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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 RMBS Toxic Bundles
After reading this article yesterday, I am shaking my head with disbelief and so must the writer be doing so.  Macrobusiness is on the money here with Leith van Onselen's words of wisdom and quotes from Guy DeBelle: "In short, Australia should be wary of the unintended consequences of increased mortgage securitisation, and the re-emergence of sub-prime loans in particular. Previous episodes have led to a significant loosening of credit standards.........................." Who are the dumbo's buying these loans?  40% overseas buyers?  Really?  Income streams as an "asset" when sub prime means "little or no income...... and definitely involves FRAUD BY SERVICE CALCULATOR"  This is going to only end in tears - yet again!  Where is the Government?  Having a 12 month Easter break?  I will send this article out to all the PEPPERS, CBA and NAB victims of dodgy toxic sub prime loans we are currently looking after......................so these Mums and Dads can...
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Another Reader - from Ali Absolutely spot on Robert. You hit the nail right on. The need to come away from selfishness and greed is a must in order to amend the financial, physical, and mental damage and return to better times. I just hope it won't be too long before some media outlet picks up and leads the way to exposing the truth around this shocking injustice brought upon the innocent and unsuspecting public. We the victims should have our fraudulent loans extinguished right away. We should not have to wait until someone in Government is willing to sort out the mess. This could take years and we just want to get on with our lives. It is so unfair to keep us imprisoned in this way as if we were the guilty ones. Bring on our deserved freedom.... ED:  One wonders why Bankers responsible for the dreaded SERVICE CALCULATOR are not IN...
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  • doyla66
    doyla66 says #
    One does have to be Poirot or Agatha Christie to work out what is going on with an ex-banker at the helm of ASIC and a bank heavy
  • doyla66
    doyla66 says #
    Nab managed to retrieve files and documents from 1972 from their files. Mind you I had seen our original files from our country b
  • doyla66
    doyla66 says #
    Yes of course the files are missing because they have been shredded in order to hide the evidence of fraud committed by the bank o
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Every case of FRAUD BY LENDERS must be investigated.  The Australian Securities and Investment Commission ("ASIC") cannot be permitted to just pick and choose and then not investigate any LENDERS. That in its self is a crime.  ASIC has acted like its own brand of mafiosi.   FRAUD BY BANK MANAGERS RUNNING AT 36% of all loans surveyed by BFCSA.  There has to be an immediate response by The Australian Federal Government as to why FRAUD in lending is systemic and why they tolerate ASIC's systemic untruths. If we commit fraud on a document we the people,  would be tried in criminal court and sent to jail.  If the Banks/Lenders commit a $57 Billion FRAUD, two bank porters crack their knuckles whilst ASIC pay a visit for a free lunch!!!!  Australia needs to prepare for more revelations about our own simple brand of SUB PRIME CRISIS - playing NOW at a BANK...
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  • doyla66
    doyla66 says #
    Why was SENRAC, Bank of Queensland and Macquarie not CRIMINALLY charged like the brokers of recent for similiar allegations, (excl
  • doyla66
    doyla66 says #
    Don't be surprised if it works the other way as well - favours for ASIC by Bankster mates. Banksters don't want the tame regulato
  • doyla66
    doyla66 says #
    ASIC know what is going on. This is massive and of monstrous proportions. ASIC do not want their incompetencies shown for what it
  • doyla66
    doyla66 says #
    ASIC is spending more time finding excuses to protect their Bankster mates than they are protecting the people who pay their taxes
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Hi Anton.  Joe Hockey's Mother in Law.  If the bubble bursts, then yes, Shareholders opf Major Banks (85% Low Doc market share) have been given fudged figures as to the true exposure to bad practices and toxic lending ie 36% of TOXIC loans created by Bank Officers - no broker involved.  ASIC say 97% of brokers are hard working good guys - we agree.  Banks tell Parliament "only 1% of loans credit impaired"  That is plain rubbish.  Banks telling lies to APRA and Parliament?  APRA's figures to Treasury are gleaned from only one source and left unverified.  Figures come from trusted banks and are not cross's analysed!  Do shareholders know this?   Indeed, I raised the RMBS issue in Parliamentary Senate Inquiry into Banking Post GFC, last year (8th August 2pm) that "Government cannot profit from fraud..."  Treasurer Swan acted soon after and shot down "our most profitable policy of purchasing RMBS."   Treasurer Swan realised...
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  • doyla66
    doyla66 says #
    My main worry is that once Mr Hockey announces his decision to have the industry investigated it could be a sharp fall in record t
  • doyla66
    doyla66 says #
    After reading everything I have read on this site I am convinced that where there is smoke there is definitely fire. Once Mr Hocke
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