GLOBAL SUB-PRIME CRISIS

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BFCSA
MORTGAGE
DISTRESS SOS

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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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Subscribe to this list via RSS Blog posts tagged in BDM's taught Brokers
Narev: Brokers play a vital role in financial services       inShare by Julia Corderoy | 15 Aug 2014   The Commonwealth Bank of Australia’s market share of the mortgage world is huge, with the bank financing one in four home loans in Australia over the 2013/14 financial year. Brokers were behind 38% of the total home loan balance settled through the major lender during the year, which has increased slightly from the 37% share in the year to June 2013. Chief executive of CBA, Ian Narev told Australian Brokerbrokers play a vital role in the financial services industry.  “Brokers help our customers by offering expert opinions on decisions that are of great importance to them, particularly with home buying, but also in business lending as well. Our view is that brokers play an important part in the way many Australians want to deal with financial institutions, and our bank is happy to have solid...
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Members understand what this crime scene is all about.  They are ordinary Mums and Dads who did not deserve to be preyed upon by deceitful banks: One Member writes: Banks cultivated brokers but also saw them as disposable pawns and foot soldiers, like door to door salesmen, which is how they were behaving where we lived. Out hawking for business, the bigger ones out spruiking and touting at glossy property investment and wealth creation events. As I understand it the Credit Assessor (CA) can override the system if they wish. Thus any loans that are knocked back can be reviewed ("talk to us") according to the collection of Bank/BDM/Broker emails I've read. Banks & Lenders were vying for business, offering Brokers "incentives" to put more business their way. Brokers also knew which Banks & Lenders were being "generous" ie. lenient with lending rules and generous to Brokers, allowing more loans through...
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  • doyla66
    doyla66 says #
    Basically the huge amount of loans should never have been approved in the first place. Had the correct procedure been applied this
  • doyla66
    doyla66 says #
    I think they got more canny, of recent times. Just in case any pesky borrowers might be asking for their LAFs. Banks prevented ou
  • doyla66
    doyla66 says #
    Yes your are right in your assumption in regards to the Credit Assessor being able to over ride any imperfections for want of a be
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