Home repossessions are set to increase as banking gets back to normal Getty ImagesHome repossessions are set to increase as Irish banks look to resolve the remaining rump of bad loans, according to a leading credit ratings agency. DBRS, based in Toronto, said yesterday that it also expected Irish banks to make greater use of the securitisation market to offload troubled loan books. “DBRS anticipates that Irish repossessions will increase further because of improved willingness to work through the sizeable stock of mortgages in highly delinquent states. “DBRS also expects stabilisation in recovery lags at a level below the long-term trend, and similar to that displayed for properties sold in 2016.”The level of bad loans has decreased from 23.5 per cent of all mortgages at the height of the economic crisis to 11 per cent. DBRS noted…

Source: The Times June 05, 2017 23:03 UTC