Tuesday, 29 September 2020

Ceisteanna (306)

Bernard Durkan

Ceist:

306. Deputy Bernard J. Durkan asked the Minister for Finance the extent of the information available in respect of mortgages in arrears purchased by investment funds, with particular reference to the price at which such loans or arrears were purchased by the funds; and if he will make a statement on the matter. [27253/20]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

In their statistical release on Residential Mortgage Arrears Statistics, the Central Bank publishes a range of data on the number of mortgages and mortgage arrears.  This publication details quarterly developments in the number and value of mortgages in arrears covering all residential properties in Ireland. The collected data covers bank and non-bank entities. All entities holding mortgage loans in Ireland are required to be authorised by the Central Bank of Ireland and fall into three authorisation groups: Banks, Retail Credit Firms and Credit Servicing Firms. Further detail on authorised institutions can be found here. A detailed overview of mortgages held by banks and non-banks is available as part of the published mortgage arrears statistics here. Investment Funds that have purchased mortgages directly will be included in the Credit Servicing Firms group. The Central Bank advised that, in some cases, investment funds may purchase residential mortgage backed securities but such data is not captured in the Bank's statistics.

The price paid for mortgages which have been purchased by investment funds is confidential information to the firms involved in the particular transaction and is not available in mortgage data as published by the Central Bank.