Michael McGrath (Cork South Central, Fianna Fail)
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51. To ask the Minister for Finance the number of mortgage restructures by restructure type for both PDH and BTL mortgages in tabular form; the number under each restructure type restructured by regulated financial institutions, retail credit firms and unregulated loan owners; and if he will make a statement on the matter. [47411/17]

Paschal Donohoe (Dublin Central, Fine Gael)
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I am informed by the Central Bank that their Residential Mortgage Arrears and Repossessions Statistics show that at end-June 2017, 120,398 PDH mortgage accounts were restructured.

The breakdown by entity type is as follows: Banks 111,156 accounts, Retail Credit Firms 6,695 accounts and unregulated loan owners 2,547 accounts. Similarly, 23,623 BTL accounts were restructured at end-June. The breakdown by entity type is as follows: Banks 22,833 accounts, Retail Credit Firms 318 accounts and unregulated loan owners 472 accounts.

In addition to the above published statistics, please see below a further unpublished breakdown of restructures for PDH and BTL accounts. Given the small number of observations in some categories, it is not possible to provide the level of detail requested. However, the Statistics Division within the Central Bank is currently reviewing the breakdowns published, with a view to expanding coverage in the New Year, subject to confidentiality measures.

Principal Dwelling Houses

Buy-to-Let Properties

Michael McGrath (Cork South Central, Fianna Fail)
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52. To ask the Minister for Finance the number of mortgages owned by a company (details supplied); the credit-servicing firms it uses for these mortgages; the number of these mortgages that are currently deemed by the Central Bank as being restructured; and if he will make a statement on the matter. [47412/17]

Michael McGrath (Cork South Central, Fianna Fail)
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53. To ask the Minister for Finance if the Central Bank is satisfied that a company (details supplied) is acting in compliance with the code of conduct on mortgage arrears and the mortgage arrears resolution process; and if he will make a statement on the matter. [47413/17]

Paschal Donohoe (Dublin Central, Fine Gael)
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I propose to take Questions Nos. 52 and 53 together.

The Central Bank has informed me that the Company referred to is not an entity regulated or supervised by the Central Bank of Ireland (the “Central Bank”). 

Data on mortgages owned and currently being restructured by non-bank entities (which includes Retail Credit Firms and unregulated loan owners) is not published routinely by the Central Bank and it is not therefore possible to provide the breakdown requested.  However, I would refer to the Central Bank’s Report on Mortgage Arrears, published on 16 December at https://www.centralbank.ie/docs/default-source/news-and-media/press-releases/mortgage-arrears-report.pdf?sfvrsn=0.  Section 4.2 of this report comments on restructuring activity for non-bank entities.

In addition, as an unregulated loan owner, the company referred to would be required to appoint a regulated Credit Servicing Firm to service loans on its behalf.  The deputy may be aware that Lapithus Management DAC states on its website that it has been appointed by the company referred to, to administer and manage its loans for and on its behalf.  

In relation to PQ 47413/17, the Central Bank has informed me that Credit Servicing Firms are subject to the provisions of Irish financial services law that apply to regulated financial service providers.  This ensures that consumers whose loans are sold to third parties maintain the same regulatory protections they had prior to the sale, including under the various Statutory Codes such as the Consumer Protection Code 2012 (the “CPC”) and the Code of Conduct on Mortgage Arrears 2013 (the “CCMA”).

Therefore, where a consumer has a grievance or dissatisfaction with the provision of a product or service by regulated entity, or the failure or refusal of a regulated entity to provide a product or service, he/she may make a complaint to the regulated entity, in accordance with Provisions 10.7 to 10.12 of the CPC. If the consumer is not happy with the resolution of the complaint he/she is entitled to escalate the complaint to the Financial Services Ombudsman (FSO) who has the statutory powers to investigate complaints against regulated financial services providers. Further information about the FSO is available at .

While, the Central Bank does not have a statutory remit to investigate individual complaints of customers of financial services, it does accept and appreciate information from consumers of financial services in the context of its ongoing supervisory work.  In this regard, the Central Bank would welcome any information or evidence that may help its work.  As you may be aware however, due to confidentiality requirements imposed by domestic and EU legislation, which provides for confidentiality of information relating to ongoing supervision and limits disclosure to circumstances specifically provided for in Section 33AK of the Central Bank Act 1942, it cannot release supervisory information.