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BFCSA
MORTGAGE
DISTRESS SOS

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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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Subscribe to this list via RSS Blog posts tagged in Fraudulent Loans
Where is the Australian Justice System?  ASIC snooze at the Wheel of Fortune.  ASIC snooze and you loose. Wait until the Police find out their parents have been taken for a mortgage ride. Yes indeed there are members of the State Police Forces who have had to seek help from us.   Others have asked what the pitfalls are........Police, Teachers, Nurses have been targeted by Lenders.   Bank of America may face civil charges 2 August 2013 AAP THE SEC is set to lay charges against Bank of America over mortgage-related matters, and against Merrill Lynch over a collateralised debt obligation probe.   The bank said in a regulatory filing on Thursday that the US Department of Justice told the company that it intends to file civil charges related to one or two jumbo-prime securitisations. The Securities and Exchange Commission (SEC) is also considering filing civil charges against Merrill Lynch tied to a collateralised debt obligation investigation....
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  • doyla66
    doyla66 says #
    Look how long it took to bring the Goldman Tourre Paulson case to court in the US! Movies have been made and released, books publ
  • doyla66
    doyla66 says #
    Yes Denise, only yesterday--SEC Wins as Ex-Goldman Executive Tourre Found Liable For Fraud by failing to disclose billionaire John
  • doyla66
    doyla66 says #
    In 2007 email Tourre told his girlfriend at the time that the "whole building is about to collapse anytime now," referring to fina
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Australian Major Banks are running 80% of the Mortgage Frauds across the nation.  Bank Engineers do so via the use of a service calculator named SPEEDY and, all loans are approved by SKIPPY THE COMPUTER.  Firstly, the best interest rate is a possible trick.  It could be a "Honeymoon" Rate.  Demand to take the contract home to read before you sign the Loan Application Form ("LAF"). Ask your own lawyer to read and explain the bank's contract to you before you sign the Loan Application.  That will give you some protection.  Never trust the bank's lawyers.....they draw up the contract.  Do not trust these lawyers.  Seek independent legal advice.  Ask whether the document contains the right of the bank to vary the interest rate and is their a cap on rate hikes?  Is the initial rate a Honeymoon Rate? Modify the contract and take back to the Bank and suggest: "I...
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  • doyla66
    doyla66 says #
    Never ever trust a bank. They have proven to be liars and thieves. They have set up thousands of innocent unsuspecting hard workin
  • doyla66
    doyla66 says #
    Everything Denise say is true. IT'S A TRAP RUN! The banks are corrupt, they are thieves with no conscience.
  • doyla66
    doyla66 says #
    There’s no red flag screaming ‘marketeer’ to avoid the new "Storm" thru brokers raking $50,000 'advising' clients to buy property
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The general public have had enough of weak regulators.  With Australian Securities and Investment Commission we have corrupted regulators who are literally running bankster protection rackets.  Just how did an estimated 200,000 families fall for this scandal?  There must have been some whopper lies told to customers to have them believe these loans were perfect for their financial well-being.  The truth is the LOW DOC and a swag full of FULL DOC MORTGAGE LOANS were high risk and the most expensive in town.  Of even more concern, we have uploaded the proof that the applications were "doctored" in all cases to date.....after they documents were signed and without their knowledge or authority.  It is clear from the documents that the alterations were done after the broker sent them to the banks.  The Banks knew this to be true and secretly ordered Brokers to SHRED THE ORIGINALS. I suggest the State Attorneys-General...
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  • doyla66
    doyla66 says #
    Posted on facebook by Anna Delamere Lastnight's ABC's interview with Denise was re shown this morning.... with journos comments; "
  • doyla66
    doyla66 says #
    What does Steven Muchenberg call it then? If it's not "repossession" is there another expression for it? Wearing the complainant
  • doyla66
    doyla66 says #
    Mr Muchenberg, I know your not legally qualified to speak without "strings attached", please inform Citizens Re: Secret Board Meet
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ASIC refuse to look at the Banks.........................banks paid Money Choice Guru, Matt George Commissions.  Banks took on the clients from Matt (perhaps 600?) and gladly stitched the people up with unaffordable loans as any IMPRUDENT LENDER would. No Bank wanted to stop the income stream to Matty.  Too lucrative a business.   He had 17 Banks?Lenders to choose from.  And which aggregators involved?  FAST GROUP of course and STEPHEN KANE.....the conduit to protect the banks.  No-one was protecting consumers. BFCSA have gathered together over 90 members of Money Choice that are left in a deplorable situation.  They are coming in from three states so far: WA NSW, VIC I spoke with Matt last year:  He said something extraordinary: “I always did a pensioner statement. denise....always”  Meaning he declared to the bank his clients were pensioners. He was placing all his deals to the banks via aggregators FAST GROUP – Stephen Kane involved in a n...
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  • doyla66
    doyla66 says #
    This is a classic example of white collar crime on the public and society. Hardly anything will happen to this guy but if your ch
  • doyla66
    doyla66 says #
    Good question Lisa, what does happen to his unfortunate clients who have bought properties with a toxic fraudulent loan. Very impo
  • doyla66
    doyla66 says #
    I'm glad you explained this, Denise. Otherwise I would have concluded that Matt George was the credit provider and lender. So onc
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