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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 Loan Mortgage Insurance Scams
FBAA slams LMI insurers for non-disclosure   by Calida Smylie | 15 Apr 2014  AUSTRALIAN BROKER NEWS The Finance Brokers Association of Australia believes there is a need for greater transparency and disclosure on behalf of lenders and Lenders Mortgage Insurance insurers to make sure consumers are not being ripped off by having to pay LMI. The Reserve Bank of Australia estimates more than one quarter of housing loans in Australia are subject to LMI.  In the financial year ending 30 June 2013, banks made an estimated 761,880 home loans, totalling $247.9 billion in lending, which indicates around 190,470 loans created in that financial year were subject to LMI. But FBAA said in its submission to the financial services inquiry that there are many issues surrounding LMI, including consumers not being provided with LMI product disclosure statements, including any details regarding any commissions payable to the lender. ‚ÄúPrivity of contract is the...
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  • doyla66
    doyla66 says #
    Some LMI Insurers used to send the borrowers a copy of the policy, as a matter of course. Now borrowers have to use some heavy ha
  • Denise
    Denise says #
    BFCSA is looking after 1262 consumers of mortgage products. Everything the FBAA is saying is true, and we have material suggestin
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