KBC selling non-performing mortgage loan portfolio to CarVal Investors

[Yggr of Asgard]

Important Update posted on their webpage:

https://www.kbc.ie/important-update-fro ... nk-ireland

On the 30th August KBC Bank Ireland announced it will sell substantially all of its non-performing mortgage loan portfolio and a small number of non-mortgage non-performing loans in a transaction financed by funds managed by CarVal Investors. Once this is completed, Pepper Finance Corporation (Ireland) DAC will be managing the loans. Pepper is regulated by the Central Bank of Ireland. Customers will continue to have the same legal and regulatory protections (for example under the Consumer Protection Code (CPC) and the Code of Conduct on Mortgage Arrears (CCMA)) after the sale. For more information on please click here.

https://www.kbc.ie/important-informatio ... ming-loans

[kadman]

Is there a potential scary outcome if somebody has a mortgage that is going to go through this transferral?
I assume there could be, I have yet to see a mortgage holder benefit when this happens.