GLOBAL SUB-PRIME CRISIS

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BFCSA
MORTGAGE
DISTRESS SOS

What BFCSA Does...

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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BFCSA Blog

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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Bloomberg agrees: Australian Banks’ Risky Loans Fueling House Price Gains By Nichola Saminather December 01, 2013 8:42 PM EST   Houses in Sydney Australia's biggest banks, whose lending standards helped the nation avoid a property crash during the global credit crisis, are raising concern with home loans helping to fuel record house prices. The proportion of mortgages that represented more than 80 percent of a home’s value -- the loan-to-value ratio -- rose in the third quarter to the highest since the second quarter of 2009, data from the banking regulator show. Mortgages in which borrowers pay only interest also increased to the highest in at least five years, according to the figures. The  Reserve Bank s 2.25 percentage points rate reduction in the past two years is luring buyers counting on home prices, which jumped the most in three years in the 12 months through Oct. 31, to extend gains. As the proportion of...
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  • Denise
    Denise says #
    My Dear Captain Haddock, yes its all for my own personal self grandiosement, that I help these people. You are not saying which a
  • doyla66
    doyla66 says #
    Denise, there is nothing here you have not said before. What is the total dollar value of all the loans you have looked at, as a
  • Denise
    Denise says #
    Bottom line Captain: Bankers intended to profit from the widespread effect of the Banker Engineered Fraud known as toxic loans.
  • Denise
    Denise says #
    Ah Dear Captain Haddock, Always a pleasure to spar with you over banks behaving badly, fraudulent lending habits, exaggerated inco
  • doyla66
    doyla66 says #
    Honesty, perhaps because they were not responsible for the fraud? Of course, if Denise was able to confirm the total balance of m
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For too long, World Leaders have been pussy footing around Banksters.  Fraud is a crime in anyone's language!  Altering people's financial documents, after they have signed and without their knowledge or consent IS A FELONY.  The result of this global activity has left millions of families homeless.  Bankers deliberately targeted the poor and defenseless, pensioners, low income families, with one objective.....for the banks to steal homes.   Teaching millions of bank staff around the globe, to assist with the crime, explaining that banks are immune from prosecution, that its OK to tweak bank documents to "make the deal fit" is legal according to bank lawyers: THAT IS GRAND LARCENY Not one of the 180 plus members of IOSCO (the global corporate chiefs) found the evidence to piece this together.  NOT ONE!!!!  Our own Greg Medcraft is Chairman of this tin-pot outfit!  Check them out:  www.iosco.org    International Org of "Ww have...
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  • doyla66
    doyla66 says #
    Remember folks the G20 and the worlds media converge on Brisbane next year, a few large well placed placards and some ordinary Au
  • doyla66
    doyla66 says #
    I wish the rest of the world were taking this scamming and ripping off of consumers as seriously as we are! This is Grand Larceny
  • doyla66
    doyla66 says #
    I dare say that if us ordinary mums and dads tweaked our loan applications and filled the application with lies, inflating our inc
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Bankers created the loans that are now the thorn in the side of ASIC regulators.  Banks were the engineers of the Products (Lo Docs and FULL Docs)  that became the catalyst for widespread lending.  I had one banker saying to me this morning "the fraud and forgery are irrelevant!"  Really?  I am afraid our members do not see it that way.  ASIC is trying to mumble it had no laws with which to prosecute banks pre 2010.  That is false - hence the High Court and six other similar cases were won by consumers (albeit with funding) against THE BANKS>  The Brokers were irrelevant in the fraud and forgery as the fact remained according to Judges that the Banks had a duty to reject unaffordable loans.  They had that obligation under the Banking Code of Practice.  Non Bank Lenders who are not members of the code (but ASIC does not warn the public of that minor problem) must...
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  • doyla66
    doyla66 says #
    Thankyou, Denise. Blow them away with the truth of their own words. It's looking more like a conspiracy now. ASIC supervises and
  • doyla66
    doyla66 says #
    I dont care how many times ASIC try to fob the blame off on someone else apart from their Bankster Mates, its the Banks and no one
  • doyla66
    doyla66 says #
    Robert, go with BDM. It's ALL just one GIANT sham. In my case, 2 distinct "episodes" of bank-fraud took place. The 1st, a 'garden
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‘Loan fraud’ – but no investigation 30 August 2013 By Forensic Accountants Consumer activist Denise Brailey has countered claims from the corporate watchdog that she had failed to provide documents for them to investigate low-doc loan fraud. Australian Securities & Investments Commission deputy chairman Peter Kell told Fairfax Media and the ABC this week that ASIC had invited Ms Brailey to “provide evidence of the systematic loan fraud she alleges”. “The very limited material provided to date simply does not support any of the claims she makes,” said Mr Kell. However, Denise Brailey has confirmed that more than 100 of the members of her action group, all alleging loan fraud, had filed complaints with ASIC only to receive a form letter saying there would be no investigation and advising them to get a lawyer. ASIC turns down request BusinessDay has contacted many of the borrowers to confirm this. The borrowers, many...
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  • doyla66
    doyla66 says #
    Unbelievable the arrogance and stupidity of ASIC! As if anyone believes their self-defense! ASIC don't want to investigate this b
  • doyla66
    doyla66 says #
    Mr. Kell may need to have his eyes tested. Perhaps he is suffering from selected dementia. Just what do you want Mr. Kell.? Just h
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The hits keep on coming from around the world and guess what we have now discovered?  United Kingdom, New Zealand, Indonesia, Ireland, whole of Europe including Italy, Spain, Iceland, France and Greece, South Africa, the United States and so many many other countries.  No doubt China and Russia are included.  We have yet to make contact with those people all though they are watching (see cluster map).   BFCSA has now alerted other nations that NO ONE RECEIVED COPY OF LOAN APPLICATION FORM at point of signing.  Bank Fraud is everywhere - Global problem, exposing the obvious corruption inside Governments that all our over-bloated and overpaid moron regulators were "unable to find any systemic issues!!!!   The proof of widespread raping and pillaging of bank accounts, savings and assets by EVIL BANKSTERS is a Global Crisis is contained in the hidden documents.   The clue is to KNOW WHAT DOCS TO...
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Would you like to blow the Australian Securities and Investment Commission ("ASIC") out of the consumer protection arena?   Here is what you do............................. The most IMPORTANT THING RIGHT NOW…..the most important one page you will ever write: A “submission” is a one or two page letter to the Senate Committee.  Pleases write a submission to the SENATE INQUIRY INTO PERFORMANCE OF ASIC. If you just write why you think ASIC should be banned as consumer protector……………..TELL THEM YOUR STORY and why being left with a barrel of debt is not good for the Economy....................why losing your home is not good for the housing market..................why financial ruin is not good for your family and why ASIC knew what was happening 10 years ago yet failed to protect consumers. If consumers had been warned of the Low Doc Mortgage scandal, the promissory note scandals, two tiered marketing scandals, Managed Investment Scheme scandals, Creating Wealth...
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  • doyla66
    doyla66 says #
    So right ... no spectre of an ASIC phoenix rising from the ashes of ASIC or any of its previous incarnations. Consumer Protection
  • doyla66
    doyla66 says #
    Lisa; professor says co-regulatory approach of FOS & ASIC where ASIC oversees FOS & has intervening powers is a successful-model w
  • doyla66
    doyla66 says #
    The ASIC FOS connection is good in theory. In practice if ASIC have quick access to this information what are they doing with it?
  • doyla66
    doyla66 says #
    Thanks Denise; just a simple 1-2 page submission to Committee will save our health, our dignity & our home-many others homes, inve
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