TO ALL THOSE WHO ARE STRUGGLING TO UNDERSTAND THE FACTS RELATING TO AUSTRALIAN BANK DRIVEN MORTGAGE FRAUD VIA PONZI FINANCING.
I appreciate you are learning something new by reading this site. You mention: "reports so far said that people borrowed supplying false information." Hmm at Uni we are taught to check all sources. These reports are written by the Bankers and the Corrupted officials at ASIC and APRA - the regulators who have been in cover up mode for 19 years. So the TEST IS: are these reports accurate? Did those concerned test the evidence presented by the banks by investigating consumer files? Answ: No! How do I know? ASIC carried out no examination of consumer files?
The files I have been opening for over a decade show conclusively, borrowers did not even fill in those APPS. NO borrower in Australia was permitted to fill in the LAF form. NONE - all states, all banks. Why would Banks cover up that vital fact? Because it was a critical part of the fraud that the victim borrowers were only presented with THREE innocent pages to sign for a mortgage.
THERE ARE IN FACT EIGHT more pages IN THE HIDDEN LAF that BANKS intentionally hid from consumers. Why would Banks do that? So as to fraudulent ADD fudged incomes (via ROBOT AND CALCULATOR) onto the LAF AFTER the borrower signed and without the knowledge or consent of the borrower. These are FACTS presented to the Courts all the way to the High Court and the BANKS LOST those cases. The Judges have spoken. I presume of course you respect our Judiciary and their knowledge of such matters and expertise? So you see, the banks and regs are lying to the gullible public because Mortgage Fraud is a reality and banks now want to use their own clients as scape goats and then demonise them. Why? Its all about Bank Greed!
As in America and other countries BANKS LIED TO EVERYONE, but then blamed the customer. Yes the experts agree its the banks fault for setting up the Ponzi Financing Traps. Entrapment is a crime. Asset Stripping is a crime, Fraud is a criminal offence. Intention to Deceive is FRAUD. CARTEL ACTIVITY is a criminal offence. Had the bankers explained the mortgage properly to the customers in the first place the BANKS KNEW they would never sell these loans in HUGE VOLUMES as the customers would have said this is FRAUD!
No way!!!! Cancel the loan APP on DAY ONE!!!! We know sellers, (agents of the banks) were told via emails "DO NOT not show those 8 pages to the Borrower." We have the internal emails from banks to the broker channel. Next banks tried to blame and stitch up the sellers including bank mangers. None of the sellers approved the loans. The Banks approved the unaffordable loans. MORTGAGE FRAUD is the greatest scam and scandal in banking this nation has ever seen. That's why LABOR agreed to Royal Commission the moment the shadow ministers received the documents....................Consumer Protection laws are in existence.
Keep reading this site and JOIN US today wwww.bfcsa.com.au and hit the membership button. I promise you, you will learn something about the banking system........eventually. Banks have been recently and quietly told to stop selling toxic products and no-one over 50 which was the target market (aged 50 - 90) for the past 15 years.
If the Lenders stop selling this product the banking system will collapse. A sort of catch 22, wouldn't you say? People are waking up to the fact: this Scandal is Sub Prime Bank Fraud on a massive scale.
Denise L Brailey #bankRC denise@bfcsa.com.au