Ulster Bank mortgage sell off to vulture capitalists as wrong as it gets says Crowe<\/p>\n
Dublin South West and Sinn F\u00e9in TD Se\u00e1n Crowe has described the Ulster Bank decision to\u00a0 sell a loan book of 900 loans including 120 distressed family home mortgages to a vulture fund as wrong as it gets.<\/p>\n
Deputy Crowe said Sinn F\u00e9in has written to Minister Noonan and to Ulster Bank and called on them to stop the sale.<\/p>\n
Deputy Se\u00e1n Crowe\u00a0 said:<\/p>\n
“As a customer of Ulster Bank\u00a0 I am absolutely disgusted by this move from Ulster Bank especially the inclusion of distressed family home mortgages in this sell off and am calling on the bank to stop this sale.<\/p>\n
“Ulster Bank deciding to sell off\u00a0 a loan book of 900 loans including 120 distressed family home mortgages to a vulture fund is wrong.<\/p>\n
\u201cThis is as wrong as it gets and at the very least the element of this sale which includes distressed mortgages should be stopped. I\u00a0 believe all political opinion and the general public are united behind that call on Ulster Bank.<\/p>\n
“The new legislation brought in so belatedly last year is not providing adequate protection to distressed homeowners. Until it is revised all responsible banks and particularly those who rely so heavily on Irish customers should not be selling any loans but especially ones in distress to vulture capitalist funds.<\/p>\n
“Sinn F\u00e9in argued during the period when the legislation was being debated in the Oireachtas for more safeguards to be put into the law but after intense lobbying from these vulture funds and others, this was diluted down to allow sales like this to progress.<\/p>\n
“Vulture funds are the carrion that strip assets in the pursuit of maximum profit, regardless of who they hurt or their impact on society. Shame on Ulster Bank for abandoning their distressed mortgage holders and shame on the Irish Government for facilitating and alowing this sell off of distressed mortgages.” ENDS<\/p>\n","protected":false},"excerpt":{"rendered":"
Ulster Bank mortgage sell off to vulture capitalists as wrong as it gets says Crowe Dublin South West and Sinn F\u00e9in TD Se\u00e1n Crowe has described the Ulster Bank decision to\u00a0 sell a loan book of 900 loans including 120 distressed family home mortgages to a vulture fund as wrong as it gets. Deputy Crowe […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2588","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/posts\/2588","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/comments?post=2588"}],"version-history":[{"count":1,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/posts\/2588\/revisions"}],"predecessor-version":[{"id":2589,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/posts\/2588\/revisions\/2589"}],"wp:attachment":[{"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/media?parent=2588"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/categories?post=2588"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/tags?post=2588"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}