Category Archives: fmbn Feed Subscription

• ABUJA WORKERS GET 32bn MORTGAGE FROM FMBN

  3Invest Media February 17, 2014

  

  Mr Gimba Kumo, the Managing Director of the Federal Mortgage Bank of Nigeria (FMBN), speaking in an interview with the News Agency of Nigeria (NAN) in Lagos said that they had refinanced more than N32 billion mortgages for workers to buy houses in Abuja. According to him, the amount was invested to assist workers to buy the non-essential residential Federal... Read more »

• CBN bars NMRC from Real Estate Construction Financing

  3Invest Media February 2, 2014

  

  Exactly 15 days after President Goodluck Jonathan inaugurated the Nigeria Mortgage Re-finance Company Plc in a bid to tackle housing deficit, the Central Bank of Nigeria has barred the company from financing real estate construction and a number of activities. As a financial institution, the MRC will be under the regulation and supervision of the CBN. The CBN, in a 42-page regulatory... Read more »

• Fannie Mae, NMRC, FMBN | Similarities & Difference by 3INVESTONLINE

  3Invest Media January 20, 2014

  

  Mortgage Refinancing is a financial transaction in which a debtor can replace an existing residency debt obligation with another debt obligation under different terms. Residency debt obligation in this context refers to your initial mortgage loan. Some of the major reasons people refinance their mortgages are: To take advantage of a better interest rate. To consolidate other debts into one... Read more »