Only co-operation will solve mortgage crisis

Mortgage arrears has become Ireland’s never-ending problem. As dealt with extensively in this newspaper this weekend, there remains a lack of a coordinated plan to deal with the problem.

Consider this: in December 2008, the Central Bank issued a press release in which its then consumer director, Mary O’Dea, called on mortgage lenders to engage with borrowers experiencing financial difficulties. At the time the Central Bank asserted that “lenders generally have procedures in ...