Category Mortgage Securitisation

Mortgage holders ‘not fully informed of their rights’ | Irish Examiner


The Master of the High Court, Edmund Honohan, made the comments as he said mortgage holders must be prepared to fight for their rights in the courts amid any moves to alter loan arrangements. In an interview with the Irish Examiner, he addressed the sale of over 13,000 Irish Nationwide home mortgages which will be completed […]

Banks and Morality..do they exist in the same sphere?….


…or is it the case that never the twain can meet? Is high finance the be all and end all of human existence? is it possible to incorporate moral clauses into financial contracts? is there a requirement for such clauses? Who says that the term of lets say a Mortgage Contract must be set in […]

ICS (Irish Civil Service Building Society) Securitisation…Kildare Securities Ltd…..


So I had another friend ask if ICS (Irish Civil Service Building Society) had engaged in Securitisation? Short answer – YES  (it’s always yes ‘cos they all did) This one’s for you Pat & A But lets take a closer look….. first a little history…. Bank of Ireland bought ICS in 1985, prior to that […]

What happened to Irish Nationwide’s Armoin Residential Securities Ltd???………


Following on from my last post I can report the following: Armoin made an announcement to the Irish Stock Exchange indicating that on 1st July 2011 a full complete transfer of all its assets to IBRC would take place the following is a link to this announcement: http://origin-www.bloomberg.com/apps/news?pid=conewsstory&tkr=AIB:LN&sid=a_XbFioY01AQ NO CONSENT FROM THE BORROWERS SOUGHT IN […]

Armoin Residential Securities Ltd….Irish Nationwide’s weapon of financial destruction


On the eve of a hopefully successful display of ordinary people’s disgust at the impending sale of 13,000 plus Irish Homeowners Mortgages to unknown entities, probably foreign Vulture Funds I have taken a top-level look at Irish Nationwide Building Society’s parting salvo to the Irish People, the sale of 10,487 Residential Irish Mortgages which took […]

IBRC, INBS a little clarity……


With thanks to Tom Darcy….. €2.5 BILLION SCANDAL RTE FAILED TO EXPOSE To every person in this state and affected by IBRC/ANGLO Bank Some facts Prime Time on RTE failed to disclose. 1. All loans by Irish Nationwide Building Society (INBS) were securitized by their shadow company Armoin Residential Securities.(ARS) 2. Those whose mortgages were […]

“NOVEL”…A Word every Judge loves to hear…….


Judges are no different from every working stiff, they get bored with the same old, same old, in fact nothing makes them happier that a “novel” case, something to exercise their learned minds, they really just love it! So start thinking outside the box, as lay litigants we are in the enviable position of not […]

KBC Bank….Securitisation History in Ireland


I have had a request regarding KBC Bank and their involvement in Securitisation in Ireland, as I have stated previously that it is up each individual borrower who wants to engage with their Bank and call them out on the practice of Securitisation which they did not consent to, borrowers who  want to know if KBC have the right […]

Irrevocable Power of Attorney!!!!…….More sharp practice???????


A friend has asked me for my view on Irrevocable Power of Attorney, which is granted to a Lender in the Mortgage Charge as standard in Ireland. I have, over the past several years, asked many, many borrowers if they were aware that they had granted an “Irrevocable Power of Attorney” to their Bank as […]

PTSB Securitisation….a typical response….vacuous!


The following is correspondence from a PTSB Mortgagor who has establish unequivocally, by admission that his mortgage has been Securitised (sold) within a Special Purpose Vehicle (SPV) called ” Fastnet “, this is not all the correspondence but the most recent……. Mortgagor: Hi *******, As you can see below Article 4 of the Central Bank rules in relation […]

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