Credit Servicing Regulation and Practices in Ireland

Question for written answer Z-000011/2025 to the Chair of the ECB Supervisory Board Rule 147 Luke Ming Flanagan (The Left) Subject: Ireland’s Credit Servicing Regulation and practices 1. Can a credit originator who transfers collateral to a credit purchaser also be a credit servicer and deal with the collateral thereafter as legal owner on trustee terms agreed with the credit purchaser, and in so doing, conceal the identity of the credit purchaser? 2. If a credit servicer falsifies the public register of title by failing to register the transfer of title from credit originator to credit purchaser and instead seeks enforcement under the pretence of an uncorrected (and therefore, falsified) registered title, are they subject to sanction by the regulator? 3. Has the Central Bank of Ireland (CBI) reported to the ECB on its Credit Servicers Directive1 supervision of the operation of servicing contracts in Ireland, and in particular, the responsibilities of the credit purchaser in regard to both interest rate modification and forbearance engagement with borrowers in arrears under paragraph 29 of the Consumer Mortgage Credit Agreement Regulation, having regard to the 20 questions posed to it by the Finance Committee of Dáil Éireann2 and the CBI’s casual and inadequate response thereto to the effect that ‘the Central Bank must have regard to the particular facts of each scenario’? 1 Directive (EU) 2021/2167 of the European Parliament and of the Council of 24 November 2021 on...