BFCSA Banking & Finance Consumers Support Association
BEHIND THE SCENES LOOK AT BANKERS DEVIOUS SERVICE CALCULATOR MORTGAGE FRAUD
I suggest you try to find the link to TODAY TONIGHTs Channel Seven HEWITT's Story. Went to air Friday 9th December
Hewitt's Service Calculator "own" version was THE TRUE INCOME of course. I have copies. It was prepared by an accountant recently. There was no "new information." CBA refused to give Hewitts or me the bank's own copy of their calculator document on file. The Bank engineered a fake Calculator page contrived by CBA's fudged income computerised calculator to project dodgy fake, futuristic income projections - without the clients knowing the bank was doing this of course.
We have been giving evidence to Parliament for well over 5 years re these evil calculators. ASIC gave an evil exemption to Banks to sue this system of deceit re INCOME FUDGING in 2005 re C0 #1122/05. Devious Bankers will NOT Provide this vital document which shows every customer earning around $100k more than the true income. ITS A MORTGAGE SCAM. Bankers, ASIC and FOS and COLIN NEAVE deviously tell customer bank mortgage fraud victims that this document is "commercially sensitive." That is: "banks wish to hide this document from the public and customers to protect their own sorry arse!"
The rhetorical claptrap from the Banks in testimony to Parliament is completely false. The documents are discoverable under S6 and s12 of The Privacy Act. Bankers break the law against customer best interest at every turn. ASIC and FOS ASSISTED THE BANKERS and COVER UPS OF TRUTH at every chance they could. The files contain financial details belonging to the customer. The customers are entitled to those financial documents under law. Customers have a right to see what the file looked like when the banks made the decision to APPROVE their LOAN and "that which the bank relied upon to make that vital, life changing DECISION."
Hewitts caught the Bank out!!! They are BFCSA members. They did so by producing their own CORRECT VERSION of the bankers own dastardly calculator. CBA WENT GULP and quickly became the lead fireman for all banks pulling off the same scam. LOAN WAS UNAFFORDABLE of course!!!! Hewitts are BFCSA members and again very ordinary decent Mum and Dad working and providing for their own children and paying off a small mortgage after 20 years hard slog. They saw an add on the internet and the Bankers swooped in for the kill.
Brokers and Bank managers were being taught by Bank Business Development managers, on orders from THE TOP to copy the figure engineered by the Banks' calculators not the LAF. Sellers were taught DO NOT SHOW the Borrower, but were also told this system of dressing up negative gearing figures was all within the law according to their Bank Lawyers. Sellers did not know the calculation mechanisms were fake. Sellers fell for the same ruse and were taught to practice on their parents as well. The BANK SCAM worked like a charm for over two decades.
There are also valuation SCAMS, and ABN and GST SCAMS to add to the mix. The 17 members of the CARTEL made a motza by "asset-stealing" and targeting ARIPs. Bank staff had n idea of the mechanics of these loans. NO PERSON APPROVED THE LOANS. Mortgages have been digitilised and all loans approved by SKIPPY THE COMPUTER! Sellers across the nation and in NZ were taught to copy bank calculated income figures from the bank serviceability/amortised computer program and copy the calculation of the futuristic income figure on the LAF. Its a set up and no accident of nature.
Nor is it the fault of the broker or seller. Banks approved the dodgy loan as in $300 billion worth of similar 30 years INTEREST ONLY crap mortgage loans! But the moment TV crew arrived on bank's doorstep, 3 months after loan approval, Bank adopted a different view: "oh golly gosh our computer has been a naughty boy.............the TRUE INCOME FIGURES are the very same ones handed to the bank via pay slips and tax returns 3 months ago.
There was no new information provided: The service calculator written out by the Hewitts is simply a correct version of what the CALCULATOR should look like based upon true incomes and backed up by pay lips and tax returns. The fraudulent paperwork is a BANK CARTEL SCAM of huge proportions. That is precisely WHY the Bankers did not want to ever have a ROYAL COMMISSION into Banks because they know I will personally open up the vaults on every computerised SERVICE CALCULATOR - the fraudulent income producer on every file and, the Bankers will be forced to show us their dodgy version times 2 million mortgage files.
Essentially the Hewitt's bravery in going public has now alerted the world as to what our banks were doing down under in fudging incomes with a clever computer program engineered by the Masters of the Universe - $10 million CEO's.
This BANKERS SCANDAL is how Australian Bankers pulled off the greatest heist the world has seen and has been able to pump up the property markets and create the scariest of BUBBLES this country has ever experienced. Wait until the bond market wakes up to the ramifications for large investors, like Superannuation Fund Managers.
2017 is going to be a very interesting year indeed as this computerised dinosaur starts to unravel for Australian Banks. May I remind the long suffering public of my giving evidence to Parliament: "all loans are toxic, unaffordable, unsustainable, unverified and must be extinguished and people compensated." and "The Australian Government cannot, ought not to PROFIT FROM A FRAUD" Hansard 8th August, 2012 2PM. BFCSA Banking & Finance Consumers Support Association Denise Brailey #bankRC