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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 Macrobusiness on the Money
Crap indeed......no matter how many qualifications. financial advisers have, it will make no difference if all they have to offer are FLAWED FINANCIAL PRODUCTS!  This macrobusiness article says it all.......Medcraft was the Father of Securitization, globally............go figure!  So You should all work out what happens from here on in, if no action taken against the Bankers. In a nutshell to explain what Murray failed to discover (what a surprise!) read below and, for full report cut and paste the link  http://www.macrobusiness.com.au/2010/12/deep-t-is-securitisation-the-spawn-of-the-devil-part-1/ ............The guys with all these new spreadsheet skills were employed by investment banks globally and told to analyse anything and everything and come up with ways to increase profits ie bonuses. This was of course delivered by gaming the system. In this case the system was.  (i) securitization, (ii) how the rating agencies gave opinions on RMBS (Residential Mortgage Backed Securities) and (iii) how investors were incentivized through government regulation globally, to rely...
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APRA warns of spread of high risk loans - Macrobusiness Posted by Houses and Holes in Australian banks, Featured Articleat 1:07pm on May 26, 2014 | 9 comments       The Australian Prudential Regulatory Authority today (APRA) today declared that: APRA Chairman Dr John Laker says credit standards in residential mortgage lending have been a major focus of APRA’s prudential supervision of ADIs, particularly in the current environment of strong pricing pressures in some housing markets and very active competition between lenders. ‘In this environment, APRA is seeing increasing evidence of lending with higher risk characteristics and it does not want this trend to continue. The draft prudential practice guide reinforces the importance of maintaining prudent lending standards when competitive pressures may tempt otherwise’, Dr Laker said. In response to the problem, APRA released not a comprehensive framework for macroprudential policy, but rather, a piece of paper, summarised below by Martin North’s DFA blog:...
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  • doyla66
    doyla66 says #
    Good article. But until the Credit Laws are enforced in an efficient and timely way, the system won't produce truly prudent lendi
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