1) It will prevent a bubble in the property market from arising again because the old recourse mortgages resulted in reckless lending by banks
2) It will be a welcome paradigm shift in Irish Banking which is a common mortgage arrangement in the USA
3) It will prevent an overheated property market arising again in the future as Banks will be more vigilant in assessing loans to values
4) Lending practices will be far more prudent and therefore the incidence of non-performing loans is dramatically reduced
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