She wont be wearing those in prison!
She's flown the coop. Police haven't charged her and she flew out of Perth last month.
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She wont be wearing those in prison!
Momentum Wealth.... what has your experience been like with them and which broker did you use?
I appreciate your help.
I used Emma Ross from Momentum Wealth. I think that is who you are talking about. Apart from being a little biased because Momentum Wealth has done very well for me - I would definitely recommend them! Warning up front: they have an upfront research & structuring fee. Taking this into account, I still would use them again.
Research and structuring fees?
Most brokers don't charge fees when they're already being paid by the lenders.
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.
Ms Thompson admits that is exactly what she did.
she said."I would get upfront commission, I would get a trailing commission.
I was probably earning about $5 million a year.
It was great.
It was wonderful.
But it was all a lie,"
But she was not alone.
Ms Thompson said."Hook me up to a lie detector test and hook them up.
I'll lay my evidence on the table.
They will fail a lie detector test miserably.
They are corrupt.
They are protecting each other,"
Along with similar claims before a parliamentary inquiry in Canberra last week, her evidence has the potential to rock the finance industry.
Cont....
I agree with you there TF. She got ratted out, and wanted to testify against the 'corrupt' finance industry so she could reduce her sentence. What a load of rubbish. "Oh it was the entire industry, it wasn't just me" type excuse gets a bit old...
"These people are losing their homes. There is nothing I can do now, except tell it like it is"
Kate Thompson
A WA mortgage broker who got rich by "fudging figures"
"Six or seven of those bank officers actually used to come into my office and write up the applications themselves," Ms Thompson said.
She basically just exploited the naive and the people who trusted her and is now looking for a scapegoat. There is only one person to blame for the whole mess.