Results 921-940 of 23,109 for speaker:Paddy Burke

Seanad: Judicial Appointments Commission Bill 2017: Committee Stage (Resumed) (16 Oct 2018)

Paddy Burke: Yes. I cannot see how one could conduct any sort of an interview for a job if the same questions are asked of every candidate. Surely the board has discretion. I hope we have not reached the case as outlined by Senator McDowell.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

Paddy Burke: I welcome Mr. Masding and his colleagues. On the definition of an NPL, Mr. Masding says that even if one has a family home and a buy-to-let, the latter of which is in arrears, both are deemed to be in arrears. Is that the definition?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

Paddy Burke: If the performing loan is with Mr. Masding's bank and the non-performing loan is with a different institution, what does the bank do?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

Paddy Burke: Does the Central Bank has a different view on people who have loans in both institutions or one institution?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

Paddy Burke: I see. As such, if a person has a house and the loan is performing fully, he or she is treated very unfairly by the Central Bank where he or she also has a buy-to-let loan with the same institution compared to someone who might have two loans with two separate institutions.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

Paddy Burke: Did the witnesses ask the Central Bank that question?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

Paddy Burke: What is the write-down of the performing loans?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

Paddy Burke: Can Mr. Masding say that the write-down on the performing loan is different to the non-performing part?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

Paddy Burke: Deputy Michael McGrath said there was a write-down of 38%. I presume that is right across the whole portfolio.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

Paddy Burke: However, the witnesses are not at liberty to say whether the non-performing part is bigger.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

Paddy Burke: What about the person involved in the sale? Is he or she notified of the amount of the write-down regarding his or her loan? If a person is involved in the sale, his or her loan is purchased or sold off to a vulture fund. Will the bank tell him or her the amount of the write-down?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

Paddy Burke: The bank gives to the people who are tendering, say, for the loan portfolio the individual amounts, how much is owed in each case and how much is owed on the property. Is that the case?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

Paddy Burke: They will make a bid on a global-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

Paddy Burke: The bank has no knowledge at all of the amount of the write-down individually.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

Paddy Burke: The people who are buying the loans more than likely would, though.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

Paddy Burke: A member of this committee wrote to Permanent TSB about a person who has a performing loan and has never missed a payment. They had another loan, a second loan, and for some reason, which was the bank's fault, it went into arrears, which was rectified after a couple of months. This guy has been notified that his loans are being included in the sale, however, and the bank is saying it can do...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

Paddy Burke: That is fine. I thank Mr. Masding for that. He says there are 7,400 loans relating to family homes, 2,500 of which are non-performing. That means there are up to 5,000 performing loans being sold off at a discount. Is that not the case?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

Paddy Burke: They have been categorised as non-performing because of other loans, though.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

Paddy Burke: There are 1,050 loans that are performing.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

Paddy Burke: I am no different from other members of the committee. I have got several letters from people who have performing loans. Some of them may have a second property or whatever but the family home has been paid in full at all times. They are very disappointed that the latter is included. Mr. Masding says the Central Bank is the cause of that-----