Saturday September 19, 2020

IMHO criticises PTSB’s "cynical" loanbook sale

The Irish Mortgage Holders Organisation has sharply criticised Permanent TSB and its sub-prime unit Springboard for its decision to sell two loan books of impaired mortgages.

24th June, 2014
David Hall, director of IMHO called the decision "cynical"

The Irish Mortgage Holders Organisation has sharply criticised Permanent TSB and its sub-prime unit Springboard for its decision to sell two loan books of impaired mortgages worth €488 million.

PTSB holdings has hired Morgan Stanley to sell its sub-prime residential mortgage loan books, according to Bloomberg reports.

David Hall, director of IMHO, said the action was taking place despite an unfulfilled promise by the Department of Finance to bring legislation to protect consumers when mortgages...

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