Ruth Coppinger (Dublin West, Socialist Party) | Oireachtas source

Why is the bank selling loans that are performing perfectly well? It is alarming that this is happening and that no action is being taken to prevent it. On its website, Dilosk says that it has a focus on residential investment property, that is buy to let. Therefore, it is not the case that it is focusing on ordinary residential lending; it is investment lending. The bank's shareholdlers and the bondholders were underwritten by the ordinary people of this country who have paid a heavy toll over the past six years, but it appears that ordinary mortgage holders are to be moved into the unregulated sector in which Dilosk Limited operates. There have been accusations that the Minister's Department gave advance warning to the banks to sell mortgages now, a year ahead of new EU laws to force buyers of loan books to observe much stricter codes. Perhaps the Minister would comment on that.

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