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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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Posted by on in RMBS SECURITISATION
    I'm not sure if this has been posted before. If you go to this AOFM page http://www.aofm.gov.au/content/rmbs.asp and click on the AOFM participation in RMBS transactions it will give you an updated list. ...
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  • doyla66
    doyla66 says #
    Thanks for the Securitisation information in RMBS explained.
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For years Gadens have had the lion's share of the action in the Australian Mortgage Fraud. It is a matter of public record that they have defended the perpetrators of Fraud, orchestrated the bullying and repeated efforts to intimidate blameless and innocent home owners and witnesses to the Court hearings all in the name of "Justice" - and been allowed to get away with it by some of the "bank blinded" Australian judiciary! If you'd like a few samples of Gadens' handiwork on behalf of NAB, Bank West, Ing and others use the BFCSA blog search engine or see austlii.edu.au Gadens aren't the only lawyers willing to do this type of work.  After all this BANK SCAM has been going on for years under the watchful eye of both major Australian Political Parties. All borrowers and BFCSA members should check their documentation and report in with a list of all legal...
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  • doyla66
    doyla66 says #
    Sorry Gaby - I worded that wrong. I was just actually was refering to our case only and the issues that have arose from it. As exp
  • doyla66
    doyla66 says #
    We have now two law firms. (There is five in the group- so have spilt it up). One barrister via one firm use to represent the bank
  • doyla66
    doyla66 says #
    You can add HWL Ebsworth Lawyers and Leonard Legal, both from Melbourne to the list
  • doyla66
    doyla66 says #
    Gadens execs are very short sighted. Once the massive fraud, theft and corruption of Australia's banking sector really hits the fa
  • doyla66
    doyla66 says #
    Ah! but Cooper's Grace and Ward were Hunt and Hunt's franchisee in Brisbane,in 2006 Hunt and Hunt dropped them,one has to wonder w
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David Collyer was right. Denise's evidence and assertions are based in many years' research. There is no room for speculation in the black and white of her evidence. It's FRAUD. What is more it is intentional, premeditated and well organised systemic fraud. How can the regulators and the politicians deny the facts and keep their credibility? They can't. Further evidence has been revealed since the initial hearing at the Senate Inquiry. It underlines the even greater need for a Royal Commission. The Australian public want the truth. Investors want the truth. Borrowers want the truth. Our international reputation is also under scrutiny. Surely it is part of the job description of any chief regulator or parliamentary representative to supply informed, well-researched answers not off the cuff comments based on assumptions and their own opinion in order to protect their jobs! They are paid handsomely to supervise and ensure the stability our...
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  • doyla66
    doyla66 says #
    Thankyou Carol, Andy and Peter. Our parliament is handicapped by the past and by their party political histories. Those days are
  • doyla66
    doyla66 says #
    What an Increditable post Lisa, every one of our weak and gutless politicians,heads of APRA, ASIC,COSL, FOS and Federal Police sho
  • doyla66
    doyla66 says #
    Watch this Space: Vote[1]LisaMartin Vote[1]DeniseBrailey - perhaps sit opposing sides "broom the middle"(save the worthy/repentant
  • doyla66
    doyla66 says #
    Politicians and bank executives take note: KNOWING & FAILING TO ACT IS A FAR GREATER CRIME. If you work in a bank and can provide
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Pay up every last $ of your debt to our community - hand back every home that you have stolen by trickery and deceit. Just as you systematically raped pillaged and plundered vulnerable people's bank accounts and deliberately set up a plan to steal their houses and wipe out every bit of their financial security, I decided to come after each one of you.  It may have taken me over a decade to discover the mechanics of the fraud and the plan to blame brokers, and the plan to walk away scot free with $100 million bonus packs........but your plans are now unravelling. People ask me why I do what I do?  Why I continue to assist people and listen to cries for help and respond.  The answer is simple:  I was blessed with  decent parents who taught me right from wrong.  Your Banker Plots were more than EVIL.   The CARTEL grew as regulators became used to accepting lavish...
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  • doyla66
    doyla66 says #
    So saddened to hear the news. We all need each other to be strong. Blessings and Prayers.
  • Denise
    Denise says #
    Thank you to everyone who has expressed condolences. I will find out progress and hope she is back blogging again better than eve
  • doyla66
    doyla66 says #
    Bank executives must go to JAIL. Take back THEIR HOUSES, take back their bonuses, take back their paypackets. They cannot profit
  • doyla66
    doyla66 says #
    I'm so sorry to hear another one has reached the bottom and felt there was nowhere else to go. I bet there are a lot of us out the
  • doyla66
    doyla66 says #
    I feel phsically sick to know that one of our members has reached such a low ebb that taking their own life seems like the only wa
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Posted by on in Corrupt Regulators
Cassimatis may have another story to tell - think outside the square. Do you really trust ASIC????? Why aren't ASIC prosecuting CBA, for approving the loans????  Did the bank officers pump up income on LAFs even higher???? We think so.   So we are now seeking the truth.    Why is ASIC taking the adviser to court?  What about the Bank secret weapon - the engineered Service Calculator?  Which BDM's taught brokers to target "older persons?  ARIP's?  ASIC could have prosecuted all banks involved in 2008........why now? You want the truth?  Follow this saga carefully........... This email address is being protected from spambots. You need JavaScript enabled to view it....
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  • doyla66
    doyla66 says #
    ASIC are "big" on the contractual issues (Contract Law). Is this the extent of their capabilities or an ASIC policy? I have anothe
  • doyla66
    doyla66 says #
    Thank God you understand what we are up against it trying to get justice jaycee
  • doyla66
    doyla66 says #
    That is right ASIC - expose them only for MIS and not for LAF fraud. If you did that then AOFM would have to check unregulated RBM
  • doyla66
    doyla66 says #
    Did ASIC do inventory of bankster 'used' white-out bottles or criminal audit of 1000's of full-doc LAF fraud committed by 'real' b
  • doyla66
    doyla66 says #
    Thanks for the insight. Can understand now.
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Posted by on in Consumers Fight Back
Dear Mr Abbott Your response to Mr Styles is grossly inadequate given what is occurring in the Senate.  I can only assume the Minders have not briefed you on this issue.  Quite simply you are either on the side of the Constituents or on the side of the Banksters.  You are on the side of looking for truth or you are on the side of those who would corrupt our political system.  You are on the side of 100,000 families caught up in the greatest banking scandal in our Nation's 232 year history, or on the side of regulators who blatantly lie to the Senate.  Please ask your colleagues in the Senate to brief you on what is going on up there and take a stand.  Someone has to be on the side of the people, surely? Two of the Families who went through 8 years of agony to win in the recent High Court decision, are your constituents.  I think Johnno...
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  • doyla66
    doyla66 says #
    Excellent Wayne, i agree we need the response to come from him - so just need to keep hounding him and the pressure will ultimatel
  • doyla66
    doyla66 says #
    Well done Wayne, fantastic reply - did you send it to him??
  • doyla66
    doyla66 says #
    Hi Ali - yes - I sent the reply to Tony Abbott on Sunday 23rd Sept. I am looking forward to a proper response from the man himsel
  • doyla66
    doyla66 says #
    Dear Mr Abbott, Is your reply a joke ? If it is, then we can assure you that it is not in the slightest bit funny. We are aski
  • Denise
    Denise says #
    LIST of questions we think the Opposition needs to be asking the Federal Government. Opposition Major Party's job is to ask quest
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Posted by on in RMBS SECURITISATION
September 19, 2012 11:15AM       THE Australian government has sold $800 million of April 21, 2024 Treasury bonds. The Australian Office of Financial Management (AOFM), which conducts bond auctions on the behalf of the government, said the bonds were sold for a weighted average yield of 3.4575 per cent. The sale attracted bids totalling $2.890 billion, giving a coverage ratio of 3.61. Read more: http://www.news.com.au/business/breaking-news/aofm-sells-800m-of-april-2024-bonds/story-e6frfkur-1226477162740#ixzz2746708nP...
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  • doyla66
    doyla66 says #
    Great work Lisa..!! Keep it up.
  • doyla66
    doyla66 says #
    Thanks, John. I thought this might be relevant. I'm waiting on the transcript for the hearing today.
  • doyla66
    doyla66 says #
    Very good Lisa. You have a great knack. I checked Melbourne news sites, Age, Herald Sun too. None have found this story yet
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  29 Jun 2012 - Good reading and video at: http://barnabyisright.com/2011/06/29/rba-says-our-banks-are-stuffed-in-other-words/#comments   Yesterday, RBA Assistant Governor Guy Debelle indulged in some MOPE.   Management Of Perceptions Economics.   Lies, deceit, and propaganda, in other words.   But for those with an ear to hear, and an inclination to check the “authorities’” claims, what he really did – unintentionally – was to give us a heads up.   That our Too Big To Fail banks (TBTF) are going to get bailed out, sooner rather than later.   Go grab a modest quantity of your favourite beverage, and settle in.  You are about to learn – in detail – why we cannot trust a word the banksters say.   Ready?   Now as expected, the mainstream press all lazily parrotted the “everything’s fine, move along, nothing to see here” headline that Mr Debelle wanted. Here’s a good example, from the nations’ “premier” newspaper:...
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  • doyla66
    doyla66 says #
    "why is the Australian taxpayer on the hook to backstop the banks?.." Why not change this scenario around in favour of the tax p
  • doyla66
    doyla66 says #
    Lisa, 'you're a woman after my own heart', but would you be employable to the press? Hmm, let me think......computer says, "no" r
  • doyla66
    doyla66 says #
    A big read Lisa. Keep them coming.
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I rise tonight to talk about what I consider to be the greatest oxymoron in Australia at the moment—that is, ethical banking. I wish to relate some of my experiences during the early 1980s when my family were involved in a foreign currency loan in Swiss francs. We drew down the loan in January 1985. Shortly after that, we saw the depreciation of the Australian dollar. There was only one way to protect yourself from those loans and that was to hedge your loan. I went to my bank manager, Peter Neil—a good man who lives out here near Goulburn these days—and requested that I hedge my loan. He informed me that I could not, that that would change our currency and you could do that only at rollover periods. The rest is history because Mr Neil was wrong. The bank had not trained their staff properly and it led to...
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  • doyla66
    doyla66 says #
    Bank Managers,used to be pillars in the community,revered, respected.Mr Williams by virtue of the fact your bank manager never sig
  • doyla66
    doyla66 says #
    You're right about banks being sales, sales, sales. That's what happened in the US as well. I've read about and listened to inter
  • doyla66
    doyla66 says #
    Honesty, my guess is that the bank manager would have been told by the bank legal people not to sign his statement.
  • doyla66
    doyla66 says #
    You are a good man for speaking the truth Senator John Williams. I urge all politicians to support him and have the integrity & m
  • doyla66
    doyla66 says #
    Thnak you Senator Williams you give us hope!
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"A Royal Commission into the Australian Banking Sector is our democratic right. To deny us that right is truly unAustralian."   There are many strong arguments in favour of holding a Royal Commission into Banking with wide terms of reference.  One of the side effect of the Royal Commission is its capacity to bring the issues into every Australian home through the main stream media. This in turn will generate far greater awareness of the serious anomalies and inherent risks within the Australian Financial Sector. It may also answer the questions for so many Australians whose lives have been smashed by the deregulated "free market" Australian Financial Sector, directly and indirectly, including the big ones: Why weren't we told? How could this be allowed to happen in Australia? Consumer protection isn't for just for the elderly - it benefits all Australians. We've been badly misled by those entrusted to protect us,...
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  • doyla66
    doyla66 says #
    Yes, infestation of "Mainstream" banking Full-Doc products must be a game changer & raise the necessary eyebrows , if not, the cur
  • Denise
    Denise says #
    Thanks for your kind thoughts Hugh. I met with Geoff in Canberra and also other members and they support our efforts and our peti
  • doyla66
    doyla66 says #
    Hi Denise & BFCSA Members, Why not join forces with Unhappy Banking, link together to call for the Royal Commission? More Support
  • doyla66
    doyla66 says #
    Good idea Hugh. UNHAPPY BANKING also has good evidence about the BANKS FRAUDULENT activities.
  • doyla66
    doyla66 says #
    Hi Denise & BFCSA Members, Why not join forces with Unhappy Banking, link together to call for the Royal Commission? More Support
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Posted by on in Corrupt Regulators
  By Caroline Dann | 5/09/2012 The Bank of Tokyo-Mitsubishi UFJ is in discussions with several second-tiers about funding Australian home loans.   According to the Australian Financial Review, AMP is currently in talks with the bank about its funding.     It's alleged The Bank of Tokyo-Mitsubishi UFJ will provide bank funding through a 'warehouse structure' which, according to the AFR, is "refinanced by issuing residential mortgage backed securities to institutional investors."     In theory, it could increase the lending power of second-tiers and increase competitiveness between the banks on home loan interest rates.     Japanese banks are increasingly interested in the Australian market.     In July, Sony Bank announced its intentions to launch in Australia following a 'feasibility' study....
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  • doyla66
    doyla66 says #
    If our efforts to challenge the legality and safety of RMBSs gets traction then this should stop this additional overseas effort i
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Posted by on in BANKSTERS
  The Australian Financial Review recently mentioned Commonwealth Bank (which Nomura’s figures suggest might be most able to wear the dilution of a bid) as a possible contender for Stanchart. So why do we think there’s something to this? Read on..: http://www.macrobusiness.com.au/2012/08/cba-to-buy-standard-chartered/ The big 4 banks' home loan market maybe on the brink of a slowdown ... It's an opportunity for to expand beyond the home loan market ... Note: Fig 10 showing gross loans - geographic mix "You have to ask yourself what regulators would make of it, given they’ve said no big risks for Asian expansion are acceptable for Australian banks. Having said that, you can imagine the kind of pressure that would come to bear on APRA from all quarters if this deal became real. It would be enormous."    ...
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  • doyla66
    doyla66 says #
    If I were CBA or any of the Big 4 I'd be pulling in my horns and cleaning up my act - big time. There are going to be some signifi
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  http://www.macrobusiness.com.au/2012/08/q2-rmbs-arrears-mixed/ Posted by Houses and Holes in Banks on August 31, 2012 | 3 comments -  "Where does this sit with Denise Braileys work, and 100000 people affected by dodgy low doc loan practises? Are banks hiding defaults?"  EDITOR:   Yes they certainly are and a point I raised in transcript.......APRA reacted next day and asked banks for updates!!!  More lies!  Government needs urgent AUDIT into FULL DOCS, LO DOCS AND NO DOCS......     From Moodys:   Sydney, August 31, 2012 — The prime 30-plus arrears rate remained steady in the second quarter at 1.66% in June, and unchanged from March. In addition, the rate has not moved much from the same period last year when it was at 1.67%. While the overall index is at 1.66%, considerable variation exists within the market. Historically, major bank deals have performed better than those of non-major bank ADIs (i.e. other ADIs), which have, in turn, outperformed non-ADIs....
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  • doyla66
    doyla66 says #
    I can see the heads of all the regulators being moved on - the sooner the better! They presided over the cover up. Australians don
  • Denise
    Denise says #
    Like everything else in this sordid tale of bankster pillaging, the figures have been hidden or skewed. I mentioned in Parliament
  • doyla66
    doyla66 says #
    Is there any way of getting stats on the homes repossessed, sold under duress, sold out of fear of default and banks etc? ie. the
  • doyla66
    doyla66 says #
    of course its much worse than they reveal but dont forget to take into consideration all the homes they have already repossessed a
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  NAB Class Action  Legal action by shareholders against National Australia Bank Limited is being considered to recover losses suffered as a result of alleged non-disclosures. The non-disclosures relate to NAB’s exposure to toxic debt in Collateralised Debt Obligations (“CDOs”). Frozen credit markets were forcing financial institutions to make huge provisions on CDOs from at least October 2007. Why did NAB take so long to writedown the value of its CDOs? Did NAB keep the market informed of all information which it knew or ought to have known was material to the price of its shares? Maurice Blackburn Lawyers is investigating a potential class action against NAB on behalf of shareholders who purchased or acquired an interest in shares between 1 January 2008 and 25 July 2008. By August 2007 concerns regarding the US subprime sector had broadened into a more general credit crisis. In the latter half of 2007, as credit market liquidity froze, major financial institutions announced huge write-downs across CDOs and significant losses.   NAB’s CDOs As...
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        I'm wondering how many of our political representatives, people in regulatory organisations, key personnel in industry representative groups and superannuation funds have invested in Residential Mortgage Backed Securities? Or banks?  How would most people know where their money was invested when they give it to a fund manager, MIS or superfund scheme?  It would stand to reason that people in powerful positions could be influenced by their investments and self-interest.  Is it possible that any of them received RMSB investments as 'gifts' from the banks? Is it possible that any of them have no idea, forgot to look or failed to declare their or their company's, family's, trust's investments in RMBS?   I understand there is a register of the assets and investments held by our parliamentarians. Does anyone know where to find it? Is this open for public viewing?  How does this essential area of transparency and...
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  • doyla66
    doyla66 says #
    I laughed quite a lot at that picture - it is simply terrific - says it all doesn't it
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  This is an interesting historical article on perceptions about Australian RMBS. It certainly pays to be informed about risk in the marketplace.   by Hardeep Dhillon     In terms of collateral, the Australian residential mortgage-backed securities market has performed better than its peers for several years, thanks mainly to its blemishless default history. After a post-crisis slump, a revival of domestic issuance is under way; but it could take much longer for cross-border transactions to follow.   The peak came in February 2007 with the A$7 billion ($5.5 billion at time of issue) multi-currency transaction by Commonwealth Bank of Australia, via its Medallion programme. As well as being the largest RMBS by an Aussie borrower, the deal set a new pricing benchmark, with the most senior US dollar-denominated notes offering a pick-up of just 4 basis points over Libor. Around that time, spreads on deals from the three other banks...
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  • doyla66
    doyla66 says #
    This bank has publicly issued over $9.5 billion of RMBS since 2003. Through our RMBS program we currently manage the collections
  • doyla66
    doyla66 says #
    "Australian Banks have full recourse to the borrowers" yep they sure do,they can take our houses,this is unconscionable,and they h
  • doyla66
    doyla66 says #
    I'm looking forward to seeing the list. There is no excuse for politicians who might think they can avoid the issue. There are c
  • Denise
    Denise says #
    Brilliant find LISA Yes we are all receiving an amazing education over all these banking products and skull-duggery. We are also
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Dissecting RMBS Fraud in Action This information is courtesy of Thomas Anderson of www.theclassifiedfiles.com. This notice from WESTPAC Australia might seem innocent enough. It’s just a public notice...right?  Let’s dissect the fraud that is happening right in front of your eyes. [Color variations and bolding are the author's to show several named companies.]  ~~~~~~~ PUBLIC NOTICE WESTPAC MORTGAGE SECURITISATION DISCLOSURE In the interest of public awareness and to ensure that Mortgage Holders with Westpac are given full disclosure of the details of their loans, please be advised of the following announcement: Westpac Banking Corporation in association with JP Morgan (Australia) Limited, Perpetual Trustees, Waratah Receivables Corporation and Westpac Securitisation Management Pty Limited have been involved with a number of Residential Mortgage Securitisation programs including: Series 2002-1 G WST Trust Series 2007 - 1G WST Trust Progress 2010-1 Trust (AMP Bank) REDS Trust Series 2010-1 (Bank of Queensland) Torrens Series 2010-1 (Bendigo and...
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  • doyla66
    doyla66 says #
    Good one STM. I think that the CBA have just sent me confirmation that my loan has also been securitised. It was just a single 1 p
  • doyla66
    doyla66 says #
    Sounds like the plot of the movie "Too big to Fail movie" - but this time - the Australian version
  • doyla66
    doyla66 says #
    I'm glad STM explained it. What Westpac wrote was a bit rough on any mortgage holder that was starting from ground zero in RMBS 10
  • doyla66
    doyla66 says #
    Reading it twice, this is a real class find by STM. I hope one of my fellow bloggers will follow this one (I would if I didn't hav
  • doyla66
    doyla66 says #
    Another good one STM
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Securitisation - Australian Residential Mortgage Backed Securities
  This looks like the sales spiel for exporting our financial services overseas.  Page 8 ... "Strong Rule of Law"... In short the borrower bears the full responsibility for keeping the whole thing afloat.  It all sounds rosy - we know it's not.  Our ratings status has been downgraded based on the "housing bubble" information, dropping values, rising LVRs, possible reclassification ...  There is considerable information on the AOFM site about the doings between the government and the RMBS investment.  http://www.aofm.gov.au/content/rmbs.asp   I've been looking everywhere for a list of investors or countries who have in effect loaned Australian lenders money on this basis. Can't find it ... What happens when the "investor" in the Australian RMBSs decides to get out of the deal?  What security or guarantees does the Australian government have, and by default each one of us?  What security do we as home owners/borrowers have?  Most of us...
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  • doyla66
    doyla66 says #
    Minimum: banks must do LAF veracity checks on defaulting home-loans = ascertain true LAF facts from borrower!!!
  • doyla66
    doyla66 says #
    I was watching a video with Governor Jesse Ventura quizzing bank top dogs about their distorted values and lack of accountability.
  • Denise
    Denise says #
    What of the funds came indirectly from Superannuation DIY funding - via bank investment products????? More lovely fees. It also me
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By Larry Schlesinger  Monday, 20 August 2012 http://www.propertyobserver.com.au/mortgages/banks-negligent-and-reckless-with-low-doc-loans-denise-brailey-in-senate-testimony   Most of the low-doc loans banks provided to borrowers would have been rejected if they had made a "simple phone call to the borrowers”, banking consumer advocate Denise Brailey has testified before a Senate inquiry into behaviour of the banking sector post-GFC. But she says banks chose “in a corporate decision” not to make this phone call to ascertain the true financial circumstances of the borrower. Brailey, who runs the Banking and Consumers Finance Support Association (BCFSA), brought with her to the inquiry a “small bundle” of 4,000 “falsified loan applications", which she said includes applications to every bank in Australia. “The four majors are in there. “They are all responsible, through a series of emails from banks to brokers, instructing the brokers how to get their deals across the line — 'make the deal fit' was their usual interpretation." Brailey’s views...
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  • doyla66
    doyla66 says #
    They must realize by now the 'people' are coming to get them. Best they put their hands up!!! EDITOR: We have the numbers - so m
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You presentation was amazing and strong. You proved that truth and decency have a power beyond belief. Your words rang out the death knell for the lies of bankers and their lawyer mates. I knew you'd do it and you did. Thankyou so much for taking on the Senate, Banks, Law, ASIC and all today. No more "business as usual" banking. A Royal Commission into Banking is coming. Lisa xx      ...
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