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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 RBA using fudged figures from APRA
page 12 of APRA Annual Report - worried about Major Banks over loading customers with debt due to Banks' insatiable "appetite for risk."  Problem is the "appetite" was to take no risks and load consumers up with all risk and liability for their own financial demise.  (thanks Gladys - our intrepid researcher)  Aggrieved consumers of toxic bank products are desperate for Royal Commission into Bankers.  This email address is being protected from spambots. You need JavaScript enabled to view it.    APRA’S SUPERVISORY ACTIVITIES IN 2004/05   AUTHORISED DEPOSIT-TAKING INSTITUTIONS Authorised deposit-taking institutions (ADIs) continued to enjoy good financial health, with strong earnings, impaired assets at historical lows and capital ratios increasing in most areas.   This general picture has altered little over recent years, although the underlying credit environment has changed. In 2004/05, credit growth slowed overall and there was a significant shift in its composition away from housing lending, as housing markets cooled, in favour of business lending.   In this environment, interest margins came under further downward pressure. Competition...
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Risky Australian Lending Targeted as RBA Spurs Housing: Economy By Narayanan Somasundaram and Michael Heath May 25, 2014 11:01 PM EDT  3 Comments http://mobile.bloomberg.com/news/2014-05-26/australian-regulator-warns-of-rise-in-higher-risk-home-loans.html An artist's impression of a residential development is displayed outside a construction site in the suburb of Eastwood in Sydney. The Reserve Bank of Australia, which has held its cash rate at 2.5 percent since August, has signaled the housing upswing was needed to spur residential construction. Australia’s banking regulator urged mortgage lenders to maintain standards as higher-risk borrowing rises and home prices surge amid record-low interest rates. The Australian Prudential Regulation Authority is “seeing increasing evidence of lending with higher risk characteristics and it does not want this trend to continue,” Chairman John Laker said in a statement. Draft mortgage guidelines released today reinforce “the importance of maintaining prudent lending standards when competitive pressures may tempt otherwise.” The Reserve Bank of Australia, which has held its cash rate at 2.5 percent since August, has signaled the housing upswing...
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  • doyla66
    doyla66 says #
    Dr Laker is trying to avoid being blamed for this latest bout of lax lending practices? Fact is, Dr Laker, this has been going on
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Mackers just loves targeting Asset Rich but (very) Income Poor ("ARIPs") because its lucrative business for them and shareholders BUT its amoral and fraught with RISK OF LOSING HOME in 7 short years.  Low Docs guaranteed to lose your own home in 5 years.  The Bank Sharks are back.   THE ugly side of risks to reverse mortgages – interest rates are higher than average and debt can quickly rise.  Ask BFCSA Members what they think Reverse mortgages back in vogue Australian Broker News by Calida Smylie | 14 Mar 2014   The move by two major funders to offer reverse mortgages again is an indicator the market is picking up since the global financial crisis, the general manager of a mortgage servicing company said.“When reverse mortgages coming back that’s when I know the market’s coming back. Because funders willing to fund reverse mortgages means the cost of funding is coming down and they...
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  • Denise
    Denise says #
    Dumb Brokers do not understand the product!!!! They sell them to their own parents! I know. Banks sell product to its agent bro
  • doyla66
    doyla66 says #
    disgraceful.. ad CBA is all over it!! It was only in 2012 that Sentinel had no money, until CBA came to the rescue....... In 2012
  • doyla66
    doyla66 says #
    Here we go again! Brokers door knocking their way to bonuses and overseas trips on the backs of the vulnerable ARIPs! Please every
  • Denise
    Denise says #
    Good One Mackers. You Bad Boys must be getting desperate. Vulnerable Senior Citizens targeted to release equity in the homes and
  • Denise
    Denise says #
    I hope Macquarie is telling their shareholders they are profiting from fraudulent high risk products. [email protected]
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Now the true warnings are about to appear on mass as everyone ducks for cover.  APRA has just woken up as to how Mortgage Fraud invades and destroys economies around the globe.  Welcome to the real world Mr Laker and the new guy.  Its been under your noses for 14 years..........Will you then say like American regulators: "we did not see this (GFC) coming?   BFCSA kept sending out warnings backed by the date.  ADI's is a fancy name for Major Banks. These APRA figures have been ditto back 10 years!!!!  97% LVR loans and also INTEREST ONLY LOANS to ARIP's.   Australian Regulators have been in SNOOZEVILLE for their ten year slumber party.  Where does APRA get its figures from?  THE BANKS of course.  Then Naylor blurts out that regulators are certainly aware of these issues.  Yes Phil and you were guilty of same covering up of true situation but...
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  • doyla66
    doyla66 says #
    Oh thankyou Mr Kusher. It brings me a great deal of comfort to know that “These mortgages are typically insured". What a relief
  • doyla66
    doyla66 says #
    Thanks to ASIC the Aussie dream of home ownership has been decimated - no longer called rags to riches and eventual security but a
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A Rollicking Read:  http://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/RP9697/97rp16 The Australian population is ageing. This increases the importance of assets to fund consumption in retirement. The Commonwealth Government has sought, through superannuation initiatives, to encourage private asset accumulation and thus to encourage reduced dependence upon the age pension in retirement. This has led to a shift in household financial assets into market-linked investments, meaning that households are bearing more investment risk than in the past. Improved financial advisory services and increased efficiency in funds management are thus required. The number of people working extended hours continues to increase. Thus, many people may now have less leisure time and less time available to manage their financial affairs. Such people will have a greater need for financial products which offer convenience and ease of access. At the same time, many consumers will experience greater variability in the timing of income. Those spending longer periods in education, those in...
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Fudging Figures became a way of doing business for Australian Bankers.  Bankers must think we all believe in the tooth fairy!  This week the ABA suggested the Senate Inquiry into the Federal Regulator, the wickedly lazy Australian Securities and Investment Commission, means there is no reason to suspect Bankers bad habits are under any cloud of suspicions regarding mega-fraud capers.  Do you believe the gall of these arrogant species of humanoids? ASIC will now be on the nose for NOT LOOKING INTO THE BANKS and, their increasingly tarnished image will be a right royal headache for its defunct media department.  Peter Kell, the master of attacks of the "will-bees"  (we will be doing something later this century) admitted this week that one of the minor problems they have is a rampant loss of staff.  He rationalised that just because a whistleblower blew a trumpet or two into the top floor windows...
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  • doyla66
    doyla66 says #
    New South Wales, Crimes Act 1900 section (316), concealing serious indictable offences. I hope the Senate will look into cases wh
  • doyla66
    doyla66 says #
    We must be the laughing stock of the world with our regulators. Fancy giving the banks a call to arrange a meeting, more like coff
  • doyla66
    doyla66 says #
    Caesar judging Caesar.........(1557 – 18 April 1636) . We haven't progressed much have we?
  • doyla66
    doyla66 says #
    The Regulators' cosy arrangements with their banker mates is disgraceful and worthy of a Royal Commission into Banking. However w
  • doyla66
    doyla66 says #
    "Porker of the Month": "FOA's"--"Friends of Angelo": Bank$ter programs of pollies covertly receiving "cheap-loans" for "favours",
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