The Nigeria Mortgage Refinance Company (NMRC), a Central Bank of Nigeria (CBN)-licensed mortgage liquidity facility with the core mandate of developing the primary and secondary mortgage markets has so far, deployed over N30 Billion to refinance mortgage portfolios of commercial and mortgage banks.
This is in line with the company’s mandate to promote affordable home ownership in the country by leveraging funding from the capital market to deepen liquidity in the primary and secondary mortgage markets.
NMRC refinances mortgage loan portfolios of its member primary mortgage lending and commercial banks that comply with its uniform underwriting standards.
Speaking on the development, the Managing Director/Chief Executive Officer of NMRC, Mr. Kehinde Ogundimu stated that the company is working hard to further boost its refinancing operations.
According to him, the company has successfully tackled the liquidity challenge in Nigeria’s housing market by forging a profitable link between the debt capital market and the financial market.
“We have access to unlimited funds to ensure that mortgage lending institutions in Nigeria can refinance 15 to 20-year home loans that meet our strict uniform underwriting standards”, he added.
NMRC is promoting affordable home ownership in Nigeria by raising long- term funds from the capital market.
