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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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BFCSA: Great comment by a BFCSA reader re Mortgage Brokers...

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This comment is worth blogging

Warren K     Tuesday, 21 January 2014 ·                         

"Just a couple of quick points Neil that are worth mentioning

As usual Neil your points are well worth a read. I just noticed your first blog regarding the Broker blaming the customer for inflating incomes to get a loan approved, as we all know there is only one person or entity in the chain that can approve the loan and that is the BANK.

Of course interesting to note when did the Broker decide that the customer had given him dodgy figures, when he sent them to the Bank to get the loan approved, when the Bank stopped paying his commissions because they have been told by FOS about the customer bringing action against them, or was it when the Bank put their hands in the air and said it wasn't us it was the Broker.

Wake up Brokers you weren't getting big fat commission cheques, O.S holidays, weekends away all paid for or nice restaurant meals free gratis just coz the Banksters loved your work NO SIREE they wanted patsys, fall guys, you were all their pet monkeys while they did the organ grinding.

You hit the nail on the head with the education side of things too Neil for a large percentage of the glory days while brokers were being recruited the qualification period to become a Broker was an extensive two day course. You did not have to have any more schooling than a leavers certificate however you were encouraged to seek higher education if you wanted to make Mortgage Broking a career. For god sake the moron that sucked us in was a washing machine salesman just two years before opening up his own mortgage broking and investment office.

I think we all got caught thinking that this dubious profession had a greater entry level than what we found out much too late. My personal opinion of Broking and Investment Planning was that it must have required years of study and was a very respectable profession seeing as though these people were being entrusted with the biggest purchases you would make probably in your entire lives. Little did we all know that it was purely a profession ( no sorry not a profession, to be a professional you need more than a two day qualification) for money grabbers with nothing more in mind than a quick buck, well along with a quick buck comes consequences.

Your greatest opportunity is now, any Brokers if you are reading this site and you saw displays of pure dishonesty or you were asked by the Banksters to do thing with or to customer files that were unethical or just morally wrong your chance to live without a conscience full of regrets for not standing for what is right will forever be gone. Decent peoples lives have forever been change with a few strokes of a poison pen and some lives which it truly saddens me to say have been lost forever to their families who are left to lament the day they met their Broker who introduced them to their Bankster.

I implore anybody Broker or Banker with the strength and the conviction to say I know what I saw and did was wrong and I am going to make myself stand above the others and give Denise Brailey the information she requires to rid the activities of these common crooks from our society.

Keep fighting the good fight: Bloggers, Readers and BFCSA members.  187,000 hits from around the Globe - and rising.

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