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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: MORTGAGE FRAUD EPIDEMIC must be exposed to rid our nation of SUB PRIME LENDING and Corrupt Bank Regulators

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Dear members

For too many years Denise has been lobbying politicians, ASIC and anyone in authority to get across the sheer magnItude of how rampant Loan Application Fraud ( LAF) is in Australia. The upcoming investigation into the banksters with former CEO David Murray as its head is an insult to the thousands of Australians who have been affected by this man and his bankster cronies.The classification of the investigation as being independent means you want experts who are not affiliated in any shape or form to the banksters, it should not mean you need the main players in the whole sordid affair to pass judgement on themselves. Unless this situation is changed starting by the removal of David Murray as its head the whole investigation will be seen as a farce and a waste of public funds.

Its apparent from recent blogs that people with mortgages after being made aware of their validity by BFCSA and its members, are now coming to the realization that the banksters are becoming extremely reluctant to hand over any information regarding LAF's.  Some are even saying "documents are missing."  Those documents if there is nothing wrong.....prove the loan was a PRUDENT LEND, but if missing, proves there is maladministration in lending.

Increased demand from consumers of all ages to produce these documents must be raising concerns back at the various bankster H/Q's as it starts to filter back that the natives are restless and asking questions.

Anyone affected by loan fraud and in support groups like ours, behind the closed doors of power, will be dismissed by these powers, as a few disgruntled borrowers who made poor and ill informed choices (albeit bank driven financial strategies) and who are now paying the ultimate price.   Politicians make decisions on the advice given to them by the department experts on banking complaint matters, in our case namely ASIC "advice".    How many Chairmen and department heads at ASIC has Denise informed of the situation over the years?  Far too many!  

The trouble is, I sincerely doubt the severity of the situation was passed onto the various governments, especially Treasury.   Politicians can only act on what they have been told by their own experts.

The fact that ASIC put in a supplement to their submission dedicated to BFCSA is clear proof that factual information Denise was providing to them over those years, was not being passed on up the chain of command and ASIC would  therefore be in breach of its own mandate to protect the consumer. Past and present Chairmen and Commissioners of ASIC are either of bankster backgrounds or go into the bankster fold after ASIC.

For too many years the politicians have dismissed us on advice from ASIC and now ASIC is under Parliamentary Inquiry for all their failings and therefore the fact they are under investigation must bring into question any advice they have given government over the years.   By the evidence on foot, their advice to our Government was surely tainted.  Any decisions made by government on ASIC advice, especially in the financial industry, must come into question.

Over the years we felt completely demoralized, after numerous letters, emails, phone calls and personal meetings with anyone who would listen the system had failed us.    No politician, various regulatory departments from ASIC down, The Federal Attorney General and not even the Police wanted to know us.  Meanwhile more people taking up mortgages, after being targeted by banksters, fell for the same Bank laid traps.

The FOS, COSL route was suggested but was dismissed because of my health issues and the adverse effects it would have on me, also no one knew of anyone having a satisfactory resolution from COSL....NO_ONE,  as usual the results always went in the banksters favour. The final blow came when a pro bono law firm in NSW said we could take it to court regards to NSW contract law (the CRA Act) and a couple of cases that borrowers had against lenders had set precedents to refer to but even with all this in our favour the law firm said the courts favour the banks and we would be up for in excess of $200,000 dollars court costs and to top it off any charges the banksters deemed fit to charge as well.

Well thats it ROCK BOTTOM, not quite a few months later the pro bono law firm notified us that they can't represent us anymore as they just realised the lender they we're pursuing on our behalf is a major client of theirs, that's it CHECKMATE no moves left just to wait for the bailiff.

It was Xmas 2012 by the time we reached this stage, we had been fighting this fight since 2007 and we're physically and mentally exhausted, its only the fact our little family is close knit and the grandkids were a god send that made Xmas bearable.  2013 was the year of our rebirth, a friend who was in our investor group had started contacting fellow investors to see what we could do and mainly for support,  Jenny and Duane we're doing a lot tougher than most with a young family of five kids but still had the decency and humanity to think of others and to try and help.

Jenny had joined BFCSA and recommended we do so, well what a game changer. As of February 2013 we have gone from the depths of despair to see a dramatic turn around in events.  We are no longer alone.

In just over ten months we have seen it just wasn't a few people in our investor group who were conned by an unscrupulous broker who was aided and abetted and TAUGHT by his bankster mates but a nation wide epidemic which now involves anyone who has a mortgage. The banksters insationable greed knows no bounds, a personal friend who is a Westpac teller said they had to flog loans to everyone who came to her window, she said they had to push product harder and harder while reducing staffing numbers.

These eronious orders are coming from the top and I'm sure alot of the older bank managers arn't comfortable with this and are only being quiet while awaiting retirement.

2013 was a good year, a Senate investigation called for into ASIC with all the submission revelations online for the world to see, an investigation into the banksters and I hope some of our savvy media types will follow through once they start and bring pressure to bare so the banksters can't bury their dirty work any longer. The start of this year even looks more promising, at last we will be seen.

ASIC might dismiss us but the fact that we have made a physical effort to go to Canberra cannot be dismissed. Once in the public gaze our mantra should be PUBLICITY, PUBLICITY, PUBLICITY , we don't know how long before we might get another opportunity to do this. I've been thinking that while we advertise the facts we were defrauded by the various banksters the public thinks that this is our own personal experiences and doesn't concern alot of people. If we put the main focus on the fact that anyone who has a mortgage could end up like us then this might generate more interest from the public and therefore bring more pressure to bare on our reticent politicians.  

E.G a T-shirt with every mortgage in Australia is TOXIC ask your bank for your FULL Loan Application Form

I personally know of people who have shut down and given up hope and when I have tried to reassure them they say "whats the use" so if our trip to Canberra can generate nationwide publicity hopefully this will bring the untold numbers from the woodwork so they too can be helped.

Finally members if you haven't gathered I can talk and write a lot . To write a blog on the BFCSA website beats therapy hands down, we won't judge you by what you write, for too long we all fought this fight alone and couldn't understand why everything was against us . It was by chance we found BFCSA and what an enlightenment its been, we now understand what part we all played in this diabolical game. So members dust of those keyboards and write a blog we want to hear from you because the more of us that speak out the louder our voices. Thanks Neil T.

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  • doyla66
    doyla66 Monday, 06 January 2014


    NT..... You make me feel like I am not alone.
    I read your words and every Blog I read from you and DB makes me stronger. THANKYOU
    I spoke to ANZ today, I only answered the call to tell him not to call anymore, he was to only write or email.
    He had to try and bring me down and said, " have you contacted your broker, I don't think ANZ has altered anything"
    I just hung up, I couldn't be bothered, I was playing with my kids.
    I thought to my self, he is just some pleb sitting behind a desk being told what to say. He has no real idea what's going on, or what's about to go on and certainly has no idea about the life I am living and he couldn't care less!
    I won't give up! I am determined to see this through and the more I learn, the better it is for my young children.
    I agree, since joining BFCSA, I see the light, I have discovered why life has been so hard. Although I feel like I have the fight of my life on my hands, I sleep better knowing I am not alone, I have support, I have guidance and I am not alone.
    We all know that feeling..... Thank god for this group, thank god for DB and her efforts for a better and brighter future for our children, grandchildren and there children.
    I love your Blogs and look forward to reading yours and DB words everyday.

  • doyla66
    doyla66 Monday, 06 January 2014

    Our little group is now gaining momentum. It is good to know that we are not alone. Denise's effort have brought us all together. It is great to see new bloggers having their say. You start to think that you must have been the most stupid person God ever put breath into for a while until more and more stories come out. It is not surprising to see they are all much the same. Fraud, deceit and general distaste for us as customers. Pests to the Lenders. I know I have felt like a leper when dealing with the Nab's lawyers. It is the bullying that is hard to get used to. It just never ends it seems. Even now 6 months after being evicted from our home the bullying continues.

  • doyla66
    doyla66 Monday, 06 January 2014

    GFS, thankyou for your kind words of encouragement, its through adversity that we have all been brought together, our unity is our strength. Sometimes in one's life we have to stand our ground and say "enough is enough, I'm not going to take this anymore". Well that times now and we will make our presence felt when as many as possible meet up in Canberra in support for Denise at the Senate hearings into ASIC. Thanks NT

  • doyla66
    doyla66 Tuesday, 07 January 2014

    If here is such a thing as reincarnation am starting to think once we must all have been resistance fighters and who we are fighting are who were then the enemy for that is certainly how they are acting. Funny thing is the first site that came up when I decided better learn how this fractionalised (i.e. broken) reserve baking (sorry meant banking) system was was a very interesting site stating it was used by you know WWII. Maybe it's time for a certain person with thin down turned lips to grow a moustache!

  • doyla66
    doyla66 Tuesday, 14 January 2014

    RBA broken biscuit factory? :D Or cooking the books more likely!
    Have you seen the series on the origins of "risk free" credit (from the "lender" perspective) on PBS in the US? It filled in the blanks for me. Long, 4 part series, but well worth watching IMHO.
    Once again it underlines the need for wisdom and foresight: Just because it looks like a good idea doesn't mean it should be tried. Risk free credit put all the risk on the shoulders of the credit clients ("borrowers") leading to death and destruction. Along with this came Jamie Dimon and Larry Summers, who set out to weaken/destroy the regulators world wide. Journo Greg Palast blew the whistle last year.
    And I agree, resistance fighters we are indeed. Plenty more like us on Twitter following developments via BFCSA site. We do bring hope to the tired, sick, downtrodden, abused and cheated home owners and the defrauded broken hearted victims of legal error and bias in this dirty Banking scam.

  • doyla66
    doyla66 Tuesday, 07 January 2014

    Neil it is well and truely evident we are certainly not alone any more

    Well done to you Neil for your persistence and to our illustrious leader Denise Brailey who has become our shining light. Like you Neil about the same sort of timing, some years of fighting the battle alone (so I thought) and then also aligned to our group of about 130 people all affected by one very dodgey broker we stumbled upon Denise by sheer chance. We have achieved greatness over the past 18 months between the alignment of our little group who managed to get the dirty broker deregulated and then with Denise's help I have managed to get my FOS Case to Senior Investigation Level. The big problem is of course getting FOS to see the case for what it is they keep referring to the broker as the guilty party (and yes no doubt he is nothing but a crook) but someone must approve the loan and no one but the two banks involved could do that. Based on the information supplied by us at the time even though the loans be LOW DOC we had been in business for over ten years when they were raised and had no problems supplying our last three years figures (the same ones we had supplied to the taxation department). The banks although taking the figures we supplied, never used what we gave them instead preferring to insert the figures required to procure the loan than use the real ones supplied which we now know would have fallen a long way short of the figure needed to make the loan a reality. I believe that we all have done an extraordinary job considering that the system really does go against us, its now time to see if our politicians really do have our (the voters) best interests in mind. Lets be honest and above board with our politicians and let them know that if they are not going to support their constituents they will only ever be one term wonders and that will apply to either party without exception. I on the other hand have extreme faith in our Senators and believe the probe for the truth in relation to the ASIC and the Banking and Finance fiasco will be treated with the importance it holds in the determining of many decent peoples lives. I unfortunately will finish on a negative with my extreme disappointment in our Treasurer elect Mr Hockey just consequently a man I held a great deal of respect for until his very poor appointment of the panel installed to investigate a root and branch inquiry into our criminally driven Banking and Finance Industries. Shame on you Mr Hockey pandering to long term friendships and giving jobs to mates has destroyed your credibility, we as the voting public (many votes directed to you on this one very important issue) have been left angry and disillusioned . I hope you rethink your appointments Mr Hockey as that would show a real sign of a man determined to seek the truth and not just another glory hunting distortion effort at deflecting plebs into lives of poverty after a hollow giving. Keep up your great work Denise and you too Neil, the word is getting to the masses and 2014 will be the year where exposure will come thick and fast our time has come. Just a word of note ask your Bank for your real documents wet ink as our politicians allowed our Banks to destroy our originals and keep them only as electronic copy, this was made as law by legislation last year. We do not know when or by who but it is apparently true and this has been stated to me by my FOS case file manager my opinion is that if original signed documents are destroyed that contract no longer exists. We will chase this one up as our New Year quest and hopefully this ridiculous piece of legislation will be rescinded.

  • Denise
    Denise Tuesday, 07 January 2014

    Thanks Cody. Yes its been a decade of lobbying. But by collecting data (ASIC's job) BFCSA has the proof of what the banks were doing under the guise of self regulation. As you would expect where big money involved........NO DOCS were being sold as LOW DOCS and you heard that gob smacking revelation on the BFCSA site first. We have the proof. All these loans were NO DOCS but signed up on LOW DOC forms to hide the criminal element of the lending practices. Bankers worked feverishly as a Cartel for massive $4million in bonuses per year. All will be revealed. By joining all the sub groups together its has made us all stronger in spirit. The Mortgage Market has become a massive crime scene with the greatest scam this nation has ever experienced. Its a good thing Mr Hockey has chosen his mates for the Inquiry.........the public and the media will be digging into the past of all those tainted by that very Panel. It will be such a white-wash as to instigate a very public demand for a Royal Commission. To think of targeting ARIPs: Asset Rich Income Poor pensioners is morally bankrupt. To actually carry out the deeds and covet and boast of $50 Billion as a "new market" to steal homes. Well that just takes the cake. How did these Banksters and Mates ever think it would not all unravel one [email protected]
    The nation is in need of a properly funded Consumer Protection Agency run by consumers - not run by Banksters. If we uncovered this scam as volunteers, just think what we could achieve with a levy on every mortgage - for consumer protection purposes.

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