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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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  A really excellent video on the topic explaining what happens with your loan and mortgage after it is signed and registered... http://www.investopedia.com/video/play/credit-default-swaps/#axzz2ATETiAKM  ...
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  • doyla66
    doyla66 says #
    Definition of 'ABX index' A financial benchmark that measures the overall value of mortgages made to borrowers with subprime or
  • doyla66
    doyla66 says #
    Definition of 'Asset Backed Credit Default Swap - ABCDS' A credit default swap wherein the reference asset is an asset-backed se
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  NAB Class Action  Legal action by shareholders against National Australia Bank Limited is being considered to recover losses suffered as a result of alleged non-disclosures. The non-disclosures relate to NAB’s exposure to toxic debt in Collateralised Debt Obligations (“CDOs”). Frozen credit markets were forcing financial institutions to make huge provisions on CDOs from at least October 2007. Why did NAB take so long to writedown the value of its CDOs? Did NAB keep the market informed of all information which it knew or ought to have known was material to the price of its shares? Maurice Blackburn Lawyers is investigating a potential class action against NAB on behalf of shareholders who purchased or acquired an interest in shares between 1 January 2008 and 25 July 2008. By August 2007 concerns regarding the US subprime sector had broadened into a more general credit crisis. In the latter half of 2007, as credit market liquidity froze, major financial institutions announced huge write-downs across CDOs and significant losses.   NAB’s CDOs As...
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Eric Schneiderman
    Same tune, different words?  http://www.huffingtonpost.com/2012/02/03/mortgage-fraud-new-york-ag-schneiderman-sues-banks-electronic_n_1252793.html     Three big banks were hit on Friday with yet another lawsuit related to wrongful foreclosures. Democratic New York Attorney General Eric Schneiderman filed suit against Bank of America, JP Morgan Chase and Wells Fargo for deceptive and fraudulent use of a private database used to register mortgages, according to a Friday press release from his office. Schneiderman has been outspoken in urging the Obama administration to hold the nation's largest financial institutions accountable for their role in the foreclosure crisis, notably hesitating to join a larger nationwide case against the country's five largest banks for mortgage fraud. States now have until Monday, according to the Iowa attorney general's office, to decide to join that deal.The New York attorney general has yet to announce whether New York will participate in the deal because of concerns that joining the settlement would make it impossible...
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