notes the outcome of the Financial Regulator's examination of procedures for handling mortgage arrears and repossessions across credit institutions and other mortgage lenders, including the findings that lenders generally have procedures in place which clearly state that the repossession of a residential property is a last resort, borne out by the limited numbers of repossessions secured through court orders, and the issuing, by the Regulator, of best practice guidance prepared on foot of its examination; and

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