GLOBAL SUB-PRIME CRISIS

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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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Our surveys show that 18% of FULL DOC LOANS are TOXIC.  NO verification of income took place, copies of LAFs were not given to the client in direct breach of consumer law and often three people's hand-writing on the loan applications.   Each of these files show the loans were arranged by BANK MANAGERS and internal officers: NO BROKERS involved. In addition, 36% of BFCSA Members surveyed admitted their LOW DOCS or FULL DOCS were arranged by BANK MANAGERS and internal officers: NO BROKERS involved. Would the Commonwealth Government of Australia please tell me why 36% of SUB PRIME LOANS uncovered by BFCSA investigations were specifically arranged by BANK MANAGERS, the majority of whom worked for the Major Banks?  So how safe is our $1.28 TRILLION Mortgage Market????  Who were carrying out the audits?  Not APRA it seems. This email address is being protected from spambots. You need JavaScript enabled to view it....
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  • doyla66
    doyla66 says #
    The corrupt bastards have ruined many many lives, for this they must pay. And pay they will! The truth is coming out, the nation a
  • doyla66
    doyla66 says #
    WoW! over 1/3 Manager-arranged thru "Skippy-the-Calculator". So did "Skippy" recklessly bound over a $1.28 Trillion-Mortgage-Marke
  • doyla66
    doyla66 says #
    So true! The computer did it! Nothing to do with the humans at all. As if ... what do they think Australian consumers are? Tree dw
  • doyla66
    doyla66 says #
    Actually informed that Survey showed:- 100% of ALL LOANS via broker or bank staff APPROVED by 'Skippy Computer'; 100% loans assess
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