Design And Implementation Of A Computer Based Information System For Mortgage Financing

Computer Science Project Material with Source Code Included

Abstract

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.

Table of Constant

Title page
Abstract
Table of content

Chapter One

1.0 Introduction

1.1 Historical background of the study
1.2 Statement of problem
1.3 Aims and objectives of the study
1.4 Significance of the study
1.5 Scope of the study
1.6 Limitation
1.7 Definition of terms

Chapter Two

Literature review

Chapter Three

3.0 Analysis of the Existing System

3.1 Method of data collection
3.2 Objective of the existing system
3.3 Problems of the existing system
3.4 Input, process and output analysis
3.5 Information flow chart
3.6 The justification for the new system

Chapter Four

4.0 Planning and Designing

4.1 Input specification
4.2 Output specification
4.3 Software specification

Chapter Five

5.0 Implementation

5.1 Program design
5.2 Program flowchart
5.3 Sources program
5.4 Test run

Chapter Six

6.0 Documentation

Chapter Seven

7.0 Conclusion and Recommendation

7.1 Conclusion
7.2 Recommendation
Reference

Chapter One

1.0 Introduction

1.1 An Overview of the Study.

The aim of a mortgage finance system is to provide the funds, which home buyers 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.

The FMBN was established by decree No 7 of 1977. The main function of the FMBN includes provision of the banking and advisory services and research activities pertaining to housing decree 3 of JAN 1991 empowered FMBN to license and regulate mortgage institution in Nigeria.

1.2 Statements of Problems

The problems, which necessitated the study in the Harvard Trust Finance Enugu, are as follows:

Slowness in accomplishing task generally
The frequent collapse of mortgage banks, in the country through fraudulent malpractices by the staff.
The incessant delays in the payment and processing of customer fund in theand processing of customer fund in the Harvard trust finance Enugu.

1.3 Aims and Objective of the Study

The major aim of this study is to design and implement a computer based information for system for mortgage financing that will accomplish the task of quick retrieval of information on a mortgage’s records in Harvard trust finance. This also involves knowing what operations are carried out and how they are done.

1.4 Significance of the Study

The study will ensure that adequate security is provided to customer’s funds and collateral (ther original document). It will also increase the revenue that will be accruable to the mortgage institution in the effect of the computer base.

Information system for mortgage financing it will also make it possible for faster seriates to be rendered to customers.

Finally, the work will be a very useful adding to the existing research work carried out in the area of computer based information system for mortgage financing.

1.5 Scope of the Study

This research work is limited to the design and implementation of a computer, based information system for mortgage financing for the Harvard trust fiancé.

1.6 Limitation

There were some shortcomings that arose during the research of this work such as the staff of Harvard trust finance refusing to disclose certain information that is supposed to improve the work. My class tight schedules made it difficult for me to spend much time on the related works and visit to many mortgage institution was impossible due to some financial constraints.

1.7 Definition of Terms

Computer:

A computer is an electronic device control by human intelligence. To accept data as input, process it using a set of predefined instruction in order to release an expected result, which could be store and called up when the ness arises.

Data:

Data are unprocessed facts and figures that make little or no meaning.

Information:

Information is the result of a processed data.

Mortgage:

A mortgage is the bender of the money.

Mortgage:

A mortgage is a person whom the money is being blundered to (borrower)

Insolvent:

Insolvent means unable to pay one depts.

P.M.Is:

Primary Mortgage Intuitions

NHF:

National Housing Funds.

Chapter Seven

7.0 Conclusions and Recommendation

7.1 Conclusion

Having identified the numerous problems associated with the current system is done manually as being.

Time consuming
Exposing the mortgage institution to a greater risk of being duped by some money conscious and dubious minded mortgage and auditors.
Inefficient
Unreliable
So rigid and makes room for innovation, and
An expensive method it is therefore the intension of this project computer base information system for mortgage financing) to eliminate all these shortcomings. Its major objective is to provide the Harvard trust finance Enugu with a computer base information system.

The mew system also reduces complexity and is very simple to manipulate, very flexible and facilities changes. The quality and reliability paramount in mind and maintenance cost is projected to the barest minimum.

It is worth mentioning at this junction that this system when installed is relatively better than the old system as it eliminates all the handicaps inherent in the system and also better facilities are introduced.

7.2 Recommendation

Considering the achieved objective of this project and the experience gained during its design and implementation, there still exist more work to be done for further improvement of this work.

I as the writer wishes to recommend that, for an improvement on this work, an interested researcher should aim at improving the work in this direction.

The provision of data for the intending system.
Suggest any better method of giving out loans on mortgage
Find out ways of implementing some other operations that are not included here like inter mortgage institution linkage, online loan on mortgage system etc. when these are done, the system would be fully recommended beyond the Harvard trust finance Enugu.

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