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  • About Us

    Who We Are

    Our objective is to bring Nigerians Affordable Housing.

    Board Members

    Meet Our Board Members

    Ownership Structure

    NMRC has =N=13.19 Billion Tier 1 Capital

  • Our business
    Steps to Access Mortgage
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    How Mortgage Refinance Works
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    Our Business
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    NMRC Mortgage Digest 21st Edition: January 2023
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     NMRC Mortgage Digest 21st Edition: January 2023
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     NMRC Mortgage Digest 20th Edition: June 2022
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Our objectives is to bring Nigerians Affordable Housing

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About Us

ADVOCACY
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REFINANCING
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STANDARDIZATION
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Welcome,

The Nigeria Mortgage Refinance Company (NMRC) was licensed on February 18, 2015 to promote delivery of affordable housing to Nigerians.

Our key role is mortgage refinancing. We do this by raising long-term funds from the capital market to refinance conforming mortgage portfolios of mortgage and commercial banks in Nigeria.

We are committed to keeping the public and stakeholders regularly updated about our strides and the modest progress that we are making in building a modern housing finance for Nigeria in collaboration with other housing stakeholders.

Thank you.

Mr Kehinde Ogundimu

M.D CEO, NMRC

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Our Key Role Is Mortgage Refinancing, which we do by Raising Funds from the Capital Market for the Mortgage Industry in Nigeria

The Nigeria Mortgage Refinance Company (NMRC) is a private sector-driven mortgage refinancing company with the public purpose of promoting home ownership for Nigerians while deepening the primary and secondary mortgage markets. NMRC was incorporated on 24th June 2013 and obtained its final operating license from the Central Bank of Nigeria on 18th February 2015.

Our vision is to be the dominant housing partner in Nigeria and our mission is to break down barriers to home ownership by providing liquidity, affordability, accessibility and stability to the housing market in Nigeria.

NMRC raises long term funds from the capital market, to enhance access to affordable housing finance in Nigeria. In July 2015 NMRC successfully issued a 15-year N8 billion Series 1 Bond under its N140 billion medium term Note Programme, backed by an unconditional Federal Government of Nigeria guarantee. In June 2018, NMRC again successfully raised N11billion from the capital market through a Series II bond issue. These funds have been deployed to the refinancing of the mortgage portfolio of NMRC member Primary Mortgage Banks (PMBs).

Breaking down the barrier of home ownership

  • Our Vision

To be the dominant housing partner in Nigeria

  • Our Mission

To remove barriers to home ownership, provide liquidity, affordability, accessibility and stability to the housing market in Nigeria.

  • Core Values

Leadership | Integrity | Innovation | Partnership |

NMRC BUSINESS

IMPLEMENTATION PHASES

Phase 1 (Year 1) Preparatory activities to commence operations

Phase 2 (Year 2 – 3) Refinance mortgages with recourse only (mortgages
that comply with set standards)

Phase 3 (Year 4 – 5) Purchase/refinance only mortgages that comply with set standards

Phase 4 (Year 5 onwards) Purchase mortgage loans without recourse

PHASE 1

• Preparatory activities to commence operations
• Recruitment and office organisation
• Commence marketing
• Establish Uniform Underwriting Standards
• Undertake technical activities for risk management

PHASE 1
PHASE 2

• Refinance mortgages with recourse only (mortgages that comply with set standards)
• Issue corporate bonds with FGN Guarantee
• Continue working on setting mortgage standards

PHASE 2
PHASE 3

• Purchase/refinance only mortgages that comply with set standards
• Issue corporate bonds without guarantee
• Continue working on setting standards for mortgage lending and spearheading legal reforms

PHASE 3
PHASE 4

• Purchase mortgage loans without recourse
• Securitise mortgages from its portfolio and/or on behalf of its client mortgage originators
• Continue purchase with recourse scheme
• Continue developmental activities

PHASE 4

EVOLUTION OF NMRC

Easy steps on how to access mortgage

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Contact Details

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Lagos Office

17 Sanusi Fafunwa, Victoria Island, Lagos.
+234 91-3-957-6829
+234 91-3-957-6830

info@nmrc.com.ng

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BLOCKCHAIN-POWERED SYSTEM FOR RELIABLE LAND TITLING

NMRC has also tapped blockchain technology’s capacity for tamper-proof record keeping, to build a robust national asset registry system for driving real estate transactions.
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