Stephen Donnelly (Wicklow, Independent)
Link to this: Individually | In context | Oireachtas source

283. To ask the Minister for Finance the frequency with which the National Asset Management Agency issues running accounts or statements of account to its borrowers; the way that frequency compares with traditional lenders such as the banks whose loans NAMA has acquired; the practices NAMA adopts in this area; his views on NAMA’s practices; and if he will make a statement on the matter. [34264/14]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I am advised that NAMA outsources its loan administration activity to participating institutions or third party service providers (collectively termed primary servicers) and that it requires those parties to comply fully with best practice when implementing NAMA's primary servicing or loan account management activity, including the issuance of statements to borrowers.  NAMA actively manages the provision of services on its behalf by the participation institutions and third party providers.  NAMA's primary servicers are obliged to issue statements to borrowers in accordance with standard banking practice and also in line with the practice that applied in each participation institution prior to the NAMA's acquisition of the loans.