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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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Hot topic of the week: Clawbacks Australian Broker News http://www.brokernews.com.au/news/breaking-news/clawbacks-not-okay-says-broker-185672.aspx#latest http://www.brokernews.com.au/news/breaking-news/hot-topic-of-the-week-clawbacks-185724.aspxby AB | 24 Mar 2014   Friday’s article on the unfairness of clawbacks attracted a huge amount of commentary from you in a short space of time, signalling intensity of broker feeling and highlighting the importance the industry should be placing on addressing the issue.Many interesting and constructive opinions were expressed; with the overwhelming response being clawbacks are unjust punishments on brokers for something they largely have no control over.“The banks simply eat brokers to the bones if they could,” said VIC Broker. “Of course it is UNFAIR! Brokers are only ones who suffer in the end.”Anne questioned what other professions apart from mortgage broking give a free marketing, sales and process operation. “It is manifestly unjust and would be deemed immoral for a large industry to expect unpaid workers to share the risk of what should be the cost of the lenders doing business.”Brett Perth said: “How professional...
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Our intrepid Researcher Gladys trundled through a 243 page report by Tony D'Aloisio "The ASIC Summer School Report" from ASIC 2011 School was in for the Industry Bandits.  Consumers not invited to attend......very neat fella's..............................Has anyone asked Greggie Medcraft what the default figures are right now?  Of course Greg,  we would like to compare defaults with 17% five years ago.   NB:  "Our Governments were not called upon to bail out our Banks".....yes Tony, that's because you and your successor and predecessors kept the banks covered-up, allowing the Mortgage Fraud Bank Scams to speed up to create mass damage to borrowers and with the ultimate intention of blaming the brokers and the borrowers and getting away with the Crime of the Century!   TONY D'ALOISIO CHAIRMAN - now former chair of Australian Securities and Investment Commission ("ASIC"). I am Tony D’Aloisio, the Chairman of ASIC...........on behalf of my fellow commissioners, Dr Peter...
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  • doyla66
    doyla66 says #
    Thanks Denise for painting a clearer picture for us all......... I am ready to read what next Gladys can dig up from her research
  • doyla66
    doyla66 says #
    So their cover is finally blown! Not the Mr. Fix-it Brigade we had all been deluded into thinking but they called in Whelan the W
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Dear members Its not long now before our day will come and we get to face the men responsible or should it be the irresponsible men who were supposed to be our protector and watchdog by making sure no consumer was taken advantage of. As Medcraft and Kell were first and second in charge they have,to take full responsibility for ASIC's failings over the last few years. Its unfortunate that Denise will have a time limit to get across as much information that's humanly possible in the one hour allocated. I'm sure Greggies minions have been devouring every bit of information concerning BFCSA from individual Senate submissions to blogs that get posted on this site. If and when Greggy takes the stand he will be well rehearsed in what the likely questions will be, his body language will be a give away though. He is one of these people who...
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  • doyla66
    doyla66 says #
    I agree - I suspect they are indeed all spooked Neil for surely they must realise we are not stupid enough to reveal all of our se
  • doyla66
    doyla66 says #
    Be Happy everyone. Like Ali and me live each day and enjoy it. You only live once. Don't panic about the things that you may los
  • doyla66
    doyla66 says #
    Danielle, I think the Senate hearings have ASIC, FOS and COSL spooked and they are trying to fast track their work load to try and
  • doyla66
    doyla66 says #
    I know what you mean about being scared of loosing everything. My days are also consumed every hour of every day working out in m
  • doyla66
    doyla66 says #
    Gfs and everyone else, we have also been playing this charade for over seven years. Its exactly one year ago that we thought we ha
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