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BFCSA
MORTGAGE
DISTRESS SOS

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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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YES Gadens are bullies and if we had a Royal Commission into our Banks, as is desperately needed (if we are to control bad banking behaviour as happened in every other democratic country) Gadens would be called in to answer 12 months of questioning as to whether they were the masterminds of the Low Doc Scam.  Its a question that every consumer of a mortgage loan in Australia, Full Docs, Low Docs or No Docs has a right to ask.   In our experience, Gadens hand-prints are everywhere.  The Law Societies in each State and indeed The Law Council of Australia should be investigating Gadens for their roll in arranging the lion's share of toxic mortgages in Australia.  The Judiciary in each State, speak amongst themselves and they see trends that are as unpalatable as we have uncovered.  Not that ASIC sees anything wrong.   ASIC permit one person to be...
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  • doyla66
    doyla66 says #
    I'm so looking forward to seeing Gadens hung out to dry by some good lawyer in a public arena. Their "advice" to Banks has been i
  • doyla66
    doyla66 says #
    I have previously dealt with the Law Council and found them to be very protective of their members as the banks, fos etc are. Nev
  • doyla66
    doyla66 says #
    I think that most of us have had a lot of stress dealing with Gadens as they are everywhere and act for many banks. Great idea fro
  • doyla66
    doyla66 says #
    Gadens are low life and during the Royal Commission they will be exposed with their deceit, distain and corrupt methods. Up to the
  • doyla66
    doyla66 says #
    Gadens NEVER move without instructions -express/tacit- same as Theresa Gadens threw my pregnant tenant out without Court Order so
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Citigroup to Pay $968 Million to Fannie Mae on Faulty Loans (BOA paid $11.7 billion) By Hugh Son - Jul 1, 2013  Bloomberg New York Citigroup Inc. (C), the third-largest U.S. bank by assets, agreed to pay Fannie Mae $968 million to settle claims tied to more than a decade’s worth of defective home loans sold to the taxpayer-backed mortgage firm. The agreement includes 3.7 million mortgages originated between 2000 and 2012, the New York-based bank said today in a statement. While the payments were covered by existing reserves, the bank said it will set aside an additional $245 million in the second quarter. Results will be reported on July 15. Citigroup Inc. joins firms including Bank of America Corp. in settling claims that they failed to check details such as borrowers' income when they created home loans. Photographer: Munshi Ahmed/Bloomberg Citigroup joins firms including Bank of America Corp. in settling...
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  • doyla66
    doyla66 says #
    This would've been done world wide. We are going to see our corrupt banks and their corrupt buddies put behind bars where they bel
  • doyla66
    doyla66 says #
    Dirty-Aust-Ban$ters"heads-up", lenders typically promise to provide refunds if such flaws are later found in docs backing mortgage
  • doyla66
    doyla66 says #
    Aha! And do they put that promise in writing? Is it part of a contract with AOFM or ...? Does this mean investors have a faulty g
  • doyla66
    doyla66 says #
    Lisa, every BCFSA member in a position to demonstrate clear LAF discrepancies known, ought to have been known, by their scum bank$
  • doyla66
    doyla66 says #
    I certainly hope our authorities see this and understand the same outcome must happen here in Australia, for the dirty, scamming,
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How to effect a giant cover-up?  Very simple.  Send all consumer complainants a letter telling them to go to financial counsellors, who will then send the victims back to the banks for hardship lessons.  When that runs out of steam we set up the External Dispute Resolution Services ("EDR"), run from the same gene pool that loath pesky consumers.  Licence the EDR's such as FOS "Financial Ombudsman" and COSL "Credit Ombudsman" and then they can bear the blame for failure.  ASIC then instructs the EDR's to treat every complaint of fraud as if its "a dispute." ASIC:  "Yes its Fraud by brokers but what do you want us to do?  Go and find a lawyer and talk to the EDR's" Consumers who go to COSL are told: "Oh this is FRAUD" we cannot help you.  Go to the Police. State Police say: "this is definitely FRAUD BY BANKS - go to...
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  • doyla66
    doyla66 says #
    Yep - very familiar with that merry go round described by Denise. It is deliberately designed to be that way & you only discover A
  • doyla66
    doyla66 says #
    Where should consumers go with Fraud cases? We've done the rounds, written to the Prime Minister, Senators, Ministers, our local m
  • doyla66
    doyla66 says #
    Bank$ters deny FOS/Applicant discoverable docs, FOS says "no probs", yet same conduct in Court, Default Order issued by Judge agai
  • doyla66
    doyla66 says #
    Who told the judges that was an acceptable answer from a Bank? Lost contract? Lender, manager and SPV/Trust have a copy of it.
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