newirishman
Registered User
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Taking you point.
Good article by Brendan on mortgage arrears
- Thread starter Dave Vanian
- Start date
Taking you point.
Not a fan of banks but I'd far rather be in debt to an Irish bank than an American one. In general Irish banks do not want to go down the repossession route, American banks by contrast lured people who couldn't afford it into loans and knew they would lose their homes. The figures on Irish repossesions back this up. I agree with the article, if in trouble your first call should be to the bank manager to discuss your options before things get worse.
Bank Manager
To what degree have Irish banks used mortgage brokers?
To what degree have Irish banks securitized their residential mortgage
book?
In the past getting a loan/mortgage may have involved a more personal relationship with a loan officer. I have long thought that inappropriately low interest rates would eventually cause problems in the Irish property market but changes in lending practices may also be a significant factor.
To what degree have Irish banks used mortgage brokers?
To what degree have Irish banks securitized their residential mortgage
book?
In the past getting a loan/mortgage may have involved a more personal relationship with a loan officer. I have long thought that inappropriately low interest rates would eventually cause problems in the Irish property market but changes in lending practices may also be a significant factor.
Are you sure? When I shopped around for a mortgage in 1995 I just went around all the lenders and got offers no problem after they met me for the first time ever.
LDFerguson
Registered User
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I genuinely hope this was posted in jest.
Or do you really think that Brendan writing a generalised piece in the Indo about what to do if you run into difficulty with your mortgage repayments is going to somehow have an effect on the AIB share price? What - all AIB mortgage defaulters will rush out immediately on reading the article, blocking up the road to Damascus due to their numbers, will start making arrangements with AIB to repay their debt and the effect will be so huge that AIB's share price will buck the global stockmarket trend on bank shares? No offence to Irish journalism, but I suspect you're attributing greater influence to it than it actually possesses.
I
IFT
Guest
I dont believe i said that.
What i am saying is that if i wrote an article in the indo about the Property market , would it be of relevance to declare any major financial interest. I believe so.
Look Clubman,
I am of the opinion that changes in the mortgages market may effect how it handles future mortgage arrears. I expressed that opinion here, a financial website. I also asked two particular questions of someone who appears to have experience of that business. I don't see the relevance of either of your postings.
I am of the opinion that changes in the mortgages market may effect how it handles future mortgage arrears. I expressed that opinion here, a financial website. I also asked two particular questions of someone who appears to have experience of that business. I don't see the relevance of either of your postings.
LDFerguson
Registered User
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Why?
If Brendan wrote a piece expressing the view that AIB or financial shares in general were an excellent buy, then a declaration of interest would be appropriate. I fail to see how Brendan's personal shareholdings could possibly be considered relevant to the article that he wrote.
By the same token, do you believe that every journalist who writes for the business pages should be required to declare their personal financial holdings? Or that every guest writer for a newspaper should be required to do the same, regardless of the content of the piece?
Brendan Burgess
Founder
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Folks
Let's not side track the important issue here of what to do for someone in arrears.
I hold my shares in my own name - I don't use nominee accounts to hide them. My shares are a matter of public record. Or very public as the Sindo likes to mention them from time to time.
If I refer positively to AIB on Askaboutmoney or elsewhere (which is not very often) , I mention that I am a shareholder. When I comment on banking practices in general, it is not relevant, so I don't mention it.
Brendan
Let's not side track the important issue here of what to do for someone in arrears.
I hold my shares in my own name - I don't use nominee accounts to hide them. My shares are a matter of public record. Or very public as the Sindo likes to mention them from time to time.
If I refer positively to AIB on Askaboutmoney or elsewhere (which is not very often) , I mention that I am a shareholder. When I comment on banking practices in general, it is not relevant, so I don't mention it.
Brendan
Bank Manager
Registered User
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Not sure I fully understand your questions ...
a) Are you asking 'do mortgage brokers bring mortgage applications to banks'?
ANS: Yes - (i) same lending criteria applies whether broker introduced or not and (ii) banks pay brokers a % comission when mortgage is drawn.
b) Are you asking if if Irish Banks secuitise their mortgage book (or part thereof)?
ANS: Can't answer for the market as a whole - but I do know that the bank I work for (BOI) have securitised parts of the mortgage book in the past.
c) Not sure what question if any you are raising in your last paragraph.
Regards,
BM
Fair enough. But obviously I wasn't the only one confused by your post.
BM,
Thank for your reply. If a bank securitizes
a loan or mortgage who now owns the loan? Do they merely service the loan or do they still own the loan? So if a borrower falls into arrears on a mortgage can a bank be flexible or change a payment plan on a loan they have securitized?
Thanks
Thank for your reply. If a bank securitizes
a loan or mortgage who now owns the loan? Do they merely service the loan or do they still own the loan? So if a borrower falls into arrears on a mortgage can a bank be flexible or change a payment plan on a loan they have securitized?
Thanks