Results 861-880 of 23,109 for speaker:Paddy Burke
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Paddy Burke: In most cases it is Pepper that will initiate the review.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Paddy Burke: Does Pepper decide on the interest rate also?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Paddy Burke: Are there any loans in the portfolio without warehoused debt?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Paddy Burke: In the case that Mr. Ryan has outlined will he explain what happens after the ten years and when everything else is paid off except for the warehoused debt? What happens at that stage?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Paddy Burke: It could be in five years' time for some people.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Paddy Burke: What happens when a loan comes to the end, when everything has been paid off except the warehoused debt? Will Pepper look for the final lump sum to be paid off or look to restructure that loan for another ten or 20 years?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Paddy Burke: Is interest building up on the warehoused debt?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Paddy Burke: It is completely parked.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Paddy Burke: If their circumstances have changed, in the reviews Pepper can force them to reduce the warehoused debt earlier.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Paddy Burke: Is that voluntary or can Pepper insist that the customer would reduce the warehoused debt earlier?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Paddy Burke: What actions will Pepper take to make the customer pay more?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Paddy Burke: That is where there is a lot of fear for people. In the review, be it every 12 months or every two years, Pepper will go through the person's circumstances and Pepper could say to the customer: "You have more of an ability to pay and can afford to pay more so we will put the pressure on you to pay more." What is Pepper going to do? It will probably use strong-arm tactics to make them-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Paddy Burke: Where can customers go if they do not agree with Pepper's assessment? Do they have recourse to somebody who can adjudicate on whether the circumstances have changed enough?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Paddy Burke: Pepper operates other loans on behalf of other banks. Is this the way in which it will operate this? Will it be different from the way in which it runs other operations?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Paddy Burke: What happens if somebody's employment circumstances change and he or she has to move from one part of the country to another or to another country? Clearly such a person might not be able to pay. Does Pepper sell off the property?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Paddy Burke: Does that include waiving or getting rid of all of the parked or warehoused debt?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Paddy Burke: The interest rate set when loans are handed over from Permanent TSB to Pepper is the interest rate the customers will be paying, provided interest rates do not increase or decrease.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Paddy Burke: Is that the case even if the bondholders say they need more money? What happens in that case?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Paddy Burke: I have a question for Mr. Masding. Why is this more attractive to Permanent TSB than a straight sale to a vulture fund?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)
Paddy Burke: Yes, I mean a straight sale to some of the vulture funds.