The Central Bank govenor Patrick Honohan has said some people in mortgage arrears are not repaying their home loans because of a sense of moral outrage at banks, politicians and the wider economy.
Mr Honohan also said that while banks have been slow so far to repossess homes, that must change if the mortgage crisis is to end.
Govenor Honohan's comments were delivered in a speech last Monday, the details of which were only circulated by the Central Bank today.
He told the gathering that while he does not believe there are strategic mortgage defaulters, some borrowers "aren't facing up to the fact that they must repay their loans".
He believes that in part at least that is because of a sense of "moral outrage at banks, politicians and the wider economy".
He also stated that a lack of consequence for those who are behind with their homeloan repayments means that some were "adopting a wait-and-see approach", adding that while banks have been slow to repossess homes the mortgage arrears crisis won't end until that changes.