Bernard Durkan (Kildare North, Fine Gael)
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64. To ask the Minister for Finance the extent to which home mortgages will continue to be governed by the Central Bank of Ireland and his Department's regulations in the event of the sale of loan book by lenders to unregulated third parties; and if he will make a statement on the matter. [8809/14]

Michael Noonan (Limerick City, Fine Gael)
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I understand that a number of the unregulated purchasers of mortgage loan books are abiding by the Central Bank's Code of Conduct on Mortgage Arrears on a voluntary basis. The application of the protections provided to mortgage holders under the Central Bank's Code to loan books which have been sold by regulated financial institutions to unregulated financial institutions is legally complex as it could affect contracts already entered into. It needs careful consideration. For that reason, my officials are currently examining the issue with their colleagues in the Central Bank and in the Attorney General's office.