Search results for : mortgage loans

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News Article

February 02, 2011
Mortgage loans: 20 in arrears

By NEIL HARTNELL

Tribune Business Editor

The value of mortgage loan arrears and non-performing home loans in the Bahamas have both more than doubled in percentage terms over a five-year period, data obtained by Tribune Business shows, with more than 20 per cent of the almost $3 billion worth of mortgages now in default.

Some 20.71 per cent of that $2.984 billion sum lent in mortgage loans...

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News Article

November 26, 2012
Car Loans Can Kill Mortgage Dreams

High interest consumer loans have become a way of life in The Bahamas. Direct payroll deduction loans and car loans are far more common than home mortgage loans and are more than double the interest rate.

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News Article

March 27, 2018
PM Minnis opens new BMC housing Subdivision as part of" New Urban Development" Plan

The Queen’s Park Urban Redevelopment Project is an initiative of The Bahamas Mortgage Corporation (BMC). Prime Minister Minnis applauded the Board of Directors, Management and staff of the BMC for “assisting thousands of Bahamians to realize their dream of home ownership” over the years...

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News Article

June 09, 2017
Ferreira: BMC arrears at 42 percent

Minister of Environment and Housing Romauld Ferreira said Hurricane Joaquin and Hurricane Matthew are partially to blame for mortgage loan arrears at the Bahamas Mortgage Corporation (BMC) remaining at 42 percent for the previous fiscal period.
In his contribution to the 2017/2018 budget debate on Thursday, Ferreira said, "Bahamians throughout the length and breadth of the Commonwealth of The Baha...

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News Article

March 15, 2017
'State and quality' of Mortgage Corp.'s financials stump auditor

The Bahamas Mortgage Corporation's (BMC) report for the financial year ending June 2012 reveals that the corporation did not have "sufficient" and "appropriate" evidence to support the balances and transactions that accompanied its financial statements. The corporation recorded that total mortgages were over $160 million as of June 2012.
BMC's auditor, Beneby & Company, completed the report on Apr...

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News Article

January 11, 2017
Komolafe: Prime rate reduction could penalize investors, savers

Chairman of the Bahamas Insurance Association (BIA) Emmanuel Komolafe pointed out that the recent reduction in the prime rate from 4.75 percent to 4.25 percent could penalize investors and savers while favoring new and existing borrowers.
Komolafe explained that, due to the exchange control regime, companies operating from within The Bahamas, and in particular local companies, are restricted in th...

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News Article

November 30, 2016
Nassau's Air Arrivals Off 16.5% in October

Visitor arrivals through Lynden Pindling International Airport (LPIA) were slightly ahead of last year for the first 10 months of 2016, despite a 16.5 per cent October drop-off due to Hurricane Matthew.

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News Article

October 17, 2016
NEMA 'strengthening systems' to bring help to Bahamians

THE National Emergency Management Agency (NEMA) says it is strengthening its organisational structure and systems to effectively bring about assistance to Bahamians impacted by Hurricane Matthew in its latest progress report.

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News Article

October 17, 2016
NEMA intensifies assessment of damage caused by Hurricane Matthew

In the wake of the powerful Hurricane Matthew, the National Emergency Management Agency (NEMA) is strengthening its organizational structure and systems so as to effectively bring about assistance to Bahamians impacted by the storm.

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News Article
NEMA intensifies assessment of damage caused by Hurricane Matthew Massive cleanup underway Utilities being restored
October 16, 2016
NEMA intensifies assessment of damage caused by Hurricane Matthew; Massive cleanup underway; Utilities being restored

In the wake of the powerful Hurricane Matthew, the National Emergency Management Agency is strengthening its organizational structure and systems so as to effectively bring about assistance to Bahamians impacted by the storm.

This is being done through a three-tier system, which is being organized to include ground assessors, zone or district coordinators, technical and social services teams.

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