The
NMRC
The
NMRC is a private sector driven company with the public purpose of
developing the primary and secondary mortgage markets by raising
long-term funds from the domestic capital market as well as foreign
markets and thereby provide accessible and affordable housing in
Nigeria. NMRC was incorporated on 24th of June 2013 as Nigeria Mortgage
Refinance Company Plc. It obtained an Approval-in-Principle from the CBN
on 20th June 2013.VISION
To encourage and promote home ownership in Nigeria by providing financial facilities to the mortgage lenders, thereby increasing the availability and affordability of mortgage loans to Nigerians.
BUSINESS STRATEGIES
- To encourage financial institutions to increase their mortgage lending by providing them with long term funding;
- To increase the maturity structure of mortgage loans and assist to reduce mortgage rates;
- To increase the efficiency of mortgage lending by taking a lead role in proposing changes to the enabling environment for mortgage lending as well as by standardising mortgage lending practices of financial institutions; and
- To introduce a new class of high quality long-term assets to the
pension funds and other investors It is intended that these objectives
will be executed in phases in order to enable the NMRC operate as
efficiently as possible in the Nigerian environment and lay the
foundations for supporting other key sectors of the economy.
No comments:
Post a Comment