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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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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 fraud loans
  29 Jun 2012 - Good reading and video at: http://barnabyisright.com/2011/06/29/rba-says-our-banks-are-stuffed-in-other-words/#comments   Yesterday, RBA Assistant Governor Guy Debelle indulged in some MOPE.   Management Of Perceptions Economics.   Lies, deceit, and propaganda, in other words.   But for those with an ear to hear, and an inclination to check the “authorities’” claims, what he really did – unintentionally – was to give us a heads up.   That our Too Big To Fail banks (TBTF) are going to get bailed out, sooner rather than later.   Go grab a modest quantity of your favourite beverage, and settle in.  You are about to learn – in detail – why we cannot trust a word the banksters say.   Ready?   Now as expected, the mainstream press all lazily parrotted the “everything’s fine, move along, nothing to see here” headline that Mr Debelle wanted. Here’s a good example, from the nations’ “premier” newspaper:...
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  • doyla66
    doyla66 says #
    "why is the Australian taxpayer on the hook to backstop the banks?.." Why not change this scenario around in favour of the tax p
  • doyla66
    doyla66 says #
    Lisa, 'you're a woman after my own heart', but would you be employable to the press? Hmm, let me think......computer says, "no" r
  • doyla66
    doyla66 says #
    A big read Lisa. Keep them coming.
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  http://www.macrobusiness.com.au/2012/08/q2-rmbs-arrears-mixed/ Posted by Houses and Holes in Banks on August 31, 2012 | 3 comments -  "Where does this sit with Denise Braileys work, and 100000 people affected by dodgy low doc loan practises? Are banks hiding defaults?"  EDITOR:   Yes they certainly are and a point I raised in transcript.......APRA reacted next day and asked banks for updates!!!  More lies!  Government needs urgent AUDIT into FULL DOCS, LO DOCS AND NO DOCS......     From Moodys:   Sydney, August 31, 2012 — The prime 30-plus arrears rate remained steady in the second quarter at 1.66% in June, and unchanged from March. In addition, the rate has not moved much from the same period last year when it was at 1.67%. While the overall index is at 1.66%, considerable variation exists within the market. Historically, major bank deals have performed better than those of non-major bank ADIs (i.e. other ADIs), which have, in turn, outperformed non-ADIs....
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  • doyla66
    doyla66 says #
    I can see the heads of all the regulators being moved on - the sooner the better! They presided over the cover up. Australians don
  • Denise
    Denise says #
    Like everything else in this sordid tale of bankster pillaging, the figures have been hidden or skewed. I mentioned in Parliament
  • doyla66
    doyla66 says #
    Is there any way of getting stats on the homes repossessed, sold under duress, sold out of fear of default and banks etc? ie. the
  • doyla66
    doyla66 says #
    of course its much worse than they reveal but dont forget to take into consideration all the homes they have already repossessed a
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This is simply brilliant! - a "creative" solution to bank angst - in particular, NAB angst. Bankslayer has done it again :)   This is my how to for creative visualization - I imagine the building is the headquarters of the National Australia Bank being demolished after they've gone bankrupt. How did the nab go bankrupt? Well, after months of campaigning politicians finally did the right thing and there was a Royal Commission into Bank Malpractice. Following even more months of evidence including that of victims of the bank such as Ozzie Inak and Rosie Cornell as well as numerous expert witnesses the nab was stripped of it's license to trade as a bank. Unable to be a fully functioning bank their shareholders abandoned them.  After considerable whingeing the nab was declared bankrupt. See how easy creative visualization is? Help me out - if you're an Aussie demand your Federal MP...
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  • doyla66
    doyla66 says #
    I think I must be more callous than you. I imagine all I have been associated with throughout this dispicable loan being homeless
  • doyla66
    doyla66 says #
    just testing - trying to learn how to blog Editor: hey u made it! Congrats Robyn
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I came across this 2004 ANZ submission by accident. What a gem! From the Banks perspective we, the Fringe Lending Market, were "missing out" on so many financial products. Frankly, I didn't feel like I was missing out by not having a mortgage hanging around my neck or a plethora of bank accounts and credit cards to manage! I didn't lament my lack of financial products. One bank account for everything was fine for me, and had been for as long as I could remember. Why complicate life by being chained to the wheel as a debt slave?   I got into major debt through my long time friend and partner. A decent man who thought $30,000 was a large amount of debt. He wanted to be able to retire and he felt he should be able to leave something for his children. He took the risk. And found he was...
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  • doyla66
    doyla66 says #
    Thanks for the hyperlink Lisa. Some light reading for later when I get off the net
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Securitisation - Australian Residential Mortgage Backed Securities
  This looks like the sales spiel for exporting our financial services overseas.  Page 8 ... "Strong Rule of Law"... In short the borrower bears the full responsibility for keeping the whole thing afloat.  It all sounds rosy - we know it's not.  Our ratings status has been downgraded based on the "housing bubble" information, dropping values, rising LVRs, possible reclassification ...  There is considerable information on the AOFM site about the doings between the government and the RMBS investment.  http://www.aofm.gov.au/content/rmbs.asp   I've been looking everywhere for a list of investors or countries who have in effect loaned Australian lenders money on this basis. Can't find it ... What happens when the "investor" in the Australian RMBSs decides to get out of the deal?  What security or guarantees does the Australian government have, and by default each one of us?  What security do we as home owners/borrowers have?  Most of us...
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  • doyla66
    doyla66 says #
    Minimum: banks must do LAF veracity checks on defaulting home-loans = ascertain true LAF facts from borrower!!!
  • doyla66
    doyla66 says #
    I was watching a video with Governor Jesse Ventura quizzing bank top dogs about their distorted values and lack of accountability.
  • Denise
    Denise says #
    What of the funds came indirectly from Superannuation DIY funding - via bank investment products????? More lovely fees. It also me
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