Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Perhaps I can put a question to FLAC, as devil's advocate. We understand that more than 10,000 mortgages have been sold to unregulated entities. Is there a pattern of trouble? Has a pattern of alleged non-compliance with the codes emerged? The new owners, generally private equity firms, have signed up to voluntary compliance. Is that happening? I appreciate it is difficult to gauge because the mortgage holders do not have anywhere to go. There is no policeman to ensure compliance. Has FLAC any evidence that the equity firms have abused the privilege of not being regulated?