The proposed Mortgage Refinance Company (MRC) being promoted by the Federal Government to address the acute housing problem in the country, is billed for launch in the first quarter of 2014. Initially planned to kick off in November 2013, the federal government is said to have decided to shift the […]
Mortgages
Bank of America’s Merrill to pay $132 million in SEC case over mortgages
Bank of America Corp (BAC.N) has agreed to pay $131.8 million to settle U.S. Securities and Exchange Commission charges that its Merrill Lynch unit misled investors about mortgage securities it structured and sold. Thursday’s settlement marks the latest enforcement action against Wall Street banks over the marketing of collateralized debt […]
45 mortgage banks may not survive recapitalisation- MBAN
Indications have emerged that only 25 Primary Mortgage Institutions out of over 70 firms may survive the April recapitalisation deadline set by the Central Bank of Nigeria for the mortgage sector. The President, Mortgage Banking Association, Mr. Abimbola Olayinka, said at a press conference in Lagos on Monday that merger […]
