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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 housing bubble
Maryborough MP Anne Maddern has emerged as the most prolific real estate investor of all Queensland parliamentarians, with a new report showing the cashed-up MP owns 14 properties. The report, by the same authorship team that crunched the numbers on property ownership among federal politicians last year, shows Queensland MPs are heavily invested in real estate, with just two of the state's 89 parliamentarians not property owners. Collectively, they own 195 properties, or an average of 2.2 per member, which equates to a portfolio the report authors' conservatively estimate to be worth $91 million. Authors Paul D Egan, Philip Soos and Lindsay David said they were concerned housing and taxation policy was being influenced by the heavy real estate interests of the parliamentarians from both major political parties, as well as minor parties and independents. "The data demonstrates the majority of politicians have a vested interest in maintaining high housing and land prices,...
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Housing price bubble headed for unemployment ‘pop’ Citizens Electoral Council of Australia Australia’s property bubble is coming to land on a very sharp pin—the sharp increase in national unemployment. Although the Australian Bureau of Statistics reported official unemployment held steady for the month of December, at 5.8 per cent, it recorded a plunge in the participation rate to 64.6 per cent. That is, only 64.6 per cent of people of working age are active in the workforce, either working or looking for work. When the participation rate falls, it is usually because job-seekers give up looking for work, at which time they are no longer counted in the unemployment statistics. If the participation rate today was the same as the average in 2011—65.5 per cent—the official unemployment rate would already be 7.1 per cent. And that’s just official unemployment, not real unemployment. For example, the ABS counts people who work as...
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  By Caroline Dann | 12/10/2012 6:30:00 AM | In an unprecedented move, the Irish government will pass laws encouraging banks to substantially cut homeowners' debts. The move, aimed to reduce foreclosures and help thousands who are struggling, is being closely watched by the US to see if it is a viable preventative to a housing crash. Critics argue unscrupulous borrowers will simply take advantage of the bailout and stop making payments altogether. Before we get too excited, the government is merely making a suggestion: paying off or substantially reducing the debt will not be 'enforced' according to Ireland's justice minister Alan Shatter. Too bad.   ...
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  • doyla66
    doyla66 says #
    I agree, Arree. With the Aussie Dollar over priced and interest rates falling Steve Keen's Jubilee is timely. His ideas would pr
  • doyla66
    doyla66 says #
    As i have commented here before.. try Professor Steve Keen's idea for a Modern debt jubilee Personally I too am inspired by his v
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Deputy Governor of the RBA, Phil Lowe, has today delivered a nice speech in which outlines why it is that the labour market is softer than it appears. This will no doubt fail to silence those commentators that prefer to see the cup as half-full but most importantly, Lowe finishes on what amounts to a justification of the recent rate cut and nominates dwelling construction as one way for the RBA to pick up labour market slack.  Read on: http://www.macrobusiness.com.au/2012/10/rba-were-gonna-build-more-houses/  ...
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  • doyla66
    doyla66 says #
    Big4 in AUS pay dividends which puts them in top 50 dividend payers of all listed stocks globally & top 10 in financial sector glo
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By Leith van Onselen The Reserve Bank of Australia (RBA) has just released the private sector credit aggregates, which registered a small increase in total credit growth in the month of July, but the third lowest monthly housing credit growth in the series’ 35-year history and the lowest quarterly and annual mortgage growth ever recorded: Read on ...http://www.macrobusiness.com.au/2012/08/housing-credit-growth-weak-in-july/...
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  This is an interesting historical article on perceptions about Australian RMBS. It certainly pays to be informed about risk in the marketplace.   by Hardeep Dhillon     In terms of collateral, the Australian residential mortgage-backed securities market has performed better than its peers for several years, thanks mainly to its blemishless default history. After a post-crisis slump, a revival of domestic issuance is under way; but it could take much longer for cross-border transactions to follow.   The peak came in February 2007 with the A$7 billion ($5.5 billion at time of issue) multi-currency transaction by Commonwealth Bank of Australia, via its Medallion programme. As well as being the largest RMBS by an Aussie borrower, the deal set a new pricing benchmark, with the most senior US dollar-denominated notes offering a pick-up of just 4 basis points over Libor. Around that time, spreads on deals from the three other banks...
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  • doyla66
    doyla66 says #
    This bank has publicly issued over $9.5 billion of RMBS since 2003. Through our RMBS program we currently manage the collections
  • doyla66
    doyla66 says #
    "Australian Banks have full recourse to the borrowers" yep they sure do,they can take our houses,this is unconscionable,and they h
  • doyla66
    doyla66 says #
    I'm looking forward to seeing the list. There is no excuse for politicians who might think they can avoid the issue. There are c
  • Denise
    Denise says #
    Brilliant find LISA Yes we are all receiving an amazing education over all these banking products and skull-duggery. We are also
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