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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 Systemic Fraud in Low Docs
Why the banks should be nervous about Election 2016  The Drum Ian Verrender  5 hrs ago       A good thing that's all sorted. With the election campaign now in full swing, it seems almost everyone has forgotten the reason we are going to the polls. During the past fortnight, as political opponents play Punch and Judy each night on the tele, there's been nary a mention of the ABCC - the Australian Building and Construction Commission - the immediate establishment of which was so vital, it required the Prime Minister to dissolve both houses of Parliament. It's easy to see why. Cranes jostle for position on crowded city skylines as the frenzied east coast construction boom races towards its inevitable climax. Industrial disputes have fallen to levels last seen six years ago at the height of the financial crisis. And wages are growing at their slowest since records were established...
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Major Banks are asking the Australian Securities & Investment Commission to jail a few Brokers, without of course, investigating the Banksters' Engineering of the Service Calculator.  100% of Loan Application Forms have been tampered with after  the client's signature was obtained and without the knowledge or authority of the borrower.  Borrowers were only shown 3 pages to sign, yet 8 other pages were added to the document at a later date.  The borrower of course had no idea Major Fraud was taking place on Full Doc and Low Doc mortgages. All mortgages in Australia were "approved" by Skippy the Computer..................its a  fact, confirmed by authorities.   The Bankster Executives masterminded a computer program to fudge income figures after the LAF was signed by the borrower.  The Service calculators were designed for Brokers to write in the exaggerated income onto the LAF so they could be blamed at a later date....if necessary. NO...
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  • doyla66
    doyla66 says #
    DB you make me giggle.... Extra boxes of handcuffs needed.... YES and a brand new jail built just to house THE BANKSTERS and a spe
  • doyla66
    doyla66 says #
    No matter how smart they think they are they always trip up on something, usually in making the very big mistake that there is alw
  • doyla66
    doyla66 says #
    They sure were cunning and had it worked out so brilliantly that their toxic scam would ultimately be directed onto the clueless b
  • doyla66
    doyla66 says #
    Denise I fully agree with your explanation of how the process itself is starting to turn on our Banksters they are so clever they
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Just be aware 36% of Fraudulent Low Doc mortgages are written up by bank staff....no broker involved.  ASIC declares open season on dodgy brokers but not on dodgy Lender approvals and acceptance of fraudulent documents.  Let the Cover Up Games Begin! ·         Australian Broker News http://www.brokernews.com.au/news/breaking-news/asic-declares-open-season-on-dodgy-brokers-182330.aspx by | 11 Dec 2013 ASIC has permanently banned two Sydney-based brokers and one former mortgage broker while announcing the conviction of another. Two Sydney-based mortgage brokers have been banned by ASIC after it was found that they had provided false information to credit providers in support of loan applications worth over $3 million. ASIC has also permanently banned  former mortgage broker Daniel Minh Tuan Nguyen from engaging in any credit activities and providing financial services following his criminal conviction for a range of offences, and convicted another, Hee Seng Lee, of providing false information to banks to secure approvals for home loans totalling almost $7.5 million. Wen Yao Hsieh (also known as Leon Hsieh and Adrian Hsieh)...
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  • doyla66
    doyla66 says #
    ASIC Deputy Chairman Peter Kell said, "By falsifying loan applications Hsieh and Shen put consumers at risk. What about ASICs trac
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After dealing with FOS and ASIC I am beginning to understand how a gang rape victim feels. Neither wants to see anything.....and protect the banks You agreed to a meeting with the banksters You must have encouraged them in some way You have done this before - borrow money You shared personal information with them because they asked for it You must have misunderstood their signals They misunderstood your signals You are old enough to know what this means - never been defrauded before so not experienced. "No" doesn't really mean "no" You might have been interested so we pursued you anyway You didn't report it till now (What do you mean you were too embarrassed at the time?) Don't worry about the banks, we are going to look into your past - we are investigating the borrowers Banks are not silly - they don't admit anything - so we cannot investigate them You have...
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  • doyla66
    doyla66 says #
    Well said, Ed. We're victims of crime and misconduct: not just fraud but also abuse, as we're revealing uncomfortable truths about
  • doyla66
    doyla66 says #
    Yes Ed you are right with all your points heard many of these myself. My favourite was Nab cannot locate the original rejected lo
  • doyla66
    doyla66 says #
    That's exactly what it feels like. We the innocent have to prove our innocence. We didn't put all this bull#hit on the laf's, the
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How did the Banks have so many people contributing to their part in the biggest crime of the century?  How did Banks manage to keep all the 20,000 key players and thousands more internal staff like mushrooms? We know how the Sub Prime Low Doc Scandal trapped so many Australians.  We know why the regulators looked the other way for 14 years.   We have uncovered their secret weapon...............we have the evidence.   Just watch this space.  I am time poor so the actual loading and preparation takes time.  We have no funding and no paid staff but we are kicking goals.  For the doubting Thomas's we have the goods. For all those who have received letters from ASIC, APRA, AFP, FOS closed file letters and COSL "its fraud so cannot assist" - closed file letters.  PDF and sanitize and send to me.  We call them bugger off letters. BIG REVEAL...
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  • doyla66
    doyla66 says #
    s.25, Code of Banksters' Practice: "Get your (unsuitable) facts first, then you can distort them as you please."--Mark Twain
  • doyla66
    doyla66 says #
    .... Coz no ones going to see them buried in the lost Banker files! So the whole plan to get rid of the Bank credit evidence and
  • doyla66
    doyla66 says #
    I remember current affair programs depicting happy people using equity to buy investment properties, now i'm wondering if they wer
  • doyla66
    doyla66 says #
    They were actors, Maria. Occasionally they used real clients but if we had watched their eyes we would have realised that they wer
  • doyla66
    doyla66 says #
    I've often wondered how the Banks coerced, convinced or conned so many so-called intelligent, educated, law-abiding and aware peop
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The Australian Federal Government must approve a Royal Commission into the Banking And Finance Sector What we already know and have the proof of:--  The issue is a giant fraud involving between  $57 Billion and $100 Billion. A devious business plan was devised and executed by the Banks 36 lenders including the Majors in the mid nineties here in Australia.       Set patterns emerged and we have emails between the lenders staff and brokers which we have decided to load onto the LINKS in "Breaking News" at the top of the Home Page.  See above. ·         The victims are left with impossible lifetime of debt and they have painstakingly listed the discrepancies/fraud on their Loan Applications.  These were fudged figures devised by a service calculator and not by the Broker/Planners.  BFCSA will reveal more details next week. O     BLOGS on this site from JJ are relating to American laws....
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