EFFECT OF LAND TITLE REGISTRATION PROCESSING ON MORTGAGE FINANCING IN AKURE, ONDO STATE, NIGERIA.

Abstract This study focused on examining the effect of land title registration processing on mortgage financing in Akure, Ondo State, Nigeria. Guided by four objectives, the research identified the procedural and documentary requirements for land registration, evaluated stakeholder satisfaction with the process’s effectiveness, analyzed prevailing challenges, and assessed its influence on mortgage access. A total of sixty-one questionnaires were administered to estate surveying and valuation firms, the deed registrar, and other officials of the deed registry, with forty-six (46) retrieved, amounting to a 75.4% retrieval rate. The retrieved questionnaires were analyzed using frequency distribution tables, weighted mean scores, and factor analysis. The results showed that the land title registration process in Akure follows a generally standardized structure at the initial, middle and final stages, with all instrument types requiring the submission of an application form and supporting documents, and concluding with registration by the Deed Registrar and collection by the applicant. Findings also revealed that selective requirements such as site inspections, newspaper advertisements, and endorsements by specific authorities (e.g., Governor, Commissioner) vary depending on the instrument type, indicating that the system is tailored to the legal and administrative complexity of each title. The majority of respondents (66.7%) affirmed that land registration has a very high impact on the confidence of financial institutions, with another 22.2% noting a high impact. The factor analysis revealed two major components of challenges of land registration processing in the study area to be Institutional and Systemic Challenges and Capacity and Operational Challenges that accounting for 77.011% and 6.611% of the variance explained, respectively. The study recommended enforcing anti-corruption policies, training staff on ethics and service delivery, and establishing an independent land registration oversight committee to audit transactions and procedures regularly.