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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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Whistleblowers' Corner!

To all mortgage brokers, BDMs and loan approval officers! 
Pls Call Denise: 0401 642 344 

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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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Who permitted Banks to fleece the public and steal homes?  Who permitted Banks to use Broker Agents?  Time to dig deep and do some extensive reading............................ (APRA), “Report on Broker-originated Lending”, January 2003,   RESULTS OF A SURVEY OF AUTHORISED DEPOSIT-TAKING INSTITIONS, UNDERTAKEN BY THE AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY JANUARY 2003 Contact: Mr Anoulack Chanthivong, Credit Risk Consulting, Ph: (02) 9210 3050, Email: This email address is being protected from spambots. You need JavaScript enabled to view it..   EXECUTIVE SUMMARY This paper presents the results and analysis of a survey of Australian Authorised Deposit Taking Institutions (ADIs) into broker-originated lending, undertaken by the Australian Prudential Regulation Authority (APRA). The motivation for the survey is to provide an “official” estimate of the size of the broker-introduced loan market, as well as gauge common industry practices with the view to assisting ADIs in implementing best practice risk management. Our main findings are: • A total of 56 institutions use brokers to originate loans. This represents 25%...
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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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