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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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Please watch: Credit Default Swaps Explained (in 108 secs)

Posted by on in From My Window
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A really excellent video on the topic explaining what happens with your loan and mortgage after it is signed and registered...

http://www.investopedia.com/video/play/credit-default-swaps/#axzz2ATETiAKM

 

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  • doyla66
    doyla66 Saturday, 27 October 2012

    Definition of 'Asset Backed Credit Default Swap - ABCDS'

    A credit default swap wherein the reference asset is an asset-backed security rather than a corporate credit instrument. The buyer of an asset backed credit default swap (ABCDS) is buying protection for defaults on asset-backed securities or tranches of securities, rather than protecting against the default of a particular issuer.


    Investopedia explains 'Asset Backed Credit Default Swap - ABCDS'

    Asset-backed credit default swaps are structured differently from other credit default swaps due to the nature of the instrument being hedged. For example, since many asset-backed securities amortize and pay monthly, the credit default swap will more closely match these features. The most widely used ABCDS transactions cover U.S. subprime mortgage tranches of mortgage securitizations.

    http://www.investopedia.com/terms/a/asset-backed-credit-default-swap.asp#axzz2ATETiAKM

  • doyla66
    doyla66 Saturday, 27 October 2012

    Definition of 'ABX index'

    A financial benchmark that measures the overall value of mortgages made to borrowers with subprime or weak credit. The ABX index uses credit default swap contracts to come up with an overall value and is made up of 20 bonds that is comprised of groups of subprime mortgages. Using this index, financial institutions are able to determine if the market for these securities are improving or worsening. Also referred to as Asset-Backed Securities Index.


    Investopedia explains 'ABX index'

    For example, if the ADX Index increases, this means there is less risk with subprime mortgages and vice versa. It was created by Markit and is useful for investors interested in subprime mortgages. Subprime mortgages being mortgages given to customers with faulty or weak credit.

    http://www.investopedia.com/terms/a/abx-index.asp#axzz2ATETiAKM

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