ABC News/Australia
By Stephen Long
Updated Tue Aug 14, 2012
A WA mortgage broker who got rich by "fudging figures" has blown the whistle on the banks that conspired in Australia's own sub-prime mortgage scandal.
In 2007 Kate Thompson was WA mortgage broker of the year. Now she is facing fraud charges.
It is alleged Mortgage Miracles, in Canning Vale in Western Australia, obtained investment loans for customers by using falsely inflated earnings and assets.
To read the rest of this story and see the video, visit ABC.Net.AU.
Comments
,,lol,, this reminds me of
,,lol,, this reminds me of the independent broker i knew in ireland who use to take the man from bank of scotland /ireland for special lunch meetings ;), to secure his clients mortgage from the bank,,even though there earning were well below par for a loan,,,and then theres the self employed man who was told to go to his stationary shop,,buy a book of paylip slips, and fill them out himself and hand them to the broker,,he got his mortgage within the week,, ,oh and the guy who got the mortgage with bank of scotland ireland because his broker bought the man from the bank lunch ;)..he had tried for 3-4 months solid to get a mortgage,,everyone turned him down,,that was until his broker took the bank man for a special lunch ;) ,.i would say at least 25% of all the people i know with mortgages in ireland fall into the catagory of fiddleing there earning'sr after been told by the bank guy or the mortgage guy to do it..