Monday May 25, 2020

Mortgage arrears numbers climbing

Unlike the Minister for Finance, credit rating agency Moody’s sees no signs of recovery in Ireland. So is more pain on the way for householders and for investors in securities backed by their mortgages?

12th December, 2009

As all eyes were on the budget last week, the fact that international credit rating agency Moody’s is pointing to mounting arrears in the €40 billion Irish residential mortgage-backed securities market (RMBS) got relatively little attention.

Moody’s noted that ‘‘delinquencies’’ in the RMBS market experienced another increase in October.

The numbers who failed to pay their mortgage for more than 90 days rose to 2.9 per cent...

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