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Dublin: 18 °C Sunday 21 July, 2019

#Vulture funds

From TheJournal.ie Ulster Bank sells off nearly 4,000 of its customers in massive family home loan book sale Mortgage Sale

Ulster Bank sells off nearly 4,000 of its customers in massive family home loan book sale

90% of the loans due to be sold are family homes – about 3,200 accounts.

From TheJournal.ie Taoiseach asks for details about letters sent to mortgage-holders demanding full payment of arrears within 30 days Cabot Financial

Taoiseach asks for details about letters sent to mortgage-holders demanding full payment of arrears within 30 days

Taoiseach has said it is now time for to review the tax treatment of vulture funds.

From TheJournal.ie Taoiseach says he didn’t realise his mortgage could be sold on by his bank when he took it out in 2003 Vulture Funds

Taoiseach says he didn’t realise his mortgage could be sold on by his bank when he took it out in 2003

In an interview with TheJournal.ie this week, the Taoiseach said he understood the intent behind Sinn Féin’s No Consent No Sale Bill.

From TheJournal.ie Concerns over letters sent to mortgage-holders demanding full payment of arrears within 30 days Vulture Funds

Concerns over letters sent to mortgage-holders demanding full payment of arrears within 30 days

The Central Bank is aware that a regulated entity has written to a number of buy-to-let borrowers in arrears.

From TheJournal.ie 'Cuckoo funds' shutting out first-time buyers and operating tax-free need urgent review, says FF Housing

'Cuckoo funds' shutting out first-time buyers and operating tax-free need urgent review, says FF

Corporate investors known as so-called ‘cuckoo funds’ have spent over €1.1 billion on nearly 3,000 residential properties in Ireland last year

From TheJournal.ie Finance Minister says he wouldn't mind if his mortgage was held by a vulture fund Banks

Finance Minister says he wouldn't mind if his mortgage was held by a vulture fund

The minister said the Sinn Fein Bill to give mortgage holders the power to block the sale of their loans to vulture funds is unconstitutional.

From TheJournal.ie 'The banks are dictating what happens': TDs say government relying on 'constitution' card to block vulture funds Bill Sell Off

'The banks are dictating what happens': TDs say government relying on 'constitution' card to block vulture funds Bill

Officials were quizzed about their assertions the Bill is unconstitutional and would result in higher mortgage interest rates.

From TheJournal.ie Central Bank to scrap code of conduct for banks on the transfer of mortgages as it's 'not relevant' Homeowners' Rights

Central Bank to scrap code of conduct for banks on the transfer of mortgages as it's 'not relevant'

Sinn Féin’s No Consent, No Sale Bill aims to puts the code on a statutory footing.

From TheJournal.ie UN says Ireland applies 'preferential tax laws' to vultures funds and it 'cannot continue' Housing

UN says Ireland applies 'preferential tax laws' to vultures funds and it 'cannot continue'

The report states that “landlords have become faceless corporations wreaking havoc with tenants”.

From TheJournal.ie High Court Master says case could be taken against Ireland over special tax treatment given to vulture funds Tax Loophole

High Court Master says case could be taken against Ireland over special tax treatment given to vulture funds

Edmund Honohan has said there are many similarities to be drawn with the Apple case being taken.

From TheJournal.ie Taoiseach told that 'banks are as aggressive and as arrogant as the time of the crash'

Taoiseach told that 'banks are as aggressive and as arrogant as the time of the crash'

Fianna Fáil TD John McGuinness told the Taoiseach that people are crying out for help.

From TheJournal.ie Bill which aims to force banks to ask for permission before selling mortgages to vulture funds passes in the Dáil Great Irish Sell Off

Bill which aims to force banks to ask for permission before selling mortgages to vulture funds passes in the Dáil

The Bill puts into law what already exists at the moment as a voluntary Central Bank code

From TheJournal.ie Opinion: Sound the alarm - a proposed EU directive on bad loans will give vulture funds a free rein Opinion

Opinion: Sound the alarm - a proposed EU directive on bad loans will give vulture funds a free rein

A proposed new EU Directive aims to develop a secondary market for non-performing loans and poses a serious threat to the rights of borrowers and consumers, writes Matt Carthy.

From TheJournal.ie 'It's your job to call the vulture funds out': High Court Master pens letter to Micheál Martin Fair Mortgage Bill

'It's your job to call the vulture funds out': High Court Master pens letter to Micheál Martin

Edmund Honohan urged the Fianna Fáil leader to support a piece of legislation he wrote that is currently before the Dáil.

From TheJournal.ie Almost 7,000 loans in arrears held by 'unregulated loan owners' Vulture Funds

Almost 7,000 loans in arrears held by 'unregulated loan owners'

Unregulated loan owners hold 17% of all mortgages in arrears over 720 days.

From TheJournal.ie Taoiseach vows to close loophole that allows €1.3bn mortgage 'vehicle' not to pay tax Mortgage Sell-off

Taoiseach vows to close loophole that allows €1.3bn mortgage 'vehicle' not to pay tax

Last week, PTSB bank bosses confirmed that the ‘special purpose vehicle’ which more than 6,000 of its mortgages have been transferred to will be exempt from tax.

From TheJournal.ie Central Bank to track a 'critical mass' of restructured mortgages that are due to come up for review Mortgage Arrears

Central Bank to track a 'critical mass' of restructured mortgages that are due to come up for review

Finance Minister Paschal Donohoe said there will be no change to the code of conduct, as it is working effectively.

From TheJournal.ie 343 homes repossessed over mortgage arrears during second quarter of 2018 Mortgage Crisis

343 homes repossessed over mortgage arrears during second quarter of 2018

Tens of thousands of people are still feeling the effects of the mortgage crisis ten years later.

From TheJournal.ie Finance Minister says it's up to PTSB if it wants to appear before the finance committee over loan sale Vulture Funds

Finance Minister says it's up to PTSB if it wants to appear before the finance committee over loan sale

Last month, PTSB sold its controversial Project Glas loan portfolio to an affiliate of the so-called vulture fund Lone Star for around €1.3 billion.

From TheJournal.ie Mortgage-holders caught up in PTSB loan sale to be invited to tell of the turmoil it has caused Vulture Funds

Mortgage-holders caught up in PTSB loan sale to be invited to tell of the turmoil it has caused

Sinn Féin’s finance spokesperson Pearse Doherty said a full committee session should be dedicated to the loan book sale.

From TheJournal.ie 'Mary' is recovering from cancer and her mortgage - in €29k arrears - has been sold to a vulture fund Sell Off

'Mary' is recovering from cancer and her mortgage - in €29k arrears - has been sold to a vulture fund

‘Mary’ has been out of work since her cancer diagnosis. She had no idea her mortgage was to be sold to a vulture fund.

From TheJournal.ie 'We own some of the banks, but we don't run the banks': Minister says government can't stop vulture fund sales Where's Paschal?

'We own some of the banks, but we don't run the banks': Minister says government can't stop vulture fund sales

Questions have been mounting as to where Finance Minister Paschal Donohoe is in the midst of this summer’s vulture fund sell off.

From TheJournal.ie Shane Ross: 'I'm sorry some people will lose part of their front gardens, but it's in the national interest' Interview

Shane Ross: 'I'm sorry some people will lose part of their front gardens, but it's in the national interest'

In an interview with TheJournal.ie, Shane Ross also says the government needs to have more of a say in State-owned banks.

From TheJournal.ie PTSB sells thousands of home loan mortgages to vulture fund Sell Off

PTSB sells thousands of home loan mortgages to vulture fund

A total of 7,400 are owner-occupier mortgages, while 3,300 are buy-to-let properties.

From TheJournal.ie A 'difficult decision': Ulster Bank confirms it will sell 6,500 mortgages in arrears Sell Off

A 'difficult decision': Ulster Bank confirms it will sell 6,500 mortgages in arrears

Around 3,600 of the mortgages are private dwellings that have fallen in arrears.

From TheJournal.ie 'There's power in community': Farmers urged to boycott forced sales of farms by vulture funds People Power

'There's power in community': Farmers urged to boycott forced sales of farms by vulture funds

The IFA has been contacted by around 200 farmers impacted by the issue so far this year.

From TheJournal.ie 'It's a gagging order': Department tells councillors not to discuss private planning applications

'It's a gagging order': Department tells councillors not to discuss private planning applications

Councillors have said the direction from the Department of Housing is an attempt to undermine local democracy.

From TheJournal.ie 'Landlord said it was none of his business': Tenants left 'in limbo' after vulture funds buy property Receivers

'Landlord said it was none of his business': Tenants left 'in limbo' after vulture funds buy property

Housing charity Threshold says numerous renters had contacted it over problems with vulture funds and receivers.

From TheJournal.ie Grafton Street branch of PTSB occupied by anti-vulture fund demonstrators Permanent TSB

Grafton Street branch of PTSB occupied by anti-vulture fund demonstrators

The protesters accuse the bank of putting the lives of people in almost 20,000 households in jeopardy.

From TheJournal.ie Taking on vulture funds and using State lands: How the opposition is trying to fix Ireland's housing situation Rents And Mortgages

Taking on vulture funds and using State lands: How the opposition is trying to fix Ireland's housing situation

The utilisation of State land for affordable rental properties and the regulation of vulture funds is to be debated in the Dáil.

From TheJournal.ie Protesters deliver a coffin to the door of PTSB, as government agrees to regulate vulture funds Mortgage Arrears

Protesters deliver a coffin to the door of PTSB, as government agrees to regulate vulture funds

The Central Bank is to review their code of conduct for how financial institutions deal with those in mortgage arrears.

From TheJournal.ie PTSB chief refuses to appear before Finance Committee next week over loan sale Vulture Funds

PTSB chief refuses to appear before Finance Committee next week over loan sale

The bank recently announced it is to sell off a €3.7 billion portfolio of non-performing loans, including mortgages 14,000 private dwelling homes.

From TheJournal.ie Dealing with a vulture fund - how these families have coped Vultures

Dealing with a vulture fund - how these families have coped

With tens of thousands of mortgage holders potentially facing vulture funds, we spoke to some people who’ve been through it already.

From TheJournal.ie Mortgages sell-off will disrupt already-volatile housing market, charities warn Vulture Fears

Mortgages sell-off will disrupt already-volatile housing market, charities warn

Ulster Bank said today that it would be looking to offload around 7,000 mortgages on top of PTSB’s proposed 18,000.

From TheJournal.ie Harris on PTSB home loan sale: 'It's time to see a bit of humility from our banks' Vulture Funds

Harris on PTSB home loan sale: 'It's time to see a bit of humility from our banks'

Sinn Féin’s Pearse Doherty said the bank has been asked to appear before the Oireachtas Finance Committee next week.

From TheJournal.ie Minister concedes homeowners who engaged with PTSB may not have deals honoured Vulture Funds

Minister concedes homeowners who engaged with PTSB may not have deals honoured

PTSB, which is 75% State owned, has been defending its plan to sell off a book of non-performing loans.

From TheJournal.ie 'Many have made no payments at all for years': PTSB defends controversial €3.7 billion mortgage sell off Political Battle

'Many have made no payments at all for years': PTSB defends controversial €3.7 billion mortgage sell off

The proposed sell-off has become the subject of a political battle in recent days.

From TheJournal.ie 'You're throwing people to the vulture funds': Government criticised for taking no action to halt PTSB loan sale Fire Sale

'You're throwing people to the vulture funds': Government criticised for taking no action to halt PTSB loan sale

PTSB, which is 75% owned by the State, states it is selling off non-performing loans.

From TheJournal.ie 'I wouldn't want to go up against them alone': Vulture fund ramps up taking homeowners to court Pentire

'I wouldn't want to go up against them alone': Vulture fund ramps up taking homeowners to court

Pentire Property Finance is a subsidiary of US investment giant CarVal.

From TheJournal.ie 'Take a look in the mirror': Why didn't the Central Bank act earlier on the tracker mortgage scandal? Tracker Scandal

'Take a look in the mirror': Why didn't the Central Bank act earlier on the tracker mortgage scandal?

The Central Bank’s governor Philip Lane confirmed 13,000 impacted customers are still waiting to get their money back.

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