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Only 1.5% NHF contributors get mortgage loans —FMBN

Out of the four million registered contributors to the National Housing Fund, only 60,000 or 1.5 per cent of the total have been able to access mortgage loans, the Federal… Read more »

United Mortgage Bank, Spring Mortgage plan merger

United Mortgage Bank Limited says its plan to merge with Spring Mortgage Plc is already at an advanced stage and may be completed any time soon. The Managing Director and… Read more »

NDIC to increase mortgage bank customers’ deposit cover

The Nigeria Deposit Insurance Corporation on Monday unveiled plans to increase the deposit insurance coverage for customers of Primary Mortgage Banks operating in the country. The Managing Director/Chief Executive, NDIC,… Read more »

66,402 Applicants Subscribe to New Mortgage Refinancing Scheme

No fewer than 66,402 applications have been filed for pre-qualification since August 2 when the federal government jump-started the new mortgage refinancing system for an initial 10,000 mass housing delivery… Read more »

Morgan Stanley to Pay $275 Million in Mortgage Bond Settlement

Money Will Be Returned to Investors Who Were Harmed Moody’s Investors Service raised its outlook on Morgan Stanley MS +0.15% from stable to positive, saying the firm continues to make… Read more »

Citigroup may pay $7 billion to resolve U.S. mortgage probes: source

  Citigroup Inc is close to paying about $7 billion to resolve a U.S. probe into whether it defrauded investors on billions of dollars worth of mortgage securities in the… Read more »

Citigroup to pay $1.13B to settle mortgage claims

Citigroup says it has agreed to pay $1.13 billion to settle claims by investors seeking that the lender buy back billions in residential mortgage-backed securities. The New York-based investment bank… Read more »

Bank of America to pay $9.3 billion to settle mortgage bond claims

Bank of America agreed to pay $9.3 billion to settle claims that it sold Fannie Mae and Freddie Mac faulty mortgage bonds, helping the bank to end one of the… Read more »

Mortgage refinance company to get $250m IDA grant

The Minister of Finance, Dr. Ngozi Okonjo-Iweala, on Monday said that the Nigerian Mortgage Refinancing Company had met the World Bank condition for the drawdown of $250m (N40bn) International Development… Read more »

Nigeria needs 2.0 trillion Naira to Address its Mortgage Problem-Chike-Obi

By Peter OBIORA InvestAdvocate Lagos INVESTADVOCATE)- Mustafa Chike Obi, the managing director asset management corporation of Nigeria (AMCON) Tuesday said Nigeria needs about 2 trillion naira to address its mortgage… Read more »

 

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