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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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E Mail to senators

Posted by on in NZ KIWI's Fight Back
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You will see below what I sent to your senators today. I don't expect a reply from them. I hope they watch the movies and read the Walker F. Todd affidavit

Dear Sirs,
First of all, greetings from New Zealand's Winterless North.
I only learned very recently of your enquiry, as a result of joining BFCSA. I am hoping to establish a New Zealand chapter very soon. i sat and watche the whole afternoon session from 3.30pm-7.00pm NZ time. I have to say that I found it time well spent.
I was most impressed with Senator Cameron's input and the remark to ASICK "You are shooting the wrong horse," was, in my view, the remark of the afternoon.
The 2 witnesses whose submissions really stood out were Denise Brailey's and that last one, Sean?
The 1+ ASICK representatives were pathetic, the second chair guy looked as though he was there just to make up the numbers and the professor was a bit too non forthcomin as to who financed him, for my liking. I found the "beg, borrow or steal" comment highly incredible. I find "follow the the money" or "find the source of the money" a good track with people like him, as with a lot of academics, and politicians too for that matter.
I went and Googled "Westpac NZ Lo Doc loans" after your show finished abd here are just 2 of what came up. Note the dates

Great news! Westpac offering low doc loans

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  1. 09-02-201102:40 PM #1
    Pegasus is offline Freshie
    Join Date
    Sep 2008

    Default Great news! Westpac offering low doc loans

    I wanted to let you all know that we were thrilled to get a loan application approved from Westpac last week on a lowdoc loan.

    We already had loans from other banks based on the equity in our own home so thought it would be difficult to get any more. We tried the lowdoc loan which asks for a declaration of your last years income only.

    So if self employed you don't have to provide financials.
    We have been offered loans up to 65% on the purchase of 2 rentals. One of those was 65% of the e valuation not the purchase price so came to more than 65%.

    This is all at current floating rates of aprox 6% and $400 fee (but getting $500 back for legal exp)

    We're so pleased at this outcome becos it means we can take advantage of the times and make some good purchases.

    If anyone wants the contact for the broker we used just Private Message me. He did a great job!
    Last edited by donna; 10-02-2011 at 12:04 PM. Reason: request to revise the post

Low Doc loan rates

Current as at 19 July 2012.

Low Doc loans

Rocket Repay Home Loan

Annual interest rate
LoanAnnual rateComparison rate 2
Rocket Repay - Low Doc 6.89% p.a. Show comparison rates

Rocket Investment Loan

Annual interest rate
LoanAnnual rateComparison rate 2
Rocket Investment - Low Doc 6.89% p.a. Show comparison rates

I wonder if any of you have ever watched, or heard of, the "Money As Debt" movies, "The Secret of OZ"movie and the Walker F. Todd affidavit. I am attaching a copy of the affidavit for your information.
You are really only scratching the surface of the banking scam with your enquiry. Have you ever wondered where the "money" comes from? I won't ramble on, I suggest, with respect, that you watch the movies (all are on the internet, just Google) and read the affidavit then you will REALLY get an idea of why the financial crisis happened and why it will continue. Australia will not escape, nor witll New Zealand.
Do you know who the majority shareholders are of your 4 biggest Australian Banks?
HSBC, JP Morgan, Citibank and National, whoever they are. Talk about incestuous. Check it out for yourselves if you don't believe and didn't know.
Well, that will do from me. I imagine you will be inundated with e mails as a result of yesterday. I do hope that you will do something to improve the situation for the PEOPLE that you supposedly represent. In one of the Money As Debt" movies the narrator says that the only reason that the banking/debt money scam continues is because GOVERNMENTS and BANKS are complicit. Here in New Zealand, we have just 1 party (NatLabUnitedFutureGreenACTMaoriNZFIRSTMana Party) in America they have the "Repubmocratic" or "Demopublican" Party depending on your point of view, with a bankster bought and paid for president.
Yours faithfully,
Geoff. Waterhouse

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  • doyla66
    doyla66 Thursday, 09 August 2012

    Great post Geoff, telling it as it is.
    Looking forward to hearing your feedback from them. :)

  • doyla66
    doyla66 Thursday, 09 August 2012

    Good on you, Geoff. Letting them know that New Zealand is paying attention to the Australian issues as well. Plenty of Lo Doc loans out there for the having.
    When you think about it, what happens to all the people with dodgy lo doc and no doc loans, now applying for refinances with the No Exit fees deal. Are they being rejected? If not there's a good chance that the imprudent borrowing practices would be the only way they could be refinanced... Wonder when they'll turn up at BFCSA?
    I'm trying to round up the internationals via Twitter - it's a big world out there ...

  • doyla66
    doyla66 Thursday, 09 August 2012

    Good one Geoff

  • doyla66
    doyla66 Thursday, 09 August 2012

    Welcome NZ let's do this together!

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