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BFCSA
MORTGAGE
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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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We are still clearing up the fraudulent loans that RAMS left behind and the debris of shattered lives in dealing with RAMS and RHG.  This email address is being protected from spambots. You need JavaScript enabled to view it. Supreme Court overturns ICAC corruption finding against RAMS Home Loans founder John Kinghorn, but upholds findings against Travers Duncan and others DateJuly 29, 2014 - 12:20PM 67 reading now Read later Michaela Whitbourn Investigations reporter View more articles from Michaela Whitbourn Follow Michaela on Twitter Email Michaela   inShare submit to reddit Email article Print   Corruption finding upheld: Mining magnate Travers Duncan outside the New South Wales Supreme Court. Photo: Brendan Esposito The Supreme Court has overturned a corrupt conduct finding against RAMS Home Loans founder John Kinghorn over his involvement in a mining venture linked to the family of corrupt former Labor minister Eddie Obeid. The businessman becomes the first person in more than two decades to be cleared of a corruption finding in NSW. But four of...
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 http://www.crikey.com.au/2010/12/09/bartholomeusz-cbas-competition-confession/  If they haven’t already, the members of the Senate committee should ask RAMS Home Loans founder John Kinghorn to appear before it to explain why RAMS, followed subsequently by most of the non-bank lenders, hit a brick wall and effectively collapsed at the very onset of the financial crisis.  RAMS was the first of the big non-bank lenders to be overwhelmed by the crisis because it had an unusually high — dangerously high, it transpired — reliance on very short-term funding. To a lesser degree, most of the non-bank lenders were also borrowing short in wholesale markets and also accessing securitised debt markets.  In its submission to the inquiry, lodged on Friday, Commonwealth Bank admitted that the major banks were also sourcing a growing share of their funding from those same markets before the crisis — in CBA’s case almost 30% of its funding in October 2007 came from short term wholesale markets, compared with about...
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  • doyla66
    doyla66 says #
    Shock ... horror! Slashed tyres the talk of exclusive north shore beach club More grist to the mill - Kate McClymont on Kinghorn a
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From a reader:  Perhaps the glutton driven banksters could donate their illegally obtained wealth to some of the charity organisations that have been helping my family since RHG scammed me.  The Salvation Army are an amazing volunteer organisation that have helped my family with food vouchers and emotional support through this daily prison I am trapped in over the last few years!!! I will never be able to accept the greed element of this scam?!?  I cannot believe the Government has sat on its hands and worried about far less important things when ordinary aussie battlers have been lured by BIG BANKS into fraudulent Low Doc Loans. $50 billion - is that true?   So its not a problem?  ONLY $50 Billion worth of dud mortgages?!?  Yes we hung on for 5 years and slowly were strangled and running backwards, our dreams shattered and my kids saying what happens next Mummy? I am about...
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  • doyla66
    doyla66 says #
    Disgraceful, Government must step in now but it appears they have gone missing and gutless. Thinking of you arree, we will stick t
  • doyla66
    doyla66 says #
    I'm reluctantly packing up my belongings too as my fight to keep my home is over.... Maladministration was found but the FOS max.
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RHG's solution to solving their TOXIC LENDING policies is to say "we will settle for X dollars by offering a new IMPRUDENT LOAN."  Even worse the lawyers for RHG knew that FOS (the Financial Ombudsman Services) close for business out of respect for the festive season.  RAMS Home Loans Group has just sold out to RESIMAC.  I hope the guys at RESI know what a mess of toxic lending has been left behind.  I hope they read about it in RHG 's infamous "fine print." RHG decided to write to a family with five children, knowing the ill health of the husband.  The allegations are the usual: fraudulent Loan Application Forms, no regard for the Bankers Code of Practice, Maladministration in Lending, asset lending, etc.   RHG's legal counsel delivered a letter by email 48 hours before Christmas to suggest a TAKE IT OR LEAVE IT OFFER....and by the way "we...
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  • doyla66
    doyla66 says #
    Seems every low day is followed by one that picks you up by the bootstraps - yesterday despair on finding out about self-securizat
  • doyla66
    doyla66 says #
    . and European regulators fined banks record amounts this year, imposing penalties and settlements of more than $43 billion as aut
  • doyla66
    doyla66 says #
    Seems to me all Lenders know ASIC will never be taken to task and Joe has now confirmed so in reneging on promises made proving he
  • doyla66
    doyla66 says #
    Wipe the debt and pay for all losses. What a pack of clowns. Classic case of RHG willing to give a loan through fraudulent means a
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