Regulatory Alerts2019-08-21
Central Bank of Ireland expectations for firms regarding sales, securitisations, purchases and transfers of residential mortgage loans
The Central Bank of Ireland issued this letter to set out regulatory expectations for credit institutions conducting mortgage loan transactions, emphasizing the protection of consumers in arrears. The regulator requires firms to conduct thorough due diligence, ensure accurate data reporting to the Central Credit Register, and honor existing Alternative Repayment Arrangements with borrowers. Additionally, firms must perform consumer impact analyses and provide board-level assurance that their policies and controls are robust enough to manage these risks effectively.
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