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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: Australian Banks kick out 16 families into the streets per week in NSW

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Real Estate Gurus and banks are talking up property markets as mad investors rush in and force property prices even higher.  But who are the buyers?  Well they are ordinary Mums and Dads fed a rubbish strategy by Bankers and who will lose their existing homes.  They have been targeted and then talked into to drawing on "equity Loans," by MAD HATTER BANKERS.  Most are on a pension and/or low income. Such is the nature of our COVERT SUB PRIME CRISIS.  Yet all banks are reporting shortfalls in selling prices.  What????  How does that compute? 

Forget the "reasonable man" theory.  These are all the global KNOWN key indicators of a giant PROPERTY BUBBLE.  Today's Daily Telegraph (Linda Silmalis) ran this headline this morning quoting sources from the office of the NSW Sherriff.  So what are the weekly repo rates in other states?

Last year, 2163 repo orders were granted but the Bankers only managed to execute 813.  We know what's happening there.......people are learning to go to ASIC FOS and COSL to have complaints against the banks lodged so it will be interesting to see what the EDR's latest figures of complaints has risen to.  The rise in complaints are meteoric. 

ASIC is trying to pretend "there are no systemic issues," because that is what they told as a lie to parliament last year.  FOS and COSL are busy throwing out as many cases as they can after their two year investigations and are trying to then say the cases "have run out of time."

BFCSA members know what's going on in the world of high finance - high STENCH that is. 

Meanwhile our Corporate Cop is trying to pretend fraud is not a criminal matter with a statute of limitations of 20 years!  They are all behaving like rats up a sewer pipe trying to beat the flood.  Some of the families the Sherriff's Office refers to say people have recommenced their payments!  But these loans are 300 year toxic loans set to implode within 4 years or less!  WE know and have identified the model being used by Major Banks with an 85% market share of sub prime loans.  Major Banks, in order to hide the bodies, have continually handed out buffer monies or TOP UP loans to the already JUMBO SIZE LOANS handed out to pensioners and low income families.

What a mess.  Why do these doyens of the Banking sector hate going to court but love to use as a weapon of preference to stress out their clients?  Because they know and we know COURT FIGURES will eventually show the size of the problem.  Its a Mexican stand-off!  Thanks to BFCSA helpers the banks do not know what to do with the elephant in the room and ASIC wimps are hiding in the cupboard until the next line of promotions are due.

The NSW CCLS that reported their findings to ASIC in 140 page report in 2003, are saying the latest figures hide the true BIG PICTURE.  WE know....

Over 106 properties were seized in March:   so around 1200 per annum?  Just for NSW?  The previous figures were 1500 per month across the nation. 

CCLS is urging banks to factor in a buffer.........what????  Had banks rejected the loans and not indulged in widespread MALADMINISTRATION IN LENDING during the past 14 years we would not be facing our own SUB PRIME CRISIS mess.  CCLS and BFCSA agree its just the tip of the iceberg. 

NSW Treasurer Mike Baird said "I am pleased" so I suggest you read the article to see what he is pleased about.  He suggests you keep buying property.

Glory Be and more work for us in the future as more punters are sucked into the VORTEX created by the Banker Engineers who are profiteering from these unconscionable contracts.   And, the Bankers Played On.

Who wins from all this misery?  The Banks The Banks The Banks..............with impunity and with the blessing of ASIC and APRA.

We desperately need a ROYAL COMMISSION INTO THE BANKING SECTOR, the regulators, its lawyers, the property gurus, the accountants, the spruikers and all the other charming species feeding off the carcass' of the most vulnerable in our society....and we are OK with that?  I do not think so.....the big fat commissions engineered by the Bankers tell the story.  These are GLOBAL BANKING CARTELS on a massive asset grab world wide.

No-one received LAFs....No-one received Service Calculator forms containing their personal financial details, no-one received phone calls from banks to verify income and, no-one realised that credit assessors hand-writing appears on every LAF....meaning insider bank fraud managed from the very TOP LEVEL.

I suggest that every bonus dollar be placed into a consumer trust for the massive COMPENSATION CLAIMS that will materialise from this property disaster.

Exactly the thing that rile Ned Kelly: thieving ruthless Bankers wrecking families and hurting the poor.

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  • doyla66
    doyla66 Wednesday, 16 October 2013

    Denise, As we know FOS are now eliminating the appeal avenue from their decisions and going straight to determination effectively benefiting ( by the time the Senate inquiry reports their case load will reduced ), the banks and ASIC, reminiscent of the Nazi tactics in the latter stages of WW11: holding centers and send them all to the gas chambers before the Allies arrived, in the case to the Banks executioners

  • doyla66
    doyla66 Wednesday, 16 October 2013

    The banks are not repossessing all properties, they are telling us to put them on the market to sell.
    So therefore the figures should be a hell of a lot higher.
    They are trying to make out that they are good to us by using this strategy.
    What a joke.......ASIC probably instructed the banks to do it this way to keep the real figures hidden.

  • doyla66
    doyla66 Wednesday, 16 October 2013

    Where is APRA?

    Yes Maria, when my loans 'defaulted', ING wanted me to quietly "walk down the aisle" to sell my home without a QLD Sheriff in sight, to artificially "under-report" real numbers of lost homes caused by predatory lending practices ..then and add all 'other' contrived-unreported statistics regarding defaulting loans which are "adjusted" to wipe the slate clean, and without informing APRA, who itself complained about / to the banks, such covert manipulation of real "defaulters" because it was messing up APRA's own statistics.

  • doyla66
    doyla66 Wednesday, 16 October 2013

    Nab wanted us to sign documents and hand over our home to them no ifs or buts just give us your home. That would have been nice and easy for them. Nab also wanted us to complete and sign a current financial statement. Nab also wanted us to sign over all the equipment from the business. One thing we had learnt through our 4 year battle with Nab is NEVER SIGN. Nab are fraudsters and produced fake documents with fake signatures in court. The court did not verify these signatures. We deny ever sighting or signing these crudely made documents. They had no identification relating to Nab and were written on what looked like tissue paper and dated back 30 odd years and yet Nab could not produce the Brokers LAF only a couple of years old. Liar, liar pants on fire.

  • doyla66
    doyla66 Wednesday, 16 October 2013

    Same thing with RAMS. Their solution to us, via FOS .. was to sign off on their offer to us which stated ... RAMS would release us from the liability of the loan in exchange for voluntarily vacating our home in 30 days and giving RAMS the keys to our home for it to be sold. RAMS has said it will not hold us liable for the expected shortfall either. We said no as RAMS has not adequately provided appropriate compensation to us for OUR LOSS. RAMS cannot profit from fraud. We made 4 years of interest only payments basically for nothing!! We were set up to fail from the very beginning.

  • doyla66
    doyla66 Wednesday, 16 October 2013


    With me the Bendigo and Adelaide Bank on a home of 40 years , which they valued at $2.4 m in Jan 2009, denied in court that they had received and accepted a plan to sell my home, used sworn affidavits containing false evidence( used to be called perjury) fronted in the Supreme Court , when I suffered panic attacks in Court , the judge gave me 5 min to read documents which they had served on me 10 mins beforehand, awarded them judgment. They sold my sold house for $1.2m, now they are trying to bankrupt me, FOS have a ruling against them for $45,000 for maladministration. The bank sold the property privately, in Qld THEY ARE REQUIRED BY LAW TO SELL FORECLOSED BY PUBLIC AUCTION. I now find that they are trying to claim $800,000 for lost interest , be careful of these " grubs" ; FOS are as much help as " tits on a bull" ASIC wouldn't act on the perjury. This was all before I knew about Denise

  • doyla66
    doyla66 Thursday, 17 October 2013

    The Old Bull said to and the Young(er) Bull -- well, kids might be reading......

    Keep it coming Tom; its time to gore a few Bank$ter Bastards running amok in that smelly ASIC/FOS/COSL freshly manured paddock.

  • doyla66
    doyla66 Thursday, 17 October 2013

    I kept up my repayments with the banks money, Bendigo banks money.
    They are the biggest crooks going, same as CBA, NAB, Westpac, Firstmac etc.

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