Mortgage Arrears Report Implementation

Wednesday, 6 March 2013

Questions (70)

Ciaran Lynch

Question:

70. Deputy Ciarán Lynch asked the Minister for Finance if he will request the Governor of the Central Bank of Ireland to publish in full its recent piece of research on the experience of 209 borrowers facing or in mortgage arrears who engaged in the mortgage arrears resolution process of the bank’s code of conduct on mortgage arrears including the methodology employed and detailed findings; if he will request the bank to publish full details of its recent themed inspection on the compliance of non-bank mortgage lenders with the CCMA in relation to contact with borrowers and the appeals process; and if he will make a statement on the matter. [11789/13]

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Written answers

Minister for Finance

I have been informed by the Central Bank that, under Section 33AK of the Central Bank Act 1942, the Bank is restricted in its ability to provide information in relation to the performance of the functions of the Bank or the exercise of its powers. Therefore the Central Bank is unable to provide the information requested by the Deputy. The high level findings from both the research and Code of Conduct on Mortgage Arrears inspection were released on 21 February and can be accessed at: http://www.centralbank.ie/press-area/press-releases/Pages/Research%20highlights%20positive%20experience%20of%20borrowers%20engaged%20in%20MARP.aspx . The findings will inform the upcoming review of the Code of Conduct on Mortgage Arrears. A consultation document in relation to that review will be published shortly on the Central Bank’s website.