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LOAN MORTGAGE INSURANCE SCAM BY BANKERS
Here in Australia, Lenders have been self insuring for years. Scary stuff then they charge the fake LMI to the clients and listed on settlement of loan as being "RISK FEE" and then DOUBLED the premium charged by insurers eg $4000 fee became $15,000 as RISK FEE. Check your settlement letter when funds paid to your bank account. And the other STING re LMI: Fee is for 30 year mortgage loan BUT, Bankers KNOW and told ASIC that most loans geared to last only 5 years as INTEREST ONLY when people can afford no longer so 30 loan intentionally implodes at the five year mark or less. So customer bank victims pay 30 year fee for 5 years use and no refund. AND IF NOT BAD ENOUGH: Client can only claim 3 months hardship x 3 occasions for the life of the fake policy.
Wonder if shareholders know of this deception?
Time to Check your settlement letter when funds paid to your bank account. Email me if you find you have been dudded - again.
denise@bfcsa.com.au
Denise L Brailey #bankRC
