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Patrick Honohan recommended that an independent study on mortgage brokers in relation to crash be carried out. It is unlikely he would say this without grounds for concern. What is your view on this?
Hi Julie,
What I can say is that these concerns were voiced, which is reasonable, nothing should be considered ‘off the table’, but no follow up of a meaningful nature took place that we know of because the initial research seems to indicate that brokers were a conduit for credit but not the underwriters of the credit.
It’s impossible to say what the former Governors thoughts were on why this was necessary, the absence of follow up speaks as loudly. We would welcome any review or investigation as long as it was done with a view to making the market better for consumers.