GLOBAL SUB-PRIME CRISIS

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BFCSA
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 Sub Prime Mortgage Crisis
What a thoroughly dishonest man is Meddlesome Medcraft, Chairman of ASIC and IOSCO.  This is just plain balderdash!  Mortgage Originators are under orders from Four Major Banks and the regulator is captured by the same TOO BIG TO FAIL FOURSOME.  Ask any victim of mortgage fraud.  The fraud and forgery is carried out INSIDE THE BANKS via the processing channel using a wicked serviceability calculator that is used for fudging figures and with a note: NO COPY TO BE GIVEN TO CUSTOMER............Go Figure! Securitisation to fund real economy, says Medcraft Wednesday, 12 November 2014   IOSCO chairman Greg Medcraft has called on Australian banks and RMBS issuers to recognise the “integral role” that securitisation can play in financing the real economy. Speaking at the Australian Securitisation 2014 annual conference in Sydney yesterday, Mr Medcraft said securitisation has funded the economy in the past, very successfully in Australia, and has the potential...
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  • Susan
    Susan says #
    MORE securitisation? How can Securitisation fund the 'real economy' when the money that is supposedly generated through the secu
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Our Members have now amassed 1500 plus dirty Mortgage Liar Loans including UNVERIFIED FULL DOCS.  ASIC culture permitted banks to continue as normal.....................knowing ARIPs (Pensioners who owned their own homes) were being maliciously targeted by criminals in the Australian Banking Sector.  ASIC Former investigator tells us why ASIC developed sub-cultural problems.  We know the turnover of staff down there is nauseating!  ROYAL COMMISSION into Banking Sytem urgently required.   This email address is being protected from spambots. You need JavaScript enabled to view it. http://www.investordaily.com.au/36114-asic-public-service-culture-criticised ASIC Public Service culture critiscised 22 August 2014 Friday 22nd August 2014 A former ASIC staffer has taken the corporate regulator to task for its “heads on sticks” approach that has prevented it from tackling major structural issues. Stephan Kasanczuk is a director of the consultancy firm WolfThink and a former investigator at ASIC’s predecessor, the Australian Securities Commission. Speaking to InvestorDaily, Mr Kasanczuk predicted ASIC’s current scrutiny of big institutions like the Commonwealth Bank and Macquarie will be short...
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  • Aries
    Aries says #
    Of course it will be short lived if indeed they are doing anything at all. Even if they are you can bet their will be a loop hole
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from http://www.whocrashedtheeconomy.com.au/blog/category/australian-economy/ Australia's subprime mortgage crisis 12 August 2014 , 10:37 AM by Gabrielle Burke Do you remember the subprime mortgage crisis in the United States that left so many people in trouble a few years ago? Think it could never happen here? Well, it is. Many Australians are now facing financial difficulties after signing contracts for low-doc loans. Denise Brailey has warned against such loans. She is from the Banking and Finance Consumers Support Association. » Pensioner represents tip of $100bn sub-prime iceberg: advocate – The Australian, 12th August 2014. » Australia’s subprime mortgage crisis – The ABC, 12th August 2014.   » The Investors Club, renamed as Property Club, sued by couple claiming they were misled into taking out $1 million in loans – The ABC, 12th August 2014.   Yes many more TIC victims coming in from the cold  This email address is being protected from spambots. You need JavaScript enabled to view it....
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  • setup
    setup says #
    Stay clear of low doc loans. They are dangerous and can ruin lives to the point of total financial destruction. Knowing what i kn
  • PreySOS
    PreySOS says #
    More effective government strategy and action and is essential to stop further dangerous development.
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