John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

We will resume in public session. My apologies that I had to leave to attend in the Chamber, but I am thankful Deputy Conway-Walsh took over. I wanted to ask a number of questions. I acknowledge, as did others, the great work carried out by Mr. Honohan in this area and the insights he gives to people in distress of one kind or another with regard to their mortgage or loan. Whether Mr. Honohan likes it or not, he is a hero to them in this regard and someone who throws great light on the issues of the day.

Having listened to Mr. Honohan, I want to go back to the basics. Will Mr. Honohan work through them to give more of an explanation to people like me and other members, who are not up on the law as much as he is but who must apply this very same law, be it European or Irish law, as to their position and circumstances as they appear in court? The bank gives the mortgage or loan and holds the mortgage papers cleared by the legal representatives of both bodies. Everything goes along smoothly with the customer, issues arise and then it is sold to a fund. When that loan is sold to a fund, and I am talking about the main fund and not a service provider or front of house, the paperwork relative to that, including the mortgage paperwork, goes with the loan. Is this is true or false?