Eh, Houston, we have an (Ulster Bank) problem


#1

https://www.irishjobs.ie/Jobs/Graduates-required-for-Banking-Advisory-8539174.aspx

Our Transaction Services practice require a number of graduates to work on a particular project reviewing and checking certain data on an initial 6 -9 month contract.

Ability to assimilate facts and make decisions based on same;


#2

A forensic/low level audit?


#3

Vendor Due Diligence on a Ulster Bank sale ? “As part of the purchase the vendor will assign a KPMG report on loan documentation quality”

Some cool scandal I can’t imagine ?


#4

Someone getting wobbly that UB’s slow/poor processing of mortgage scandal cases may come into focus and wants to get it tidied up?


#5

#6

Who will they sell their mortgage book to is a political problem. Also the legacy of their IT meltdowns will have some effect on a sale IMO, I did some work for them in the distant past and it was frightening, I also recall a more recent conversation with an employee in debt collection who related horror stories about retrieving recent hostorical data about loans he was working on.


#7

#8

An old established third force pulls out of the dysfunctional Irish Banking market, thousands of jobs lost, towns left without a branch.

But yet a lot of the talk around this was along the lines of ‘I hope a vulture fund doesn’t buy me mortgage’

Why? cause they don’t eat shit and ‘cut deals’?


#9

I wonder how many mortgage holders with UB will now cancel their standing order mortgage payment, thinking they’ll get a deal before UB pull out


#10

I strongly suspect that “strategic defaulters” will have their mortgages split off from the pack that will go to the other Irish banks and instead be offered up to the vultures.

In other words, it would be a very stupid move.


#11

I’m dying for former Casino Operator David Hall to come out eventually and bemoan the lack of competition, high rates in the market etc.

With a No Repossessions mindset ingrained in every institution and Casino guys like Hall given a platform for moaning, what did he expect ?


#12

Long winded repossession process and brain farts like Michael McGrath’s plan to cap mortgage interest rates - is it any wonder no banks are lining up to enter the Irish market.