Mary Mitchell O'Connor (Dún Laoghaire, Fine Gael)
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To ask the Minister for Finance if his attention has been drawn to the harsh treatment of those struggling with mortgage repayments by banks especially as compared to those who are severely in arrears; and if he will make a statement on the matter. [43159/12]

Michael Noonan (Limerick City, Fine Gael)
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As the Deputy will be aware, that the Government is very conscious of the difficulties some homeowners are facing in meeting their mortgage commitments. The Central Bank, both from a consumer protection and prudential regulation perspective, has a very significant role to play in addressing the problem of mortgage arrears. With regard to consumers in arrears or in danger of going into financial difficulty and/or concerned about going into mortgage arrears, the revised Code of Conduct on Mortgage Arrears (CCMA) offers increased protections to these consumers. This revised code builds on the provisions of the previous version, but includes more detailed requirements, not least the establishment of a formal Mortgage Arrears Resolution Process (MARP) and also that pre-arrears cases must be treated in accordance with the MARP.

The Central Bank has also published a guide for consumers on mortgage arrears 'Mortgage Arrears – A Consumer Guide to Dealing with your Lender' and this is available on the Central Bank website.

In addition, the Report of the Inter-Departmental Working Group on Mortgage Arrears (the 'Keane Report') was published late last year and the Government is now actively implementing the main recommendations contained in that report.

In that context, a number of significant milestones have now been achieved:-

The Personal Insolvency Bill was approved by Government and published last June and the Committee stage of the Bill was passed by the Dáil last month; The Minister for Housing and Planning has formally launched the "mortgage to rent" scheme on a nationwide basis; Lenders have now provided details to the Central Bank on their proposed for bearance and loan modification options and some forbearance measures have been introduced on a pilot basis with a further roll out later in the year; Also an extensive independent mortgage advice framework has now been put in place by the Minister of Social Protection comprising (i) an enhanced website www.keepingyourhome.ie (ii) a Mortgage Arrears information helpline, and (iii) the provision of free independent 'one-to-one' professional financial advice to borrowers when considering a long term forbearance/resolution offer from their lender. The list of accountants providing this service is located on the www.keepingyourhome.ie website.

It should be noted that the vast majority of home owners continue to meet their mortgage obligations. However the Government remains very committed to progress measures to assist genuine mortgage holders in difficulty or who may go into difficulty with their mortgage commitments. The Government committee on mortgage arrears, which is chaired by An Taoiseach, continues to meet and it is the intention of Government to ensure that those mortgage holders in genuine difficulty will receive appropriate assistance and a high priority has been assigned by Government to the implementation of this broad range of measures to assist those experiencing difficulty on their mortgage across the relevant Departments and agencies.