GLOBAL SUB-PRIME CRISIS

BANKILEAKS

Click on our Secret Library of Evidence ------>

    BANKILEAKS Secret Library

Loan Application Forms (LAF's)  

    Bank Emails to Brokers  

    Then Click on 'VIEW NOTEBOOK'

Join us on facebook
 

facebook3           facebook2 

BFCSA
MORTGAGE
DISTRESS SOS

What BFCSA Does...

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.

Visitors

Articles View Hits
544085

Whistleblowers' Corner!

To all mortgage brokers, BDMs and loan approval officers! 
Pls Call Denise: 0401 642 344 

"Confidentiality is assured."

Cartoon Corner

Lighten your load today and "Laugh all the way to the bank!"

BFCSA Blog

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.

Click on the Cluster Map.

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Login
    Login Login form

BFCSA: Dear Prime Minster and Treasurer: ASIC Has Been Lying to You

Posted by on in ROYAL COMMISSION URGENT
  • Font size: Larger Smaller
  • Hits: 1118
  • 3 Comments
  • Print

 

Dear Prime Minster and Treasurer

The reason for this request:

I recently had cause to review my loan documents, related to our mortgage I with the banks. During that process I discovered several serious anomalies in copies I have of the loan Application Forms. (LAF’s) that our bank used to approve our original loan.

These seem to constitute serious corporate maladministration.

The Loan Serviceability Calculator ‘is the crucial document that the banks use to determine affordability and therefore approval, and as such, by law I ought to have been given a copy at the time of signing. In fact the calculator’ would have been attached to the signed application form, because the bank instructed is brokers to ensure the calculator was part of the faxed bundle off documents required for the loan approval. Without these crucial documents the loan could not and would not have been approved and processed in the first place.

The Primary allegation of maladministration is that a person or persons unknown altered the original loan Application Form (LAF)That was  submitted to the bank unknown time ,after my signature was obtained and without my authority or knowledge.

Examples include, but are not limited to:

  1. My Actual total income has been changed and in fact overstated, contrary to document proof that was provided at the time, in the form of tax returns.

  2. The actual value of my assets has been changed and in fact overstated.

  3. The Actual cost of my expenses had been changed and in faced understated

I repeat: These changes were made to my LAF, AFTER I signed and the documents were send to the bank these changes were made by person or persons (Money Choice staff) unknown to me, without my authority, permission or knowledge.

Given the seemingly fraudulent nature of the bank’s loan approval methods and the seriousness of the allegations put forward, it is my assertion that this blatant mortgage maladministration’s is an unacceptable state of affairs and that the banks are committing maladministration through LAF manipulation and questionable, possibly unlawful financial and corporate practices.

Several shocking facts have been highlighted at the recent Senate Economics References Committee hearing:

  1. Australian homes are under deliberate attack from the banking sector.

  2. This LAF maladministration was created and developed by our banks in the 1990’s and has continued unchecked since then.

  3. ASIC have been lying to government by suggesting there are no systemic maladministration issues regarding mortgage loans in Australia.

  4. Through lack of disclosure and bullying by banks, lawyers.

  5. Ordinary Australians are suffering the loss of their homes and hard earned assets daily by the hundreds.

  6. Mr Guy Goldrick’s comments related to the double dipping by the Australian banks are engaging in, through their loan practices ,possibly constituting serious securities maladministration

Other Considerations:

  1. The Brokers did not invent the SERVICES CALCULATOR method of fudging income figures, the banks did.

  2. The brokers did not then invent the NO DOC loan, the banks did.

  3. Brokers did not invent the legal contacts, the stationary, the entire structure, the banks did

  4. Brokers did not approve the loans, the banks did

  5. Most brokers do not even know each other while bankers collude regularly

  6. The entire mortgage market could be containing a giant PONZI

  7. The Government has been briefed by regulators that FULL DOC mortgages are safe from tampering with singed documents, without the knowledge or authority of the victims, after they have been lodged by the borrower.

  8. Consumer support groups and discovery at the recent Senate hearing received overwhelming evidence that DOES NOT support the claim of the regulators.

  9. Banks cannot profit from maladministration

  10. The OFM is a major supporter and investor in Australian RMBS, which brings into question the government’s possible involvement in fraudulent investment, already to the value of $12,000,000,000 with AOFM planning to add other $4,000.000,000 of RMBS to its portfolio

  11. The Australian government cannot profit from maladministration nor put the Australian taxpayer up as the guarantor for these investments if they default.

I AM BRINGING THIS MATTER TO YOUR ATTENTION, PRIME MINSTER, BECAUSE SERIOUS SYSTEMATIC MORTGAGE AND LAF MALADMINISTRATION BY OUR BIG 4 BANKS AND OTHER LICENSED LENDERS, WHICH INCLUDES MY BANK, WOULD SEEM TO BE A CRIME AGAINST THE COMMONWEALTH (THAT IS THE NATION PEOPLE) AND THEREFORE A CRIME AGAINST OUR NATION.

 

Dear Prime Minster and Treasurer,

 I know that it is my duty to keep you both informed of MY WILL on anything that comes before Parliament, or that should come before Parliament.

 

 

 

IT IS MY WILL THAT YOU TAKE IMMEDIATE ACTION TO:

  1. Initiate a ROYAL COMMISSION with broad terms of reference, into the Australian BANKING SECTOR.

  2. Freeze all mortgage repayments for all residential and investment mortgages for the duration of the ROYAL COMMISSION.

  3. Immediately extinguish all mortgages that are found to be part of securitization maladministration or loan Application Form Maladministration, allowing Australian’s the security of home and hearth that is their undeniable right.

  4. Halt the practice of Residential Mortgage Backed Securities immediately, as this practice breaks the chain of Title, irrevocably changes the nature of the original negotiable instrument and, due to dipping, is evidence of widespread securities maladministration by the parties involved.

  5. Force the responsible banks to reinstate or compensate to the full value of the accumulated losses for each family or individual that has lost their home, saving or other assets, due to the unconscionable conduct of the banks, their insurance companies and their legal agents.

  6. Publish the full details of the extent of illegal foreclosure in Australia, over the last 10 years and to name those banks, CEO’S and compliance Executives.

  7. Charge and bring to justices, those Executives and Administrators who are responsible for obstructing public knowledge of this national disgrace.

  8. Admit that the RBA is simply a company whose main goal is profit and not the welfare of the Australian economy.

  9. Apply the same corporate ownership rules to banks that apply to all other industries to prevent a monopoly.

  10. Introduce as part of the primary and high school curricula, basic, intermediate and advanced financial education and management skills, so that future generations can make intelligent decisions about their personal financial considerations.

 

AS I HAVE COMPLIED WITH MY OBLIGATION TO INFORM YOU OF MY WILL IN THIS MATTER, IT IS EXPECTED THAT YOU ADVISE ME OF YOUR PERSONAL ACTION IN REPRESENTING ME IN ACCORDANCE WITH YOUR OATH OF LOYALTY IN ACCORDANCE WITH AUSTRALIA CONSTITUTION.

 

 

 

Last modified on
Rate this blog entry:

Comments

  • MickyD1112
    MickyD1112 Tuesday, 29 March 2016

    The sentence should be no less than 30+ years which is no less than what Westpac have given us with their dodgy LAF and illegal use of the Service Calculator

  • Magie
    Magie Tuesday, 29 March 2016

    Totally agree with you my LOF was changed after signing and it is very obvious by another hand. I thought I was getting a home loan and a small business loan but the ANZ gave me 2 business loans.

  • Jenny L
    Jenny L Sunday, 03 April 2016

    The bankers and their "independent" EDR mates like ours COSL are up to their ears in it. Let a Royal Commission uncover their deplorable behaviour!

  • Please login first in order for you to submit comments