they have told us our case now just relies on proving we did in fact send the Bank 3 years of Taxation figures. Well that's where things changed, we could not prove even though we did as a matter of course actually hand the entire document stash to our Bank Manager. He of course denies ever being given them and our accountant knows she sent them but they don't keep the emails past a year to verify (probably something else our Banksters are aware of) they were sent. So it looked like our big moment to expose them big time had gone, then as we have all become major sleuths something dawned on me, my wife purchased her car only twelve months later. As our Investment Loan being LOW DOC didn't really require verification of income (not by taxation figures so stated by our FOS case manager) but the new loan being a VEHICLE/EQUIPMENT LOAN does. Now in the mean time between the two loans (both by WESTPAC) our Bank Manager had left the Bank and become a Broker, when I said to him so you will require the last 3 years figures and our up to date profit and loss, he said no we already have it from the Investment Loan. So the unique situation is this if they have used the figures supplied to them by our accountant and ourselves from the INVESTMENT LOAN ---------THEN THEY DO IN FACT EXIST AS WE HAD TOLD THEM --------- If they choose to say they did not use those figures then they have used NO FIGURES to APPROVE a loan which in fact its major requirement is the verification of income. Either way they have outsmarted themselves and they now know they are fighting a formidable opponent when they (the banksters) take on BFCSA Members. The eye for detail and the deduction process has changed for all of us I feel sure, Denise has given us all the tools to protect ourselves and I have even had friends and relations ask for lending advice, I tell them all that's easy don't use or trust a BLOODY BANK.

  • doyla66
    doyla66 Saturday, 08 February 2014

    They sure were cunning and had it worked out so brilliantly that their toxic scam would ultimately be directed onto the clueless broker.They didn't dream for one second that Denise was going to come along and unravel their perfect plot and leave them exposed for the world to see the crooks that they really are.

  • doyla66
    doyla66 Saturday, 08 February 2014

    No matter how smart they think they are they always trip up on something, usually in making the very big mistake that there is always somebody a lot smarter with far superior sleuth skills than any of them possess. Rather draining isn't it trying to figure out how vampires who work in blood banks really work for and how they operate? I think we all need to include mental toture and untold overtime to our complaint lists to balance things out in our favour!

  • doyla66
    doyla66 Saturday, 08 February 2014


    DB you make me giggle....
    Extra boxes of handcuffs needed.... YES and a brand new jail built just to house THE BANKSTERS and a special cell for GREGGY with calculators as the wall paper..... And all the bank logos printed on the toilet paper so they are reminded every time they go to the toilet why they are in jail......
    The banks, the banks, the banks!!!!!!
    Bring it on......

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