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

As we speak, the reality is that sitting within Permanent TSB's Project Glas are split mortgages relating to 4,300 family homes. That may be as many as 5,000 actual mortgages. These are people who have done all the right things. They have followed the advice of Government and the Central Bank, they have engaged with their lenders, they have reached restructuring agreements and, more than that, they have actually honoured the terms of those restructuring agreements. However, they now find their loans being classified as non-performing. Their loans are sitting within the same basket as loans in respect of which there has been no engagement by the borrower and loans on which no repayments whatsoever have been made for a prolonged period. There is something fundamentally unfair about that. These people are deeply worried about the prospect of their loans, which relate to their family homes, being sold down the river to so-called vulture funds. I share their concern. We need to stand up for them and advocate for them. Their loans need to be removed from the NPL classification. These are, in essence, loans which are now performing.

See this speech in context