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BFCSA
MORTGAGE
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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 Blog

Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.

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More from our Gladys: SUMMER SCHOOL ASIC 2009 Our program this year is very much focused  on the financial markets and this morning, we will focus on what went wrong and what we’ve learned...........the principals—taxpayers, shareholders, bond holders and so on—are being very badly let down by their agents— the regulators, supervisors, central banks in some cases (not here in Australia I hasten to add), treasuries, CEOs, Boards and so on............ there were many, many things going on over many, many years that basically led toincreased debt versus equity throughout the system........going back to the 1986 tax reform in the US, we also had the concession that allowed things like mortgage-backed conduits to become possible—where the entity wasn’t taxed and could operate like a ‘pass through’ certificate—which greatly encouraged the use of those conduits to make mortgages. They didn’t give that concession to equities and other assets, they gave it to...
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  • doyla66
    doyla66 says #
    Share market usually goes through a seasonal adjustment coming up to EOFY. For all the hype, most are adding to their private go
  • doyla66
    doyla66 says #
    So ANZ boss (and the rest of the Banksters) can go out and sell his shares for millions of dollars to buy his beach side estate, a
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 ASIC ONLY ANALYSED THREE BORROWERS?????   Refinancing was rife throughout the decade!!!!  ASIC had this info and did nothing against the LENDERS involved and KNEW they were using The Fudging Figures Program using a Fudging Machine: SERVICE CALCULATOR!  This email address is being protected from spambots. You need JavaScript enabled to view it. This report remained buried from public view............................No-one from Treasury read it!  Thanks to one of our top researchers.  Start digging into all ASIC Reports on Low Docs, Lending practices and Loan Defaults and mortgage stress and hardship.  Seven Banks involved.....yes we know All Members should be digging.....................................and reading and reading.........................what ASIC knew and when. ASIC REPORT 152  MAY 2009  1 This covered 15 lenders in total including 7 banks, 4 credit unions and friendly societies, and 4 non-banks. 2 The mortgage broker questionnaire was compiled with the assistance of the MFAA and sent to 9 brokers and broker groups, all members of the MFAA. 3 REP 119 Protecting wealth in the family home—An examination of refinancing in response to mortgage stress, March 2008,...
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  • doyla66
    doyla66 says #
    Declan Carnes ( BOQ Bank Manager) - infamous from BOQ North Ward - re Storm Financial and Doyle case with ASIC is due to be in Bri
  • Denise
    Denise says #
    Hi Kevin - none in Qld, one in SA and none in WA or TAS. Reason: NSW had Contract Review Act 1980 to protect consumers from UNJU
  • doyla66
    doyla66 says #
    Denise why is there not a huge history of success in WA like NSW as to mortgage fraud, The WASC and the WA SAT have virtually no h
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