A report due out today will claim NAMA lost out on hundreds of millions of euro in the sale of its Northern Irish loans.

The long-awaited report from the state’s official auditor will be released after it’s cleared by cabinet.

The report from the Comptroller and Auditor General - thought to be hundreds of pages long - deals with the sale of the so-called ‘Project Eagle’ portfolio of loans relating to property in Northern Ireland.

That portfolio had an original face value of 5-and-a-half billion euro.

When the loans were eventually sold to Cerberus in early 2014, NAMA received 1.6 billion.

NAMA has always insisted it got the best possible price for the loans - but it’s believed the report today will say there were major irregularities in the sale, which reduced the possible process by hundreds of millions.

Attention will then turn to NAMA - which is already poised to reject the findings and deny it did anything to deny income for the taxpayer.