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.
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.
By Caroline Dann | 12/10/2012 6:00:00 AM |
ME Bank claims a recent spike in broker loan applications is a direct result of it slashing fixed rates.
Loan applications from brokers more than doubled from August to September, from 9% to 20% respectively.
The bank has one of the lowest three-year fixed rates in the industry, at 5.39% for its SMHL Standard Loan.
Stewart Saunders, ME Bank’s national manager brokers, also attributed the successes in the broker channel to an increased presence across aggregator panels.
“We’ve now joined the panels of 11 aggregators in the last 11 months, including three new aggregators in August – Connective, Choice and Plan – bringing the total number of accredited brokers to nearly 2,000,” said Mr Saunders.
Saunders hinted that the bank was in “discussions” with more aggregators.
Comment: Watch for the crumbling effect……
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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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Credit bureau Veda says New Zealanders showing renewed confidence in borrowing for both homes and businesses
Posted in Business August 16, 2012 - 11:15am, Gareth Vaughan
Credit bureau Veda says mortgage enquiries rose 44% in July emphasising renewed confidence in borrowing for both homes and businesses.
Veda said for the first time in five years its bureau statistics showed a rise in commercial enquiries, which is "enormously positive" for the economy.
"Businesses owners require a level of confidence in future growth to borrow funds to invest in their operations and expand," Veda’s managing director John Roberts said. “Business has hung in through a slow economic recovery. An increase in enquiries is a welcome sign of emerging stimulation in the commercial sector.”
Roberts' comments are similar to those from ASB CEO Barbara Chapman. After the bank released its annual results Chapman told interest.co.nz ASB had grown business lending by 6% in the year to June 30,...
Still waiting to recover fire in the belly
by: Peter Switzer
From: The Australian
August 18, 2012 12:00AM
Westpac chief economist Bill Evans says talk of interest rates rising may be spooking consumers. Source: Herald Sun
JUST when we thought we had an improving economy, consumers have failed to give the work of the Reserve Bank and the Gillard government the thumbs up.
Ironically, the news of a 2.5 per cent fall in the Westpac consumer confidence index to a disappointing 96.6 in August coincides with a rise in the NAB business confidence index to 3.9 in July, from -2.9 in June.
It is the first rise in business confidence in three months.
The great entrepreneur and business builder Gerry Harvey is bewildered about how tough conditions are right now. The NAB business conditions index fell to -3.5 in July from -1.1 a month earlier, which would seem...
"It is not necessary to bury the truth. It is sufficient merely to delay it until nobody cares -- Napoleon Bonaparte"
