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BFCSA
MORTGAGE
DISTRESS SOS

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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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I've just browsed through documentation from the LMI.  No sign of the additional LAF documents or LSC. The original LMI was with GE. Now it's with a different company. Surely when it changed companies something should have been sent to me as the borrower? How about "Terms and Conditions", contract documents, etc?  Would this tendency of credit providers like banks to change insurers and not let me know what the changes to the conditions etc are come under Insurance Act? Insurance Ombudsman? I checked my loan documents and I can see where the LMI premium was paid on the loan statements. I have yet to find out what the time limit on claiming for hardship - plenty of equity left in security property.  COSL mentioned that as well. As well we seemed to be paying a higher interest rate than the standard rate for that lending product.   Mortgage Insurance Proposal...
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  • doyla66
    doyla66 says #
    Dear All, I am preparing a submission to the FSO to reclaim LMI as I repaid a mortgage after 2 years. The CBA says they won't pay
  • doyla66
    doyla66 says #
    Quite likely, Andy. My gut feeling is yes. Reassurance - like another back door bank bailout. Banks want it from everywhere! Poor
  • doyla66
    doyla66 says #
    or BFCSA so we can start to clean up the havoc caused by their excess!!!
  • doyla66
    doyla66 says #
    US(2012)Genworth caught illegally funnelling $billions(re-issuance)back to originator/banks(@ hyper-rates) effective "kick-back";
  • doyla66
    doyla66 says #
    Interesting .... http://www.macrobusiness.com.au/2012/09/is-kohler-right-about-hiking-rates-to-protect-the-dollar/ "... nurse the
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