Inquiry over broker lending

THE Irish Mortgage Corporation has launched an internal investigation after unscrupulous practices were unrevealed in its subprime operations.

Hidden cameras used by RTÉ’s Prime Time programme revealed brokers at one of its companies, Moneyzone, advising customers of ways they could subvert the mortgage application process and get a loan that wouldn’t otherwise be sanctioned.

In one video clip, employees told a reporter that he should lodge money to his bank accounts, to make it look healthy, and that he could withdraw this money the day after or even 10 minutes later.