Mortgage arrears code good news for investors, says S&P

The new code for mortgage arrears is good news for investors in residential mortgage-backed securities, or bond holders, according to the ratings agency Standard & Poor’s.

In an analysis of the new regulations introduced by the Central Bank on Jul 1, Standard & Poor’s (S&P) said it expected to see an increase in repossessions.

“In our view, the code could potentially slow the increase in mortgage arrears in Ireland, and may allow lenders to start repossession proceedings sooner.