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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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BFCSA: 18% of AUSTRALIAN FULL DOCS are TOXIC - What a Bunch of Bankers!

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Our surveys show that 18% of FULL DOC LOANS are TOXIC.  NO verification of income took place, copies of LAFs were not given to the client in direct breach of consumer law and often three people's hand-writing on the loan applications.  

Each of these files show the loans were arranged by BANK MANAGERS and internal officers: NO BROKERS involved.

In addition, 36% of BFCSA Members surveyed admitted their LOW DOCS or FULL DOCS were arranged by BANK MANAGERS and internal officers: NO BROKERS involved.

Would the Commonwealth Government of Australia please tell me why 36% of SUB PRIME LOANS uncovered by BFCSA investigations were specifically arranged by BANK MANAGERS, the majority of whom worked for the Major Banks?

 So how safe is our $1.28 TRILLION Mortgage Market????  Who were carrying out the audits?  Not APRA it seems.

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  • doyla66
    doyla66 Friday, 14 June 2013

    The corrupt bastards have ruined many many lives, for this they must pay.
    And pay they will! The truth is coming out, the nation and the
    world is finally waking up to how their profit runs into billions, how they
    pay themselves million dollar salaries.
    They have no conscience.
    Whats it like looking in the mirror?

  • doyla66
    doyla66 Saturday, 15 June 2013

    Aust. Home Mortgages: $1.28Trillion ~ Common Denominator, "Skippy" ~ the banksters friendly sham Loan Calculator

    WoW! over 1/3 Manager-arranged thru "Skippy-the-Calculator". So did "Skippy" recklessly bound over a $1.28 Trillion-Mortgage-Market also? = 100 per cent Aust Home Loans "under a deep dark cloud".

    US Senator: "If you torture numbers long enough -- they'll tell you anything."

    Royal Commission (WTR) + Dead-Eye Dick 'Firing Squad' = Real Protection from run amok debauched Banksters!

  • doyla66
    doyla66 Saturday, 15 June 2013

    So true! The computer did it! Nothing to do with the humans at all. As if ... what do they think Australian consumers are? Tree dwellers living on gum leaves?

    Numbers ... yes. Lies, damn lies and statistics - too easy. Anyone with a basic educations can play with numbers. As I understand it the Loan Service Calculator is a spreadsheet based program. In go the raw numbers and then the tweaking starts, to create scenarios that will fit the objectives of the tweaker and sometimes even the client. But going back to the legally signed and witnessed source documents and changing numbers on those is fraud if those changes are not countersigned and witnessed again. Each change is one count of fraud. That's how I see it.

    So long Skippy - off to the Museum of Technology and White Collar Crime for all to marvel at how much destruction was wrought on Australians and our international friends by one calculator in the hands of the wrong people in the apparent absence of government, regulatory and police control. The Dark Ages of Australian History. This is the worst the white settlement has experienced since the corruption of the Rum Rebellion.

  • doyla66
    doyla66 Saturday, 15 June 2013

    BFCSA "Skippy Computer" Survey ~ demonstrates extremely disturbing results as follows--

    Actually informed that Survey showed:-
    100% of ALL LOANS via broker or bank staff APPROVED by 'Skippy Computer';
    100% loans assessed via Secret Online Calculator – using Bank Passwords;
    36% of loans FULL AND LOW DOC were arranged by Bank staff NO Brokers involved;
    18% of total loans surveyed were FULL DOCS arranged specifically by bank staff NO Brokers involved

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