Mr Kehinde Ogundimu is the Managing Director, Nigeria Mortgage Refinance Company. He tells MAUREEN IHUA-MADUENYI that affordability is still a major hindrance to housing provision in the country, among other issuesBetween 2013 and now, there have been a lot of initiatives in the mortgage sector including the establishment of the Nigeria Mortgage Refinance Company. The Nigerian Mortgage Refinance Company has had many transformational impacts on the Nigerian mortgage sector. Since inception, the NMRC has refinanced eligible mortgage loans of four commercial banks and eight primary mortgage banks. The MMFL, when adopted, will help in simplifying the procedure for mortgage registration and providing a statutory mortgage form, which, if filled and registered, is sufficient to create a legal mortgage rather than having large volume-agreements.

Source: Punch February 02, 2020 01:33 UTC