ASSESSMENT OF THE PERFORMANCE OF MORTGAGE INSTITUTION ON REAL ESTATE DEVELOPMENT

Housing remains a fundamental human necessity, playing a pivotal role in economic and social development. In Nigeria, the challenge of providing affordable housing is compounded by the inefficiencies within the housing finance sector, particularly in mortgage institutions. This study assesses the performance of the Federal Mortgage Bank Ado Ekiti in promoting real estate development within its jurisdiction. It explores the challenges faced by the bank, including bureaucratic inefficiencies, high interest rates, policy implementation discrepancies, and the limited access to affordable housing finance. The study employed both descriptive and quantitative research methods, surveying key stakeholders such as real estate developers, homebuyers, and government officials. Key findings reveal that while the bank plays a significant role in providing housing finance, it is hindered by operational inefficiencies, policy misalignment, and economic instability. These issues negatively affect loan disbursement processes and mortgage accessibility, limiting the bank’s capacity to reduce Nigeria’s significant housing deficit. Recommendations include policy reforms, enhanced stakeholder engagement, public-private partnerships, and capacity-building initiatives aimed at improving the operational efficiency of the bank and increasing access to affordable housing finance. The study concludes that addressing these challenges is essential for the Federal Mortgage Bank to effectively contribute to housing development in Nigeria.