Central Bank told to assess mortgage solutions
Finance Minister Michael Noonan has asked the Central Bank to carry out an assessment of the solutions being offered by banks to customers in mortgage distress.
The minister wants to know whether lenders are exhausting all options before resorting to the courts. The request is linked to a Programme for Government commitment to help those in mortgage distress retain their homes.
Mr Noonan wrote to Governor of the Bank Philip Lane stating that he would like the Central Bank to carry out an assessment of the range of sustainable restructure solutions offered to customers.
"There is little publicly available information available on the solutions offered by non-bank entities in particular," the minister wrote in the letter, seen by the Irish Independent.