Bernard Durkan (Kildare North, Fine Gael)
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37. To ask the Minister for Finance the extent to which unregulated purchasers of mortgage loan books or other debt are subject to the criteria laid down by the Central Bank of Ireland and his Department, with particular reference to the need to ensure the original terms under which loans or mortgages were advanced, the economic circumstances in the interim are taken into account and any potential benefit to the borrower arising is provided for; and if he will make a statement on the matter. [8292/14]

Michael Noonan (Limerick City, Fine Gael)
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I understand that a number of  entities, which are not regulated by the Central Bank and which have purchased mortgage loan books from regulated entities, are abiding, by the Central Bank's Code of Conduct on Mortgage Arrears on a voluntary basis. The regulation by the Central Bank of such purchasers 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.