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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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ANZ & Westpac have been undertaking  their own in house LMI since well before 2007 What you need to do is bury a level deeper than this. Look instead at the capital requirements for Lenders Mortgage Insurance providers (AGN 112 I think). Look at how APRA watered down the capital requirements on LMI providers post their consultation papers, with only 1 real LMI provider in the market.  Look at how much capital APRA makes LMI providers set aside for the riskiest of risky mortgages it insures for the banks.  Remember these are the mortgages that people take insurance out against because they don’t have the cash for a decent deposit.  Then the banks take this risky mortgage insurance and use it as a credit mitigant to offset the cost of their capital.  Talk about insurance leverage, on bank leverage, on an asset bubble ( housing ), geared to a leveraged commodity...
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  • doyla66
    doyla66 says #
    It is my understanding that they have already (very quietly) imposed a .1% levy,charge, tax (insert your own definition) on ALL sa
  • doyla66
    doyla66 says #
    Yes sneaky things going on behind backs and bail-in I believe selected from the menu so everybody better check out this site and c
  • doyla66
    doyla66 says #
    A terrifying proposition, the Australia Financial Industry leveraged to the max. Property build on a foundation of champagne bubb
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