Dodgy home loan complaints aggregated
The Banking & Finance Consumers Support Association yesterday published copies of loan applications and correspondence between banks and brokers relating to 250 loan applications that the association claims are questionable.According to the association, more than one third of applications in its "sample" - drawn from complaints lodged by aggrieved borrowers - falsely state the borrower is self-employed.The association's analysis found that common themes included banks' business development managers "telling mortgage brokers what to do", advocating "ABNs for a day" and guidance from banks to brokers on how to massage applications to emphasise some data and downplay others.The Banking & Finance Consumers Support Association has aired some of the material before; at last year's Senate inquiry into banking, for instance.