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BFCSA
MORTGAGE
DISTRESS SOS

What BFCSA Does...

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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BFCSA Blog

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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Bankers created the loans that are now the thorn in the side of ASIC regulators.  Banks were the engineers of the Products (Lo Docs and FULL Docs)  that became the catalyst for widespread lending.  I had one banker saying to me this morning "the fraud and forgery are irrelevant!"  Really?  I am afraid our members do not see it that way.  ASIC is trying to mumble it had no laws with which to prosecute banks pre 2010.  That is false - hence the High Court and six other similar cases were won by consumers (albeit with funding) against THE BANKS>  The Brokers were irrelevant in the fraud and forgery as the fact remained according to Judges that the Banks had a duty to reject unaffordable loans.  They had that obligation under the Banking Code of Practice.  Non Bank Lenders who are not members of the code (but ASIC does not warn the public of that minor problem) must...
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  • doyla66
    doyla66 says #
    Thankyou, Denise. Blow them away with the truth of their own words. It's looking more like a conspiracy now. ASIC supervises and
  • doyla66
    doyla66 says #
    I dont care how many times ASIC try to fob the blame off on someone else apart from their Bankster Mates, its the Banks and no one
  • doyla66
    doyla66 says #
    Robert, go with BDM. It's ALL just one GIANT sham. In my case, 2 distinct "episodes" of bank-fraud took place. The 1st, a 'garden
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Don't let the banks take your home.   Fight back and occupy your home for as long as possible.  Some of our members have been in default for 4 years and are still living free of harassment.  Others have had their mortgages reduced by up to 75% and a few for 100%.  We have also arranged "till death do us part" remedies.  Interest has had to be paid back as compensation. We are looking into a class action against banks and lenders that engaged in fraudulent loans for a HOMES LOST purpose. We have enough evidence to sink a battle ship.  Its numbers we are after.  If you have LOST your home already then you also need to join us and be part of the class.   Australian Banks have been getting away with major fraud for far too long - almost two decades on, and no accountability in SUB PRIME...
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  • doyla66
    doyla66 says #
    I have recently lost my job due to job cut. I've advised ANZ of my hardship and requested to add my 3 months arrears to the loan o
  • doyla66
    doyla66 says #
    An excellent site, wish to read more
  • doyla66
    doyla66 says #
    Hey All, Don't ever give up the fight for your homes. Believe me it is absolutely devastating and debilitating mentally and phys
  • doyla66
    doyla66 says #
    Hello to all, I have a question mortgage coming up to 7 years soon. I have complaints in with COSL and FOS. When
  • doyla66
    doyla66 says #
    Yes how did the banks make huge profits with on 22 million people PLEASE EXPLAIN ! How many actually work. How many too old or si
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The Low Doc Loan scam is set to escalate.  Australian Securities and Investment Commission ("ASIC") could have stopped this Tsunami of financial misery,dead in its tracks in 2003.  ASIC knew the model and the role of the banks in approving such dastardly loans.  These mortgages were designed by clever Bank Engineers to present as 30 years loans, but geared to self implode in less than seven years.  The Banksters involved were simply after BIG business and were prepared to sacrifice ethics, honesty and compassion for the sake of their own fat retirement obsessions.    These Bankers were/are criminals, engaging in criminal work in splendid fashion and protected by the regulators as "Too Big To Fail."    The moral compass had been thrown out of the top floor window in the late nineties.   All ASIC had to do was ensure that every page of the Loan Application Form was signed and...
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  • doyla66
    doyla66 says #
    ASICs overseers have not been strong enough. 2003. This is totally unacceptable. What we need in Australia is mandatory regulatio
  • doyla66
    doyla66 says #
    Why is the banking code of conduct like an old boys club? The authorities ( not ASIC) should lay down the rules and make it compul
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