A real estate conferenceÂ to discuss how to develop and sustain foreign investor confidence for Nigerian mortgages, and expand the mortgage industry is to hold in Lagos on August 18 and 19.
Experts in mortgage and banking from Nigeria and the USA will focus on how to build a solid secondary mortgage market to attract foreign institutional investors.
â€œIt is critical for Nigeria to have a secondary mortgage market operator or a Mortgage Liquidity Facilityâ€, says Adonye Chamberlain, a real estate broker from the United States, who is one of the speakers at the conference. He explained that the biggest obstacles facing the Nigerian mortgage industry are high interest rates and access to liquidity.Â The solution, he says, is a secondary mortgage platform that can create the necessary liquidity through bond issuance and in the long run, mortgage-backed securities.
â€œTo attract foreign investors, the foundation has to be laid.Â We also need the right technology.â€Â He added.
The conference, he says, will discuss the practical technology to best assist both the secondary and primary mortgage operators share real-time information, and take prompt decisions on loan applications and pricing.Â Guest speakers include Rick Roque, of Lenderfield Technologies, and Edward Nwokedi of Cushman & Wakefield, USA who will be leveraging their access to foreign institutional investors eager to invest in the Nigerian real estate industry, even in the midst of the current global financial crisis. Organised by Lagos Business School in partnership with Bonview Consulting, the conference will be held at the Pan-African University Conference Centre from 9.00 a.m. to 5.00 p.m each day.