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Recent Developments in Mortgage Arrears Repossessions in Ireland

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Recent Developments in Mortgage Arrears Repossessions in Ireland

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    1. Recent Developments in Mortgage Arrears & Repossessions in Ireland Tom O’ Connor Irish Banking Federation ENHR-EMF Seminar on Housing Finance, October 1st 2009

    2. Recent Developments in Mortgage Arrears & Repossessions in Ireland Context Developments Policy Reactions Outlook

    3. Context

    4. Developments

    5. Developments

    6. Policy Reactions 30 Sept 2008: Government announces blanket Guarantee Confirmation of Covered Institutions of compliance with IBF Mortgage Arrears Code 11 Feb 2009 Recapitalisation Scheme announced 12-month moratorium

    7. Policy Reactions February 2009: Financial Regulator makes Mortgage Arrears Code mandatory 6-month moratorium Obligation to assess each case on its merits and must not repossess until every reasonable effort has been made to agree a repayment plan Keep channels of communication open Summer 2009: mortgage industry high-level discussions on alternatives to repossessions National Asset Management Agency

    8. Outlook

    9. Outlook

    10. Recent Developments in Mortgage Arrears & Repossessions in Ireland Tom O’ Connor Irish Banking Federation ENHR-EMF Seminar on Housing Finance, October 1st 2009

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