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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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Denise Brailey

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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Denise

Denise

Denise Brailey has dedicated the past 20 years of her life to being a Consumer Advocate - a voice for the people and former President of RECA (Real Estate Consumer Association. She has helped thousands of investors and is currently President of the BFCSA (Banking & Finance Consumers Support Association). Denise was also awarded and presented with the Rona Oakley Award for Consumer Protection in 2010.
And who is to blame for where this is heading?  This movie spells it out!    http://www.imdb.com/title/tt0910970/videoplayer/vi2192703769?ref_=tt_ov_vi   Storyline   In a distant, but not so unrealistic, future where mankind has abandoned earth because it has become covered with trash from products sold by the powerful multi-national Buy N Large corporation, WALL-E, a garbage collecting robot has been left to clean up the mess. Mesmerized with trinkets of Earth's history and show tunes, WALL-E is alone on Earth except for a sprightly pet cockroach. One day, EVE, a sleek (and dangerous) reconnaissance robot, is sent to Earth to find proof that life is once again sustainable. WALL-E falls in love with EVE. WALL-E rescues EVE from a dust storm and shows her a living plant he found amongst the rubble. Consistent with her "directive", EVE takes the plant and automatically enters a deactivated state except for a blinking green beacon. WALL-E,...
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Hi Alan, a few years ago you said of me: “a good woman to have on your side.”  It’s been years between communication.  My ongoing research has taken me into the black hearted inside of our current Banking System and yes, Labor has agreed to push for a well needed Royal Commission into Banks.  We need to catch up.  Your figures may calculate differently after you read this.  My research into Mortgage Fraud shows the following as fact taken from the files of well over 3000 bank victims of Banker driven Control Fraud and speaking with countless more . Banks do not 'mostly lend four-fifths' of any loan.  Average LVR is around 121% and the debt rises faster than the original FAKE valuation paid for by the bankers.  Overvaluing average figure is $180,000 Bank files show fake figures based on the use of cross collaterialisation leaving the victims exposed to loss of home.  It’s a...
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AFR tightens macroprudential in lieu of APRA   By Houses and Holes in Australian banks, Australian business media at 10:20 am on March 31, 2017 | 0 comments   https://www.macrobusiness.com.au/2017/03/afr-tightens-macroprudential-lieu-apra/     If only…cutting investor loans to 30% from 48% of mortgages would be a great idea:       Instead we got absolute waffle....
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MEDCRAFT AND BYERS: Tweedle Dee and Tweedle Dum - Regulatory Twin Peakers APRA has advised ADIs that it is also monitoring the growth in warehouse facilities provided by ADIs to other lenders. These facilities allow lenders to build a portfolio of loans that will eventually be securitised. “APRA would be concerned if these warehouse facilities were growing at a materially faster rate than an ADI’s own housing loan portfolio, or if lending standards for loans held within warehouses are of a materially lower quality than would be consistent with industry-wide sound practices,” Mr Byres said. APRA launches piss weak macroprudential 2.0 By Houses and Holes in Australian banks, Australian Property at 9:23 am on March 31, 2017 | 24 comments https://www.macrobusiness.com.au/2017/03/apra-launches-piss-weak-macroprudential-2-0/ What can I tell you: The Australian Prudential Regulation Authority (APRA) is today initiating additional supervisory measures to reinforce sound residential mortgage lending practices in an environment of heightened risks....
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The housing market lockout is a real worry, but it's the Government's absurd, thought bubble response that has Jim Pembroke's ears popping. BUBBLES, bubbles everywhere... 30 March 2017 https://independentaustralia.net/politics/politics-display/the-australian-housing-thought-bubble,10159 There are water bubbles, air bubbles and champagne bubbles. We can have an asset bubble, a credit bubble or a dot com bubble. The Dutch even had a tulip bubble. It won't surprise anyone to learn that all bubbles, whatever their origin, have similar characteristics. Understanding the physics of bubble science can help to make sense of pretty much any simple bubble analogy. But when we have a potential housing bubble and a boy in a bubble – Prime Minister Malcolm Turnbull addressing the issue with a series of thought bubbles – the subsequent "bullshitery" can stretch any scientific understanding and challenge the very nature of reality itself. It is literally "unbelievabubble". Where did this all start? The beginnings of the housing/thought...
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Must go back to what Kerry Packer once said...never stand between Turnbull and a sack of gold! Big Banks Conspiracy is destroying America By Paul B. Farrell Published: Aug 7, 2013 http://www.marketwatch.com/story/big-banks-conspiracy-is-destroying-america-2013-08-07 SAN LUIS OBISPO, Calif. (MarketWatch) — Imagine 100 Goldman Sachs banks running America and the world. It’s happening. Forget politicians, Big Banks rule the world.  It was just a few years ago in “The Great American Bubble Machine,” a Rolling Stone feature, that Goldman was indicted by Matt Taibbi: “The first thing you need to know about Goldman Sachs is that it’s everywhere. The world’s most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.” Yes, till recently Goldman Sachs was boss, everywhere, the “world’s most powerful bank.” Taibbi: “From tech stocks to high gas prices, Goldman Sachs has engineered every major market...
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IMF on why high household debt is a problem   By Unconventional Economist in Global Macro at 10:55 am on March 29, 2017 | 24 comments By Leith van Onselen https://www.macrobusiness.com.au/2017/03/imf-high-household-debt-problem/   The IMF has released a new working paper entitled “Excessive Private Sector Leverage and Its Drivers: Evidence from Advanced Economies”, which provides a quantitative assessment of the gaps between actual and sustainable levels of debt and identifies the key factors that drive excessive borrowing.   Below are some key extracts: High private debt can have a substantial adverse impact on macroeconomic performance and stability. It hinders the ability of households to smooth consumption and affects investment of corporations. In addition, elevated debt levels can create vulnerabilities as well as amplify and transmit macroeconomic and asset price shocks throughout the economy. Excessive private debt increases the likelihood of a financial crisis, especially when it is driven by asset price bubbles...
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MEDIA RELEASES, NEWS I want to get to know every citizen Chris Gambian February 10, 2016 MEDIA RELEASES, NEWS http://chrisgambian.com.au/newsentry “Things are only going to change when the voices of everyday people are heard.” Chris has spent his career speaking up for others, as a union organiser and through community organisations.  He was very active in the campaign to save St George Bank from takeover by Westpac, which resulted in conditions on the sale being imposed to protect jobs and services. “Our young people are struggling to get a job, and they need more and more qualifications to even get a look in; kids growing up in our area have to move away if they’re to have any chance at buying a house; and families are still struggling with the cost of living, especially on things like childcare” he said. Chris said he hoped to have a conversation with every person...
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Australia world’s worst money laundering property market: Report   By Unconventional Economist in Australian Property at 11:23 am on March 30, 2017 | 27 comments   By Leith van Onselen https://www.macrobusiness.com.au/2017/03/report-australia-worlds-worst-money-laundering-property-market/   Transparency International has released a new report, entitled Doors Wide Open: Corruption and Real Estate in Four Key Markets, which has identified Australia, Canada, the UK and the USA as the top four spots targeted by corrupt officials or criminals for real estate crime. Australia is the worst, failing to address 10-out-of-10 loopholes.   Below are the key extracts:   The real estate market has long provided a way for individuals to secretly launder or invest stolen money and other illicitly gained funds… According to the Financial Action Task Force (FATF), real estate accounted for up to 30 per cent of criminal assets confiscated worldwide between 2011 and 2013… In many such cases, property is purchased through anonymous shell...
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Bubble going nuclear? BOQ sees mortgage “surge”   By Houses and Holes in Australian banks, Australian Property at 10:35 am on March 30, 2017 | 40 comments   https://www.macrobusiness.com.au/2017/03/bubble-going-nuclear-boq-sees-mortgage-surge/  Domainfax:   Bank of Queensland says it has seen a surge in mortgage applications in recent weeks, despite tough competition in the home loan market and stricter regulatory controls. The bank reported cash earnings of $175 million for the first half of the financial year, down 2 per cent from a year earlier. Chief executive Jon Sutton said while earnings were down, the outlook for the second half was more positive, with lending application volumes surging 30 per cent in recent weeks, compared with last year.   “We are operating in a rapidly changing operating environment where regulation, competitive dynamics and customer demands are shifting,” Mr Sutton said. “A number of the headwinds that emerged in 2016 abated late in the half,...
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http://www.abc.net.au/4corners/stories/2017/03/30/4645233.htm   Monday 3 April 2017 "We don't cheat, we don't lie, we are upfront with the people." Pauline Hanson When Pauline Hanson and her One Nation party stormed back into politics as a major force, it was done on the promise they would be nothing like the "mainstream" political parties they and their supporters loathe. "We bring a fearlessness. We don't care what people think... we just speak the facts." One Nation Senator Malcolm Roberts (The Arrogance) But on Monday night Four Corners will reveal the brutal backroom politics ripping into Pauline Hanson's One Nation party. "If the public knew what went on in the Party I don't think they'd have anything to do with One Nation." Former Candidate Reporter Caro Meldrum-Hanna investigates the party's inner workings and explores how former supporters have been left disenchanted, asking for Pauline Hanson to "please explain". "A political party is supposed to be...
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MALCOLM TURNBULL is a dangerous man and worse than HERBERT HOOVER.   Matt Taibbi: “The first thing you need to know about Goldman Sachs is that it’s everywhere. The world’s most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.”    The aftermath of the Wall Street largess in Ponzi Financing in the 1920's is identical today in Australia. The easy credit, dud mortgages for people to invest in the stock exchange, the housing market and buying motor cars with unaffordable loans: All these things led to the 1929 crash. PONZI FINANCING became the norm. Banksters pumped up the Property Market to a level which was unsustainable and beyond belief. Elites pumped up the stock exchange to crash levels, yet managed to get their own wealth out just in time. They pumped up easy credit...
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Crossbench backflips on penalty rate cuts The Australian 12:00am March 30, 2017 Joe Kelly   The Senate is today poised to back Labor’s bill to overturn the industrial umpire’s cut to Sunday penalty rates, intensifying the pressure on the Turnbull government as it defends the reductions amid a fierce union-led campaign. Nick Xenophon, who controls three upper house seats, yesterday joined Derryn Hinch and One ­Nation in backflipping on his previous support for penalty rate cuts to assist small business owners. ACTU leader Sally McManus pledged that unions would “fight back” against the cuts for retail and hospitality workers, while business groups warned the Labor bill flew in the face of years of evidence presented to the Fair Work Commission. Ai Group chief executive Innes Willox said the opposition’s legislation, if passed, would “adversely impact upon all employers, not just those in the fast-food, retail and hospitality industries”. “The concept of...
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Call to ban ‘toxic’ interest-only home loans news.com.au MARCH 29, 20173:04PM Frank Chung   FORGET dipping into super, scrapping negative gearing or opening up new supply. If we’re going to restore some sanity to the Australian housing market, the regulator must step in to ban “toxic” interest-only loans, economist Lindsay David has argued. “It’s definitely the best policy to take artificial and speculative heat out of the market,” he told news.com.au. According to the founder of property market research firm LF Economics, the much-maligned negative gearing is “only 8 to 10 per cent” of the reason why house prices in Australia are so high. CoreLogic figures released this week showed home prices in Australia’s capital cities have jumped 3.7 per cent since the start of the year alone, with Sydney leading the charge, increasing by 5.3 per cent. Earlier this year, Sydney was named the second most unaffordable city in the...
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Paul Keating says neo-liberalism is at 'a dead end' after Sally McManus speech Sydney Morning HeraldMarch 30 2017 - 1:56am Deborah Snow   EXCLUSIVE  Former prime minister Paul Keating – architect of some of the most profound economic reforms in the country's history during the 1980s – has launched a surprise critique of the liberal economic philosophy he once championed, declaring it has "run into a dead end". Mr Keating made his remarks in response to a speech delivered by the new leader of the ACTU, Sally McManus, at the National Press Club in Canberra on Wednesday. Ms McManus declared that "neo-liberalism" had run its course, and that experiments in privatisation had failed, slamming the government over mooted penalty rate cuts, accusing many employers of adopting "wage theft" as a business model, and declaring war on growing inequality. "We are not saying that the people who introduced some of the policies...
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Neoliberalism 'has run its course', says ACTU boss Sally McManus Guardian AustraliaWednesday 29 March 2017 15.24 Paul Karp   Neoliberalism has run its course, causing higher prices through privatisation and rising income inequality, the new Australian Council of Trade Unions secretary, Sally McManus, has said. In her first address to the National Press Club as ACTU secretary on Wednesday, McManus defended her comments that anti-strike laws were unjust and could be disobeyed, and set out the union peak body’s case for a $45-a-week increase in the minimum wage. McManus said that neoliberalism and trickle-down economics had caused inequality to reach a 70-year high in Australia and that “working people and ordinary Australians have been the victims”. “The Keating years created vast wealth for Australia, but has not been shared, and too much has ended up in offshore bank accounts or in CEO’s back pockets. “Working people are now missing out and...
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Andrew Liveris' challenge to the 'very, very 1 per cent' Australian Financial ReviewMar 29 2017 11:45 PM Jennifer Hewett   One of the world's key global business leaders, Andrew Liveris, is calling for an overhaul of the free market model and thinking that have dominated the approach of countries like the US, UK and Australia for decades. The Australian-born head of Dow Chemical says that globalisation in its current form had failed too many people and that only new forms of "inclusive capitalism" and "fair trade" can sustain the benefits of open economies and globalisation. Liveris is head of the American business leaders' group that is advising President Trump on reviving US manufacturing and he also advised President Obama on manufacturing. But he says the current White House is far more business oriented in its approach and determined to actually get things done. The two presidents, he says, are "like chalk...
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MALCOLM TURNBULL is a dangerous man and worse than HERBERT HOOVER. The aftermath of the Wall Street largesse in Ponzi Financing in the 1920's is identical today in Australia. The easy credit, dud mortgages for people to invest in the stock exchange, the housing market and buying motor cars with unaffordable loans: All these things led to the 1929 crash. PONZI FINANCING became the norm. Banksters pumped up the Property Market to a level which was unsustainable and beyond belief. The Elites became MEGA RICH, the poor were used to poverty. The bank victims thrown into poverty were the MIDDLE CLASS Mums and Dads, tricked by bankers and extreme right wing dishonest politicians. Bankers were already in bed with the President HOOVER, convincing ordinary hard working citizens that if they borrowed money they could make themselves better off financially in short space of time. The entire bank driven sales spiel was...
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Call to ban ‘toxic’ interest-only home loans 29 March 2017 Frank Chung http://www.news.com.au/finance/real-estate/buying/call-to-ban-toxic-interestonly-home-loans/news-story/84bb856b3d0ea5448cbc7dec9123b66f   FORGET dipping into super, scrapping negative gearing or opening up new supply. If we’re going to restore some sanity to the Australian housing market, the regulator must step in to ban “toxic” interest-only loans, economist Lindsay David has argued. “It’s definitely the best policy to take artificial and speculative heat out of the market,” he told news.com.au. According to the founder of property market research firm LF Economics, the much-maligned negative gearing is “only 8 to 10 per cent” of the reason why house prices in Australia are so high. CoreLogic figures released this week showed home prices in Australia’s capital cities have jumped 3.7 per cent since the start of the year alone, with Sydney leading the charge, increasing by 5.3 per cent. Earlier this year, Sydney was named the second most unaffordable city in the...
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Lindsay David http://www.switzer.com.au/video/lindsay-david/ LF Economics' Lindsay David says we're in the midst of a housing bubble, so what is the solution? To discuss, he joins Switzer TV (broadcast on Monday 27 March, 2017). Lindsay: "Get rid of INTEREST ONLY LOANS"   "Get rid of NEGATIVE GEARING"  ...
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A QUINTESSENTIAL MISSION FROM A WOMAN WHO MAKES SENSE. SALLY McMANUS Malcolm Stupid turned on the unions, and now they will turn on him. Despite his efforts and expenditure re RC into unions and his wasteful obsession with abcc, not against Bankers of course, Union membership is up 20% now. Malcolm has been great promoting united unionism. Consumers need the same collectivism and many union members are victims of banks!   New ACTU Secretary Sally McManus delivered a wonderfully inspirational speech as today's PRESS CLUB guest speaker, and slam dunked the idiocy that is LIBeral elitist protectionism and neo liberal politics. Ms McManus slammed the protection of CEO's and TAX HAVENS, and the cost to citizens of all the hidden tax perks for the elites that are making us poorer by the day. One in five of the largest companies pay no tax. Those that pay one million - claim that...
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More flawed data produced another F for fail report!  The Gloves are off.  Liberal Machine producing FAKE NEWS on daily basis to keep us in the dark like mushrooms and being fed continual stream of bulldust!  Another academic fails housing affordability By Unconventional Economist in Australian Property at 1:21 pm on March 28, 2017 | 6 comments By Leith van Onselen https://www.macrobusiness.com.au/2017/03/another-academic-fails-housing-affordability/    There are so many errors and omissions with this Alcock article that it is hard to know where to start. But here goes. Jamie Alcock, Associate Professor at the University of Sydney, has penned a highly spurious article claiming that housing affordability for today’s home buyers is better than when their baby boomer parents purchased. From The Conversation: A house in 2017 that costs nine times the median salary, when mortgage interest rates are less than 4%, is arguably more affordable than a house in 1990 that costs...
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Banks concede their code of conduct was 'primarily directed' to other banks Australian Financial Review Mar 28 2017 4:53 PM James Eyers   The banks have conceded their industry code of conduct is a "a long and detailed document [that] customers find difficult to relate to". They have pledged to substantially re-write it to boost consumer protections while also pushing back on some of the recommendations made in a recent independent review of the code, including the need for new restrictions on cross-selling products. The banking industry on Tuesday released its response to a February report by consultant Phil Khoury who made 99 recommendations for improving the Code of Banking Practice, a charter between banks and their customers. The complexity of the banks' response reveals many issues need to be resolved before a new code is finalised. The code looms as a priority for the in-tray of former Queensland premier Anna...
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Editorial: The case for a banking commission only gets stronger   The Prime Minister's refusal to institute an initiative supported by three quarters of voters is a bad look. For a long while Malcolm Turnbull resisted the call for changes to Section 18C of the Racial Discrimination Act. Then, under pressure from a small group of MPs at the extreme right of his party, and a relentless campaign from the conservative commentariat, he caved in. In so doing, the Prime Minister committed his government's valuable time and resources to an issue that most people, according to the latest Fairfax-Ipsos poll, do not consider a problem that needs fixing. Indeed, 78 per cent of Australians believe it should be unlawful to "offend, insult or humiliate" and 84 per cent believe it should be unlawful to "intimidate or vilify". SHARE SHARE ON FACEBOOKSHARE SHARE ON TWITTERTWEET LINK George Christensen joined the crossbench to...
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Thatcher's 'privatization' disaster spreads around the world by William Engdahl EIR Economics April 18, 1986 New French Premier Jacques Chirac presented his economic program to the National Assembly on April 9. The keynote of his proposals was a call for significant reduction of state intervention, so-called dirigisme, through a major selloff of national industrial and financial assets. Although this "privatization" program fell short of the worst that was feared, it marks an open door for speculative stock-market operations to loot what is left of the previously protected French national economy. Under the Chirac program, at least 200 billion francs in assets will be put on the auction block over the next five years including some of the world's most valuable industrial and financial holdings, for example, Europe's most advanced aerospace/military industry. The large nuclear and electric company, Compagnie Generale Electric; the advanced electronics firm Thompson; Rhone-Poulenc, Europe's seventh-largest chemical industrial company;...
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