Sean Barrett (Independent) | Oireachtas source

"Professor [Niamh] Brennan queried the level of sanctions outside limits, especially with regard to those which breached the loan to value and the debt to service ratio limits.", and she raised those concerns in June 2004. And when we look at later documents ... for ... on this occasion ... to UBI - B2, page 21 ... that three years later the problem that Professor Brennan raised didn't seem to have been addressed. That the loans to value outside policy had gone from 6.5% to 13.6%. And there is also an increase ... it is not a complete series in the DSR outside policy. There are also concerns by the regulator that the Dublin Mortgage Centre was not a very well run operation, to put it mildly. So there's a number of things there, but why did it take so long to respond to Professor Brennan's concerns?