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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 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.

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Dear Senator Dastyari  As Treasurer, why isn't Joe Hockey reigning in both ASIC and these Bankers over CRIMINAL CONDUCT, CARTELS and CORRUPTION of the Banking System?  We have faulty products, risk laden lending policies, financial ruin and a chaotic mortgage market pushing up a mind boggling BUBBLE in the property sector.  Its time for us all to toughen up! $200 BILLION in losses.  BFCSA Members have a few questions of our own we wish you to ask.  See LIST of Questions further on. I have appeared as a witness in the Senate on behalf of over 2000 people who have been caught up in The Toxic Mortgage Loan Scandal. These loans were created by the Banking Cartel of 17 lenders including the BIG FOUR.  The loans were systemically manufactured and distributed as financial products by the Lenders. Planners and Brokers were pawns used by Bankers to believe they were selling legally...
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The three forces pushing Australia towards recession  Callum Pickering   23 July 2014  http://www.businessspectator.com.au/article/2014/7/23/australian-news/three-forces-pushing-australia-towards-recession     Rampant speculation in the Australian and Chinese property sectors leaves our banking and mining sectors vulnerable to collapse within the next three years.   Toxic lending and short-sighted policy have left us poorly placed to handle an economic shock, particularly if it originates in China. These are the startling views featured in a recent book by former strategy consultant, Lindsay David, in Australia: Boom to Bust.   I sat down with David to discuss his book and the broader implications of Australia’s rapidly rising indebtedness, and China’s obsession with property investment. According to David, the Australian economy is set up around three central pillars: banking, real estate and mining.   During the good times -- and with the support of China -- this set-up has proved conducive to strong economic growth, with Australia experiencing a post-war boom that...
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  • Louie2U
    Louie2U says #
    They are also among the most leveraged financial institutions in the world. That statement alone at the beginning of the 7th para
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The big danger is if RBA raise interest rates the entire Interest Only Loan Mortgage Market will collapse as the horror stories emerge.  People coerced into paying DEBT with more debt as "buffer loans."  Property market slips and those debts will reveal 120% LVR loans........................huge number of unaffordable junk mortgages, approved by major banks. Warning to bank shareholders is in this statement: "The big banks are also propelled by a favourable industry structure, where the high levels of concentration deliver pricing power, and are big beneficiaries from the profitability of mortgages, which dominate their asset books."   No mention of Sub Prime lending where most of the profits are coming from.  This email address is being protected from spambots. You need JavaScript enabled to view it.   Big banks to report $29b in profit   Some fund managers saw the heavy sell-down of bank stocks as a chance to grab some bargains, suggesting that the negative sentiment around the financial system inquiry may be overblown . James Eyers  AFR...
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