Banking

‘Retired’ master of High Court urges Central Bank to protect borrowers in home repossession cases

Edmund Honohan accused some credit servicing firms of ‘falsely’ representing themselves as owner of home loans to secure repossession orders from courts

Edmund Honohan: ‘It is also to be hoped that the Central Bank will be proactive in holding the servicers to account if they continue to assert legal ownership’

The retired master of the High Court has accused some credit servicing firms of “falsely” representing themselves as the owner of home loans in order to secure repossession orders from the courts.

Edmund Honohan has also called on the Central Bank to step up its enforcement activity on credit servicing companies, ahead of the introduction of new EU rules which he said will tip the scales away from lenders and towards borrowers.

Honohan – who ...