NMRC refinances N10bn mortgages for PMIs

Borrowers have about 20 years as repayment period for mortgage loans In its drive to increase homeownership among the citizens, the Nigeria Mortgage Refinance Company (NMRC) has spent N10 billion raised from the capital market to refinance mortgages for primary mortgage institutions (PMIs), New Telegraph has learnt. It was gathered that while the company refinanced mortgages to the tune of N8.2 billion in 2016, it spent N1.8 billion on the same purpose in 2015. Some of the beneficiaries – primary lenders from the mortgage refinancing loans in 2016 included Imperial…

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NMRC, developers laud Nigeria’s House Price Index

The Nigerian Mortgage Refinance Company (NMRC) and developers of Lekki Gardens have thrown their weight behind the takeoff of Roland Igbinoba House Price Index (RI), the first in the country. Executive Director of NMRC, Mr.Kehinde Ogundimu, who represented his managing director, gave insight into the usefulness of a house price index in Lagos. He pointed out that absence of useful data had been a major challenge to government, home seekers and investors in the drive to make decision about housing market. He lauded President of Pison Housing Company, Mr Roland…

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