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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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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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Subscribe to this list via RSS Blog posts tagged in APRA Loan Serviceability Wake Up
Basel Committee backs Murray inquiry’s recommendations Banking and Finance Date December 23, 2014 - 1:38PM   Shaun Drummond http://www.smh.com.au/business/banking-and-finance/basel-committee-backs-murray-inquiry8217s-recommendations-20141223-12ctbn.html   The global banking regulator is echoing the Murray inquiry's recommendation to set a limit on the amount banks can leverage their loan books.  The Switzerland-based Basel Committee on Banking Supervision released a consultation paper on Monday setting out options for a "capital floor" on the risk-weighted (RW) capital of banks that are allowed to set their own capital, based on internal risk modelling.  It also advocates a simple "leverage ratio" to work in conjunction with the RW floor. The Murray financial system inquiry's final report released earlier this month called for a risk-weighted capital floor of 25 to 30 per cent on mortgages written by Australia's big banks, which have all been granted so-called advanced accreditation allowing them to set their capital, as well as a leverage ratio. For several years,...
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  • Louie2U
    Louie2U says #
    This just proves how stupid these inquiries are, and we have had them one after the other by the bucket loads, into the financial
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Remember when APRA chief told the Senate Inquiry into Banking POST GFC August 2012 "no systemic issues in banking!"  So everyone waking up from slumberland are we?  I will notify the long suffering consumers caught in these diabolical frauds in the Banking Sector. Bring on the Royal Commission into Banking as the regulators are dragged screaming and kicking into the sunlight?  Am I being too harsh here?  Ask the overpaid Dr John Laker if he has lost his home? Wakey Wakey............................. http://www.smh.com.au/business/banking-and-finance/banking-regulator-gets-tough-on-home-loans-20140718-zubfv.html Banking regulator gets tough on home loans Banking and Finance Date  July 18, 2014 The financial regulator has taken its concerns about the housing market to the boardrooms of Australia's biggest banks, in recent months asking chairmen to spell out how boards were managing lending standards responsibly.  Wayne Byres, the new chairman of the Australian Prudential Regulation Authority, on Friday gave fresh details on how the regulator has sought...
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page 12 of APRA Annual Report - worried about Major Banks over loading customers with debt due to Banks' insatiable "appetite for risk."  Problem is the "appetite" was to take no risks and load consumers up with all risk and liability for their own financial demise.  (thanks Gladys - our intrepid researcher)  Aggrieved consumers of toxic bank products are desperate for Royal Commission into Bankers.  This email address is being protected from spambots. You need JavaScript enabled to view it.    APRA’S SUPERVISORY ACTIVITIES IN 2004/05   AUTHORISED DEPOSIT-TAKING INSTITUTIONS Authorised deposit-taking institutions (ADIs) continued to enjoy good financial health, with strong earnings, impaired assets at historical lows and capital ratios increasing in most areas.   This general picture has altered little over recent years, although the underlying credit environment has changed. In 2004/05, credit growth slowed overall and there was a significant shift in its composition away from housing lending, as housing markets cooled, in favour of business lending.   In this environment, interest margins came under further downward pressure. Competition...
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APRA worried about growth of high risk lending in Australia’s $1.3 trillion mortgage market   JEFF WHALLEY BANKING HERALD SUN MAY 26, 2014 8:27PM Qld Courier MAIL THE nation’s banking watchdog says it has witnessed “increasing evidence” of high-risk lending in the $1.3 trillion mortgage market as the scrap for market share intensifies in the face of low lending rates. The Australian Prudential Regulatory Authority has laid down the law to banks and other lenders with a series of new draft guidelines aimed at sharpening risk management. The Reserve Bank has maintained official interest rates at a historic low of 2.5 per cent since August last year. That’s created a hothouse atmosphere among banks which are fiercely competing to grab as much of the mortgage market as possible. “In this environment, APRA is seeing increasing evidence of lending with higher risk characteristics and it does not want this trend to continue,’’...
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  • doyla66
    doyla66 says #
    Interesting that there's a lot of competition for low doc clients when the interest rates are so low. The message must be getting
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Watchdog sounds warning on risky home loans DateMay 27, 2014 Read later Jacob Greber and Clancy Yeates  SMH Sydney Morning Heraldf Concerning trend: APRA chairman John Laker. Photo: Rob Homer The bank regulator has intensified its crackdown on risky lending, pushing back against a potential property ­bubble and increasing the Reserve Bank of Australia's capacity to keep interest rates at a record low. Concerned fierce competition for customers is driving down lending standards, the Australian Prudential Regulation Authority on Monday issued tough guidelines on how it expects banks to monitor and manage mortgage risks. This includes making banks consider geographic concentrations of risky loans; limits on loans relative to incomes; stress-testing borrowers; and avoiding giving managers financial incentives to make more loans. Analysts said the draft guidelines, which fall just short of the "macro­- prudential" rules adopted by regulators in New Zealand and Canada, mean the pace of growth in the mortgage...
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    doyla66 says #
    This includes making banks consider geographic concentrations of risky loans; limits on loans relative to incomes; stress-testing
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The RBA is expecting a property correction Posted by Houses and Holes in Australian Propertyat 10:58am on May 16, 2014 | 6 comments    Share on Facebook Share on TwitterShare on Reddit +   Cross-posted from Martin North’s DFA blog. In an address yesterday to the CITI Residential Housing Conference in Sydney, Luci Ellis, Head of Financial Stability Department at the Reserve Bank spoke about housing in the context of the financial system. Quite a bit of the speech covered aspects of relative population density, demand and supply. However, to towards the end of the speech, she spoke more broadly. I highlight some of the statements in bold. “Our low-density cities have developed out of a postwar vision of Australian cities, of detached houses on quarter-acre blocks. State and Federal War Service Homes programs were designed on that vision; planning regulation enforced it. As a mode of living, low-density suburbia has its advantages. But it does mean...
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