I can inform the Deputy that the company referred to in the question has contracts in place to provide services to AIB and IBRC. AIB has informed me that due to the substantial increase in the number of customers in financial difficulty, AIB works with the company referred to in the question who predominantly provide customer case management and assessment services to AIB’s Mortgage Arrears Support Unit. This company operates within AIB’s Mortgage Arrears Resolution Strategy framework and Standards for customer engagement. For commercial reasons AIB does not disclose fee details in relation to external service providers.
I have been advised that IBRC has not outsourced the management of any portion of its residential mortgage book to the company referred to in the question. IBRC is fully committed, as part of its mortgage arrears resolution strategy, to taking a proactive approach in managing mortgage arrears. In doing so IBRC identified a specific skills and experience gap in its Mortgage Arrears Support Unit and was determined to fill this gap as a priority. Despite seeking appropriately skilled individuals in the open market, IBRC was unable to secure the necessary skill set required and therefore looked instead to adopt an alternative in-source solution whereby a third party service provider would be contracted under IBRC’s normal procurement process to supply IBRC with the appropriate skilled resources required.
I have been informed that IBRC’s procurement process was followed. A request for quotation was published on OJEU (the official journal of the EU) and tenders were invited, a shortlist of interested firms compiled and following commercial discussions and contract negotiations the contract was awarded to the company referred to in the question.
This contract award has resulted in ten employees from this company being contracted to the Bank and deployed to IBRC’s residential mortgage division. These employees operate from IBRC premises, using IBRC systems and processes and work alongside IBRC employees. Additional details relating to the engagement between IBRC and this individual third party advisor are confidential and subject to non-disclosure agreements. As a result, the Bank will not disclose any information with regards to fees or other commercially sensitive matters in relation to this contract.
I am informed by PTSB that it has no contract now, nor has it had in the past with the company referred to in the question. PTSB advises that it has a tendering process underway in relation to third party administration of a portfolio of commercial mortgage loans. The company whose details are supplied is among the parties that PTSB has spoken to in this regard. PTSB has not completed the tendering process, nor has it signed a contract with any party in this regard.
I am advised by NAMA that it does not have, and has not had, any contractual engagements with the firm referred to in your question.
