NMRC Receives Industry Award For Driving Housing And Mortgage Market Innovation

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The Nigeria Mortgage Refinance Company (NMRC) has received another industry recognition with an award for Housing and Mortgage Market Innovation.

The award was presented to NMRC at the concluding dinner for the 11th Abuja Housing Show which held at the International Conference Center, Abuja on Wednesday 19th July 2017.

The Nigerian Housing and Construction Industry Awards dinner, as the event is tagged cited the innovative and catalytic role that NMRC is playing in stimulating sustainable growth and development of the housing and mortgage market in Nigeria as key reason for the award.

They stated that NMRC’s leading role in the development of transparent standards and systems is helping to boost investor confidence in the housing sector and laying the foundation for a vibrant housing market.

Some of the initiatives they outlined include the introduction of uniform underwriting standards for processing mortgage loans, institutionalizing of mortgage and foreclosure laws to facilitate mortgage loan recovery and the mortgage market system which consolidates the fragmentation of the key systems and processes in the housing value chain together for greater cost and operational efficiency.

Speaking at the event the Managing Director of NMRC Prof. Charles Inyangete expressed gratitude for the recognition and pledged that under his leadership, NMRC will continue to drive strategic initiatives that are targeted at ensuring that more Nigerians have access to affordable houses.

“I appreciate the organizers of the Nigerian Housing Awards for recognizing the role that NMRC is playing in the development of the housing and mortgage market in the country.

At NMRC we are focused on ensuring that we build a strong and vibrant housing and mortgage market that investors will have confidence and that will also provide affordable housing to more Nigerians”.

Other award recipients include the Millard Muller Foundation, Sterling Bank Plc, Kwara State Housing Corporation and Ogun State Property and Investment Company amongst others.

The Nigeria Housing Awards recognize and celebrates housing stakeholders that contribute positively to the growth of the housing market.

About NMRC

NMRC is a private sector-driven mortgage refinance company established with the public purpose of providing liquidity and developing the primary and secondary mortgage markets through the raising of long term funds from the capital markets for refinancing Eligible Mortgage Loans of its member mortgage lending banks, with the goal of reducing the housing deficit in Nigeria through its refinancing activities.

NMRC was incorporated on 24th June 2013 and obtained its final license to operate as a non-deposit taking financial institution from the CBN on 18th February 2015.

Press Release. July 21, 2017