FBAA Broker Australia
Complaint 146369 Details

FBAA Australian Professional Broker FRAUD THAT SCAMMED US AND TOOK MY HOUSE.
Australia Be Warned, relying on a mortgage broker displaying the FBAA Australian membership or Logo still can be scammed and lose your home. I Allege that over a second mortgage loan:
• FBAA Australian Registered Professional Broker provided a Fraudulent loan that did not exist
• FBAA Australian Registered Professional Broker gave a false loan approval
• FBAA Australian Registered Professional Broker took upfront fees and did not perform on all HIS undertakings and inducements
• FBAA Australian Registered Professional Broker sent a false date of settlement to my first mortgage holder which prejudiced us and caused pecuniary harm, loss of home due nonperformance.
• FBAA Australian Registered Professional Broker at all times had a conflict of interest not disclosed
• Was not dealing with any banks, only private lenders as stated on his website
The FBAA Broker had current membership standing and was under the FBAA code of conduct. But that means nothing. Brokers policing Brokers.
Clause 4.1 of the FBAA Code requires members of the FBAA to:
The FBAA Professional broker did not provide or discharge their responsibilities and duties competently and with integrity and honesty; as required by the FBAA code of conduct.
The FBAA Professional Broker did not provide or act in the best interest of their client, but in a manner consistent with the finance broker's appointment document and the Code; and
The FBAA Professional Broker did not provide or exercise reasonable care and skill
Broker Duties under the FBAA Code of Conduct
The Broker is also a member of the Finance Brokers’ Association of Australia (“FBAA”) and is contractually bound by the express terms of the FBAA’s Code of Practice (“FBAA Code”). For the purposes of the FBAA Code, a finance broker is defined as being a person, corporation or partnership that, as an agent, in the course of business negotiates or arranges loans of money or other credit facilities on behalf of clients and is paid for that service either by the client or a credit provider or both.
One of the key objectives of the FBAA Code is to describe standards of “good conduct and service to be expected of finance brokers”. The objectives of the Code are intended to be achieved, and the provisions of the Code are to be applied, having regard to, among other things, the requirement of finance brokers to meet the standards established at common law and applicable Australian state, territory or federal statutory requirements
ALSO “A situation where a person's fiduciary duty or contractual obligation towards someone else, are or may be affected by their own interests”.
The FBAA Professional Broker (Professionally ADVISED) TOLD US to Sign all documents in the pack and provided us Falsely an “wholly or predominantly for personal, domestic or household purposes”. The FBAA Broker did not provide nor tell us the impact of this under the credit code. If fact he relied on this TRICK.
The FBAA Professional Broker Provided “Knowingly” an incorrect and wrong: “Business Loan” when it was for personal use. (How he came to the house why it was for personal use not business.)
The s11of the Code 2008.
“The declaration will, however, be ineffective if the lender “knew or had reason to believe” at the time that the declaration was made that the credit was in fact to be applied wholly or predominantly for personal, domestic or household purposes (s11 of the Code)”.

For people using a FBAA Australian Broker please read.
Definition of fraud is: to constitute fraud, a misrepresentation must be false [or an omission must make other statements misleading], and it must be 'material' in the sense that it relates to a matter of some importance or significance rather than a minor or trivial detail.
To constitute fraud the misrepresentation [or omission] must be made knowingly and intentionally, not as a result of mistake or accident; that is, that the person either knew or should have known of the falsity of the misrepresentation [or the false effect of the omission], or that he made the misrepresentation [or omission] in negligent disregard of its truth or falsity.
Finally to constitute fraud, the Plaintiff must prove that the Defendant intended for the Plaintiff to rely upon the misrepresentation [and/or omission]; that the Plaintiff did in fact rely upon the misrepresentation [and/or omission]; and that the Plaintiff suffered injury or damage as a result of the fraud.
Also the word 'material' means that the subject matter of the statement [or concealment] related to a fact or circumstance which would be important to the decision to be made as distinguished from an insignificant, trivial or unimportant detail.
Under Australian Law “To deceive is, to induce a person to believe that a thing is true which is false, and which the person practising the deceit knows or believes to be false. To defraud is to deprive by deceit: it is by deceit to induce a man to act to his injury. More tersely it may be put, that to deceive is to by falsehood to induce a state of mind; to defraud is by deceit to induce a course of action”.
AND
“Under section 12ED(1) ASIC Act, in every contract for the supply of financial services by a person to a consumer in the course of a business, there is an implied warranty that (a) the services will be rendered with due care and skill; and (b) any materials supplied in connection with those services will be reasonably fit for the purpose for which they are supplied".
Furthermore, under section 12ED(2), if a person supplies financial services to a consumer and the consumer, expressly or by implication, makes known to the person any particular purpose for which the services are required or the result that he or she desires the services to achieve, there is an implied warranty that the services and materials supplied will be reasonably fit for that purpose or are of such a nature or quality that they might reasonably be expected to achieve that result.
and
Misleading and deceptive conduct – Section 12DA ASIC Act
and section 12DA(1) ASIC Act 2001.
A person who suffers loss or damage by the conduct of another person in contravention of section 42 Fair Trading Act 1987 may recover the amount of the loss or damage.
Where a person is found to have breached section 12DA ASIC Act, a court may order the person to pay damages, and/or make 'other orders', including an order declaring the contract void, varying the contract, or refusing to enforce any of the provisions.
As noted above, if the loan offered from the Lender is to be regulated by the Consumer Credit Code, I consider that the professional adviser engaged in conduct that was unconscionable within the meaning of section 12CB ASIC Act.
Under section 12CB(1) ASIC Act 2001, a person must not in connection with the supply or possible supply of financial services, engage in conduct that is, in all the circumstances, unconscionable.
“This is not legal advice” please check with THE Australian “ASIC” and lawyers as the FBAA Logo displaying a membership of the broker cannot be relied on nor their code of conduct as their members are not checked as to their actual work.