GLOBAL SUB-PRIME CRISIS

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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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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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ASIC is suggesting yes there were sub prime loans prior to 1 July 2010.  In fact our regulatory gurus advised Government in 2007, "Houston..... we have a bit of a problem here with Full Docs and Low Docs."   Parliament responded with a raft of changes to laws and gazetted the new NCCP laws in 1 July 2009. BUT for the hapless borrowers in circa July 2009 to June 2010.....ASIC decided to give the Banks a little moratorium on prosecuting Banksters and permitted the Low Doc Scam to continue until 1 July 2010. ASIC has not a clue how to deal with consumer protection.  It only knows how to protect rackets run by Banks, including the four majors.  ASIC told the banks: "we will give you a bit of a holiday to continue to write loans, but just try and clean up the dodgy paperwork during the coming 1`2 months, or...
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  • doyla66
    doyla66 says #
    A borrower was offered a mortgage contract in 2012, in effect a refinance for the same amount. The borrower lacked the income to m
  • Denise
    Denise says #
    Hi Geoff, I wish to speak with you about this. Please contact me. I note that someone else from that email also has a similar i
  • doyla66
    doyla66 says #
    Ummm but mine was before the moratorium [2006] so what does the 'Willbees' of ASIC do? As usual they ignore the problem - - put i
  • doyla66
    doyla66 says #
    My ANZ Loan is from September, 2010. More lies from ASIC. They had be send them everything I had from ANZ, including the Skippy Fo
  • doyla66
    doyla66 says #
    Geoff, BFCSA-members' collective banging of hard heads shall dismantle any "Wall of Denial/Cover-ups" by A~SIC watch puppy, which
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