Results 6,041-6,060 of 26,032 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: There were no set targets.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: Moving on to the issue of positive equity, about which I have asked the other financial institutions also, I use the term "the paradox of positive equity" because it would appear from people who are coming to us that someone in positive equity could be at a disadvantage. What percentage of Permanent TSB's book is tracker home loans?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: Two thirds of Permanent TSB's mortgage loan book are tracker mortgages.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: In terms of the figures Permanent TSB provided, of the 11,707 figure and the 5,300 people the subject of legal proceedings, how many of those were in positive equity?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: In numerical terms, it is 50%-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: Of the 4,230 split mortgage solutions Permanent TSB provided, how many were in positive equity?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: Mr. O'Sullivan, I have limited time. I do not buy that. The banks should have one of the best levels of financial expertise. I have no doubt Mr. O'Sullivan can press a button and the figure for the number in positive and negative equity will come up. I will take it that very few positive equity mortgages are included in that figure. In terms of the question I am asking, if Permanent TSB...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: If someone in arrears is in positive equity, does Permanent TSB sell that property? I will put the question another way. Of the 1,112 assisted voluntary sales, what is the total number in terms of assisted voluntary sales, voluntary surrenders and letters advising legal action? In terms of the repossessions, how many were in positive equity?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: How many of those are in positive equity?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: I have two questions about someone on a tracker mortgage who is in positive equity. First, is Permanent TSB losing money on tracker mortgages?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: Significantly or marginally losing on trackers.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: If Permanent TSB has a customer on positive equity and it repossesses and sells the house, does that improve the capital ratio on its balance sheet? "Yes" or "No"? If it is a risky loan in that the mortgage holder is not paying, does it improve Permanent TSB's balance sheet if it realises that loan and sells the asset? Does it improve the capital ratio of the balance sheet of the bank?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: It is a "Yes" or a "No" answer.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: The question requires a strictly "Yes" or "No" answer. I know the answer but I want the representatives to verify the answer.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: If Permanent TSB has a risky loan on its balance sheet - the person is not paying - that should feed into its capital ratio. If that risky loan is taken out, from an accounting viewpoint surely that improves the capital ratio of the bank.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: Perhaps in that individual loan. My question-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: Of the 4,300 split mortgages, how many were in positive equity? I suspect it was very few. Mr. O'Sullivan has not given me the figure for the number of repossessions in positive equity. My concern is that the institutions are becoming bloodhounds in that they are seeking out positive equity on risky loans, particularly in Permanent TSB's case because tracker mortgages are costing it a...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: The code of conduct on mortgage arrears refers to incentives paid to people involved in dealing with mortgage arrears. How many people are in the mortgage arrears unit in Permanent TSB? Are any of them paid incentives or bonuses?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: Will Mr. Masding finish his point on tracker mortgages for homes that are in positive equity?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: I wish to welcome Mr. Duffy and his colleagues. I would like to clarify a couple of points. Are the figures we have here both for AIB and EBS combined? AIB is required to meet targets by the Central Bank under the mortgage arrears resolution process, or MARP. Is the target to the end of December 50% of both home loans and buy-to-lets, or is it an average?