The Jamaica Mortgage Bank was established in 1971, as a private limited company under the Companies Act of 1965 with an authorized share capital of $5 million. On June 5, 1973, under Act of Parliament No. 16 of 1973, the Bank was converted to a statutory corporation. The authorized, issued and fully paid-up share capital of the Bank is at present $500 million.
The Jamaica Mortgage Bank (JMB) was established with the mandate to finance safe and affordable housing so that all Jamaicans will have access to home ownership. The JMB seeks to mobilize financial resources for on-lending to private and public sector developers and financial institutions, developing an active secondary mortgage market and providing mortgage indemnity.