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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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Subscribe to this list via RSS Blog posts tagged in Banks give APRA fudged figures
http://www.afr.com/f/free/blogs/christopher_joye/big_banks_may_need_more_capital_T6oXX7XL6wyoNp4J7SHFjL Big banks may need $41b more capital, UBS says PUBLISHED: 11 Sep 2014 10:30:55 | UPDATED: 12 Sep 2014 10:08:54 Christopher Joye   Karen Maley | Big banks at risk of ratings downgrade UBS’s top-ranked bank research team have almost doubled their estimates of the amount of capital Australia’s major banks may have to raise in response to David Murray’s financial system inquiry, from $23 billion to $41.1 billion. In a new report, UBS say that “given Australia’s unique situation as a small, commodity-based economy heavily reliant on foreign capital, with a very concentrated banking system, David Murray is likely to err on the side of caution. “We believe this means both higher mortgage risk weights and [capital] buffers despite the majors’ vehement objections.” Australia’s four major banks are pushing aggressively to avoid any increase in their core equity capital, which would immediately lower their leverage and world-beating returns on...
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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 warns of spread of high risk loans - Macrobusiness Posted by Houses and Holes in Australian banks, Featured Articleat 1:07pm on May 26, 2014 | 9 comments       The Australian Prudential Regulatory Authority today (APRA) today declared that: APRA Chairman Dr John Laker says credit standards in residential mortgage lending have been a major focus of APRA’s prudential supervision of ADIs, particularly in the current environment of strong pricing pressures in some housing markets and very active competition between lenders. ‘In this environment, APRA is seeing increasing evidence of lending with higher risk characteristics and it does not want this trend to continue. The draft prudential practice guide reinforces the importance of maintaining prudent lending standards when competitive pressures may tempt otherwise’, Dr Laker said. In response to the problem, APRA released not a comprehensive framework for macroprudential policy, but rather, a piece of paper, summarised below by Martin North’s DFA blog:...
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  • doyla66
    doyla66 says #
    Good article. But until the Credit Laws are enforced in an efficient and timely way, the system won't produce truly prudent lendi
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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
    doyla66 says #
    This includes making banks consider geographic concentrations of risky loans; limits on loans relative to incomes; stress-testing
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Now the true warnings are about to appear on mass as everyone ducks for cover.  APRA has just woken up as to how Mortgage Fraud invades and destroys economies around the globe.  Welcome to the real world Mr Laker and the new guy.  Its been under your noses for 14 years..........Will you then say like American regulators: "we did not see this (GFC) coming?   BFCSA kept sending out warnings backed by the date.  ADI's is a fancy name for Major Banks. These APRA figures have been ditto back 10 years!!!!  97% LVR loans and also INTEREST ONLY LOANS to ARIP's.   Australian Regulators have been in SNOOZEVILLE for their ten year slumber party.  Where does APRA get its figures from?  THE BANKS of course.  Then Naylor blurts out that regulators are certainly aware of these issues.  Yes Phil and you were guilty of same covering up of true situation but...
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  • doyla66
    doyla66 says #
    Oh thankyou Mr Kusher. It brings me a great deal of comfort to know that “These mortgages are typically insured". What a relief
  • doyla66
    doyla66 says #
    Thanks to ASIC the Aussie dream of home ownership has been decimated - no longer called rags to riches and eventual security but a
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Thanks Simba:  Your comment deserves a BLOG.  Thanks for your contribution.   This email address is being protected from spambots. You need JavaScript enabled to view it. APRA the Regulator  says...... www.apra.gov.au/Speeches/NewDocLib2/04-Chart-Acctnts-MN-20-Jun-07.pdf Recent court decisions relating to residential mortgage lending emphasize that residential mortgage lenders must assess the ability of the loan applicant to repay the loan and must not be concerned solely with whether the value of the security property is adequate to repay the debt. The decisions also indicate that lenders should not entirely accept the information provided by loan applicants at face value, especially if other information or common sense suggests otherwise. Ed: We kept telling Dumb ASIC this.  The valuations are irrelevant.  S 25.1 of the Bankers Code has been breached on more than 100,000 mortgages according to our research....it follows that....etc. It is APRA’s view that attention by ADIs (Austn Deposit-taking Institutions) to the requirements in the prudential standards to have prudent lending practices, including effective assessment of a loan...
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  • Denise
    Denise says #
    Premeditated Plot by Evil Bankers - spot on POLLY! These were no loopholes in law but blatant devious ways to break the myriad o
  • doyla66
    doyla66 says #
    I hope so NT.... I pray every day & every night as it is the last thing i think of before I close my eyes. I really hope so. I dre
  • doyla66
    doyla66 says #
    Gfs hopefully the Senate. hearings next week will be the start of better things to come.
  • doyla66
    doyla66 says #
    Only when a premeditated plot to deceive is used can you ever attempt to get around well written laws. So Neil as you say you are
  • doyla66
    doyla66 says #
    Funny It's good to laugh My husband has made me laugh all day cause he can see what this is doing to me. Just gotta keep going, It
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Fudging Figures became a way of doing business for Australian Bankers.  Bankers must think we all believe in the tooth fairy!  This week the ABA suggested the Senate Inquiry into the Federal Regulator, the wickedly lazy Australian Securities and Investment Commission, means there is no reason to suspect Bankers bad habits are under any cloud of suspicions regarding mega-fraud capers.  Do you believe the gall of these arrogant species of humanoids? ASIC will now be on the nose for NOT LOOKING INTO THE BANKS and, their increasingly tarnished image will be a right royal headache for its defunct media department.  Peter Kell, the master of attacks of the "will-bees"  (we will be doing something later this century) admitted this week that one of the minor problems they have is a rampant loss of staff.  He rationalised that just because a whistleblower blew a trumpet or two into the top floor windows...
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  • doyla66
    doyla66 says #
    New South Wales, Crimes Act 1900 section (316), concealing serious indictable offences. I hope the Senate will look into cases wh
  • doyla66
    doyla66 says #
    We must be the laughing stock of the world with our regulators. Fancy giving the banks a call to arrange a meeting, more like coff
  • doyla66
    doyla66 says #
    Caesar judging Caesar.........(1557 – 18 April 1636) . We haven't progressed much have we?
  • doyla66
    doyla66 says #
    The Regulators' cosy arrangements with their banker mates is disgraceful and worthy of a Royal Commission into Banking. However w
  • doyla66
    doyla66 says #
    "Porker of the Month": "FOA's"--"Friends of Angelo": Bank$ter programs of pollies covertly receiving "cheap-loans" for "favours",
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