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Tracker Mortgage Examination

Tracker Mortgage Examination

Introduction

As part of the Irish Central Bank Tracker Mortgage examination CubeMatch assisted in determining which mortgage accounts either unrightfully lost their right to a tracker mortgage or were overcharged in order to provide redress to the customer.

CubeMatch Deliverables

  • Development and submission of a detailed plan
  • Gathering of information/review and report submission
  • Calculation of redress and compensation (where relevant)
  • Implementation of redress programme (where relevant)

CubeMatch Approach

  • Professional BA
  • Rollout of step-for-step process
  • Comprehensive review of loan book
  • CubeMatch worked with the independent regulator to verify the lender’s results
  • Tracking/liaising within the Client team and with other sub teams as well as bank employees within the redress team

Challenges faced

  • Missing loan documentation requiring independent oversight to ensure both the bank and the Central bank were satisfied

Benefits Delivered

  • Determined which loan were impacted
  • Trained employees
  • Remediated and delivered redress to affected accounts
  • Improved customer satisfaction