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

I welcome the decision to remove the 4,300 homes with split mortgages from Project Glas. Is the bank looking at a securitisation option? From reading his commentary at the time when he made an announcement on 16 May on this, it looks to me that it will likely be a securitisation option. Can this be executed? In that scenario, at what form of securitisation is the bank looking? Is it looking at a scenario where the bank remains in control of those loans? Will the bank remain the legal owner or the beneficial owner? Will it continue to be the contact point? Will the bank be the one making the decisions in respect of these loans?

I welcome the removal of those loans from Project Glas. People still have questions and concerns as to what the final outcome will be for them - particularly if a securitisation option is put into effect.