Results 20,161-20,180 of 26,228 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: With due respect, that is over 30%. It seems very high.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: Correct. I will take the buy-to-lets first, which are straightforward enough. There are 2,569, some 800 of which are in receiverships. How many of those will end up being repossessed and how many will be sustainable solutions?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: Where will the balance of 1,769 cases end up?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: By a receivership?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: So virtually all of the 2,569 will be receiverships.
- 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 properties could they involve? Could they be single properties?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: This issue is coming up with us. Of the 800 receiverships, could they typically involve one property?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: Why would AIB go ahead and appoint a receiver in respect of a single property?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: So AIB is taking a very aggressive attitude on the buy-to-lets. Would that be a fair point?
- 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 welcome Mr. Masding and his colleagues. I will make a few general points. Am I correct in saying that the number of legal proceedings increased by approximately 1,700 between Quarter 4, 2003 and the end of Quarter 1, 2014?
- 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 refer to the total areas involving legal proceedings. In the summary of the MART proposals provided to the committee the figure increased from 3,624 to 5,318.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: Am I correct in saying that the figure at the end of Q1 of this year is 11,707, which are long-term solutions being provided, plus the 5,318? Is the total figure 17,025? Approximately one third of all the long-term proposals being provided to homeowners more than 90 days in arrears are coming out of the legal proceedings?
- 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 more or less one third.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: Is it fair comment that Permanent TSB would not make the Central Bank targets without the legal proceedings?
- 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 will put the question another way. If Permanent TSB did not have access to legal proceedings, would it meets its Central Bank 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: Was Permanent TSB given any targets by the Central Bank as to the percentage of the solutions it was providing involving legal proceedings? One in three seems very high.
- 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?