And mortgage campaigner David Hall, who met bank executives yesterday, revealed it is determined to offload the accounts to vultures and has no interest in saving customers – even those who are paying loans.
Today the Irish Daily Mirror begins a campaign to stop PTSB and other banks from selling off up to 42,000 mortgages to vulture funds in a move which could result in mass evictions.
"Please banks or vultures come and debate me and stop sending out selectively briefed mouthpieces whom you have pumped full of selective info. You know the truth ."
As an aside, I've always thought that David Hall's operation (Irish Mortgage Holders Organisation) is very poorly named.
A mortgage holder is the entity that owns the right to receive payments under a mortgage loan and is the party entitled to enforce the terms of the associated mortgage (i.e. the security interest over the relevant property). However, from what I can gather Mr Hall actually advocates on behalf of defaulting borrowers against the interests of mortgage holders.