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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 TODAY TONIGHT Adelaide investigative report "BROKER-BANKS"

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Thank you Today Tonight Adelaide - It makes it so much clearer now!  Keep up those investigative reports please!

Broker Banks - Reported by Leisa Goddard   Broadcast Tuesday 4th March 2014

 

..."people need to know what is really going on behind the scenes..."  "the banks control the mortgage brokers"....

..."prior to the global financial crisis there were 400 NON BANK lenders, now there are only 20 of us around...."

 

COMMONWEALTH BANK OWNS 80% AUSSIE HOME LOANS  AND 21% SHARE IN MORTGAGE CHOICE

NAB OWNS 100% OF CHOICE HOME LOANS, PLAN AND FAST  which together makes up 30% of all brokers!

WESTPAC OWNS 100% OF RAMS

 

Today Tonight story can we viewed by clicking this link

http://www.todaytonightadelaide.com.au/stories/broker-banks

Duration 3min. 05sec

 

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Guest Thursday, 24 September 2020