Tag Archives: mortgage

The Guardian reports that fresh efforts are underway to seek pragmatic and contemporary solutions to the challenges in the mortgage sub-sector, following plans by the operators to extend loss of job insurance scheme, which will cover mortgage default up to a year. The scheme is already in place and covers up to six months. Mortgage insurance, which is widely used in other countries and is compulsory ...

“Nigeria’s mortgage lenders are buckling under the weight of unpaid loans as job losses and inflation, which are at a near record-high, hinder the ability of customers to settle their debts.”- Business Day “They are just struggling to survive,” Adeniyi Akinlusi, president of the Mortgage Banking Association of Nigeria, said in an interview in Lagos, the commercial capital. “A lot ...

“Mallam Ibrahim Aliyu is the chairman of Urban Shelter Limited and former managing director of Nigeria Industrial Development Bank now Bank of Industry. In this interview with CHIKA OKEKE, he regretted that 60 per cent of Nigeria’s housing stock was imported saying that over 70 per cent of workers rent houses. Many PMIs have been enmeshed in alleged corrupt practices ...

The Nation reports that the Nigerian Immigration Service, (NIS) in collaboration with the Federal Mortgage Bank, has secured a housing loan facility for 60 officers and men of the service. The facility is worth N60 million. Comptroller General, (CG) of NIS, Muhammad Babandede, disclosed this at the official presentation of a dummy cheque to beneficiaries. Babandede said the development is ...

The Guardian reports that after a major agreement with Kaduna Government to promote mortgage penetration and home ownership recently, the Nigerian Mortgage Refinance Company (NMRC) has again entered into another deal with estate developers. The agreement with the Real Estate Development Association of Nigeria (REDAN) is meant to boost research, advocacy and housing finance in the housing sector. The deal ...

Leadership reports that the Federal Mortgage Bank of Nigeria (FMBN) has disbursed about N32million to 383 eligible personnel of the Nigerian Army, contributing to the National Housing Fund (NHF) in the last three years adding that Contributors’ Statement of Account were up to date. The Apapa District Coordinator of the bank, Mrs. Uche Okoli stated this in Lagos when the ...

Reverse Mortgage Daily reports that the newly formed Finance of America Commercial will continue to serve real estate investors and operate alongside the holding company’s other lending arms, including Finance of America Reverse of Tulsa, Okla. and Finance of America Mortgage of Horsham, Pa. Sara Sefcovic, a spokesperson for Finance of America Holdings, said the company plans to foster overlap ...

As at my last count, I realized we have over 50 development companies, trying to market over hundred projects within the Lagos, Ogun and Abuja axis. I stopped counting a long while ago, so you can imagine how much more we would have now. Until recently, when publication houses increased their advert rates, you would always see different advert publications ...

Operatives in the Nigerian Mortgage sector have called on the federal authorities to further create an enabling environment for mortgage banking through the provision of an intervention fund. The Guardian reports that the Mortgage Banking Association of Nigeria (MBAN) is also seeking the review of the stringent regulatory condition, which to some extent has prevented mortgage finance inclusion such as robust operational guidelines ...

What does it take to make a smart real estate purchase? So many people make the mistake of sealing a real estate purchase or deal without weighing the pros and cons just because the deal appears to be juicy. This article dishes out 5 worthy tips to bear in mind before finalizing that life-changing deal. Real estate scam is a ...