DESIGN AND IMPLEMENTATION OF A COMPUTER BASED INFORMATION SYSTEM FOR MORTGAGE FINANCING. A RESEARCH PROJECT MATERIAL ON COMPUTER SCIENCE
This project is aimed at designing and implementing a computer based information system for mortgage financing for Harvard trust Finance Enugu.
Specifically the study covered the activities of mortgage institution in mobilizing savings and giving the larger part of it to customers who wish to own thee own houses of Harvard Trust Finance Enugu. In a bid to successfully carry out the study, the researcher studied the existing system with a view to finding out its shortcomings. This attempt enabled the researcher to design and implement a computer based information system that mortgage financing that would, if well implemented help to highly up light the mortgage operation of the Harvard Trust Finance Enugu.
1.1 AN OVERVIEW OF THE STUDY.
The aim of a mortgage finance system is to provide the funds, which homebuyers need to purchase their homes. This simple description has spawned a broad ambry of institutional arrangements, ranging from contractual saving schemes as conceptualized under the National Housing policy vis-à-vis the National Housing fund (NHF) scheme, to depository institutions specializing in mortgage finance as we now have in primary mortgage institution (PMI), to the issuance, sale and trading of mortgage backed securities (MBS) the ultimate aim of the housing finance system. All of these arrangements are now being orated or evolved in this country with the same purpose in mind to channel funds from savers to borrowers in the question of private sector participation in the housing delivery system was opened up by the National Housing policy. The National a Housing Policy (NHP) was launched in 1991, mainly to create a conducive environment for a sustainable housing delivery system as well as to encourage private entrepreneurial imitative in housing development. The policy opens up a partnership between government and private sector in working towards an effective housing delivery system.
The emergence of privately owned PMTs followed the promulgation of the mortgage institutions decree No 53 of 1989, which provided the legal framework for the establishment of such institution. PMTs are expected to fulfill a purpose: to provide a safe and convenient means of saving for the general public, and to a limited intent for various corporate and unincorporated bodies and to use those finance to make loans on mortgages primary to those who wish to buy or build their own homes PMTs have been in the Nigeria financial system for almost a decade.
Housing finance which is the cent replace of the policy document, has a two tier arrangement with the federal Mortgage bank of Nigeria (FMBN) as the a pex-mortgage institution on one hand and the multiplication of primary mortgage institution (PMI) on the other hand. FNBN is charged with the responsibility of managing and administering the National Housing Fund (NHF), among others. The NHF has the objective of ensuring continuous flow of financial resources into housing development.