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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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We need Bankers behind Bars.  As expected, the Banksters and ASIC Mates of Tregillis have finally and completely captured the Financial Ombudsman's Service............................COSL was captured by non bank lenders from the very beginning. STAFF at FOS are in danger of concealing major criminal conduct in the Banking Sector:  Staff could be charged as being an accessory after the fact. Everyday, FOS staffers see files littered with the crime of fraud and forgery by Bank Staff and are not reporting instances to Police.  Yes there is a Construction Cartel but there is also a Banker Cartel and has been since de-regulation of banks.  Money breeds corruption.  Big Money creates an even bigger Cartel. FOS is consistently buckling under pressure from Banks and ASIC Mates.  COSL was always under the non lender's thumb but, for two years FOS seemed to lift its game regarding investigations into Bank Fraud and Maladministration in Lending, meaning imprudent banking decisions, exaggerated...
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  • doyla66
    doyla66 says #
    Banksters & FOS & COSL in Damage Control. Banksters pay from $5,000 up to $18,000 for a Determination, now compulsory with acco
  • doyla66
    doyla66 says #
    Mr. Tregillis and Mr ( use my discretion ) Fields should remember the old adage Power corrupts and Absolute power corrupts absolu
  • doyla66
    doyla66 says #
    Denise, Once again you are on the money - the appalling use of self invented discretion is the method FOS uses to circumvent its
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Now the tables are turning - AT LAST in favour of Consumer victims of LOW DOC SUB PRIME MORTGAGE LENDING SCANDAL. In 2009, American Judges started to see these Bankster Tricks in the correct light of day and placed them under a very impressive Judicial Spotlight:  "You cannot find the files, the original documentation?  Too bad for you......MORTGAGE EXTINGUISHED.   Slowly, slowly our team BFCSA are breaking down those very same barriers that Banksters have been hiding behind.  Does the Judiciary trust Bankers?  Not really!  There have been many court cases like this since then.  Now for our turn.....and we expect a few Bankers to be jailed over these criminal activities.  We received one today Liabilities $6k per month.  Income $4K - bank approved a number of loans like this.  Big fallout likely.  Lots more to come! Mortgage debt waived after bank can't find   paperwork by Martha C. White  Oct 27th 2009...
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  • doyla66
    doyla66 says #
    2009 - incredible - and Australia is just heading down the same path to electronic applications that caused the sub-prime crisis i
  • doyla66
    doyla66 says #
    we are getting ready for the big fallout denise. I hope the regulators are taking MORE notice of little 'ol BFCSA and the evidenc
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We copied this from COSL Case History File on PREDATORY LENDING.  The case highlights why asking for a mortgage from a NON BANK LENDER is deadly high risk territory........................ This is the problem with COSL:  Facts of the case The complainants responded to an advertisement by the financial services provider, a broker, who professed to specialise in bad credit loans. They were looking to refinance their existing home loan and borrow a little extra to convert their garage into another bedroom. Their existing loan was in arrears and they were about to lose their home. The complainants were both unemployed and on Centrelink payments, with four children and another on the way. The Broker was aware of this.   Nonetheless, the Broker arranged two new loans for them one for $110,000 at 8.95% (plus 3% on default) and the other for $72,317 at 23.60%. The loan was repayable in twelve months...
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  • doyla66
    doyla66 says #
    Lender not a member of COSL or FOS? Wonder if they had a credit provision licence? Or an AFSL? It should be commonsense - if bor
  • doyla66
    doyla66 says #
    Consumers are seen as white shark bait-- and where is the lender, conveniently unseen, never properly pursued as usual......
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