Central Bank warns lenders over inadequate customer engagement in early mortgage arrears.
Central Bank review reveals lenders fail to adequately engage with borrowers in early mortgage arrears. Quality of customer service needs improvement, particularly for borrowers facing early arrears amid a pickup in short-term arrears. Banks, non-bank lenders, and firms serving mortgage accounts for vulture funds have been warned by the Central Bank about their handling of homeowners going into arrears.
April 24, 2024
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