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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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Subscribe to this list via RSS Blog posts tagged in Service Calculator Crimes
The Big New Year warning for 2015...NO TRUST or confidence should be attached to Bankers and Bank Financial Products such as mortgages and credit cards unless you wish to become one of tens of thousands of "slaves to bank debt." These iniquitous bank products have no financial escape - only financial ruin. I am consistently asked: can you recommend a good financial planner.  It is my job to tell the truth and warn consumers the fraudulent mortgage and credit products are engineered by the four major Australian Banks.  If you are thinking of applying for a loan you suspect is unaffordable from income and may not last for 30 years, the answer is simple: no matter what strategy that sellers are trained to convince you that this loan is affordable  the truth is its a bank engineered scam of magnificent proportions - all states in  Australia. A couple ask: Dear Denise, There are plenty of...
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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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Broker comments from Australian Broker News: Everyone knows that the lenders serviceability calculators are a joke. Get real and service each loan to each individual applicants own circumstances. and this from Broker to RAJ VENGA as CEO of COSL   But Raj, you forget that profit is king, not prudent lending or responsible lending. Now let's sit back and wait for the backlash from lenders and others telling you to butt out. and this: COSL's warning should be heeded as it's the broker in a few years time who will get the first call when rates go back up to the high six percent and borrowers can't pay, and it's the broker who will go through an agonising COSL investigation process to clear their name. From MY Desk:  This email address is being protected from spambots. You need JavaScript enabled to view it. NOTE:  DO NOT WRITE TO RAJ as he will say two thirds of our complaints from borrowers are fraud by our lender...
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  • doyla66
    doyla66 says #
    This sounds a lot like sabre rattling ie. don't push it because brokers and borrowers will get the blame. All the important people
  • doyla66
    doyla66 says #
    it doesn't help when COSL case manager (a Lawyer) writes and confirms this again over the phone that .... "We note that La Trobe
  • doyla66
    doyla66 says #
    Change, COSL should "white label" itself under "Claytons-EDR" serving a Claytons-Code-of-Non-Ethics, practicing FSP mortgage fraud
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Banks Shredding Evidence has become a Global Phenomenon - a master grand slam.  Like the raising of the Costa Concordia, the Banks have no plan B and have been left with their pants down.  In the United Kingdom and Ireland, no victim of toxic loans has been told by regulators or support groups to obtain their Loan Applications Forms and why.  I have been fielding international calls from distressed mortgage holders the past couple of months. No-one knew these documents existed.  Nor did they know the Service Calculator was used to have the bank program fudge income figures.  The Brokers did not pluck figures out of thin air, as global regulators (members of IOSCO) would have the world believe!   Now Medcraft is in charge of all Security Chiefs around the world!  What is going on??????  Charles Ponzi must be chuckling around Bank Heaven...................................double up in LAFTER.  The LAFs were hidden...
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  • doyla66
    doyla66 says #
    Medcraft probably runs the ALP behind the scenes.....something stinks!!
  • doyla66
    doyla66 says #
    This bloke is a gangster he has set up the scene for the perfect crime to be completed by his crooked mates. The ALP put this blok
  • doyla66
    doyla66 says #
    It's a world wide con job - similar problems, similar methodologies. When there's enough evidence of this around the world what w
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