Presentation: Resolution Process for Mortgage Arrears Presentation to JOC Finance, Public Expenditure & Reform on Resolution Process for Mortgage Arrears

FLAC Presentation to JOC Finance, Public Expenditure & Reform on

the Resolution Process for Mortgage Arrears

by Noeline Blackwell, FLAC Director General & Paul Joyce, Senior Policy Analyst

on 2 April 2014

Contents:

1. Current statistics on mortgage debt.

a. Central Bank
b. Department of Finance
c. Repossession

2. The revision of the CCMA in 2013.

3. Reduced protections for borrowers under the CCMA/MARP.

a. Relaxed requirements in relation to unsolicited contacts with borrowers
b. The imbalance of power in the decision-making process
c. Appeals/complaints and the moratorium on legal proceedings
d. Legal proceedings and borrowers not co-operating
e. The limited role of the Financial Services Ombudsman under external MARP appeals

4. Statistical information and research into the functioning of the MARP.

5. Report of the Expert Group on Repossessions.

6. Status of Central Bank Codes in legal proceedings.

7. Mortgage Arrears and the Personal Insolvency Act 2012.

8. Services to assist borrowers in financial difficulty.

9. Repossession in the courts.