Bernard Durkan (Kildare North, Fine Gael)
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266. To ask the Minister for Finance to set down the number of family home repossessions by lending institutions to date in 2017; the extent to which action can be taken to discourage such repossessions when the borrowers are meeting their commitments to the best of their ability; and if he will make a statement on the matter. [10427/17]

Michael Noonan (Limerick City, Fine Gael)
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The Central Bank publishes mortgage arrears data on a quarterly basis. The next release is due in mid-March 2017 and will cover Quarter 4 of 2016. In the normal course of events it is expected that the Quarter 1 2017 data for 2017 will be published in June 2017.

The most up to date information on repossessions published by the Central Bank is contained in the Residential Mortgage Arrears and Repossessions Statistics: Quarter 3 2016 available at: .

This publication notes that there were 1,678 Principal Dwelling Houses (PDH) properties in the banks' possession at the beginning of the third quarter of 2016. A total of 421 properties were taken into possession by lenders during the quarter, of which 141 were repossessed on foot of a Court Order, while the remaining 280 were voluntary surrendered or abandoned. During the quarter 400 properties were disposed.

My colleague the Tánaiste and Minister for Justice and Equality may be able to provide additional information from data collected by the Courts Service.

Bernard Durkan (Kildare North, Fine Gael)
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267. To ask the Minister for Finance if family home repossessions over the past 12 months have been in accordance with the Central Bank regulations, with particular reference to the impact such repossessions have on the housing crisis and the activities of unregulated third parties that have purchased distressed loan books; and if he will make a statement on the matter. [10428/17]

Bernard Durkan (Kildare North, Fine Gael)
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269. To ask the Minister for Finance if he will introduce regulations to dissuade lending institutions from repossessing family homes when the borrowers are making substantial efforts to meet their commitments to the lenders; his views on introducing a protocol to regulate such events; and if he will make a statement on the matter. [10430/17]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 267 and 269 together.

The Deputy will be aware that Regulated financial services providers are subject to the Central Bank Code of Conduct on Mortgage Arrears (CCMA).

The CCMA provides a strong consumer protection framework to ensure that each borrower who is struggling to keep up mortgage repayments is treated in a timely, transparent and fair manner by lenders.

As part of the Mortgage Arrears Resolution Process (MARP) framework the completion of affordability assessments is a key step. In this regard a lender must examine each case on its individual merits and it must base its assessment on the full circumstances of the borrower, including, inter alia, the borrower's current repayment capacity. In order to determine which options for alternative repayment arrangements are viable in each particular case, a lender must explore all of the options for alternative repayment arrangements that they offer. The Code of Conduct on Mortgage Arrears (CCMA) also requires lenders to review an alternative repayment arrangement at appropriate intervals for the type and duration of the arrangement.

The CCMA is a key part of the Central Bank's mortgage arrears framework. It is a statutory code issued under Section 117 of the Central Bank Act, 1989 and applies to all regulated mortgage lenders operating in the State when dealing with borrowers facing or in mortgage arrears on their primary residence, including any mortgage lending activities outsourced by these lenders. Non-compliance with the CCMA is enforceable against regulated entities by the Central Bank.

The recent Central Bank report on Mortgage Arrears, published on the Department of Finance website on 16th December 2016, found that overall, there is strong evidence that banks and non-banks are looking to exhaust available options before moving into the legal process with regard to mortgage arrears on family homes. I would therefore urge those with mortgage debt to engage with their lender by completing a standard financial statement of their income and expenditure or contact their local Money Advice and Budgeting Service (MABS) office for independent professional and confidential advice.