MORTGAGE BANKING AND HOUSING POLICY IN NIGERIA
MORTGAGE BANKING AND HOUSING POLICY IN NIGERIA
TABLE OF CONTENT
Title Page i
Table of content vi
- Background of the study 1
- Statement of the Problem 1
- Research Question and Hypothesis 2
- Purpose of the Study 2
- Scope of the study 2
- Limitation of the study 3
- Significance of the Study 3
- Definition of terms 3
- Organization of the Study 4CHAPTER TWOLITERATURE REVIEW
2.1 Introduction 5
2.2 Review of related literature 6
2.3 Mortgage banking, the past, and the present and future 7
2.4 New housing finance Structure 7
2.5 The National Housing Policy 8
2.6 The Target of Housing for all by the year 2011 9
2.7 The National Housing Fund 9
2.8 Mortgage services marketing 10
2.9 Constraints of housing development 10
3.1 Research Design 12
3.2 Area of the Study 12
3.3 Population of the Study 12
3.4 Sample and Sampling Procedure 12
3.5 Instrument of Data collection 12
3.6 Method of Data Collection 13
3.7 Method of Data Analysis 13
3.8 Test of Validity and Reliability of Instrument 14
DATA ANALYSIS AND INTERPRETATION
4.1 Presentation and Analysis of Data using Research Question 15
4.2 Presentation and Analysis of Data According to Hypothesis 17
4.3 Testing of Hypothesis 18
SUMMARY CONCLUSION AND RECOMMENDATION
5.1 Summary 21
5.2 Conclusion 21
5.3 Recommendation 22
5.4 Suggestion for further studies 22
1.1 Background of the study
The Federal mortgage finance limited incorporated July 1993 under. It is fully owned by the Federal Government of Nigeria established to provide credible and responsive housing finance service that will facilitate housing delivery to all segments of the Nigeria Society.
The establishment of the company informed by Federal Government recognition of the imperatives to direct the old Federal Mortgage Bank of Nigeria of its retail banking and mortgage operations so that Federal Mortgage Bank of Nigeria could concentrative on its rightful role as the nations apex mortgage lending.
Today federal mortgage finance limited has opened branches in all the state headquarters including Abuja Federal Capital territory, with many saving centers in urban commercial locations with a solid financial and assets base, on unrivalled nations wide branch network or 54 operational outlets and 654 experienced, dynamic and highly competent work force, the company is passed to offer efficient, effective and reliable service that are unequalled in the housing finance sub-sector of the economy.
1.2 Statement of the problem
This research work will treat the topic mortgage banking and housing policy in Nigeria.
Furthermore, the problem confronting the mortgage institution in granting loan to people which will assist them either to buy, build or improve their house.
A great change has been brought to the operation of mortgage financial institution in Nigeria Housing as we all know is one of the basic needs of mankind and it is the most important for the physical survival of man after the provision of food. Decent housing is one of the basic needs of every individual, the family and the community in general.
As a pre-requisite to the survival of man, it ranks second only to food. It is also one of the best indicators of a person standard of living and his place in the society; the housing an individual lives in is a symbol of his status on measure of achievement and social acceptance an expression of his personality.
In Nigeria, there is a shortage of adequate housing facilities. Lagos for instance has an average of 3.8 persons per room, and extreme density ranging between 5 to over 7 persons per room. More houses are needed to relieve the existing overcrowding in many Nigeria urban centre’s.
1.3 Research Questions and Hypothesis
An hypothesis is a provisional statement given to guide an investigation. t is a set of testable statement yet to be empirically verified.
This research work has data collected through organizational interviews, extraction from financial journals, textbooks and questionnaire.
1.4 Purpose of the Study
The primary objective of this research work is to know everything concerning federal mortgage banking and housing policy in Nigeria.
- Assess the level of change that has been brought to the operations of mortgage financial institution.
- The highlight the impact that provision of loans by mortgage institution has no the number of houses built by individuals and corporate organization.
iii. To investigate how the mortgage institutions has helped in providing loan to ameliorate the suffering of the masses through national housing find.
- It is also the aim of the research to state the roles of mortgage institution and ensure the implementation of the national housing policy, not only that the research work will suggest possible solutions to various problem encountered by the mortgage institutions.