THE BANK ROBO COMPUTER is the CULPRIT and engineered by the CEO'S. Its a clever LAF FUDGING, income manipulation system designed to APPROVE every loan whether affordable or not. as long as you have a HOUSE and a PULSE.
FOS IS MERELY THE BANK's UNDERTAKER to bury the Bodies.
ASIC sends everyone to FOS. FOS toss out 60% of loans due to those cases being more loss than $500,000. Charming!
I totally agree with 73,000 others that every BFCSA member has used the Financial Ombudsman's Service and have found them to be liars and totally bank controlled in hiding the BANK FRAUD that prevails. FOS IS IN FACT THE BANKERS' UNDERTAKER!!! Peter Andrews is a naturally worried bank officer working in amongst crooked BANKERs. Bank Managers and Officers and Brokers (the sellers) have NO IDEA what the FRAUD is, Its very clever. I feel sorry for Peter. He has no idea what his beloved Bank employers at CEO level are doing to ordinary citizens. Peter, EVERYONE MUST GO AND COMPLAIN TO THE BANK FIRST. Sadly, you obviously have no idea what the CONTROL FRAUD BY BANKERS really is and thats sad.
Victims do go to the bank first - a strict RULE is in the FOS TOR. I suggest you read the fineprint . Our 2000 members know If you try and complain to FOS first, FOS will send you back to the Bank for 45 days. We have been dancing in this circle for 15 years!!! This piece you mention is FAKE NEWS - propaganda from worried devious criminal BANKS: "25% of people say they fraudulently completed their loan application." THAT IS UTTERLY FALSE and came form crooked SWISS bank UBS asked by ANZ to ring a few of their clients to set up the victims and the RC will prove that to be false. Why would new innocent borrowers admit to strangers over the phone in a survey: "Yes we used fraud on our LAFs?" and risk being arrested and charged? Bulldust! Same with the FAKE broker survey by Tepper. The people running the surveys are the BANKS.
For your information and to help you with tried and tested intelligence by experts get this: We know collectively that NOT ONE BORROWER IN AUSTRALIA WAS PERMITTED TO WRITE OUT OR FILL IN THEIR OWN LOAN APPLICATION!!!! NOT ONE! How did that happen and WHY? We know the answers and have first class experience in these cases. Peter Andrews it shows you have a lot to learn about your Bank bosses. WHY IS IT that all bank managers, staff officers (55%) and broker agents (45%) have all been instructed in Australia and New Zealand to fill out three pages of the LAF and get that signed up? "DO NOT SHOW THE BORROWER the evil calculator"(that's written ORDERs for sellers) PLUS "make sure borrower victims DO NOT SEE the extra 8 pages added to the LAF to form a complete document AND ATTACH THE CALCULATOR (2 pages) TO THE LAF or we will not process your deal".
BFCSA supplied ASIC with hundreds of emails between banks to the seller channel in with orders what to do. ASIC corruptly told Parliament they "could find no evidence to suggest etc...." Bank bosses are so terrified, they will NOT hand over copies of the SCF and why???? We know why. ITS AN INTENTION to DECEIVE BY 17 LENDERS to STEAL HOMES FROM 2 MILLION AUSTRALIANS. To BOAST the Banks have sold $1.6 Trillion worth of these TOXIC MORTGAGES. We are pop. 24 million people!! Go Figure. As Alan Jones said re the Banks: "Someone is cheating" YES INDEED Alan. We have the collective evidence.
Trying to blame the hapless brokers will not work. We have had numerous inquires to demonstrate the brokers did not APPROVE the loans. THE BANK ROBO COMPUTER IS THE CRIMINAL.
FOS was created and funded by banks $5000 per person/case) to BURY the victims' cases. The more publicity to DEMONISE the brokers or borrowers that are written, the greater the strength victims will have to be angry and FIGHT BACK against the BANKERS. At this current time the BANKING SCANDALS are a daily news item.
These dirty time bomb loans are set to implode when five years old to specifically FIT the JUNK RMBS BOND MARKET. But everyone is learning. Bank Officers need to become WHISTLE BLOWERS. Australian Banking has become a CRIME SCENE we have the evidence. You have all seen the revelations of shocking abuse of children by priests and Church Hierarchy all the way to Rome and the disgusting methods of denial and cover-ups. Our hearts go out to the victims. No amount of Senate Inquiries had power to delve into these matters for nearly 50 years and the abuse and cover ups rolled on. Yet one Royal Commissioner has had the power to lift the lid on what was really going on behind closed doors and expose the men at the top.
YES no matter what cover up the PM dreams up to protect his beloved bank mates, WE WILL HAVE A ROYAL COMMISSION INTO THE BANKING SECTOR. These Bank Scandals need to be aired in public.
Denise Brailey President BFCSA Banking & Finance Consumers Support Association. denise@bfcsa.com.au