Results 541-560 of 1,760 for speaker:Aideen Hayden
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Insurance Schemes: Discussion (27 Nov 2014)
Aideen Hayden: I invite Mr. Paul Joyce to make some points.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Insurance Schemes: Discussion (27 Nov 2014)
Aideen Hayden: I now invite Dr. Ronan Lyons, economist, Trinity College Dublin, to make his presentation.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Insurance Schemes: Discussion (27 Nov 2014)
Aideen Hayden: I thank Mr. Joyce. The next speaker is Mr. Karl Deeter, from Irish Mortgage Brokers.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Insurance Schemes: Discussion (27 Nov 2014)
Aideen Hayden: This is the second session of the consideration of mortgage insurance in an Irish context. We have invited a number of witnesses to discuss issues regarding mortgage insurance. The format of the meeting will be a round table discussion. I welcome the witnesses, who will make their opening statements in the following order: Mr. Brendan Burgess, from askaboutmoney.com; Mr. Paul Joyce, from...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Insurance Schemes: Discussion (27 Nov 2014)
Aideen Hayden: I thank Mr. Burgess. The next speaker will be Mr. Paul Joyce from FLAC.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Insurance Schemes: Discussion (27 Nov 2014)
Aideen Hayden: Are the witnesses willing to work with all Irish mortgage lenders?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Insurance Schemes: Discussion (27 Nov 2014)
Aideen Hayden: Is Mr. Crone saying that his company would negotiate with each lender on a case-by-case basis?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Insurance Schemes: Discussion (27 Nov 2014)
Aideen Hayden: That does not necessarily mean that his company will work with all of them.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Insurance Schemes: Discussion (27 Nov 2014)
Aideen Hayden: I have another question on this issue, if I may. Our local authorities also lend money. Would the witnesses be prepared to work with them in providing mortgage insurance products?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Insurance Schemes: Discussion (27 Nov 2014)
Aideen Hayden: Insurance companies are not not-for-profit organisations. The company is clearly profit-based. Why would it not be more logical for the State to provide this service rather than put it out to the market?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Insurance Schemes: Discussion (27 Nov 2014)
Aideen Hayden: Mortgage insurance guarantees - also known as mortgage insurance schemes - are not something that just arrived after 2000; they were quite common in the housing market in the 1980s. I worked as a solicitor in conveyancing and I came across these schemes back in the day. The witnesses have indicated that the downturn in the late 1980s generated massive claims, repossessions and so forth, and...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Insurance Schemes: Discussion (27 Nov 2014)
Aideen Hayden: Is that in place?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Insurance Schemes: Discussion (27 Nov 2014)
Aideen Hayden: Yes, but it is not in place.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Insurance Schemes: Discussion (27 Nov 2014)
Aideen Hayden: Will the witnesses confirm there is not a single regulatory framework for this, as it stands?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Insurance Schemes: Discussion (27 Nov 2014)
Aideen Hayden: Not this particular area.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Insurance Schemes: Discussion (27 Nov 2014)
Aideen Hayden: There was an earlier question relating to the crystallisation of loss. The witnesses mentioned that insurance policies could encourage lenders to move to a loss crystallisation as soon as possible to lower arrears, interest and, ultimately, the claim. They explained to my colleague that they would work through the various different processes and so forth. There are three individual...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Insurance Schemes: Discussion (27 Nov 2014)
Aideen Hayden: Is that common among all insurers? Is there a standard policy document indicating that is the way it will happen?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Insurance Schemes: Discussion (27 Nov 2014)
Aideen Hayden: How is that policy document arrived at? Do the companies collaborate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Insurance Schemes: Discussion (27 Nov 2014)
Aideen Hayden: It is a standardised policy for all insurers.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Insurance Schemes: Discussion (27 Nov 2014)
Aideen Hayden: The companies all offer identical products, effectively.