FMBN/EMC/127/CRC/2017/0342

CREDIT & RISK COMMITTEE

EMC PAPER JUNE 21, 2017

REQUEST FOR APPROVAL OF PRIMARY MORTGAGE BANKS’ NHF LOANS

APPLICATIONS (NON FUNDED).

The following Primary Mortgage Banks vide their applications, requested for loan facility
for NHF beneficiaries/Contributors under various loan applications. The subject
applications have been appraised and the recommendations are stated below:

FMBN FUNDED
S/N NHF LOAN NAME OF NO.OF AMOUNT REMARK
DETAILS DEVELOPER/ BENEFICIARIES RECOMMENDED
ESTATE NAME N
1 FHA Homes Developer: 2 21,000,000.00 1. Legal search
Limited. Corporate on the root title is
Batch 32 Worldwide favourable and
and
good for
FABs CAP Investment.
Mortgage
No: 6628

Estate Name: 2. Affordability

Princeton Villa test conducted
Estate, Wumba, for the
Abuja. applicants, two
(2) were dropped
and one (1)
confirmed
satisfactory
3. Properties are
confirmed
available by the
Loans and
Mortgage Group
4.
Recommended
to EMC for

1
 further
consideration.
2 FHA Homes Developer: 3 31,500,000.00 1. Legal search
Limited. Corporate on the root title is
Batch 36 Worldwide favourable and
and
good for
FABs CAP Investment.
Mortgage
No: 6627

Estate Name: 2. Affordability

Princeton Villa test conducted
Estate, Wumba, for the
Abuja. applicants, one
(1) applicant was
dropped and
others are
confirmed
satisfactory.
3. Properties are
confirmed
available by the
Loans and
Mortgage Group

4.Recommended
to EMC for
further
consideration
3 FHA Homes Developer: 10 92,000,000.00 1. Legal search
Limited. on the root title is
Batch 40 Corporate favourable and
Worldwide
good for
FABs CAP and
Investment. Mortgage.
No: 6630
2. Affordability
test conducted is
Estate Name: satisfactory.
Princeton Villa 3. Properties are
Estate, Wumba, confirmed
Abuja. available by
Loans &
Mortgage Group.
4.Recommended
to EMC for

2
 further
consideration

4 Mutual Developer: 1 12,800,000.00 1. Legal search

Alliance on the root title is
Mortgage Brains and favourable and
Hammers Ltd
Bank Ltd good for
Mortgage.
Batch 191. 2. Affordability
Estate Name:
test conducted is
Brains and
FABS CAP satisfactory.
Hammers
No. 5626 3. Property was
Galadimawa,
confirmed
Abuja
available by
Loans &
Mortgage Group.
4.Recommended
to EMC for
further
consideration
subject to
provision of
evidence of
payment of
personal stake.
5 City Code Estate Name: 6 84,200,000.00 1. Legal search
Mortgage Michel Estate, on the root title is
Bank. Lagos favourable and
good for
Batch 80A.
Mortgage.
FABS Cap 2. Affordability
No. 4553 test conducted is
satisfactory.
3. Properties are
confirmed
available by

3
 Loans &
Mortgage Group.
4.Recommended
to EMC for
further
consideration

6 City Code Estate Name: 6 87,500,000.00 1. Legal search

Mortgage Michel Estate, on the root title is
Bank. Lagos favourable and
good for
Batch 78.
Mortgage.
FABS Cap 2. Affordability
No. 4554 test conducted is
satisfactory.
3. Properties are
confirmed
available by
Loans &
Mortgage Group.
4.Recommended
to EMC for
further
consideration
7 City Code Estate Name: 5 75,000,000.00 1. Legal search
Mortgage Michel Estate, on the root title is
Bank. Lagos favourable and
good for
Batch 81.
Mortgage.
FABS Cap 2. Affordability
No. 4555 test conducted is
satisfactory.
3. Properties are
confirmed
available by
Loans &
Mortgage Group.
4.Recommended
to EMC for

4
 further
consideration

8 City Code Estate Name: 1 15,000,000.00 1. Legal search

Mortgage Michel Estate, on the root title is
Bank. Lagos favourable and
good for
Batch 79A.
Mortgage.
FABS Cap 2. Affordability
No. 4552 test conducted is
satisfactory.
3. Properties are
confirmed
available by
Loans &
Mortgage Group.
4.Recommended
to EMC for
further
consideration
9 City Code Estate Name: 4 51,200,000.00 1. Legal search
Mortgage Golden Park on the root title is
Bank. Estate, Lagos favourable and
good for
Batch 100.
Mortgage.
FABS Cap 2. Affordability
No. 4605 test conducted is
satisfactory.
3. Properties are
confirmed
available by
Loans &
Mortgage Group.
4.Recommended
to EMC for

5
 further
consideration

10 City Code Estate Name: 8 115,000,000.00 1. Legal search

Mortgage Golden Park on the root title is
Bank. Estate, Lagos favourable and
good for
Batch 102.
Mortgage.
FABS Cap 2. Affordability
No. 4604 test conducted is
satisfactory.
3. Properties are
confirmed
available by
Loans &
Mortgage Group.
4.Recommended
to EMC for
further
consideration
11 Mutual Estate Name: 1 5,100,000.00 1. Legal search
Alliance Open on the root title is
Mortgage Freedom favourable and
Estate, Kuje,
Bank Ltd good for
Abuja.
Mortgage.
Batch 193. 2. Affordability
test conducted is
FABS CAP satisfactory.
No. 5612 3. Properties are
confirmed
available by
Loans &
Mortgage Group.
4.Recommended
to EMC for

6
 further
consideration

12 Mutual Estate Name: 6 10,571,600.00 1. Legal search

Alliance National on the root title is
Mortgage Metallurgical favourable and
Dev. Centre,
Bank Ltd good for
Jos.
Mortgage.
Batch 128. 2. Affordability
test conducted is
FABS CAP satisfactory.
No. 4578 3. Properties are
confirmed
available by
Loans &
Mortgage Group.
4.Recommended
to EMC for
further
consideration
13 Mutual Estate Name: 1 6,300,000.00 1. Legal search
Alliance Jedo Estate, on the root title is
Mortgage Abuja. favourable and
Bank Ltd good for
Mortgage.
Batch 139. 2. Affordability
test conducted is
FABS CAP satisfactory.
No. 3450 3. Properties are
confirmed
available by
Loans &
Mortgage Group.
4.Recommended
to EMC for

7
 further
consideration

14 Mutual Estate Name: 1 15,000,000.00 1. Legal search

Alliance Al Gamji on the root title is
Mortgage Estate, Abuja. favourable and
Bank Ltd good for
Mortgage.
Batch 33. 2. Affordability
test conducted is
FABS CAP satisfactory.
No. 2174 3. Properties are
confirmed
available by
Loans &
Mortgage Group.
4.Recommended
to EMC for
further
consideration
15 Mutual Estate Name: 1 12,196,000.00 1. Legal search
Alliance Naf Valley on the root title is
Mortgage Estate, favourable and
Asokoro,
Bank Ltd good for
Abuja.
Mortgage.
Batch 127. 2. Affordability
test conducted is
FABS CAP satisfactory.
No. 5624 3. Properties are
confirmed
available by
Loans &
Mortgage Group.
4.Recommended
to EMC for

8
 further
consideration

16 Mutual Estate Name: 1 5,440,000.00 1. Legal search

Alliance Treasure on the root title is
Mortgage Homes, favourable and
Kuduru, Niger
Bank Ltd good for
State.
Mortgage.
Batch 119A. 2. Affordability
test conducted is
FABS CAP satisfactory.
No. 5627 3. Properties are
confirmed
available by
Loans &
Mortgage Group.
4.Recommended
to EMC for
further
consideration
17 Trustbond Estate Name: 10 108,208,400.00 1. Legal search
Mortgage Naf Valley on the root title is
Bank plc Estate, favourable and
Asokoro,
good for
Abuja.
Batch 168. Mortgage.
2. Affordability
FABS CAP test conducted is
No. 2370 satisfactory.
3. Properties are
confirmed
available by
Loans &
Mortgage Group.
4.Recommended
to EMC for

9
 further
consideration

18 Trustbond Estate Name: 1 8,500,000.00 1. Legal search

Mortgage Design Logic on the root title is
Bank plc Apartment, favourable and
Karmo, Abuja.
good for
Batch 172A. Mortgage.
2. Affordability
FABS CAP test conducted is
No. 5620 satisfactory.
3. Properties are
confirmed
available by
Loans &
Mortgage Group.
4.Recommended
to EMC for
further
consideration
19 Trustbond Estate Name: 10 94,536,000.00 1. Legal search
Mortgage Design Logic on the root title is
Bank plc Apartment, favourable and
Karmo, Abuja.
good for
Batch 195. Mortgage.
2. Affordability
FABS CAP test conducted is
No. 5621 satisfactory.
3. Properties are
confirmed
available by
Loans &
Mortgage Group.
4.Recommended
to EMC for

10
 further
consideration

20 Trustbond Estate Name: 6 46,145,000.00 1. Legal search

Mortgage Design Logic on the root title is
Bank plc Apartment, favourable and
Karmo, Abuja.
good for
Batch 215. Mortgage.
2. Affordability
FABS CAP test conducted is
No. 4602 satisfactory.
3. Properties are
confirmed
available by
Loans &
Mortgage Group.
4.Recommended
to EMC for
further
consideration
21 Trustbond Estate Name: 1 5,000,000.00 1. Legal search
Mortgage FHA, Lugbe, on the root title is
Bank plc Abuja. favourable and
good for
Batch 220. Mortgage.
2. Affordability
FABS CAP test conducted is
No. 6632 satisfactory.
3. Properties are
confirmed
available by
Loans &
Mortgage Group.
4.Recommended
to EMC for

11
 further
consideration
TOTAL 85

PRAYER

The Executive Management Committee (EMC) is hereby requested to consider and

recommend for approval, the sum of N167,600,000.00 (One Hundred and Sixty Seven
Million, Six Hundred Thousand, Naira Only) to the above Primary Mortgage Banks to
enable the Eighty Five (85) applicants purchase housing units in the non funded
estates.

Thank you.

...............................................................

KABIR ADENIYI YAGBOYAJU

CHAIRPERSON, CREDIT & RISK COMMITTEE

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