Govt in talks to take action on mortgage crisis
on 16/02/2013 08:47:35
It is understood the proposals would see the banks forced to quickly take losses on loans in arrears - before entering a "split-mortgage" agreement.
That would see clients keep responsibility for the portion of the loan they can repay - with the segment they can't pay "warehoused" to be repaid at a later date.
Earlier this week, Central Bank Governor Patrick Honohan criticised the banks for not addressing the issue properly.