tag:blogger.com,1999:blog-2826531655042170344.post6183067579787493853..comments2024-03-26T11:29:52.986+00:00Comments on Economic Incentives: 10,000 mortgagesSeamushttp://www.blogger.com/profile/15679299530222667673noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-2826531655042170344.post-29763709542168692142011-12-22T05:32:41.526+00:002011-12-22T05:32:41.526+00:00Theres a lot of companies and individuals that has...Theres a lot of companies and individuals that has many offers and they want the most affordable and best for them.<br /><br /><br /><a href="http://www.mortgages95.com/" rel="nofollow">95% mortgages</a>cailhttps://www.blogger.com/profile/13366000260147516838noreply@blogger.comtag:blogger.com,1999:blog-2826531655042170344.post-74773282572475069912011-08-16T17:01:02.252+01:002011-08-16T17:01:02.252+01:00Hi yogan,
I don't think the mortgage arrears ...Hi yogan,<br /><br />I don't think the mortgage arrears data includes securitised loans. Not sure.<br /><br />I would guess that Bank of Scotland (Ireland) are in the data. They give details of €116 billion of mortgages. The covered banks had about €76 billion of owner-occupied mortgages when reported in the stress tests. It is likely that the €8 billion of mortages in BoS(I) would be included in the overall total. Their loan book seems to be an even bigger mess than some of the covered banks.<br /><br />There is no evidence that these 10,000 loans exist, and even less evidence that they are in the covered banks. I would like to have actual data to prove this but, for the moment, that is not available. Neither side has evidence so it's a bit of a guessing circle.<br /><br />I would guess that the total number of these loans is only fraction of the amount claimed, and that the amount in arrears is only a fraction of that again.Seamus Coffeyhttp://economic-incentives.blogspot.com/noreply@blogger.comtag:blogger.com,1999:blog-2826531655042170344.post-26244218307743699402011-08-16T16:13:03.645+01:002011-08-16T16:13:03.645+01:00Thanks for that - yeah, there's more from NWL ...Thanks for that - yeah, there's more from NWL on the subject too - it does look like the IBA were referring to residential mortgages. Now, I know one professional person who has one of those mortgages (and I don't know many people - house bought with mortgage of 600k, another 500k spent fixing it up + cars + holidays). So if everyone else knows 1... :D<br /><br />Does the FR's figures include securitised loans too? And/or BOSI? (I should know the answer given my pontifications, but I find it hard to keep track of which bits of data are inclusive and which are not, sorry).yoganmahewnoreply@blogger.comtag:blogger.com,1999:blog-2826531655042170344.post-63887342185849800552011-08-16T16:12:49.590+01:002011-08-16T16:12:49.590+01:00Bank annual reports show mortgage delinquency. CBI...Bank annual reports show mortgage delinquency. CBI does the same thing.<br /><br />Euro amount of 90day plus delinquent mortgages capture million euro loans - and everything else.<br /><br />Kelly seems keen to extrapolate from his earlier position until he reaches an absurd conclusion. Should every cent of Irish banks assets be written off as illusory?<br /><br />Ironically, this is the same approach taken previously by the boom cheerleaders: extrapolate to absurdity. Blind anger has replaced blind exuberance with similar effect.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2826531655042170344.post-7564420505646970412011-08-16T14:58:44.684+01:002011-08-16T14:58:44.684+01:00Hi yogan,
Yes, if we look at commercial loans to ...Hi yogan,<br /><br />Yes, if we look at commercial loans to professionals the story could be very different. The claim, led by the Irish Brokers Association, was that these were mortgages and that the loans were for their private residences. <br /><br />If they are commercial real estate loans they obviously won't show up in the mortgage statistics. There are definately 10,000 €million plus loans in the economy. There is no doubting that. <br /><br />If we try to look for them we will find them. <br />As you say the sub-€20 million developer loans would be a good place to start. But I don't think it is news to reveal that these loans are tanking.<br /><br />I still doubt that there are 10,000 €million plus residential mortgages out there, especially if we further narrow it down to interest-only loans given to professionals at the peak of the boom.<br /><br />The Financial Regulator's mortgage arrears data only covers owner-occupied mortgages, buy-to-let mortgages are not included.Seamus Coffeyhttp://economic-incentives.blogspot.com/noreply@blogger.comtag:blogger.com,1999:blog-2826531655042170344.post-6372436436046359812011-08-16T13:13:42.692+01:002011-08-16T13:13:42.692+01:00PS we already know that some loans for PPRs were g...PS we already know that some loans for PPRs were given as commercial loans. <br /><br />Also, are the above statistics from the FR talking about residential mortgages? What about BTL?yoganmahewnoreply@blogger.comtag:blogger.com,1999:blog-2826531655042170344.post-42672046562521726702011-08-16T13:09:55.931+01:002011-08-16T13:09:55.931+01:00Perhaps talking about 10,000 million plus commerci...Perhaps talking about 10,000 million plus commercial loans to professionals might give a different picture?<br /><br />Somebodies have to have borrowed the vast amounts that ended up in NAMA (other than the large borrowers that we largely know about) and that were not transferred (the sub-20 million loans for BoI and AIB, I think).<br /><br />We don't know who the bodies are, though.yoganmahewnoreply@blogger.com