Category Archives: Housing Finance Feed Subscription

• THE OFFICIAL PRESS STATEMENT OF DR NGOZI OKONJO-IWEALA AT THE NMRC LAUNCH

  3Invest Media January 18, 2014

  

  NMRC was officially launched by His Excellence Dr, Goodluck Ebele Jonathan on January 16th, 2014 in Abuja. Thank you very much your Excellency Mr. President; your Excellency, Mr. Vice President; Excellency Executive Governors and deputy Governors, members of the National Assembly, members of the Federal Executive Council, general partners, members of the diplomatic corps, members of the professions that relate... Read more »

• Expectation high as NMRC, PMBs bring liquidity to mortgage market in 2014

  3Invest Media January 4, 2014

  

  Among prospective homeowners and real estate investors, expectation is high that access to housing finance would increase significantly in 2014 as the primary mortgage banks (PMBs) conclude their recapitalisation today and the Nigerian Mortgage Refinance Company (NMRC) commences operation in a couple of months from now. The Nigerian mortgage market is enmeshed in a deficit that analysts estimate to be... Read more »

• NMRC LAUNCH DEFERRED

  3Invest Media December 20, 2013

  

  The launch of the Nigeria Mortgage Refinance Company (NMRC), which was due for Thursday 12 December, 2013, was deferred because of the unavoidable absence of the President. President Goodluck Ebele Jonathan (GCFR) joined other world leaders to pay tribute to the former President ofSouth Africa, Nelson Mandela. 3INVESTONLINE is working closely with the organisers and promises to update of the... Read more »

• NMRC: Hope to a dearth sector

  3Invest Media November 26, 2013

  

  Recently, the Federal Government gave approval for the disbursement of the $300 million World Bank loan for the implementation of the Nigerian Mortgage Refinance Company (NMRC), raising hope and expectation of the emergence of a robust mortgage industry in the country. NMRC is a secondary mortgage company. It will refinance mortgages originating from primary mortgage lenders including Primary Mortgage Banks... Read more »

• Nigeria needs N56trn to bridge housing deficit – Jonathan

  3Invest Media November 26, 2013

  

   President Goodluck Jonathan says Nigeria needs N56 trillion to bridge the country’s 17 million housing units deficit. Jonathan stated this at the 53rd General Assembly of the Nigerian Institute of Architects (NIA) in Abuja. The shortfall alone minus infrastructure, according to the President, would require more than N56 trillion, at an average cost of N3.5 million per housing unit to... Read more »

• NMRC: Move towards a standardized change in Nigeria’s secondary mortgage market

  3Invest Media September 3, 2013

  

  The Nigerian Mortgage Refinance Company (NMRC) plans to be opened for business by the first quarter of next year, with its focus on providing secondary market services for primary mortgage lenders for on-lending to the dynamic number of Nigerian house loan applicants NMRC, according to its promoters, has gone beyond the level of an idea having been registered; the Central... Read more »

• Lack of Foreclosure Law a threat our Mortgage Industry

  3Invest Media June 24, 2013

  

  TO improve homeownership for all categories of Nigerians, the nation needs to evolve a robust mortgage system and review its land tenor policy, stakeholders within and outside the real estate sector have said. They said this is imperative, if Nigeria’s housing sector will grow to meeting the ever-increasing demands of decent homes and accommodation. Lawyers, developers, financial experts both in... Read more »

• Property Finance | Key Consideration for Real Estate Projects

  3Invest Media October 30, 2012

  

  Real Estate Finance – Art or Science ? Keypoints: Understand the underlying asset / project |Use a common sense approach to projections | Real Estate Finance needs to be Structured Finance The Basics The real estate markets worldwide attempt to “mystify” this asset class, insisting that property is an art rather than a science. As the widest owned asset class in the... Read more »

• Securitization

  3Invest Media October 22, 2012

  

   INTRODUCTION TO SECURITIZATION Securitization involves issuing securities backed by a segregated pool of revenue producing assets. The most common type of asset securitized is a residential mortgage (Residential Mortgage Backed Securities-RMBS) The diagram below displays the structure of a generic securitization. The Bank sells the assets to a Special Purpose Vehicle (SPV), which issues bonds or notes to investors to... Read more »

• How to use mortgage finance in addressing housing deficit

  3Invest Media October 22, 2012

  

  Making affordable mortgages available to homeowners will enable them to quickly complete their homes and move in while amortizing the debt, says GEORGE WILLIAMS, an architect. He concludes that a serious drawback of homeownership however is the lack of mobility that tenancy affords workers in the federal civil service and the Armed Forces who experience regular redeployment. Public discourse on... Read more »