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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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CommBank: CAN EVICT ~ create LowDoc 'execution warrant' out of thin-air

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"The Bankwest Job" ~methodology~


    

 

On 26 Oct, 2012 --out of the blue, CommBank marched out a letter en mass to it's beloved "[LowDoc] Investment Home Loan" customers, alerting them of a "name change" [without explanation] to the loan species in concert with impending 0.25% interest rate increase --effective 14 Dec, 2012 ["the ConnBank letter"] whilst maintaining a neutral position on commensurate "Investment Home Loans".

This action goes against the grain of "falling" interest rates, and if indeed genuine in nature [not] could have otherwise been more harmoniously achieved by executing a "neutral" bias towards the newly labelled "LowDoc Investment Home Loan" concurrent to last months "rates reductions" and/or "future" rate cuts expected.

So why [if applicable] did ConnBank choose to agitate their "valued" customer base by executing an inflammatory regime to achieve it's "changes" when commercial "best practice principals" would ordinarily dictate otherwise?

Conclusion [unequivocal] 

The ConnBank letter is both a cloaked de~facto "letter of offer" [refer to 'sales' line "...you may be eligible to apply for a full doc..."] and a "letter of subterfuge", encapsulating a sinister ulterior motive, that is, to "invite by agitation" all existing LowDoc~ers into willingly applying for a new ConnBank "FullDoc investment Home Loan", which requires the applicant to submit a new application and in doing so commits hari~kari / self execution, as it's ConnBank's intention to carry out a "new [under] valuation" upon which the following scenario [courtesy of Yoda] could "tragically" play out culminating in a "scorched earth" policy against the unaware "existing" LowDoc home loan borrower....as the banks are panicking over their criminal "bender" over last two decades running amok left right and centre....and have now taken up a strategy of bringing on LowDoc loan defaults sooner rather than later premised on BFCSA breathing down their hairy backs exposing the truth of their abhorrent unabated gross misconduct towards home owners/consumers....and are attempting to "clean~up" as many unaware LowDoc home loan customers and before they're enlightened to the fraudulent loan application form/process carried out with criminal intent by Connbank[+35 cartel cohorts] all being concurrently co-ordinated via command central, being -- Gadens Lawyers -- the common denominator ["the hub"] to the cartel's "racketeering" enterprise....and for the purposes of clarity, a racket is...

"an illegal business or scheme, usually run as part of organized crime. Engaging in a racket is called racketeering."[1] The RICO Act[US] allowed law enforcement to charge a person or group of people with racketeering, defined as committing multiple violations of certain varieties within a ten-year period. The purpose of the RICO Act was stated as "the elimination of the infiltration of organized crime and racketeering into legitimate organizations operating in interstate commerce".

Referring to the ConnBank letter, it states..."You may be eligible to apply for a full documentation loan...This will require a NEW APPLICATION to be submitted to the bank"

Yoda's ~ Scenario 1. 

....Hmmmm? this is not looking good .....a scenario 

Home PPR ["principal place of residence"] valued at $625k... with a Line of Credit 500k @ 80% LVR 
You put in your wages & life savings of $185K, so Line of Credit is only drawn down to $315K

Your feeling secure and in control....until

Bankster demands under the Mortgage "we want to revalue your home"

Bankster low ball revalues at $450k... [Note: this ConnBank criminal operation performed on some 1100+ (former) Bankwest "compliant" borrowers defrauded of their life savings]

....says changed T&C [Note: ConnBank holds power to change 'terms&conditions' unilaterally].... we can now / will only lend you a Line of Credit @ 70% LVR or $315k [only]

Bankster then steals YOUR life's savings when reduces Line of Credit to $315k

So your got no money, nothing in reserve ..... its only a matter of time before you loose your home..... 

F#$%&%# SCUMBAGS        [..... I say;  "x" squared  ] 

.....so should you leave your cash in your Line of Credit account??  [ConnBank prefers to take all your hard earned money then ensures bankruptcy so you cannot go after them for committing this dastardly 
.....is their Laws or consumer protection against this?
....unless you were looking to borrow more money .....banks have never previously sought new valuations on homes outa the blue

Blog Comment: "Letter of offer" If a ConnBank LowDoc client signs a NEW 'FullDoc' APPLICATION tantamount to signing one's "death (of home) warrant" --game, set, match ConnBank, the Bankwest Job x 1000's of unsuspecting compliant CBA LowDoc home loan customers.

Dastard ~ Origin:

mid 16th century (in the sense 'dull or stupid'): from dastard in the obsolete sense.... 'base coward'

The RICO Act  http://en.wikipedia.org/wiki/Racketeering ]

On October 15, 1970, the Racketeer Influenced and Corrupt Organizations Act (18 U.S.C. §§ 1961–1968), commonly referred to as the "RICO Act", became United States law. The RICO Act allowed law enforcement to charge a person or group of people with racketeering, defined as committing multiple violations of certain varieties within a ten-year period. The purpose of the RICO Act was stated as "the elimination of the infiltration of organized crime and racketeering into legitimate organizations operating in interstate commerce". S.Rep. No. 617, 91st Cong., 1st Sess. 76 (1968). However, the statute is sufficiently broad to encompassillegal activities relating to any enterprise affecting interstate or foreigncommerce.

Section 1961(10) of Title 18 provides that the Attorney General of the United States may designate any department or agency to conduct investigations authorized by the RICO statute and such department or agency may use the investigative provisions of the statute or the investigative power of such department or agency otherwise conferred by law. Absent a specific designation by the Attorney General, jurisdiction to conduct investigations for violations of 18 U.S.C. § 1962 lies with the agency having jurisdiction over the violations constituting the pattern of racketeering activity listed in 18 U.S.C. § 1961.[3]

In the U.S., civil racketeering laws are also used in federal and state courts. The National Federation of Independent Business challenged these civil laws in 2006 for being excessively abusive.[4]

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Comments

  • doyla66
    doyla66 Friday, 09 November 2012

    CBA working their way toward US style easy liquidations?

    Good post, Andy, and a timely warning for CBA's GFC 2. Watch all the others try the same.Thick as bricks and so damn obvious.

    Push up interest, spill out defaulters, fewer devalued properties on their books, improves their LVR, bugger the Lo Doc borrowers: they're an embarrassment and make CBA and others look like liars at the Senate Inquiry!

    All Lo Doc borrowers thus affected should get into BFCSA site for the latest developments.
    Remember Banksters are like Scammers: so focused on their own interests and the money that they will miss the one very obvious fact:
    WE CAN ALL SEE VERY CLEARLY WHAT THEIR STRATEGY IS AND DEFEAT THEM THROUGH OUR LAWFUL AUSTRALIAN CONSUMER RIGHTS AND BY RAISING THE ALARM AND SHAMING THEM INTERNATIONALLY!

    Well at least we know who caused the Bank West rape and pillage of Australian businesses, regional communities, employees, contractors, families. The fall out was massive. Nothing much has changed about CBA since the 1990s. Corrupt thieves who will steal the shirts off the backs of farmers and any Australian they can catch, just for their own ends. GREED GREED GREED. DUMB CBA BASTARDS. GOTCHA.

    ROYAL COMMISSION INTO BANKING - WIDE TERMS OF REFERENCE

  • doyla66
    doyla66 Saturday, 10 November 2012

    Andy, your conclusion is 100% spot on. Yoda is also correct with his example. We also got the letter from CONNBANK. We also got phone call from CONNBANK lady asking us to confirm our incomes in writing. WHY? So they can entrap us into giving them the necessary information to seal our family home! Do NOT fall for their deceitful entrapment.

  • doyla66
    doyla66 Saturday, 10 November 2012

    ...I sense a movement on the Dark side of the Force.....the banking monoliths are stiring slowly.....CONNBANK in relation to is Storm Financial exposure...bANZai Bank just unloaded its Origin biz....Worstpac & NAByourmoney are crunching numbers & ready to move....BOQ is undertaking a Banzai charge or banzai attack, a last, desperate military charge with its Storm defense........
    ..a Tsunami of bad new & revelations is building out to sea small it may be ......but as it approaches shore......

    http://www.public-republic.net/wp-content/uploads/2009/12/Tsunami-in-N.Y..jpg

    bANZai skydive, the act of throwing a parachute out of a plane ( mortgage 4 life )and trying to catch up to it mid fall (keeping up the payments), put it on ( keep up with ever-changing T&C interest rates ), and deploy it before hitting the ground(before Bankster repossess it & sells you up)

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