Regulatory Alerts2015-11-30
Addendum to the Code of Conduct on Mortgage Arrears 2013 for Credit Servicing Firms
The Central Bank of Ireland issued this addendum to extend the Code of Conduct on Mortgage Arrears 2013 to credit servicing firms following the Consumer Protection (Regulation of Credit Servicing Firms) Act 2015. The document amends the Code's scope and definitions to replace the term 'lender' with 'regulated entity' and explicitly includes credit servicing activities within the Code's application. These changes ensure that firms managing mortgage loan books are treated as regulated entities subject to the same conduct standards as mortgage lenders.
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