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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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CBA chased victims for money yet processed fraudulent mortgageloans   http://www.yourlifechoices.com.au/news/cba-chased-victims-for-money    117 COMMENTS Debbie McTaggart   The implication of Commonwealth Bank staff in a $100 million fraud was allegedly ignored by the banking giant, which instead decided to chase the victims for the return of the funds.   Bill Jordanou and Robert Zaia of Victorian accounting firm, Zaia Arthur & Associates and three associates were charged last month with numerous counts of fraud and financial deception. All the accused ran an alleged decade-long scam, falsifying loan documents and is believed to amount to over $100 million. The money from the fraudulent loan applications was used to fund the lavish lifestyles of those involved and to keep up repayments on the original fraudulent loans.   The Victorian fraud squad commenced an investigation in 2011, after the CBA discovered that loans issued were supported by false documentation. However, it is believed that...
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Every wonder how much money banks are making on each credit card per year?  MEGABUCKS.  Time to stop the rot, but I can only do this with your assistance. If you are on a pension and have finished your working life with monstrous credit card debt....here is a BFCSA solution for you.............................. Dear Imprudent Banker CEO: Mrs Dxxxxx is 78 years old and lives alone.  As a lifetime worker she retired in 1999.   She exists on an aged pension and owns her own home.  She has been a loyal customer of Major Bank for some 52 years.  The only debt she has is a credit card debt of $14,000.  Had she had this small amount on a P & I mortgage the debt was extinguishable in the long term at a much reduced rate of pay.  The current credit card products has been designed as a “till death do us part,”...
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CBA execs grilled over Nguyen departure Friday, 11 April 2014 | Tim Stewart   http://www.investordaily.com.au/35340-cba-execs-grilled-over-nguyen-departure       Today's News Global players set to enter advice market AMP Capital departures spark ratings concern AVCAL lobbies for SIV expansion Converge with planners, accountants told Regulation hindering product innovation: ASFA Market neutral funds reduce volatility: Pengana     inShare   Senior CBA executives have faced questions about the removal of banned Commonwealth Financial Planning adviser Don Nguyen in July 2009. The publication of allegations about Mr Nguyen in InvestorDaily on 22 June 2009, one month before the Commonwealth FP decision to lodge a breach report with ASIC on 27 July 2009, was a major sticking point in a public hearing yesterday.  CBA group executive wealth management Annabel Spring, CBA general counsel/group executive corporate affairs David Cohen and CBA executive general manager wealth management advice Marianne Perkovic appeared before the Senate inquiry into the performance of ASIC in Canberra. Responding...
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  • doyla66
    doyla66 says #
    Caught red-handed yet promoted so he could fob off client complaints? If that does not reek of guilt and cover-up of gigantic pr
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Anyone listening to the Senate Inquiry into ASIC Performance today, would be forgiven for thinking: "we are listening to the same worn out excuses for non performance which consumers have had to suffer from ASIC hierarchy for more than a decade." Tanzer was the most pitiful, followed by Kell, and Medcraft was the icing on the cake.  After two years of Investigating LM investments, they have not been able to "conclude their inquires."  It's still ongoing and so was the endless twaddle coming from each member placed before the Senators. Kell left every answer to Kirk, and even he was challenged, stumbling on answers and then ending monologues with "I will take that on notice." As allegations of $10 million of wholesale products being sold to ordinary Mums and Dads, ASIC delivered a few more excuses, whilst Mr Medcraft kept muttering his dream words: "trust and confidence."  In your dreams Mr...
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  • doyla66
    doyla66 says #
    Did anyone pick this up during the Inquiry: KIRK: "One of the things we (ASIC) did towards the end of last year was to make sure t
  • doyla66
    doyla66 says #
    "greed of BIG END towners is good for consumers."....what!? So we should start preschoolers on a regular videos of Gordon Gecko an
  • doyla66
    doyla66 says #
    Great analysis Denise. I agree with Organza - we'd be laughing in the aisles if this weren't such a tragedy. The lack of depth in
  • doyla66
    doyla66 says #
    According to Asic, everyone is lying except them and what's this about talking in camera? us the public deserve to hear everything
  • doyla66
    doyla66 says #
    If not so very serious if would be laughable. Could not believe all I saw and heard re calculators class orders fraud systemic th
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Debt-plagued lender gets another reprieve       inShare by Calida Smylie | 08 Apr 2014  http://www.brokernews.com.au/news/breaking-news/debtplagued-lender-gets-another-reprieve-186256.aspx   Troubled non-bank lender Firstfolio has received yet another extension on the maturity date of its $30.3 million Commonwealth Bank senior debt facility.CBA had given the company until 7 April to comply with its loan covenants but has extended the deadline to 7 July, according to an ASX announcement.The company said it was considering alternative proposals from a number of parties.“CBA’s extension of the maturity date of its senior debt facility will allow Firstfolio time to progress these alternative transaction opportunities,” company secretary Dustine Pang said.Firstfolio reported a heavy loss of $300,000 for the six months to December, compared with a net profit of $1.8 million in the previous corresponding period.Revenue was down 3% to $37.5 million and the value of the loan book fell by 2% to $18.5 billion.Firstfolio has had trouble paying its $30.3...
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  • doyla66
    doyla66 says #
    It's definitely time to get out of the credit industry, if possible. Much safer watching the cannibalisation of companies and the
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Major Bank ramping up the bonuses to insider broker agents............more debt....................more loans......more misery.......Banks propping up hideous PONZI. Wait for Bubbles in property market to burst.   Its going to be very messy indeed.  Informant?  Little Birdie.....so Banks are desperately offering in house brokers big bucks. Major Banks will drift away from their external agents............................................. Problem with a PONZI - just like Bernie Madoff - you simply run out of people to financially ruin.  Can you hear the gurgle in the pipes?  These banks are unsustainable when promoting faulty products.  Have a look at potential domino effect on ASX..........serious stuff. This email address is being protected from spambots. You need JavaScript enabled to view it....
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  • doyla66
    doyla66 says #
    And if that incentive doesn't work, maybe Banks will advertise their fabulous introductory flexible fresh-as-a-daisy mortgage rate
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Ghosts of the Past will come back to haunt you Mr Narev - thousands of them........................BANK ON IT!  This email address is being protected from spambots. You need JavaScript enabled to view it. Another disturbing account from an elderly couple whom have signed our petition :- The Com Bank took our home, the committed Unconscionable Lending & are sweeping it under the mat...they stitched us up for $70.000 on top of the home loan, knowing we were on a pension & couldn't pay $2000 pm on a $330.000 loan..Mr Ian Narev..CEO of Com Bank you have no conscience. You ignore all my faxes & emails...I'm treated disgustingly when I ring the Customer Service...my calls get terminated rudely....you promised us in writing $8000 for 6mths rent in advance after u took our home of 15yrs...you took our payout, long service money & our super...all went into trying to save our home & you still took it, now because I pay my whole pension in rent, we...
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  • doyla66
    doyla66 says #
    It's sad knowing this. Well, i would say having a full knowledge of your rights would be a complete weapon.
  • doyla66
    doyla66 says #
    Hi Peter and Anne, I was wondering if you have signed our petition. Please don't forget to add the reason why you are signing and
  • doyla66
    doyla66 says #
    Mr Narev and your co conspirators.................how do any of you sleep at night. Do you have a modicum of conscience amongst y
  • doyla66
    doyla66 says #
    Please excuse my expression but Ian Narev is a pig of a man judging from the cruel treatment of his costomers. i have heard many
  • doyla66
    doyla66 says #
    Ian Narev could not give two hoots about anyone thrown out into the street. All he cares about is how much money he can make swind
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