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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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BFCSA: Consumers Get Tough with Bankers and those who hide under legislative ROCKS

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For the benefit of readers:  The SECRET SERVICE CALCULATOR (only banks, brokers and insurance companies have access passwords) had its existence made known to members by BFCSA in late 2012 and for 12 months, members have all been asking for their one page copies.   A few of these documents emerged, but sadly, our banking world is a Cartel governed Industry.  Suddenly, their dirty secret was out and they could not put the Genie back in the Bottle!  The FACT that no client of banks were ever told of this secret calculator's existence and never disclosed that it was used to skew their income to say $50k up to $180k.  Bankers never intended for this one pager to see the light of day.  The SCF and the ICW was actually ATTACHED by bank command, to the Loan "Application Form."  Banks had denied the LAF discovery for some years before and we won that battle.  

Discovery of the SCF and its second page ICW (Income Work Sheet - massaging income without client's knowledge) was becoming more likely.....after all its only one little a 2nd half page.

We then asked FOS and ASIC to help consumers recover this one document as consumers are entitled to any part of their file which contains their personal finance details.   So you now realise bankers went "GULP" and all on song with ASIC's blessing said: "NO we do not have to hand that page over as it contains "commercially sensitive info."     Hmmmmmm, because it could bring down a bank or three?  That type of "commercial sensitivity?"     

BFCSA suggests the following to long suffering consumers who fell for the $100 billion MORTGAGE LOAN SCANDAL............................

Demand that FOS insist on Banks handing over your client loan files.  The "commercially sensitive" crap does not wash. The one page of the service calculator that they all seem bent on hiding or shredding only contains YOUR PERSONAL FINANCIAL INFO and is therefore discoverable

If Bankers and their lawyers say: "take us to court, sunshine" - then ASIC SHOULD BE SCREAMING - YES WE WILL TAKE a few Bankers TO COURT.  Can anyone really see that happening?  ASIC has no has no idea how to serve a writ on a banker wanker.  ASIC simply says: "we do not like getting involved, as it will end in tears."  Oh diddums!  What about the thousands of people who tried out these 30 year loans and after five years are now homeless?

What a bunch of Bankers!

Its way past time for ASIC to take out digit and start some court action IN THE PUBLIC INTEREST - otherwise laws are meaningless, collecting dust and, ASIC has rendered these powerful old and new laws impotent!    ASIC needs to understand what GETTING tough is really all about.  I guess its time for consumers to toughen up and show ASIC the way forward.....or the door!   

The inglorious one page Banker FORM does show a 5 year old Net Servicing Ratio which the NSR figure is not only no longer "commercially sensitive" it is obsolete and FOS and ASIC know that! 

The problem for Bankers and things that crawl out from under rocks, is the FACT that the one pager SCF identifies the FRAUD and the FRAUDSTER: the lender computer program known as the Calculator - the super duper, 'one size fits all' income fudging machine! 

Bank lawyers - the ones beginning with "G" for Giddy-up are suggesting: "we know its fraud so we can use the Privacy ACT to hide the crime."  We all know how protecting mates is important - to ASIC.

The Privacy Act cannot be abused and misused to hide FRAUD as if it were "commercially sensitive."   Well, yes they can, if ASIC permits the Bankers to get away with that nonsense, or conversely ASIC execs have been utterly corrupted by $3000 bottles of the case load?

Time for ASIC to start doing to Bankers what Banks and ASIC have been doing to consumers for decades.....I leave that one for you to figure out!  This email address is being protected from spambots. You need JavaScript enabled to view it.

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  • doyla66
    doyla66 Sunday, 20 April 2014

    Thank you for that info Denise. This has prompted me to another avenue to be questioned and investigated for SURE!!! From memory - all loans could only be approved using the service calculator - is that correct Denise? If the LAFS show substantial shortfalls in figures - eg: incoming less than outgoings- then what was put into the service calculator must have been made up in order to get approval for the loans. Therefore in our case the LAFS and service calculator for the loan would have very different figures demonstrating deliberate fabrication . The bank manager (in our case - no broker) would have put the info in the service calculator for approval.

  • doyla66
    doyla66 Sunday, 20 April 2014

    Also in our case - if the service calculator is not forthcoming - the question would still remain- how did the service calculator approve those loans given the figures provided on the LAFS - when it is clear from the LAFS alone affordability was not possible.

  • doyla66
    doyla66 Sunday, 20 April 2014

    Also in our case - if the service calculator is not forthcoming - the question would still remain- how did the service calculator approve those loans given the figures provided on the LAFS - when it is clear from the LAFS alone affordability was not possible.

  • doyla66
    doyla66 Sunday, 20 April 2014

    After stepping away from the blog for several weeks after a major breakdown due to TOXIC loans....... Cause that is what they do a person....... The stress and anxiety destroys you.....these bastard bankers and the service calculator they invented are killing the happy lives of ordinary australian families.......
    Observer..... Yes..... You are right......
    It's the LAFS and the calculator...... Nothing matches!!!!!
    It's different figures all over the shop....
    I still pray to god this will be over very soon for all of us.....
    A message to ASIC, FOS , ALL The Senetors..... WE JUST WISH TO LIVE AGAIN......
    This must come to end and they must extinguish these very toxic loans and put a STOP to that calculator....
    Where is the honesty?
    All you need to tell people is the real life figure of what they can REALLY afford.
    You are the so called professionals that we TRUSTED.....

  • doyla66
    doyla66 Monday, 21 April 2014

    Hang in there gfs246. Banks want that to happen so they can beat you down further. They also hope you are so exhausted and wanting everything over that you would be stupid enough to sign anything they propose. They also obviously assume that all solicitors act like them - all about the money with no ethics or care for the consumer rights.

  • Denise
    Denise Monday, 21 April 2014

    Get tough with these banks. Its the ASSESSMENT assessor that fudged the income figures using the calculator in SECRET to mark the loan as APPROVED. Its the actual service calculator that is exaggerating the incomes. The Assessor writes in a different figure as to that which was keyed in as BASE INCOME by the broker or bank manager. The Assessor has no idea the NSR differs from the broker calculator. If broker or bank manager put true income figures down and did not use the calculator, normally deal would be sent back to source saying "please provide income assessment figures using the calculator provided." We have discovered internal bank emails to know the model used. But Assessor (being told to PUMP up volume for end of month quotas) would be encouraged by bosses to just use his/her own calculator and calculate the inflated income figure for processing: 'to make it fit.'
    The point is the Banks engineered the calculator to be used to pump up the volume..............................easy as for those approving loans. All players were told its all legal and you are there helping people to fulfil their dream...................oh what a nightmare! ASIC have know of this since 2000. Its going to get very ugly indeed. [email protected]

  • Denise
    Denise Monday, 21 April 2014

    Low Doc and Full Doc loans were developed to provide people with lifetime of debt. Loans you could never escape from, no matter if you worked three jobs! Bank officers and brokers were taught by major bankers that futuristic and electronically produced incomes were a legally acceptable way of lending. BOLLOCKS. ASIC watched as lending standards plummeted to lowest point of depravity. The agents and messengers had no idea they could go to jail for being party to a CRIME. ASIC gave the Banks a class exemption from prosecution so the major banks could fudge more documents. No Bank lenders and subsidiaries did the same in order to stay in the game. To compete, CEO's needed to be part of the fraud and use the same secret finance calculators. Nice one! So much for competition being good for us................not when all are on song with fraudulent and forged documentation such as the ilk that BFCSA has discovered. [email protected]

  • doyla66
    doyla66 Wednesday, 23 April 2014

    You have maintained the secret calculator's existence;

    The SCF and its second page ICW (Income Work Sheet - massaging income without client's knowledge)
    A few of these documents emerged
    Please post a image of the LAF Assets & Liability Statement and the corresponding Fraudulent SCF
    this secret calculator's existence and never disclosed that it was used to skew their income to say $50k up to $180k

    I can see now why BFCSA Members have been writing to ASIC and the Senators about this Service Calculator and ICW. They seem to be the first to discover its existence and share it with everyone online. I hope the Senators write about this in their report.
    Keep up the good work.

  • Denise
    Denise Thursday, 24 April 2014

    Dear Noemail, If you wish to view copy of service calculator (we have written many blogs on this and will be more) and ICW, just GO TO TOP OF home page and click onto the links UNDER BANKILEAKS. Scroll through.....and you will also find the PASSWORDS that were given to 11,000 brokers - all lenders. There are also Income Statements, LAFs and also ASIC letters. We make available all documents on our Bankileaks section that are given to authorities. Our members know the details of how these frauds occurred and the processes as they receive regular updates from us. Hope that assists you. BFCSA operates for the benefit of the wider banking and finance community. BFCSA is a collective community effort born of an ongoing tragic chapter in Australian banking and toxic loan history. No wonder the bankers do not wish this document to be exposed in the media. [email protected]

  • Denise
    Denise Thursday, 24 April 2014

    Senators have copies of the ICW and Service Calculator and so do ASIC - delivered in person. All have been fulled briefed. I will see if I can reproduce on a blog. With explanatory briefing of how it works. [email protected]

  • doyla66
    doyla66 Thursday, 24 April 2014

    The bank's internal service calculator is very different to ones provided online. I have a copy of one. Also David Liddy gave a good run down on how it is used to determine loans in a senator enquiry into Storm Financial.

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