Michael McGrath (Cork South Central, Fianna Fail)
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74. To ask the Minister for Finance if he expects the National Asset Management Agency to voluntarily agree with the code of conduct on mortgage arrears in the event that they take on the residential mortgage loan book of Irish Bank Resolution Corporation; and if he will make a statement on the matter. [52421/13]

Michael Noonan (Limerick City, Fine Gael)
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In the event that NAMA ultimately acquires this portfolio, the NAMA Board will determine its strategy at that stage and, in doing so, will be mindful of its legal obligations and of general market norms. I am advised that NAMA is likely to apply best practice in this regard and will seek to ensure that a borrower’s legal position does not deteriorate by virtue of NAMA acquisition of the loan or loans concerned.