Results 12,941-12,960 of 35,658 for speaker:Pearse Doherty

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Pearse Doherty: Did the bank find out that any of the cases applied to anybody else?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Pearse Doherty: I appreciate that. I thank the Ulster Bank for the volume of information it has given us in the questionnaire. It is very helpful. There is a question on rent receivers applied by the bank. It is a very small number. What is the number of fixed asset receivers the bank has applied? It was not a question-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Pearse Doherty: How many?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Pearse Doherty: I want to go onto the issue of the bank's sale to the vultures and the announcement of another sale. Is it likely to happen before the end of this year?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Pearse Doherty: There is no doubt, and it is not just me that is saying this as other committee members have also said it, that what the bank is doing is outsourcing its dirty work to a vulture fund that cares not for the bank's customers or the circumstances of their families. We said this at the time when the sales went through and, unfortunately, we have been proven correct. Has the bank carried out any...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Pearse Doherty: The bank sold 1,742 homes and 2,195 buy-to-let properties to Cerberus. I am not sure whether the bank has disclosed the discount at which it sold.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Pearse Doherty: It is a significant discount. We have information that Cerberus and Cabot, which is the servicing agent employed by Cerberus, are taking a very strong approach to the bank's previous buy-to-let customers. They are appointing fixed asset receivers and giving former customers 30 days to clear all of their arrears or they will appoint fixed asset receivers. The bank has employed two fixed...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Pearse Doherty: Do they pay nothing at all?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Pearse Doherty: They are, therefore, engaging. They are engaging every bloody month when they are handing over their money. There is a reason I say this. Ms Howard is dodging the question. I know some of these cases where the loans have been sold to a vulture fund and the people are about to have their property taken from them and their tenants evicted from their houses. They are engaging. They are...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Pearse Doherty: I know some of these people; I have seen their accounts. Ms Howard is giving the impression, in a very articulate way, that these people are somehow scammers and that they are not engaging with or contacting the bank.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Pearse Doherty: Let me put this point. Is it not the case that Ulster Bank sold to these vultures accounts of people who were both paying and engaging with the bank but who could not meet their full repayments, and they are now in the grips of the vultures, which are telling them to pay up within 30 days or they are taking the house and will sell the property with vacant possession, leaving their tenants...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Pearse Doherty: Has Ulster Bank sold mortgages of accounts where people were making partial payments and had engaged with bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Pearse Doherty: Where they were engaging with the bank.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Pearse Doherty: That is fine. I wanted to make that clear. I would not like it to be painted that the people whose mortgages are being sold are people who are unwilling to make contact with the bank. Second, what does Ms Howard have to say about the fact Ulster Bank has sold these mortgages to a vulture, which has adopted this practice of demanding payment within 30 days of all the arrears or else it is...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Pearse Doherty: With regard to buy-to-let property, is there anything to stop the vulture from asking for arrears to be cleared within 30 days or appointing a rent receiver? Ms Howard knows the answer to this question because her bank could do it in the morning. It would not do it because it would be absolutely appalling to do that, but vultures can do it because they do not give a damn. They are here for...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Pearse Doherty: Does Ms Howard care that some of customers in Project Scariff had their details released - this is from the same crowd, Cabot - including names, contact information, job details and outstanding balance? Not only were they told to clear their arrears within 30 days or the property would be taken and their tenants left high and try, there was a data breach, which resulted in their names,...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Pearse Doherty: Has Ulster Bank contacted the agent it sold these to in order to point out these were its customers and to ask what it is doing and why it is orchestrating strategic default, and that it has been involved in a major data breach and released the financial information of customers?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Pearse Doherty: With regard to the 10.3% of NPLs, how many loans would have to be cured or sold in order to reach 5%?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Pearse Doherty: I am asking both about sold and cured loans. What is the total figure?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Pearse Doherty: The problem is that when we look at the position of mortgages in arrears for more than 90 days, that does not give a picture of NPLs because there could be ones which are not in arrears but which could still be NPLs. For example, we know that those that are 90 days-plus are all NPLs. There are 7,280 in arrears of 90 days-plus so one can assume there are at least 3,600, if not more, that...