Mortgage Choice KahDo Launch - Brisbane 31 July 2008

[mrfexboy]

SMASHED by superadagent!!!

[superadagent]

ASIC, which does not license mortgage brokers but can review advertising under credit laws, found the ads were misleading and deceptive because the recommendations were limited to a panel of about 27 lenders.

[superadagent]

The Australian Securities and Investments Commission has also told the brokerage, which has an estimated loan book of more than $16 billion, to place newspaper advertisements in every state

[superadagent]

wow Mr fexboy look at this.

Mortgage Choice loans face scrutiny

By Duncan Hughes

May 27, 2004

Mortgage Choice, one of Australia's largest mortgage brokers, has been told it may have to review the sale of up to 50,000 mortgages and face compensation claims for making misleading and deceptive claims to customers.

[superadagent]

Mr Fexboy you are talking about the prepayment panalty. practice of the prepayment penalty. Since it is very likely that a borrower would like to refinance a high interest loan, a prepayment penalty will most often be included in the loan agreement but the borrower may not be explicitly informed since it is the borrower's responsibility to read their agreement.

[superadagent]

Many lenders and brokers have undisclosed practices that constitute a true mortgage rip off for the borrower

[superadagent]

Why do they have the silly do on the side of the road?

[superadagent]

So do they rip people off?

[mrfexboy]

Mortgage choice fees are hidden and are really quite high.