NIGERIA MORTGAGE REFINANCE COMPANY

NMRC is a private sector-driven company with the public purpose of developing the primary and secondary mortgage markets in Nigeria. It was established to bridge the funding gap for residential mortgages and promote the availability and affordability of housing by providing mortgage lending institutions with access to long-term finance. The company raises long-term funds from the capital market through bond issuances and uses these funds to refinance eligible mortgage portfolios of primary mortgage lenders, thereby increasing their capacity to originate new mortgages for Nigerian homebuyers.