The following motion was moved by Deputy Michael McGrath on Wednesday, 18 September 2013:That Dáil Éireann:notes: -- the continuing rise in mortgage arrears with 142,892 family home mortgage accounts in arrears at the end of June 2013; -- the fact that 57,163 family home mortgage accounts are in arrears for greater than one year; -- the evidence presented by the banks during the recent hearings of the Joint Committee on Finance, Public Expenditure and Reform that they relied heavily on issuing threatening legal letters to borrowers in order to meet their obligations under the Mortgage Arrears Resolution Targets Programme for the quarter ending 30th June, 2013; -- that the Central Bank has yet to provide an independent verification of the performance of the banks under the targets programme; and -- the banks continue to rely on short-term forbearance measures as evidenced by the fact that only 309 split mortgages and 254 permanent interest rate reductions have been implemented up to 30th June, 2013; recognises that: -- the mortgage arrears crisis represents the greatest social challenge facing the State; -- economic recovery will not take place until substantial progress is made in tackling the mortgage arrears crisis; -- every political party and Independent member of Dáil Éireann has an obligation to identify solutions to the crisis; and -- a threat of repossession should not be regarded as a 'sustainable solution' under the Mortgage Arrears Resolution Targets Programme; and calls for: -- the Central Bank to report on the performance of the banks to date on reaching the resolution targets laid down; -- publication of the targets to be imposed on the banks in respect of the conclusion of arrangements with customers in arrears; -- a clear definition of a 'sustainable solution' under the Mortgage Arrears Resolution Targets Programme; -- legislation, if necessary, to establish the right of a borrower who meets the definition of a sustainable mortgage to a long-term sustainable solution, including for example a split mortgage of at least ten years' duration or a debt for future equity swap; -- consistent rules to be applied by the banks in the treatment, in respect of interest, of the parked element of a split mortgage; -- the Central Bank to carry out an independent investigation, including an assessment of a sample of individual cases, into claims by the banks that a significant portion of those in arrears are "strategic defaulters"; -- the establishment of an independent Mortgage Arrears Resolution Office to oversee the implementation of sustainable mortgage solutions; -- action by the State-supported banks to ensure that rent in respect of buy-to-let properties is not diverted from payment of the mortgage on the property; and -- a review of the costs associated with accessing the Insolvency Service of Ireland to ensure that they are fair and reasonable and that the service can be accessed by all those who would benefit from it."

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