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BFCSA
MORTGAGE
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What BFCSA Does...

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 Consumer Protection ASIC Failures
One of the best Four Corners programs on Banks' bad attitude to customer relations as a result of ADELE FERGUSON's investigations into Commonwealth Bank and ASIC cover ups will be shown on ABC FOUR CORNERS TONIGHT 8.30pm. Please don't miss it.  Its a message to all Brokers YOU COULD BE NEXT as more of these activities are exposed.  BUT keep open mind................Banks were the MASTERMINDS of all this Mortgage Lending Chaos and the Bankers developed the strategies to fleece customers of assets. The Banks are operating as a CARTEL and BFCSA has amassed the evidence by gathering together 1200 people in similar circumstances. The reason that SENATOR BISHOP became justifiably angry at the CBA chief using the word to describe certain activities "as inappropriate behaviour," when discussing fraud and forgery and his anger followed in later questioning of ASIC Chief GREG MEDCRAFT and ex IOSCO sidekick Greg Tanzer. In appropriate is...
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  • doyla66
    doyla66 says #
    https://www.facebook.com/commonwealthbank (corrected post) Recent Facebook Posts recorded before they disapear Steve Vella J
  • doyla66
    doyla66 says #
    Sarah Jowett I go on your website, but your "locate us" page doesn't function on my iPad!! C'mon guys, you need to get that rig
  • doyla66
    doyla66 says #
    Last night's ABC Four Corners program Banking Bad shone a light on the pressure cooker working environment driven by the sales and
  • doyla66
    doyla66 says #
    Great investigation by Adele Ferguson. "Inappropriate" - good on you, Senator Bishop. About time Australians all dumped the rubbi
  • doyla66
    doyla66 says #
    They the pollies yet again take the big stick to students and education the pensioners and retirement age and lets apply another t
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Hungry and dynamic: Young brokerage takes off Australian Broker News by Calida Smylie | 03 Apr 2014   A fledgling Sydney brokerage is crediting its team of young mortgage brokers for its record home loan applications lodged in March.Shore Financial was established just a year ago and lodged $100 million home loan applications last month, beating its previous record of $63 million and well on the way to achieving the company goal of $150 million by December.Managing director Alex Nochar credits his fresh and enthusiastic team – the average age is a youthful 26 – for the company’s success.“We’ve got young brokers who have no preconceived ideas about the industry and we can teach them how to do it well. They’re hungry, dynamic, bright, intelligent people from different backgrounds and I think it makes a difference. They’re able to generate inquiries with enthusiasm and professionalism.”Nochar has been in the broking industry for just...
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  • doyla66
    doyla66 says #
    I actually cannot remember ever having to scrounge for employment. I know there was always some competition in the work market bu
  • doyla66
    doyla66 says #
    Definition of a JOB as per how jobs used to be in our day Nanna JOB is Just Over Broke. Too much competition from foreign interes
  • doyla66
    doyla66 says #
    Guess a jobs a job these days Organza. Public opinion of Finance Brokers is like years ago when we classified all Car sales perso
  • doyla66
    doyla66 says #
    So who are they selling all those mortgages to? If SMSF funds they had better watch for they are NOT covered re compensation if a
  • doyla66
    doyla66 says #
    Sound like tricks of the trade are being passed on to the gullible young to me. Maybe I am old fashioned and old in body but I wo
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ASIC banks broker over fake approval letter ED:  So why did ASIC FAIL yet again to lay charges against the Bank Staff who approved the loan?  Those who failed to check the validity of the letter?  Hello?  One phone call could have averted this disgraceful situation!  ASIC bleat that its not corruption....so what is it?  The Bank approved an imprudent loan based upon a fake letter so where is the justice?  The bank engaged in Maladministration in Lending.  One Perth Broker did not cause this Tsunami of Debt.  The CBA have thousands of similar loans. ASIC know that as FACT.  Mr Chu should turn whistleblower on an industry out of control.  This email address is being protected from spambots. You need JavaScript enabled to view it. by Australian Broker | 17 Jul 2013   A Perth-based mortgage broker has been permanently banned from engaging in credit activities after an ASIC investigation found that he had falsified a letter stating finance approval had been provided for a client.Eric...
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  • doyla66
    doyla66 says #
    Denise will know exactly who I am talking about. The Melbourne based Broker/Company Managing Director was given a SEVEN YEAR BAN b
  • doyla66
    doyla66 says #
    ASIC takes the role of gatekeepers very seriously. People who do not take their obligations seriously will be removed from the ind
  • doyla66
    doyla66 says #
    Peter Kell and ASIC have only done half the job. Why no charges against CBA staff who approved the loan that resulted from Mr Chu
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TO ALL MEMBERS AND THEIR FRIENDS AND FAMILIES and the wider long suffering Public Please send urgent message out:   Senator John Williams (NATs) Senator Doug Cameron (LAB) Senator  Mathias Cormann (LIBS) Senator Christine Milne (Greens)  Where are all the other Senators that belong to the House of Review – OUR SENATE?   It is vital that every BFCSA MEMBER WRITE to the above SENATORS via LETTER OR EMAIL and tell them your views:-   BFCSA MEMBERS DEMAND AN URGENT INQUIRY INTO THE AUSTRALIAN SECURITIES AND INVESTMENT COMMISSION The Inquiry to commence immediately and why......... ASIC was sitting on an enormous SUB PRIME LENDING scandal....WHY?   Why did ASIC ignore FULL DOC AND LOW DOC Sub Prime Lending Products for so long?  Why did ASIC fail to protect Consumers?   Why did ASIC ignore illegal Managed Investment Schemes and fail to protect retirees from predatory selling practices? Why did ASIC fail to protect...
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  • doyla66
    doyla66 says #
    I hope everyone is sending in their letters. No point just a few people doing it, that's not going to have much of an impact. The
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