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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: Rubber Stamp Mortgages By Australian Banks: The Computerised SERVICE CALCULATOR fudged your figures

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The endless stream of "Our Story" blogs from members highlights the abject dishonesty of Australian Securities and Investment Commission("ASIC").  ASIC and it's agencies say "NO SYSTEMIC ISSUES" and "we have seen no evidence....etc"  ASIC has failed on all levels to completely cover up these wrong-doings in the banking sector.  These frauds and "maladministration in lending" are running through the Banking Ombudsman's office at FOS, like a dose of epsom salts.  

Each consumer complaint is a crime scene in its own right.  

State Police should tie a yellow ribbon around every state in Australia and call it a WHITE COLLAR CRIME SCENE.  These monstrous criminal activities were engineered by the Executive level of the Major Banks, yet ASIC has not nailed one banker.  Why?  Well that's the $100 billion question as to why mostly older Australians were targeted for equity loans to invest the proceeds of 40 years of saving and living the modest dream of ONE ASSET: the famjily home.

Bankers engineered a monstrous plan by recognising that over $50 billion of home ownership - mortgage free - lay in the older Australian market and the greed driven bankers labelled these people as ASSET RICH AND INCOME POOR: ARIP's.

Bankers then used Business Managers to teach Broker Agents to target ARIP's and use bank driven strategies as to how to convince older citizens that "you are stupid for leaving dead money equity in your home.  Make your home work for you."

18% of toxic loans were written by bank managers and no broker involved - same fraudulent loans.

One in five citizens who owned their own home, fell for this ruse and are now facing homelessness thanks to ASIC Chiefs!  

ASIC continues to chase Brokers here and there, around 20 per year from 11,000 brokers all using the same Banker's Weapon: the SERVICE CALCULATOR engineered by the Banks.  ASIC fails to take action against the MR BIGs of the Toxic Mortgage Loan Scandal.  

Australians are now seeing for the first time the emergence of our own dreadful SUB PRIME LENDING HORROR.

Will this impact our economy; to see one in five older homeowners thrown out into the street?   Economists think so.  

Broker Agents (paid by the banks, acting in the bank's interest and their own and not in the interest of the targeted customer) are the one's ASIC is now targeting.  ASIC is now the subject of a Senate Inquiry into their own conduct and performance.....a first in our regulatory history. ASIC has to pretend it now cares about consumers after a decade and more of neglectful and lethargic public responses.

Low Doc Mortgage Loans were only supposed to be for business people.  Yet the product was misused over and again with FAKE ABN numbers or Bank engineered "ABN for a Day Scams."   Banks told ASIC their clients were "investors" and that was another LIE.  Bankers tried to re-label people as "sophisticated investors" on the myriad of scams that has PLAGUED THIS NATION for the past three decades since de-regulation.

Retirees have lost billions in managed investment scams and every one of those scams harbours a crooked banker and lawyer.  Now Pensioners have been targeted as ARIP's.......and the game plays on..........have been instructed by Brokers and Bank Managers to borrow from their own home and make money by "investing in the property market" and creating the BIGGEST BUBBLES ON BUBBLES this country has seen.

Bankers decided in the nineties to CHECK NO FINANCIAL DETAILS, but invented a SERVICE CALCULATOR (a scurrilous computerized program with passwords given to agents and staff).  This "gizmo" predicted one size fits all FAKE INCOMES, using englobo and fanciful futuristic incomes and tax advantages.  Its a grand farce and grand larceny to allow banks to lower lending standards to such a level.

The result:  The secretly hidden document known as THE LOAN APPLICATION FORM ("LAF") shows "basic income" say $40,000 (entered by the Broker) and a futuristic income is generated BY THE BANKSTERS as being $180, all cases......................similar example.

The Broker Agent is neither licensed not trained to approve loans - just send in proposals known as LAFs.  Now ASIC has permitted the Bankers to shred all this evidence.  ASIC has known of the scam for over a decade and did nothing to stop the carnage.

ALL OF THESE MORTGAGE LOANS were unaffordable (ie Maladministration in Lending)

All of these mortgages are TOXIC and contain FRAUD and in some cases FORGERY and in many cases this was executed after the LAF was FAXED by the Broker to the Bank.

Bank Staff used gallons of white-out to cover the broker figure copies by the agent from the calculator, and in doing so pumped up the income figures to higher levels.  Yes, we have the proof.  Internal Banker driven Emails tell staff to PUMP UP THE VOLUME!  These directives to internal bank staff were coming from the executive suite of the Major Banks acting as a cartel with non bank lenders and its own subsidiaries.

THIS IS INDEED A RUBBER STAMP BANKING was instructed to check the financial details.  Yet the Banks' statutory obligations owed to identify the borrower by picking up the personal IDENTIFICATION papers from the intended victim, were fulfilled by their AGENT.

Judges have ruled the broker IS THE AGENT OF THE BANK in several court cases to date.  

  • ASIC is even failing to TAKE THE LEAD FROM THE COURTS.
  • ASIC staffers are lying to Parliament as we have the evidence and the proof of their breath-taking denials and untruths.  
  • ASIC refuse to investigate the obvious perpetrators of these crimes: THE LENDERS
  • ASIC KNEW what the Banksters were up to and did nothing to save these Mums and Dads.
  • ASIC cannot serve two masters:  Crooked Lenders as opposed to consumer interests.
  • ASIC licensed the Ombudsman's services to cover up the truth.....all are on song: No systemic issues!
  • COSL tell ASIC "we closed so many files because fraud was found............................"
  • FOS admit the Fraud and Maladministration but misrepresent the figures as being "85% settled by agreement"  
  • Another lie deserving of a Royal Commission and backed up by ASIC.

RUBBER STAMP MORTGAGES are a dream product for cartels and criminal activities and those practices must be examined in a ROYAL COMMISSION into banking, if Australia is ever to attempt to regain any sort of integrity in Banking and Finance.

Those robbed of their homes, their health, their retirement, their dignity are in fact the Baby Boomers and I doubt they will be as meek and mild as their predecessors: the victims of the Banksters in the Great Depression 1929............................lest we forget.   This email address is being protected from spambots. You need JavaScript enabled to view it.

PS: Wait for the Banksters to say: "the computer did it!"  "Was there a Bankers Code?  Yes but no-one is there to enforce it."


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  • doyla66
    doyla66 Wednesday, 05 February 2014

    At the risk of repeating myself how could they ever get away with a whopper like the computer did it, when the Banksters developed the computer software to deceive brokers and borrowers. It was all against the law!
    Guess they had better dwell very hard re that before making another u tube video or again going on A Current Affair in an attempt to absolve themselves of any blame.
    Rubber Stamped mortgage approvals? So why did ASIC allow this for so long? Why did ASIC allow the Banks to ignore the code of no unaffordable lending? They allowed this scams for a decade? We need a Royal Comm for sure.

  • doyla66
    doyla66 Thursday, 06 February 2014

    Banks were allowed to alter documents with ASIC and FOS's blessing no questions asked

    I keep hitting this stumbling block with FOS they tell me there is no evidence of us giving the Bank 3 years worth of taxation figures the very same ones we lodged through our accountant to the TAXATION DEPARTMENT (which we did). It has now been left up to me to try to find some sort of evidence that we did in fact supply these documents to the BANK. Now the other end of the scale the BANKSTER has drastically inflated my income on the LOAN APPLICATION FORM of which I have seen copy of and my signature at the end of the document, but it is not on any page containing my figures. My hand writing appears on the assets and liabilities side of the application but the figures for our income are on another page altogether and the figure is computer printed and generated. Now when I pointed this out to our FOS Case Manager he said nothing unusual in that my response to that is where have the figures gone from the page in my own handwriting he said it was obviously never entered as we have signed off on the trailing pages. Now that might hold water if in fact it were true that we had left it up to the BANKSTERS to write it in without verifying it but that is in fact a LIE. It was there and the it has been whited out but the evidence of that is gone due to the fact that the Bank have already said to our Case Manager our file has been destroyed due to the fact that they can now keep electronic file only for their records. My understanding is that any document containing my signature is not to be destroyed or tampered with altered or pages culled in any way without my or both parties written consent, to do so without consent is to deem that contract NULL and VOID. I suppose my greatest concern is that we the customer have been made to jump through hoops to explain what documentation we have supplied to the Banksters or Brokers. And yet it is just taken as gospel by the regulators that the Banksters are telling the truth and we have to prove they have lied yet we did not destroy the only evidence "THE CONTRACT" as the Banksters did. If this electronic handling of documents thing the Banksters are declaring were true and they require too much holding space to store everybody's documentation why as part of the course is it not offered and given back to the customer for safe keeping and the Banksters just retain it electronically. There of course is a great reason behind that one, their is FRAUD in all of the MORTGAGES written during the period in question and by having the LEGISLATION passed that allowed them to destroy the documents they also destroyed the evidence. I would suppose almost all of us frantically went through our homes trying to find copies of the contracts and the LAF's without success, we thought little of it at the time and thought it was misplaced and would turn up we then realised we could never remember seeing one supplied to us and that because it wasn't supplied to us. During all the chaos of getting paperwork from here and paperwork from there when doing an investment you forget what you have and havnt got and just convinently for the Banksters they forgot to send them as we now know.
    Keep plugging away everybody every little bit of evidence gathered is another step toward completing the jigsaw, we have gone back over so many documents and emails and are slowly but surely building a profile of course it would all be easier if the Banksters would just own up to their crooked ways get it over and let life go on.

  • doyla66
    doyla66 Thursday, 06 February 2014


    I have only just started but from all the story's I have read it has made me extremely nervous and I am working every day on solving the crime, piecing it all together like a jigsaw. If only, I agree, if only the banksters would own up and take responsibility.... If only!!!!!
    But NO.....they never will.... Even though they PROFIT from fraud.
    How on earth did it come to this?
    They will make this as hard as possible and guess what??? So will WE.
    The banksters are playing a game, a VERY DIRTY game.
    I sit and wonder from my desk everyday what their wives and kids would be doing as I sit and work out this mess.
    I bet they have no idea what their husbands and daddy's have done and are doing to this country.
    We just need one good bankster to BRING it all down.......
    So many people have NFI that their loans are TOXIC.
    I have a friend who's husband hung himself..... No letter, no explaination, NOTHING
    Just lots of debt left behind.....
    In recent months of my eyes being wide open to this dirty banking behaviour, I now have my suspicions as to what might have made him do it........THE BANKS
    Hang in everyone, hang in there.
    The change is on its way.
    Between DB and us and her team we can fight these banking bastards.
    THE BANKS are in deep shit and there is no way out.
    For those of us that still have our homes, may justice be just around the corner and for those who have lost their homes may justice, an apology and compensation be just around the corner.
    Why are we doing this? To build a better future so the next G won't endure what we have.
    May this go down in history as the biggest banking FIASCO Australia has ever seen.

  • doyla66
    doyla66 Thursday, 06 February 2014


    Again I will jump on the phone and request my god dam paperwork!
    I have some but I want it all.
    These banks are so hard to deal with...... Bunch of crooks they are!!!!
    Bring on the ROYAL COMMISSION......

  • doyla66
    doyla66 Thursday, 06 February 2014

    FOS seem to be in bed with the banksters it can be said. FOS believe everything the banksters say and do, or should I say don't and can't. Like providing copies of LAF's etc. Nab in our case had plenty of time to sift through the contents of the loan file and destroy anything in there that may incriminate them. Which I believe they did. How can a complete file disappear when neither the hard copy nor electronic copy be found. In this day an age that is a ludicrous statement, but FOS accepted Nab's story.

  • doyla66
    doyla66 Thursday, 06 February 2014


    I think your right....they set u up
    Thats very scary
    Shouldnt it just be all voided
    No documents
    No loan
    If only it was that simple

  • doyla66
    doyla66 Friday, 07 February 2014

    Greedy bankers: Please Note - to retrieve all loan files simply
    1.Input customer details
    2.Type in the loan number
    Hit enter and up she comes,presto one complete loan file for MR and Mrs..............and somewhere in cyberspace,every loan application,mortgage contract ever written will be stored.
    So come on bankers start pressing buttons and stop covering up crimes!

  • doyla66
    doyla66 Friday, 07 February 2014

    Ditto Honesty - even saw it done in front of my own eyes a few times by my Bank Manager when all the help to assist (sorry meant further cripple) was offered. Funny how he forgot how to do when I asked for a copy at the bitter end and said not able to access and even if able not able to provide!

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