GLOBAL SUB-PRIME CRISIS

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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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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 Dud Liar Mortgages
Why gearing gets a hearing from Peter Dutton The Australian 12:00am December 2, 2016 Will Glasgow, Christine Lacy   The burden of handling one of federal politics’ most controversial portfolios isn’t holding back Immigration Minister Peter Dutton from building his substantial personal wealth. The Member for Dixon is one of parliament’s less publicised multi-millionaires, having accumulated assets worth at least $10 million — perhaps as much as $20m — mainly through investment in residential real estate. While protesters this week were hijacking the parliament over the Turnbull government’s refugee policies, Dutton was ­disclosing that he had been on a real estate spending spree since May. He’s snapped up two new properties for his portfolio in his beloved Queensland — one in inner city Brisbane’s Spring Hill and another in far north Queensland’s Townsville. No wonder Dutton was one of the most strident critics of Labor shadow treasurer Chris Bowen’s proposal to...
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We need an urgent ROYAL COMMISSION INTO BANKING.  BFCSA Member files have over-represented presence of RAMS dirty loans - dating back to RHG and more recent WESTPAC.  The evidence is there.  We have presented compelling EVIDENCE to Parliament twice...hand delivered to ASIC......hand delivered proof to FOS.....hand delivered proof to Senators.  WE have posted dodgy loan apps on our website, also service calculators and over 200 emails between banks and brokers.  LENDERS HAVE BEEN rubber stamping APPROVALS for over 15 years whilst ASIC SNOOZED.  Fraudulent incomes, forged paperwork, over the top Loan to Value Ratio's - ie dodgy valuations - akin to American Sub Prime.  Our sub prime crisis indeed.  Why has our sub prime crisis taken so long to crack and unravel the truth?  Just ask the MFAA....they protect their members who are predominantly LENDERS (in terms of heavyweight and long lunches).  Why any broker would belong to the Lender interested...
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  • doyla66
    doyla66 says #
    It's in the same league as the old favourite "in good faith" which is trotted out every time a Banker or their staff (reading off
  • doyla66
    doyla66 says #
    Laughable to see where RAMS try to justify themselves by saying "they have extremely robust lending practices" . Prepared to exagg
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From a reader:  Perhaps the glutton driven banksters could donate their illegally obtained wealth to some of the charity organisations that have been helping my family since RHG scammed me.  The Salvation Army are an amazing volunteer organisation that have helped my family with food vouchers and emotional support through this daily prison I am trapped in over the last few years!!! I will never be able to accept the greed element of this scam?!?  I cannot believe the Government has sat on its hands and worried about far less important things when ordinary aussie battlers have been lured by BIG BANKS into fraudulent Low Doc Loans. $50 billion - is that true?   So its not a problem?  ONLY $50 Billion worth of dud mortgages?!?  Yes we hung on for 5 years and slowly were strangled and running backwards, our dreams shattered and my kids saying what happens next Mummy? I am about...
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  • doyla66
    doyla66 says #
    Disgraceful, Government must step in now but it appears they have gone missing and gutless. Thinking of you arree, we will stick t
  • doyla66
    doyla66 says #
    I'm reluctantly packing up my belongings too as my fight to keep my home is over.... Maladministration was found but the FOS max.
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