US investment funds bought small number of performing mortgages from IBRC

Thursday 10 April 2014 19.05
It had been speculated that Lone Star and Oaktree only bought non-performing loans from IBRC
It had been speculated that Lone Star and Oaktree only bought non-performing loans from IBRC

Two US investment funds have bought a small number of performing mortgages as part of a portfolio of home loans which were acquired from the liquidators of Irish Bank Resolutions Corporation. 

It had been speculated that all of the mortgages acquired by the funds, Loan Star and Oaktree, were non-performing. 

However, in a written response to Independent TD Stephen Donnelly the IBRC liquidator Kieran Wallace said "small number" of performing mortgages were included in the sale. 

Mr Wallace added that he would not be going into further details for "reasons of confidentially".

Unsold loans will be transferred to the National Asset Management Agency.