Year 2017 Press/Photo Release

Pag-IBIG Fund remitted to the Bureau of Internal Revenue (BIR) the amount of P2,064,334,589.95 representing the basic tax for Real and Other Properties Acquired (ROPA) of Pag-IBIG Fund for the issuance of E-Certificate of Authority to Register (e-CAR), a mandatory requirement for the consolidation of the title of these acquired assets in the name of Pag-IBIG Fund. These assets, once transferred in the name of Pag-IBIG Fund, will in turn be made available for sale to Pag-IBIG Fund members.

Pag-IBIG Fund is aligned with President Rodrigo Roa Duterte’s directive to offer social benefits to the Filipinos. It does this by providing more housing opportunities to them, as envisioned by Housing and Urban Development Coordinating Council and Pag-IBIG Fund Board of Trustees Chairperson Eduardo D. del Rosario through the BALAI Filipino (Building Adequate, Livable, Affordable, and Inclusive Filipino Communities) program. As a government agency, Pag-IBIG Fund always requires proper payment of taxes. Our remittance of the taxes for ROPA is just an initial step to a continuing partnership between Pag-IBIG Fund and BIR to make more housing units available to the people,” said Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti.

According to BIR Commissioner Atty. Caesar R. Dulay, their agency is ready to help Pag-IBIG Fund in any way. “Salamat sa Pag-IBIG. Sana ay makatulong din kami sa inyo,” the BIR Commissioner said. (END)

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A ground breaking ceremony was held at the project site on November 22, 2017, attended by Housing and Urban Development Coordinating Council (HUDCC) and Pag-IBIG Fund Chairperson Eduardo D. del Rosario, Pag-IBIG Fund Chief Executive Officer (CEO) Acmad Rizaldy P. Moti, Housing and Land Use Regulatory Board (HLURB) CEO & Commissioner Atty. Lloyd Christopher Lao, MSU President Dr. Habib Macaayong, Presidential Spokesperson Harry Roque, HUDCC Secretary General Falconi Millar, and other government officials.

We will do our best to provide the necessary assistance in the housing needs of the people of Marawi affected by the conflict, including the MSU professors and personnel who have a very important role in promoting peace and inculcating in the hearts and minds of the young that war will bring nothing but destruction,said Secretary Del Rosario, who was also designated by President Duterte as head of Task Force Bangon Marawi.

The MSU main campus is in Marawi City, and the homes of a number of its employees and instructors were affected by the conflict that hit the city.

Pag-IBIG Fund fully supports the BALAI Filipino program of HUDCC and the Marawi rehabilitation efforts. The MSU housing project will provide the beneficiaries with decent housing that is within their income and affordability level, Mr. Moti said.

According to HLURB CEO & Commissioner Lao, the site development will be through the donation of developers as part of their compliance to the balanced housing requirement. He added that the project will have housing units with 32 sq.m. floor area standing on a 100 sq.m. lot, and is offered for only P450,000.

The Memorandum of Understanding on the MSU housing project was signed on September 21, 2017 at the Sofitel Philippine Plaza in Pasay City by the Pag-IBIG Fund CEO, the MSU President, and the HLURB CEO & Commissioner.

Consultative meetings to discuss the operationalization of the project were conducted the following month, with Pag-IBIG Fund distributing survey forms to the target beneficiaries. Of the 717 who responded to the survey so far, 697 or 97% expressed their interest in the housing project.

But Mr. Moti emphasized that other institutions and organizations in Marawi, both in the public and private sectors, may also apply for a housing project similar to that of the MSU project, which Pag-IBIG Fund may also finance.

Pag-IBIG Fund earlier set aside a P3 Billion fund under its Home Rehabilitation/Reconstruction Loan Program to provide Pag-IBIG Fund members in Marawi access to housing loans that carries low interest rates and under affordable terms. Pag-IBIG Fund also offered a six-month reprieve on all loan payments to help members recover from the conflict in Marawi City. (END)

Strong performance of Pag-IBIG Fund’s housing program led the 3rd quarter income growth. Loan releases from the End-User Home Financing program exceeded the nine-month target by P1.42 Billion, and efforts to update past due accounts resulted to an additional income of P2.34 Billion. These strategies allowed Pag-IBIG Fund to earn P16.80 Billion interest income on home loans during the nine-month period, an 11% or P1.70 Billion increase compared to same period last year.

Pag-IBIG Fund’s active promotion of its housing loan program is in support of President Rodrigo Roa Duterte’s call to provide Filipinos, especially low-income earners, with opportunities for homeownership.

Pag-IBIG Fund will play a very big role in achieving our target of having 250,000 housing units per year. Other shelter agencies like National Housing Authority and Social Housing Finance Corporation will address the needs of the informal settler families or ISFs. Pag-IBIG Fund will take care of the formal sector, which comprises about 60-70% of our housing deliverables,Chairperson of the Pag-IBIG Fund Board of Trustees and Housing and Urban Development Coordinating Council (HUDCC) Eduardo D. del Rosario said.

In addition to increased home loan availment, Pag-IBIG Fund’s short-term loan program also contributed to its 3rd quarter income growth, with active accounts and new applications earning an interest income of P4.96 Billion. Improved market conditions during the 3rd quarter also allowed Pag-IBIG Fund to surpass its ninemonth period target in fund management, resulting to an investment income of P2.66 Billion.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti is optimistic that 2017 will be another banner year for Pag-IBIG Fund. We’ve been hitting our quarter targets this year. I am confident that we will surpass our 2016 performance. This means that our members are assured that Pag-IBIG Fund remains very stable, and continues to become even stronger. This also means that they can continue to expect better benefits and an increase in dividend returns for their savings, he said. (END)

The new policy enables us to serve more individual earners, regardless of their social status. This is our contribution to President Rodrigo Roa Duterte’s social protection agenda for those who have less in life. We want to give membership access to all earners so that they, too, can have a home of their own and save for a brighter future, said Housing and Urban Development Coordinating Council (HUDCC) Chairperson Eduardo D. del Rosario.

Pag-IBIG Chief Executive Officer (CEO) Acmad Rizaldy P. Moti added, We want to help those in the lower income brackets, join and be active members of the Fund by coming up with a sustainable and practical contribution rate. For instance, a market vendor earning P6,500 a month may now save only P100 each month with Pag-IBIG, instead of the usual P200.

For the OEG sector, Pag-IBIG removed the employer counterpart worth P100. Previously, like other self-employed members, OEG-members were required to pay both employer and employee shares.

With the new rates, we now make Pag-IBIG membership easier and more affordable. Members from the OEG sector can now easily enjoy the many benefits of being a PagIBIG member. They are also encouraged to save more than the required monthly membership savings, Pag-IBIG Deputy CEO for Member Services Cluster Alexander Hilario G. Aguilar said.

The reduced contribution rate took effect on October 10, 2017. Pag-IBIG aims to reach a membership target of 86,000 individuals comprising of individuals from OEGs by the end of 2017. (END)

Under R.A. 9679, membership to Pag-IBIG is mandatory, and non-compliance is punishable by a fine of not more than twice the amount involved, imprisonment of not more than six years, or both fine and imprisonment. More than the penalties for violation, Pag-IBIG is concerned about the welfare of employees being deprived of the benefits of Pag-IBIG membership. President Rodrigo Roa Duterte has always emphasized the need to help the Filipino workers secure their future by ensuring that they enjoy government benefits, said Housing and Urban Development Coordinating Council (HUDCC) Chairperson Eduardo D. del Rosario.

We have devised a way to help employers meet their obligations through our Penalty Condonation Program. Unregistered and delinquent employers may register or settle their arrears with Pag-IBIG, minus the penalties,Pag-IBIG Chief Executive Officer Acmad Rizaldy P. Moti stressed.

The penalty condonation program will give unregistered or delinquent registered employers the chance to register their employees with Pag-IBIG and pay any arrears in their employees’ membership savings, including the mandatory employer counterpart of their employees’ PagIBIG savings. Excluded are employers that deduct employee contributions but fail to remit these to Pag-IBIG.

A full penalty condonation will be given to all eligible employers, as long as they will settle the employer counterpart of the membership savings and the deprived dividends. The unpaid employer counterpart and deprived dividends may also be settled through plan of payment for a maximum period of two years and interest of 0.50% per month.

To date, 231 employers are facing charges in court for failing to comply with the mandatory provisions of R.A. 9679. Charges are either for non-registration, short registration or not registering all their employees, short remittance or not remitting the required amount, or nonremittance or not remitting to Pag-IBIG the contributions deducted from their employees.

Mr. Moti reminded the employers, Corporations are obligated to follow what the law states, and that is to register their employees as Pag-IBIG members, and to remit to us their employer counterpart and their employees’ contributions. Otherwise, their companies will not be issued business permit by the local government units. The top officials may even be tagged when securing clearances from the National Bureau of Investigation or the police. (END)

In keeping with President Rodrigo Roa Duterte’s directive under the country’s development goals, we want to help ensure that every Filipino, regardless of his social status, has a decent roof over his head, said Housing and Urban Development Coordinating Council (HUDCC) Chairperson Eduardo D. del Rosario.

He added, To achieve this, HUDCC and the government’s key shelter agencies, including Pag-IBIG Fund, recently launched the BALAI Filipino (Building Adequate, Livable, Affordable, and Inclusive Filipino Communities) program.

Pag-IBIG has been providing affordable housing finance to its 17.14 million members through its Regular End-User and Affordable Housing Programs.

The Fund’s performance in August this year is remarkable, given that said month is usually low in terms of housing loan takeout. For this year, however, Pag-IBIG posted P6.01 Billion in housing loan takeout. It is the highest non-December monthly takeout, and the third highest in Pag-IBIG history, after P7.04 Billion in December 2016 and P6.42 Billion in December 2015, explained Pag-IBIG Chief Executive Officer (CEO) Acmad Rizaldy P. Moti.

From 2011 to 2016, December has always been the month with the highest housing loan takeout.

Deputy CEO for Home Lending Operations Cluster Marilene C. Acosta attributed the high takeout in August to Pag-IBIG’s low interest rates. Our regular end-user program has market-competitive interest rates of as low as 5.5% per annum for a 1-year repricing period. We also have the affordable housing program exclusive for minimum-wage earners, which carries an even lower interest rate of only 3% per annum for loans not exceeding P450,000, she said.

Pag-IBIG also made housing loan transactions faster. Processing time has been reduced from 27 days to 20 days, while application requirements decreased by half from 14 documents to 7 documents.

Mr. Moti also said that Pag-IBIG is on track with its year-end target of P65 Billion worth of housing loan takeout. (END)

President Rodrigo Roa Duterte is very emphatic in addressing the needs of those who have less in life, particularly their housing needs. Pag-IBIG Fund will play a very big role in achieving our target of 250,000 housing units per year for both the formal and informal sectors. With the 70% reduction in the national housing budget, PagIBIG will come into the picture,said Housing and Urban Development Coordinating Council (HUDCC) Chairperson Eduardo D. del Rosario.

The partnerships are Pag-IBIG Fund’s way of supporting the BALAI Filipino Program. The four Memoranda show Pag-IBIG’s commitment to serve our public better. As we build our corporate headquarters through National Housing Authority (NHA), we help build the homes of our brothers and sisters in the Land Transportation Franchising and Regulatory Board (LTFRB). And as we fast-track our services by partnering with Housing and Land Use Regulatory Board (HLURB), we ensure due diligence and evaluation on our socialized housing receivables by partnering with National Home Mortgage and Finance Corporation (NHMFC), PagIBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said.

The MOA with HLURB will be for the synchronization of the implementation of policies and business rules to ease the flow of transactions. The MOU with NHA will be for the construction of Pag-IBIG Fund’s corporate headquarters inside the NHA Main Compound in Quezon City. The MOU with NHMFC will be for NHMFC’s purchase of socialized housing receivables from Pag-IBIG Fund. Lastly, the MOU with LTFRB will be for the housing project of LTFRB employees.

The launch of the BALAI Filipino Program was attended by officials from HUDCC and the six key shelter agencies, as well as representatives from other government agencies, the private sector, and other stakeholders. (END) Hide this content.

If we have pagbabago as the battle cry of President Duterte's administration, we will have BALAI Filipino as the battle cry in the Housing Sector. We hope that this battle cry stays even beyond the current administration, said Housing and Urban Development Coordinating Council (HUDCC) Chairperson Eduardo D. del Rosario.

BALAI Filipino is the Duterte administration's 10-year national housing strategy to close the country's housing gap, with key shelter agencies (KSAs) working closely together. The program aims to improve government efforts in addressing Filipinos' housing needs, as well as engage with the private sector.

The bottom line of all these concerted efforts is this: We should all dream the same dream, share the same vision, take the same step, and look at the same direction, guided by BALAI Filipino. In keeping with President Duterte's directive under the country's development goals, we want to help ensure that every Filipino, regardless of his social status, has a decent roof over his head – one that he can call his own, Secretary del Rosario continued.

Pag-IBIG Fund Chief Executive Officer (CEO) Acmad Rizaldy P. Moti added, Pag-IBIG Fund supports the BALAI Filipino Program. What we have been doing in the Fund match the vision of BALAI.We continue to draw up better financing schemes to make housing more affordable for low-income groups, in support of BALAI Filipino. Our latest subsidized interest rate of 3% for minimum wage earners is the lowest in the market. Also, our 5.5% interest rate for regular loans of up to P6 Million is competitive with bank rate.

Pag-IBIG introduced the Countryside Housing Initiative (CHI), a program aimed at creating more housing opportunities for low-income earners through partnership with employers. The partnerships bring about township communities with quality housing units but at prices well below market prices. CHI is also about bringing housing solutions available in metropolis areas to the countryside - to unserved and underserved areas. CHI projects are envisioned to become BALAI Filipino communities.

Pag-IBIG Deputy CEO for Home Lending Operations Cluster Marilene C. Acosta said, We have drawn up strategies to meet our targets. Wholesale or bulk lending with a yearly P2-Billion worth of approvals is one of them. Other plans are to: finance 16,000 housing units for teachers, men-in-uniform, local government unit (LGU) employees, kasambahays, and drivers from 2017-2021; help fund 30 housing projects for the unserved or underserved groups; and adopt a more affordable pricing model. (END)

Housing and Urban Development Coordinating Council (HUDCC) Chairperson duardo D. Del Rosario expressed support for the event. Aligned with the 'Build, Build, Build' program of President Rodrigo Roa Duterte, we in the housing sector will make sure to build resilient houses in safer communities. Our battle cry will be the BALAI FILIPINO program, which stands for Building Adequate, Livable, Affordable, and Inclusive Filipino Communities. The government cannot do this alone. We have to harness the resources of both the public and private sectors, he said.

Pag-IBIG Chief Executive Officer Acmad Rizaldy P. Moti added,

We at Pag-IBIG have been working closely with the private sector. We involve our stakeholders and apprise them of the updates or development on Pag-IBIG's housing programs. It keeps us accountable of our actions, while giving our members the assurance that the funds that they have entrusted to us are managed well.

Pag-IBIG recorded a total loan value takeout amounting to P28.83 Billion, topping the P24.74 Billion loan value takeout during the 1st half of 2016 by P4 Billion or a 17% year-on-year growth. Pag-IBIG North Luzon showed 21% year-on-year growth from last year's P4.31 Billion, as it disbursed a P5.21 Billion loan value takeout in the first half of 2017 which benefitted 5,500 Filipino worker families.

As of end of June 2017, Pag-IBIG's Performing Loans Ratio reached 90.2% corporate-wide, and 86.50% in North Luzon. Its non-performing loans ratio went down to a single-digit level of 9.8% for the whole agency, and 13.50% in North Luzon.

Pag-IBIG Fund surpassed both its 1st semester 2017 targets and its same period performance in 2016. The accomplishments in North Luzon were achieved through the efforts of the Home Lending Operations Group in Luzon headed by Atty. Joseph Quiboloy. We did these with the support and participation of our partner-developers. Thus, in the forum, we recognize the top developers and partners for their efforts, said Pag-IBIG Deputy CEO for Home Lending Operations Cluster Marilene C. Acosta. (END)

The promo is aligned with President Rodrigo Roa Duterte’s directive to help Filipinos prepare for their future through social benefits. When Pag-IBIG members save more with the Fund, they not only increase their personal funds from which they can borrow for cash loans or simply save for their retirement years. They also enable Pag-IBIG to have more funds for its housing programs, which the members themselves can avail to realize their dream of homeownership, said Housing and Urban Development Coordinating Council (HUDCC) Chairperson Eduardo D. del Rosario.

We came up with the promo to encourage our members to upgrade their savings with PagIBIG. We want our members to enjoy their Pag-IBIG benefits, where they save and achieve homeownership, added Pag-IBIG Chief Executive Officer (CEO) Acmad Rizaldy P. Moti.

Three overseas Filipino worker (OFW)-members, Francisco E. Burlas, Jr., Omar M. Darimbang, and Emie L. Manalo, along with three locally-based members, Flocer Grace C. Buaron, Christian Romar M. Dela Paz, and Miriam V. Reyes, each won an Oppo F3 Plus smartphone. On the other hand, OFW-member Joanna H. Montales won the P100,000 cash prize.

According to Pag-IBIG Deputy CEO for Member Services Cluster Alexander Hilario G. Aguilar, the promo issued 81,547 raffle numbers to date. Active local and overseas members who have Pag-IBIG 1 Member Savings remittance of at least P600 a month can join, he said.

For every P600 MS remitted by the member per month, two electronic raffle numbers will be issued through email. One bonus electronic raffle number will also be issued to the member through email upon joining the raffle promo through the Pag-IBIG website (one time registration only) and after validation of the initial remittance required.

One million pesos is up for grabs at the grand draw. The promo runs until March 31, 2018.

Winners are notified via telephone call, e-mail, or registered mail as detailed in their Pag-IBIG records. Winners of each draw will also be announced in Pag-IBIG’s official website and Facebook page.

The first quarterly draw will be held on October 27, 2017. (END)

The efforts of Pag-IBIG Fund are in response to the directive of President Rodrigo Roa Duterte to give preferential attention to the housing needs of the underserved sector. Our housing programs also support the BALAI Filipino (Building Adequate, Livable, Affordable, and Inclusive Filipino Communities) program of Housing and Urban Development Coordinating Council (HUDCC) Chairperson Eduardo D. del Rosario, said Pag-IBIG Chief Executive Officer (CEO) Acmad Rizaldy P. Moti.

We recognize the potential of Mindanao in housing, Mr. Moti added, even as he posed a challenge to Pag-IBIG’s partner-developers to deliver more decent, yet affordable ousing for the Filipino families.Pag-IBIG’s Mindanao housing loan takeouts is expected to reach P8.6 Billion by end of the year, more than a Billion higher than the P7.5 Billion target. The accomplishments in Mindanao were achieved through the efforts of the Home Lending Operations Group in Mindanao headed by Atty. Marie Antoniette Diaz, who also heads the operations in Visayas.

We are going around the country to offer to employers Pag-IBIG’s Countryside Housing Initiative program. Its interest rate at 3% per annum is the lowest in the market and is very much within reach of low-income workers, said Pag-IBIG Deputy CEO for Home Lending Operations Cluster Marilene C. Acosta.

The strategy opens up housing opportunities in areas that are not yet included in the plans for housing development of private developers in the next five to ten years. Sample projects include Pag-IBIG’s partnership with DOLE Philippines that created a housing project within the DOLE plantation in Polomolok, South Cotabato, exclusive for DOLE employees, and the Sto. Nino Heights Subdivision project of the local government unit (LGU) of Dangcagan, Bukidnon, for the LGU employees and its constituents.

The DOLE project has 30 square meters housing units standing in a 70 square meters lot area, with a selling price of only P450,000. The Dangcagan LGU project has the same selling price and floor area of the unit, but with a larger land area at 80 square meters.

Pag-IBIG Fund is focused on sustainability, not on profitability, Mr. Moti stressed.

Pag-IBIG will continue to push for quality housing units and to make homeownership more affordable by continuing to collaborate with the Fund’s well-meaning partners in the housing sector,said Ms. Acosta. (END)

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Following the directions of President Rodrigo Roa Duterte for efficient and faster government services, Pag-IBIG Fund finds ways to make transacting with the Fund easier and more convenient for its members, said Pag-IBIG Board and Housing and Urban Development Coordinating Council (HUDCC) Chairperson Eduardo D. del Rosario.

Pag-IBIG Chief Executive Officer (CEO) Acmad Rizaldy P. Moti added, “The Pag-IBIG DBP prepaid card is one way for our members and stakeholders to experience ease and comfort in doing business with us. Its security features also give it an added edge.”

The Pag-IBIG DBP prepaid card is equipped with the latest Europay, MasterCard, and Visa (EMV) chip card technology that secures it against fraud and counterfeiting. STL borrower-cardholders can withdraw their loan proceeds through DBP and BancNet ATMs. Cardholders can also enjoy cashless payment at VISA-accepting stores and outlets worldwide. They can also use the card for online payments and on tap-to-pay VISA PayWave terminals.

DBP is proud to be partnering with the Pag-IBIG Fund in this initiative that will provide Pag-IBIG members with a fast, convenient, and secure way of receiving their loan proceeds, said DBP President and CEO Cecilia C. Borromeo.

According to Pag-IBIG Deputy CEO for Member Services Cluster Alexander Hilario G. Aguilar, Pag-IBIG extends multi-purpose and calamity loans to over 2 million members each year. From January to August this year, it has released P34 Billion in cash loans.

The card, which costs an affordable P50, also has a longer validity period of five years. Pag-IBIG members can use the same card for their succeeding loan applications. Cardholders can also conveniently monitor their balance and pay bills online through BancNet Online.

The Pag-IBIG DBP prepaid card is initially available in these Pag-IBIG branches – Cebu Ayala Branch and Tacloban Branch. (END)

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“The promo is aligned with President Rodrigo Roa Duterte’s directive to help the Filipino prepare for their future through social benefits and Housing and Urban Development Coordinating Council (HUDCC) Chairperson Eduardo D. Del Rosario’s BALAI Filipino program. We help our members enjoy their Pag-IBIG benefits, where they save and achieve homeownership,” said Pag-IBIG Chief Executive Officer (CEO) Acmad Rizaldy P. Moti.

Two OFW-members, Brian B. Postrano and Hilaria S. Cagang, along with four locally-based members, Josephine P. Crave, Ritchelle T. Elade, Josefina M. Cajegas, and Ellen O. Baronia each won an Oppo F3 Plus smartphone. On the other hand, local member Aileen A. Abelinde won the P100,000 cash prize.

According to Pag-IBIG Acting Deputy CEO for Member Services Cluster Alexander Hilario G. Aguilar, the promo issued 19,374 raffle numbers to date. “Active local and overseas members who have Pag-IBIG 1 MS remittance of at least P600 a month can join,” he said.

For every P600 MS remitted by the member per month, two electronic raffle numbers will be issued through email. One bonus electronic raffle number will also be issued to the member through email upon joining the raffle promo through the Pag-IBIG website (one time registration only) and after validation of the initial remittance required.

One million pesos is up for grabs at the grand draw. The promo runs until March 31, 2018.

Winners are notified via telephone call, e-mail, or registered mail as detailed in their Pag-IBIG records. Winners of each draw will also be announced in Pag-IBIG’s official website and Facebook page.

“The next monthly draw will be held on September 29, 2017,” added Pag-IBIG Manager Juanito Angelito A. Jareno. (END)

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“One of the directives of President Rodrigo Roa Duterte is to help the Filipino workers secure their future by ensuring that they enjoy government benefits, like those enjoyed by 17.4 million Pag-IBIG members. The underserved sector can avail of affordable housing through Pag-IBIG,” said Pag-IBIG Board of Trustees and Housing and Urban Development Coordinating Council (HUDCC) Chairperson Eduardo D. Del Rosario.

Added Pag-IBIG Chief Executive Officer Acmad Rizaldy P. Moti, “We are expecting around 200,000 business establishments, mostly the micro and small entrepreneurs, to apply for penalty condonation. Consequently, around 300,000 to 400,000 Filipino workers will be added as Pag-IBIG members and be able to enjoy our benefits.”

The penalty condonation program will give unregistered or delinquent registered employers the opportunity to comply with the mandate of Republic Act No. 9679 or the Pag-IBIG Fund Law of 2009 to register their employees with Pag-IBIG and pay any arrears in their employees’ membership savings. All employers may qualify to apply to the program, except those who deduct employee contributions but fail to remit these to Pag-IBIG.

A full penalty condonation will be given to all eligible employers, as long as they will settle the employer counterpart of the membership savings and the deprived dividends. The unpaid employer counterpart and deprived dividends may also be settled through plan of payment for a maximum period of two years and interest of 0.50% per month.

The program took effect on August 26, 2017. Erring employers must file their applications to avoid incurring continued penalties on their unremitted contributions and criminal liability in accordance with the provisions of R.A. 9679.

To avail of the program, employers must update their records with Pag-IBIG through online registration system, if not yet registered with the Fund. They also need to secure and accomplish the Penalty Condonation application form, which is available at Pag-IBIG branches nationwide, then submit this to the branch covering their place of business. Only applicants with complete documents will be accepted and processed. (END)

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Most of the properties sold were in Cavite, Bulacan, Rizal, and Laguna, which are handled by Pag-IBIG’s National Capital Region (NCR) Group, with 7,301 housing units worth P3.07 Billion disposed for the period. This was followed by Luzon with 1,318 property units valued at P698 Million either re-acquired or sold.

“We continue to look for ways to provide ordinary earners with access to social protection which is being pushed by President Rodrigo Roa Duterte. Low-income groups like drivers and security guards make up many of the buyers of Pag-IBIG’s acquired assets, enabling them to have their own homes at affordable prices and buyerfriendly loan terms,” said Housing and Urban Development Coordinating Council (HUDCC) Chairperson Eduardo D. Del Rosario.

Funds generated from the sale of acquired assets help finance socialized housing for other low-income Pag-IBIG members.

Pag-IBIG posted considerable increases in the sale of its foreclosed properties in provinces near NCR, Luzon, Visayas, and Mindanao for the first semester of 2017 compared to that in 2016. Luzon showed the highest increase at 33%, or P698 Million compared to 2016’s P523 Million. Visayas followed at 26% increase, or P296 Million versus P234 Million in 2016.

“Pag-IBIG’s inventory of acquired assets is comprised of properties whose original owners availed of Pag-IBIG housing loan but were unable to pay their loan amortizations. We normally give these borrowers a chance to undergo remediation and buy back their foreclosed property. If they are unable to do so, Pag-IBIG has to offer the property to new buyers so that these acquired assets will generate income for the Fund,” explained Pag-IBIG Chief Executive Officer Acmad Rizaldy P. Moti.

The first semester accomplishments on the disposal of Pag-IBIG’s acquired assets were attributed to website uploads, housing fairs, information dissemination and marketing campaigns, public auctions, and text blasts, among others.

Pag-IBIG’s acquired assets or foreclosed properties under negotiated sale get as much as 30% discount on cash payment. (END)

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Housing and Urban Development Coordinating Council (HUDCC) and Pag-IBIG Board of Trustees Chairperson Eduardo D. Del Rosario welcomed Pag-IBIG’s good performance. “President Rodrigo Roa Duterte’s directive is very clear that the shelter agencies’ priority is to reduce the backlog and provide quality housing for our family beneficiaries. I’m glad to know that Pag-IBIG has that as its priority,” Mr. Del Rosario said.

Pag-IBIG also employed efficient asset management by disposing P4.520 Billion worth of acquired assets. Gain from the sale of said properties contributed about P1.98 Billion in gross income for the Fund.

“Pag-IBIG’s revenues have been in uptrend for the past several years. The increased income from the first semester translated to an increase of its assets that now amounts to P463.66 Billion. This is an almost P25 Billion increase of asset levels from December 2016,” Pag-IBIG Chief Executive Officer Acmad Rizaldy P. Moti said. (END)

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“We are exerting all efforts to help Pag-IBIG members, as per the directive of President Rodrigo Roa Duterte to provide Filipinos with affordable loans so that they will not resort to 5-6 loan sharks. In the last six months, STL disbursements helped 1.12 million members answer their immediate financial needs,” said Housing and Urban Development Coordinating Council (HUDCC) Chairperson Eduardo D. Del Rosario who also heads the Pag-IBIG Fund Board of Trustees.8.

With Pag-IBIG’s STL program, qualified members can borrow up to 80% of their total Pag-IBIG savings which consist of their monthly contributions, their employer’s contributions, and accumulated dividends earned every year. The Fund’s cash loan programs are classified into two, namely multi-purpose loans (MPL) and calamity loans (CL). These are payable within 24 months and come with deferred first payments of as long as three months.

“While Pag-IBIG is known for our housing loan programs, our short-term loan program serves as an affordable and readily-accessible source of cash loans. The MPL proceeds can be used for minor home improvement, tuition, capital for business, unforeseen expenses, or even a vacation, among others. On the other hand, the CL is open to members living in areas declared under a state of calamity to help them rebuild their lives after the calamity, and has the lowest interest rate in the market,” said Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti.

“With bigger STL releases than last year, we are pretty much on track to make 2017 a much better year than 2016! We will continue our efforts to help even more members in the coming months,” he added. (END)

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One million pesos is up for grabs at the grand draw. The promo runs until March 31, 2018.

According to Pag-IBIG Fund Acting Deputy CEO Alexander Hilario G. Aguilar, the raffle is open to all qualified Pag-IBIG Fund members. “Both local and overseas members, who have Pag-IBIG 1 MS remittance of at least P600 a month, can join,” he said.

Other prizes are: OPPO F3 Plus smartphones and P100,000 for monthly, first quarter, second quarter, and grand draws; P250,000 for first quarter and grand draws; and P500,000 for second quarter and grand draws.

For every P600 savings remitted by the member every month, two electronic raffle numbers will be issued through email. One bonus electronic raffle number will also be issued to the member through email upon joining the raffle promo through the Pag-IBIG website (one-time registration only) and after validation of the initial remittance required.

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Del Rosario explained that socialized housing are loans not exceeding P450,000.

“The best part of Pag-IBIG’s socialized housing loan for minimum-wage and low-income workers is that the interest rate is now only 3% per annum in the first five years of the loan – the lowest in the market,” Del Rosario stated.

He added that the recent move of the Fund to reduce its interest rate under the AHP from 4.5% to the current 3% is in support of the pro-poor programs of the administration of President Rodrigo Roa Duterte.

“Because of the lower interest rate, the monthly amortization for a P450,000 loan was brought down to just P1,897. This means that a worker who earns a gross monthly income of about P5,420 may now realize his or her dream of home ownership,” Moti explained.

He added that a family that spends P65 a day for soft drinks or P1,950 a month can definitely afford to acquire a new home through Pag-IBIG housing loan. By refocusing a family’s expenses, Moti said that acquiring a home is not just fulfilling in this case, but healthy as well.

Since the 3% interest rate became effective on May 1 this year, 1,731 minimum-wage and low-income workers have already availed of the new rate to date, with a combined total loan value of P619 Million.

Under the current administration, Pag-IBIG already assisted 23,770 minimum-wage and low-income workers acquire their own homes through socialized housing loans valued at P8.28 Billion, from July 1, 2016 to end of June 2017.

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Newly-appointed Housing and Urban Development Coordinating Council (HUDCC) Chairperson Eduardo D. Del Rosario expressed support for the event, saying, “President Rodrigo Roa Duterte was clear in his campaign against corruption in the government. So, when he appointed me to HUDCC, my first initiative was to form an audit team that will monitor the performance of our shelter agencies. Pag-IBIG is in the right step to conduct forums such as this to practice transparency.”

Pag-IBIG recorded a total loan value take-out amounting to P28.8 Billion, topping the P24.7 Billion loan value take-out during the 1st half of 2016 by P4 Billion or a 17% year-on-year growth. Pag-IBIG NCR showed 5% year-on-year growth from last year’s P11.6 Billion, as it disbursed a P12.2 Billion loan value take-out in the first half of 2017 which benefitted 17,733 Filipino worker families.

As of end of June 2017, Pag-IBIG’s collection efficiency reached 90.2% corporate-wide, and 91.61% in the NCR. Its non-performing loans ratio went down to a single-digit level of 9.8% for the whole agency, and 8.39% in the NCR.

“This is good governance, that we involve our stakeholders and apprise them of the updates or development on Pag-IBIG’s housing programs. It keeps us accountable of our actions, while giving our members the assurance that the funds that they have entrusted to us are managed well,” Pag-IBIG Chief Executive Officer Acmad Rizaldy P. Moti said.

The Pag-IBIG HOLAR will also be conducted in various regional cities in the country.(END)

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Del Rosario reported that under the current administration, Pag-IBIG has so far financed 78,345 housing units worth P61.4 Billion covering the period July 2016 to June 2017.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said that the Fund targets the takeout of around 82,000 housing units for 2017, which is worth around P65 Billion of housing loans. Including the housing loan approvals, the number of units will increase to around 100,000 units with an approximate value of P80 Billion. Loan approvals refer to approved housing loan applications but the proceeds are yet to be released pending the submission of post-approval requirements.

“With our accomplishment in the first semester of 2017, I can confidently say that we are on track to reach our target by end of the year,” Moti said.

He added that the market-competitive interest rates of as low as 5.5% per annum for a 1-year repricing period offered by Pag-IBIG under its regular housing loan program will attract more Pag-IBIG members to avail of housing loans.

Pag-IBIG has also an affordable housing program exclusive for minimum-wage earners, which carries an even lower interest rate of only 3% per annum for loans not exceeding P450,000.

In 2016, Pag-IBIG recorded its highest ever housing loan takeouts amounting to P57.3 Billion, which enabled the Fund to provide homes to 76,247 families.

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Acknowledging that the physical rebuilding of homes and structures will take time to ensure effective and responsive shelter interventions, it was agreed that Shelter Agencies will take initial and immediate steps to alleviate the plight of Marawi residents living in evacuation centers. To achieve this, the funds allocated for Gender and Development (GAD) from each agency will be mobilized to address the particular needs of women affected by the conflict.

Republic Act 9710, also known as the Magna Carta of Women, mandates government agencies to allot at least five percent (5%) of its total budget for GAD programs addressing gender issues and concerns. It was noted that agencies have difficulty utilizing their entire GAD budget.

Cabinet Secretary Evasco instructed HUDCC Key Shelter Agencies to find a way to reallocate up to half of their current GAD budgets and all remaining unutilized GAD funds from previous years to provide for the particular needs of women in evacuation centers. Options such as providing hygiene kits and psychosocial support services are being considered.

The Key Shelter Agencies under HUDCC include the National Housing Authority, Social Housing Finance Corporation, Home Development Mutual Fund - more commonly known as the Pag-IBIG Fund, Housing and Land Use Regulatory Board, Home Guaranty Corporation, and the National Home Mortgage Corporation. Secretary Evasco hopes that other agencies will take initiative to find ways to use resources to immediately help those affected by the recent conflict in Marawi. (end)

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“Housing is among the Duterte administration’s priority thrusts. Government housing is geared at building not just houses but also communities. We want to reach as many sectors as possible and give them equal access to home ownership,” Cabinet Secretary Leoncio B. Evasco, Jr. said in a statement.

Secretary Evasco and Pag-IBIG Chief Executive Officer Acmad Rizaldy P. Moti were represented by Acting Vice President for Business Development Sector Benjamin R. Felix at the ceremonial launch and turnover of copies of Notice of Approval and unit keys to the initial 19 beneficiaries of the Sto. Niño Heights Subdivision project in Dangcagan town. Other officials, led by Dangcagan Vice Mayor Edilberto F. Ayuban and Telow Brothers President Engr. Quirino U. Telow, Jr., also graced the event.

“By supporting the LGU’s initiative of making this project possible, Pag-IBIG Fund is actually reaching out to the underserved sector of our society in line with President Rodrigo Roa Duterte’s pro-poor agenda. And we will continue to respond to the call of easing the country’s housing backlog by making our housing program more accessible and affordable,” CEO Moti said.

Mr. Felix, on the other hand, recounted that initial efforts were made in 2013 toward the forging of an agreement between Pag-IBIG and Dangcagan LGU to undertake the housing project under Pag-IBIG’s Group Housing Loan Program and End-User Financing Program. “The Memorandum of Agreement was finalized and signed last year, authorizing the grant of P16.5 Million funding allocation to the developer, Telow Brothers, Inc. The LGU will facilitate the processing of the member-beneficiaries’ housing loan applications,” he added.

This partnership will generate 94 detached units and 192 single-attached or duplex units valued at a total of P157 Million. An 80 sq.m. unit is priced at a low P450,000. Dangcagan LGU owns the property used for the project intended for teachers and employees of the Department of Education, the LGU, and other government agencies.

Of late, Pag-IBIG further reduced its housing loan interest rate for Pag-IBIG members who are minimum-wage earners from 4.5% to only 3%, the lowest ever under its Affordable Housing Program. Eligible for the new interest rate are member-workers availing of a housing loan not exceeding P450,000 whose gross monthly income is not more than P15,000 for those in the National Capital Region (NCR) and P12,000 for those in other regions. (end)

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In this photo, Pag-IBIG Fund Acting Senior Vice President Benjamin R. Felix (3rd from left), representing Pag-IBIG Board of Trustees Chair Secretary Leoncio B. Evasco, Jr. and Pag-IBIG Chief Executive Officer (CEO) Acmad Rizaldy P. Moti, poses with Matefe G. Jamero (4th from left), one of the beneficiaries of the Sto. Niño Heights Subdivision project in Dangcagan, Bukidnon. Flanking them are (from left): Dangcagan Vice Mayor Edilberto F. Ayuban, Telow Brothers, Inc. President Engr. Quirino U. Telow, Jr., Pag-IBIG Institutional Housing Department Manager Nanette Gerarda T. Abilay, Pag-IBIG Cagayan de Oro Housing Business Center Manager Reynaldo P. Cue, and Telow Brothers Inc. Vice President Dr. Jerry U. Telow. Secretary Evasco stressed in a statement that government housing is geared at building not just houses but also communities.

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Pag-IBIG Chief Executive Officer Acmad Rizaldy P. Moti earlier said that the Pag-IBIG relief operations is part of the Fund’s social responsibility and commitment to the Filipino people. The relief activity was coordinated with the Department of Social Welfare and Development (DSWD) and barangay officials.

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Pag-IBIG Fund and the National Housing Authority (NHA) partnered with the City Government of Gingoog in Misamis Oriental in a socialized housing project implemented by the city government to benefit teachers, policemen, local employees, and informal settlers.

“Pag-IBIG’s efforts are in support of President Rodrigo Roa Duterte’s campaign to uplift the lives of our minimum- and low-wage earners. Homeownership is one of the best wealth creators available to Pag-IBIG members. Over time, the values of the houses go up while their loans go down. And with the low interest rates of the Fund, as low as 3% under the Affordable Housing Program and 5.5% under the End-User Home Financing Program, homeownership is very much within reach of everyone,” said Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti.

Pag-IBIG Acting Senior Vice President for Business Development Sector Benjamin R. Felix, Jr. who represented Mr. Moti, Gingoog City Mayor Marie L. Guingona, and NHA Cagayan de Oro District 2 Manager Generoso Abellanosa led the recent turnover rites for beneficiaries of the Villa Veronica Resettlement Project located in Upper Malangka, Barangay San Juan, Gingoog City.

“Pag-IBIG Fund and the City Government of Gingoog forged a partnership in 2015 to facilitate the processing of housing loans of beneficiaries through Pag-IBIG’s End-User Home Financing Program. Partnership with local government units (LGUs) is a sure way to reach the underserved sector of our society to make homeownership affordable and accessible for them,” Mr. Felix pointed out.

Initially, 21 recipients received the notices of housing loan approval and symbolic key from Pag-IBIG at the People’s Palace in Gingoog City. Under the Memorandum of Understanding with Gingoog LGU, Pag-IBIG will extend individual housing loans to qualified beneficiaries while the LGU will promote Pag-IBIG’s housing programs to the beneficiaries and assist them with their loan applications. NHA provided a P26-Million grant to develop the project site, which is owned by Gingoog LGU.

Out of the 415 units that will be built for the project, 247 units will be for city employees, public and private school teachers, policemen, and other government employees. A total of 168 units will be allocated for the relocation of informal settlers residing in the city’s danger areas. (end)

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The new rate is 33% lower than the previous 4.5% interest rate under the Fund’s Affordable Housing Program (AHP). Minimum-wage workers in the National Capital Region earning up to P15,000 gross monthly income, and workers in other regions with a gross monthly income of P12,000 are eligible to avail of the new interest rate for a loan not exceeding P450,000.

Pag-IBIG Fund Officer-in-Charge Acmad Rizaldy P. Moti said that the move to reduce further the housing loan interest rate under the program is in response to President Rodrigo Duterte’s directive to give the underserved sector equal access to housing opportunities.

Moti explained that Pag-IBIG Fund is able to subsidize the interest rate of minimum-wage earners mainly because of the savings the Fund earns from its tax-exempt status as provided for in its charter. He likewise cited the reforms the Fund implemented in recent years as contributing factors in the lowering of the interest rate.

“The reforms we have implemented particularly the outsourcing of collections has, for the first time, resulted in a single digit 9.45% Non-Performing Loans (NPL) Ratio of the Fund. This means that Pag-IBIG’s Performing Loans Ratio (PLR) greatly improved, reaching 90.55% as of March this year, from just 75% a few years ago,” Moti said.

Pag-IBIG has achieved unprecedented accomplishments recently, according to Moti, which reinforced the Fund’s standing as the top home financing institution in the country today.

“Pag-IBIG’s achievements redound to the advantage of Pag-IBIG members. A stronger Pag-IBIG Fund means more benefits for Pag-IBIG members, including the low interest rate for housing loans,” Moti concluded. (end)

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“The renewal of commitment is in support of President Rodrigo Roa Duterte’s zero tolerance for any form of corruption in government. The Integrity Pledge is tantamount to Pag-IBIG’s determination to keep itself graft- and corruption-free in all its transactions and to forestall any questionable deals,” Mr. Moti said, as he thanked the participants.

In response to the OIC’s call, the partner-developers committed to doing business with Pag-IBIG with utmost professionalism and business ethical standards; respect rules and regulations; observe accuracy and truthfulness in preparing documents; require employees to be fair and honest in their dealings; adopt best practices and ethical business policies; avoid dubious deals; and be reliable and trustworthy in all partnership activities with the government.

Pag-IBIG Fund Acting Deputy Chief Executive Officer for Home Lending Operations Cluster Ms. Marilene C. Acosta expressed optimism that with the renewed commitment of the housing developers backing it, the agency will reach its targets for 2017.

Pag-IBIG Fund initiated a nationwide simultaneous recitation and signing of the pledge by all its employees in 2014; introduced the pledge to its partners and stakeholders in 2015; and required its employees to renew their commitment by revisiting the pledge in 2016.

The Integrity Pledge received a Gold Award from the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) as one of three outstanding corporate governance initiatives. Pag-IBIG Fund was cited for its integrity practices and good governance, improved insurance coverage for home borrowers, and proper management of its acquired assets. (end)

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More than 400 housing developers attended the fora held in Makati City for NCR; Alabang, Muntinlupa for South Luzon; San Fernando, Pampanga for North Luzon; Cebu City for the Visayas; and, Davao City for Mindanao.

“The Home Lending Accomplishment Report is our way of making ourselves transparent and provides us with the opportunity to recognize our top-performingpartners in the housing industry. I’m convinced that transparency is the key to goodgovernance,” said Pag-IBIG Fund Officer-in-Charge Acmad Rizaldy P. Moti.

Mr. Moti reported that 2016 was the best year for Pag-IBIG because it surpassed its previous feats. He cited better client servicing, more branches (122 to date), PhP439.3Billion total assets, PhP25.01 Billion net income, and 17.3 million members as of December 2016.

Bent on helping more low-income members and minimum-wage earners in line with President Rodrigo Roa Duterte’s pro-poor agenda, the top executive appealed to the housing developers to consider growing their business with Pag-IBIG Fund to help their countrymen own a decent home. “Grow with us. Consider doing more business with Pag-IBIG Fund because you’re helping your countrymen. Keep on helping us,” he told them.

He further invited partner-developers to help Pag-IBIG reach its target of PhP65 Billion loan take-outs for 2017 to benefit more low-income workers and minimum-wage earners.

Meanwhile, Acting Deputy Chief Executive Officer for Home Lending Operations Cluster Marilene C. Acosta reported a 30% increase in loans extended to Pag-IBIG borrowers in 2016 compared to that in 2015, with a total value of PhP57.3 Billion. This translates to a 28% increase in the number of new units or a total of 76,247 homes built in 2016.

She noted further that the total amount of loans granted to members under the affordable housing program increased by 36% in 2016 valued at PhP7.97 Billion,translated to 19,908 units or 32% more homes built compared to that in 2015. NCR got a staggering 72% share of the corporate-wide total loan take-outs.

Also at the fora, awards were given to the longest-transacting developer, developer with the highest performing accounts ratio, and the top ten developers in terms of loan takeout value. (END)

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“Our partnership with LRA has saved our members’ time. They don’t have to go to their respective Register of Deeds (RD) to get a certified true copy of their TCT or CCT. Also, our Housing Business Centers in the regions can benefit from the kiosk based here in the NCR,” said Pag-IBIG Fund Officer-in-Charge Acmad Rizaldy P. Moti.

To request for a copy of the TCT or CCT, the borrower must bring a photocopy of the title, proceed to the LRA kiosk for verification, and pay the corresponding fee (amount is based on the number of pages generated from the online system). Pag-IBIG will verify and facilitate the requests of the titles from LRA online. Certified true copies of the TCTs and CCTs on file with LRA from 2010 and up are released within a day, while those on file prior to 2009 will be released three days after.

“So far, we have processed more than 4,400 TCTs and CCTs requests from Pag-IBIG Housing Loan borrowers nationwide,” Mr. Moti added.

Acting Deputy CEO Marilene C. Acosta said that Pag-IBIG Fund and the LRA signed an agreement in 2012 which made it possible for the LRA to set up a kiosk in Pag-IBIG’s Housing Operations in the NCR. “With the agreement, Pag-IBIG can verify or validate the land titles submitted for evaluation and take-out. It can also check the authenticity of titles being surrendered as collateral to the loan. On the other hand, members do not have to travel to and line up at the concerned RDs and wait for some time to claim their certified true copies, as the LRA kiosk will generate the copies needed by Pag-IBIG. The process of applying for a housing loan is now easier and more convenient for our borrowers, as they save time and transportation cost,” she said.

Pag-IBIG also sealed a partnership with the Bureau of Internal Revenue (BIR) for the use of the Electronic BIR Forms (eBIRForms) and the issuance of Electronic Certificate Authorizing Registration (eCAR). The partnership aims to authorize Pag-IBIG to file tax returns using eBIRForms and secure eCAR on behalf of its member-borrowers.

“These government-to-government partnerships of Pag-IBIG with LRA and BIR are among Pag-IBIG’s efforts that are aligned with President Rodrigo Roa Duterte’s directive to improve processing time of government transactions,” Mr. Moti said. (end)

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A bigger, better, and faster Las Pinas Member Services Branch (MSB) is now open to serve members in Las Piñas and adjacent barangays in Parañaque City. It used to be lumped with other government services and called Lingkod Pinoy Center at Robinsons Place in Las Piñas City.

“We have a bigger space and our services are now practically complete and made more accessible to our members in the area,” said Pag-IBIG Fund Officer-in-Charge Acmad Rizaldy P. Moti, who led officials of Pag-IBIG and its partner Robinsons Land Corporation (RLC) in the ribbon-cutting ceremony held recently to inaugurate the new branch.

OIC Moti thanked RLC for supporting the agency’s move to convert what used to be just a member services office into a full member services branch. RLC’s Operations Director for Luzon Malls Irving Wu also announced their plan to house nine more Pag-IBIG member services branches in Robinsons malls in other regions.

“Opening more branches is our way of bringing Pag-IBIG Fund’s various services to our members. They own the Fund and therefore deserve accessible quality service,” Moti pointed out.

To date, Pag-IBIG has 122 branches spread out across the country.

Member Services Cluster Acting Deputy Chief Executive Officer Alexander Hilario G. Aguilar, on the other hand, expressed elation over the opening of the branch. “Pag-IBIG started negotiating for a bigger space in Robinsons Las Piňas in April, 2016. Four months later, a memorandum of agreement (MOA) was forged and signed providing for a wider office space for a full services branch,” Aguilar recounted.

Among the services available at the new branch are: membership registration, acceptance of loan payments, issuance of member’s ID card, records verification, multi-purpose loan processing, receiving of housing and provident claims applications, and releasing of loan proceeds. (end)

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Under Pag-IBIG’s MPL program, members can borrow up to 80% of their total contributions with the Fund. Members can use the loan proceeds to pay for tuition and other school fees, medical expenses, purchase of furniture, minor home improvements, and other needs.

Acting Deputy CEO for Member Services Operations Cluster Alexander Hilario G. Aguilar said, “Pag-IBIG Fund also released an additional P759 Million in Calamity Loans in early 2017. These Calamity Loans helped 53,401 members who were affected by the typhoons in December 2016, particularly those in the Bicol and Southern Tagalog regions.”

Members can avail of a Pag-IBIG Calamity Loan to help them finance repairs of their damaged homes or help their families recover from the disaster. Members have 90 days after a declaration of State of Calamity in affected areas to file applications for the loan.

Mr. Moti added that Pag-IBIG is studying various options to make the MPL and Calamity Loan Programs more responsive to the needs of the members, citing President Duterte’s directive to make government programs accessible to the people.

“This 2017, we will unveil our new MPL and Calamity Loan processing system that will make the processing of loan applications faster and more efficient,” Mr. Moti said. (end)

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Pag-IBIG Fund and Caloocan North Mentors Ville Association Inc. (CNMVAI) recently led the ground-breaking ceremony of the “Mentors Ville 1” housing project. The project is located at Palmera Spring Ville, Camarin Road, Caloocan City. There will be 173 houses to be built on the 10,147 sq.m. lot.

“This is Pag-IBIG’s first housing project in Caloocan in partnership with a developer specifically for teachers. The beneficiaries have already been identified for the housing project and we hope that this will be an inspiration to provide more housing for teachers,” said Pag-IBIG Acting Deputy CEO for Home Lending Operations Cluster Marilene C. Acosta.

According to Pag-IBIG Acting Senior Vice President for Business Development Sector Benjamin R. Felix, Jr., there will be regular townhouse units and other units with firewall. Each unit has a lot area of 35 sq.m. and a selling price of PhP1.2 Million. “The housing project’s beneficiaries can avail of the units through Pag-IBIG’s End-User Home Financing program,” he explained.

CNMVAI President Ma. Luisa S. Dannug thanked Pag-IBIG and project developer Hauwei Builders & Development Corporation (HBDC) for helping realize the long-time dream of teachers of having their own home and said, “Tayo ay pinagpala sa araw na ito dahil binigyan tayo ng pagkakataon na matupad ang mga pangarap nating mga guro.”

DepEd Division of Caloocan Supervisor Ms. Connie Bunag also thanked both parties for giving teachers the opportunity to own a house.

Pag-IBIG signed a Memorandum of Understanding with the Department of Education (DepEd) as early as December 2, 2011 to give DepEd employees and teachers access to housing services such as housing loan counselling and pre-qualification creening, among others.

Formed on September 2014, CNMVAI is composed of 1,600 teachers from various public schools in North Caloocan. Through the organizational expertise of ISWEAR (Institute for Social Welfare of Educators And Researchers), it was created purposely to have a group focused on working towards the provision of housing to member-mentors of the government.

Last September 2015, in coordination with the DepEd Central Office, Pag-IBIG met with CNMVAI to further discuss the proposed housing project for teachers. Since then, Pag-IBIG has assisted CNMVAI in finding a potential partner-developer/proponent willing to undertake a housing project that is superior in terms of design but more affordable than the regular inventories offered by developers. Pag-IBIG also provided briefings on its programs to CNMVAI’s identified potential contractor/developer, conducted prequalification services to CNMVAI members, and used the data as basis for the type of housing units and package price that should be adopted.

CNMVAI finally found a partner in HBDC which accepted the challenge of offering an incity housing project that will provide higher-quality housing units that are very affordable to the teachers in North Caloocan. HBDC used to be a DepEd-accredited contractor for school buildings and acquired the one-hectare property for this project.

After a series of discussions on the unit design and package price, a partnership among HBDC (developer), CNMVAI (teachers-beneficiaries), and ISWEAR (mobilizer) was sealed last January 16, 2017. (END)

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Pag-IBIG Fund Officer-in-Charge (OIC) Acmad Rizaldy P. Moti thanked the participants for their commitment and stressed that the pledge is synonymous to the agency’s determination to keep itself graft- and corruption-free in all its transactions and to forestall any questionable deals.

The developers committed to transacting with Pag-IBIG with the highest degree of professionalism and business ethical standards; respect rules and regulations; observe accuracy and truthfulness in preparing documents; require employees to be fair and honest in their dealings; avoid any acts devoid of integrity and transparency; adopt best practices and ethical business policies; and be reliable and trustworthy in all partnership activities with the government.

“This is a continuation of Pag-IBIG’s innovative strategies to wipe out any trace of graft and corruption and to retain people’s trust in the Fund.” said Mr. Moti.

New Apec Development Corporation, a partner-developer which has stayed with Pag-IBIG for 15 years, commended the agency for living up to its commitment to its partners and shareholders. “All these years, Pag-IBIG Fund has remained true to its commitment of always ensuring the welfare of the Filipino people. (It) continues to inspire us in its leadership, professionalism, competence, and transparency,” said Ms. Anna Michelle Chua-Co, the company’s corporate secretary.

Pag-IBIG Fund OIC for Home Lending Operations Cluster Ms. Marilene C. Acosta, in her speech toward the end of the forum, expressed optimism that with the renewed commitment of the housing developers backing it, Pag-IBIG will reach its targets for 2017.

Pag-IBIG Fund initiated a nationwide simultaneous recitation and signing of the pledge by all its employees in 2014; introduced the pledge to its partners and stakeholders in 2015; and required its employees to renew their commitment by revisiting the pledge in 2016.

The Integrity Pledge has been recognized by the Association of Development Financing Institutions in Asia and the Pacific with a Gold Award as one of three outstanding corporate governance initiatives by Pag-IBIG Fund. Pag-IBIG Fund has been cited for promoting integrity practices, good governance, improved insurance programs for borrowers, and proper management of its acquired assets. (end)

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Sinabi din ni Moti, na tatlong sunod-sunod na taon nang nahihigitan ng mga opisina sa rehiyon ang National Capital Region o NCR sa halaga ng housing loan releases. Noong 2014 ay mas mataas ng halos P500 milyon ang halagang napahiram sa rehiyon kumpara sa sa NCR. Mas lamang naman ng P3.2 bilyon ang housing loan releases sa rehiyon kumpara sa NCR noong 2015; at mas mataas ng P2.9 bilyon ang halaga ng napahiram sa rehiyon kumpara sa NCR noong 2016.

“Halos 36,000 miyembro ng Pag-IBIG mula sa mga probinsya ang nagmamay-ari na ngayon ng bahay dahil sa mas pinasiglang programa sa pabahay ng Pag-IBIG,” dagdag ni Moti.

Batay sa datos ng ahensiya, P16.7 bilyon ang halaga ng housing loans ang napahiram ng Luzon offices ng Pag-IBIG, katumbas ng pagpapatayo ng 20,121 housing units noong 2016. Ang Visayas offices ay nakapagpatala ng halagang P6.7 bilyon halaga ng housing loans para sa pagpapatayo ng 7,814 housing units; samantalang ang Mindanao branches ay nakapag-pahiram ng halagang P6.6 bilyon na housing loan para sa 7,427 housing units.

“Isa itong magandang kaganapan, dahil sa matagal-tagal ding panahon ay palagiang nangingibabaw ang NCR offices sa housing loan portfolio ng Pag-IBIG. Naniniwala ako na ang pagdami ng mga miyembro sa mga rehiyon na humihiram para sa pabahay, ay isang magandang indikasyon ng isang masaganang ekomiya,” sabi ni Moti.

“Nangangako kami, na kung saan mayroong pangangailangan sa pabahay, ay naroon ang Pag-IBIG Fund upang tumugon at magbigay ng pagkakataon para sa lahat ngmiyembro na magkaroon ng sariling bahay,” pagtatapos ni Moti. (end)

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He added that housing loan releases in the regions have been outpacing the releases in NCR in the last three years. In 2014, home loan releases in the regions were almost P 500 million more than in NCR. In 2015, the gap between NCR and regions widened to over P3.2 billion. And in 2016, releases in the regions were P2.9 billion more than in NCR.

“Nearly 36,000 Pag-IBIG members in the regions are now new homeowners,” Moti added.

Data from Pag-IBIG Fund showed that Luzon branches delivered 20,121 housing units worth P16.7 Billion in 2016, Visayas with 7,814 units valued at P6.7 Billion, while Mindanao provided 7,427 units with a loan value of P6.6 Billion.

“This is a welcome development. For the longest time, Pag-IBIG NCR branches dominated the housing loan portfolio of the Fund. I think this shows that housing demand in other parts of the country is slowly gaining ground, which is also an indication of economic development,” Moti said.

“Where there is demand for housing, Pag-IBIG will always be ready to provide opportunities for home ownership to Pag-IBIG members,” he added.

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“Since we started the Expanded Raffle Promo last May 2016 up to January 31, 2017, Pag-IBIG has collected a total of PhP 528 Million worth of upgraded savings from our members who participated worldwide. This promo was well-received by our OFW-members in our runs from 2013 to 2015 initially for OFW-members; thus, we decided to expand its scope and include all qualified Pag-IBIG members, including our local members,” said Pag-IBIG Fund Officer-in-Charge Acmad Rizaldy P. Moti.

In the preliminary draw held last December 21, 2016, Lolita O. Albase and Imelda C. Cabading won PhP 500,000 and PhP 250,000, respectively. Ms. Albase, a government employee from Cagayan de Oro City, adds PhP 2,500 a month to her Pag-IBIG savings. On the other hand, Ms. Cabading, a job order employee in Makati City, saves PhP 1,300 on top of her monthly contributions.

Both local and OFW members have until March 31, 2017 to upgrade their savings and join the raffle promo. All they have to do is upgrade their Pag-IBIG savings to a minimum of PhP 600 a month to earn one electronic raffle number for every PhP 600 they save under Pag-IBIG. On May 1, 2017, Pag-IBIG Fund will hold a grand draw to pick the lone winner of the PhP 1 Million grand prize. The higher amount that members upgrade their savings, the more entries they have, and the more chances of winning.

“We also remind our members to secure their Membership ID (MID). The MID is required when they join the raffle promo. They may update their membership information through their Human Resource Department, or by visiting the Pag-IBIG website and clicking ’E-Services’ then ’Membership Registration’,” explains the Pag-IBIG OIC. “The MID number used in the promo should be the same as the one used in the remittance of upgraded Pag-IBIG I savings.”

Mr. Moti also encouraged inactive local and OFW members to reactivate their membership and join the raffle promo. “Inactive Pag-IBIG members may also participate in the promo by simply remitting PhP 600 per month,” he emphasized.

Winners are notified via telephone call, e-mail, or registered mail as detailed in their Pag-IBIG records. Winners of each draw will also be announced in Pag-IBIG’s official website and Facebook page. (end)

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“Pag-IBIG Fund actively contributes to the efforts of the national government and the housing industry to offer decent and affordable housing to the underserved sector,” Moti said, adding that the Pag-IBIG member-borrowers under socialized housing are mostly minimum-wage earners and individuals from low-income groups that include household helpers and public utility vehicle drivers who do not have access to the housing loan facilities of private financing institutions.

The Housing and Urban Development Coordinating Council set the socialized housing price ceiling at P450,000.

Moti explained that Pag-IBIG partnership with employers has become an effective strategy in providing socialized housing to the employees.

The partnership, according to Moti, allows employers to offer the housing units at a price lower than the appraised value.

He cited the housing project of Dole Philippines and the local governments of Malabon City and San Carlos City in Negros Occidental where the beneficiaries were able to purchase at only P450,000 the housing units that carry appraised values of more than P650,000. The Dole Philippines project has 144 duplex housing units, each having a 35 sq.m. housing unit in a 70 sq.m. lot area complete with partition for two bedrooms.

“This is made possible because our partners usually own the land like in the case of Dole, which also adopted the “sweat equity” concept in house building. In the same manner, LGU-owned properties are utilized for their housing projects and they waive development related fees,” Moti explained.

Under Pag-IBIG’s Affordable Housing Program for minimum-wage earners, qualified borrowers may avail of the subsidized interest rate for housing loans not exceeding P450,000 at a yearly rate of 4.5% for the first 10 years of a 30-year loan, with a monthly amortization of around P2,280 only. (end)

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“Pag-IBIG’s home lending operations doubled its efforts last year making the quarterly loan disbursements in 2016 the highest ever for each quarter, resulting in this historic accomplishment of the Fund. As early as November, the Fund already breached for the first time the P50 Billion mark in loan takeouts,” he added.

Moti, however, stressed that it is the number of Pag-IBIG members that the Fund was able to assist in acquiring homes that is more important to them.

"You should see the reaction of Pag-IBIG members whose housing loans were approved. The joy in their faces and their indescribable happiness, these continue to inspire us to do our best and work even harder," Moti said.

Moti said that Cabinet Secretary and Pag-IBIG Chairman Leoncio B. Evasco, Jr. directed them to continue to innovate and offer housing programs that would give access to decent and affordable housing to every Filipino family.

“We fully support the commitment of Secretary Evasco to provide more housing opportunities to Filipino families, particularly those belonging to the low-income segment,” Moti said.

Pag-IBIG has a yearly average housing unit delivery of 50,000 in the last five years (2011 to 2015). In terms of loan value, the Fund’s annual average during the same period is P36 Billion, reinforcing the Fund's standing as the biggest source of home financing in the country.

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In 2015, the Fund surpassed its previous records by declaring a dividend rate of 4.83%. For 2016, the Fund is giving more to its members by declaring a significantly higher dividend rate of 6.93%. This is much higher than the prevailing rates in the market like the less than 1% paid by banks on savings deposit.

“This is great news to the 17 million Pag-IBIG members who will directly benefit from the Fund’s accomplishments. Rest assured that the Pag-IBIG Board will continue to work hard so that what the Fund has already achieved will be carried on,” said Sec. Evasco.

The Pag-IBIG Fund Charter mandates that “no less than seventy percent (70%) of the annual net income of the Fund shall be paid to its members in the form of dividends”.

"So for 2016, we declared a dividend rate of 5.38%. However, the Fund was able to add 1.55% and effectively increased the rate to 6.93% because the Pag-IBIG Board declared an additional special dividend of PhP5 Billion from retained earnings. We were able to do this because we have adequately covered all risks in Pag-IBIG operation," Pag-IBIG President and CEO Atty. Darlene Marie B. Berberabe said.

The dividends will not be paid in the form of cash but will be credited proportionately to the members’ individual savings or Total Accumulated Value (TAV).

The TAV, which constitutes the sum of the member’s contributions, employer counterpart, and the dividends it earns every year, can be withdrawn in full upon membership maturity. It is government-guaranteed, and the dividends it earns are not subject to withholding taxes. While the mandatory monthly contribution for employed workers remains at PhP100, Pag-IBIG encourages its members to increase their savings and take advantage of the returns that the Fund provides.

Atty. Berberabe added, “I am very proud of Pag-IBIG for accomplishing this milestone. We’ve been steadily growing through the years, and we continue to best our achievements. The 25% improvement for dividend payout we declared for 2015 already met with a lot of approval from our stakeholders. This year, we have increased it even further by 56%, an unprecedented record by the Fund, by putting significant measures in place."

"Our members are now benefitting from the reforms we have implemented over the years. That is why, I hope that more of our Filipino workers, especially the OFWs and informal workers, will realize how beneficial a Pag-IBIG membership is," she said.

With a dividend earning higher than other financial instruments in the market, Pag-IBIG savings becomes a competitive and profitable investments option for Filipino workers.

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“Valentine’s Day is a day of love, hence it is our day – Pag-IBIG Day. Since 2012, it has become our tradition at Pag-IBIG Fund to celebrate Valentine’s Day with mass weddings for Pag-IBIG members who wished to legalize their union or renew their marriage vows. We want to assure the couple-participants that they have a reliable partner in Pag-IBIG as they prepare for the future of their families. We are now on our sixth year,” said Pag-IBIG Fund President and CEO Atty. Darlene Marie B. Berberabe.

She added, “The annual event is our way of promoting Pag-IBIG to Filipino workers who are not yet Pag-IBIG members. We do this via collaboration with local government units (LGUs) and other government agencies.”

From 2012 to 2016, the Fund was able to wed over 16,000 couples in 118 venues nationwide. The annual event strengthened Pag-IBIG’s linkage and cooperation with LGUs and regional offices of the Department of Tourism, since the venues were at some of the country’s top tourist attractions and chief cities and municipalities.

The event primarily targets Pag-IBIG Fund members and non-members who would want to legalize their unions, especially those who do not have the financial means to do so. It is a venue for Pag-IBIG to show that it is not only a savings institution and a provider of housing finance, but also a staunch supporter in the building of happy families – the family being the basic unit and pillar of society – through the formal union of couples.

Pag-IBIG provided most of the basic accessories to make the occasion more memorable to the couples, including bouquets and headdresses for the brides, and symbolic wedding rings. The Fund also prepared the couples’ first meal as husband and wife, standing in for the traditional reception after the wedding ceremony. A house-and-lot package, kabuhayan packages, and several special prizes were also raffled off to lucky couples.

“The event has fostered goodwill between Pag-IBIG and its members. We have become a significant part of the couples’ lives. We help them begin and build their lives together. As Pag-IBIG members, they qualify to avail of our benefit programs – from saving for their future to acquiring their own homes. This is something that we cannot quantify,” Atty. Berberabe added.

The “I Do, I Do!” event has won several awards for Pag-IBIG. In 2013, the event won the first Philippine Quill for a Government Communication Program from the International Association of Business Communicators (IABC) Philippines. The next year, it was given the Bronze Award by the Advertising Foundation of the Philippines for Advocacy Communications, for promoting the values of reverence for the family unit or marriage and responsible parenthood. On the same year, it was also cited by the TV show Philippine Book of Records as having the “most number of couples in a nationwide mass wedding.” Last year, the ASEAN Social Security Association (ASSA) gave it the Excellence Award under Strategic Communication. (end)

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“The Pag-IBIG Fund 2016 Accomplishment Report will gather Pag-IBIG stakeholders from both the public and private sectors. This annual event gathers together the Fund’s partners and stakeholders who will hear the state of the Pag-IBIG Fund,” said Pag-IBIG Fund President and CEO Atty. Darlene Marie B. Berberabe.

The event carries the theme “36 Years of Improving the Lives of the Filipino Workers” as Pag-IBIG also celebrates its 36th anniversary since its creation on December 14, 1980. The Fund will report milestones achieved in 2016, including its having the highest housing loan take-out and performing loans ratio in its history.

“We hope to see our partners in this meaningful occasion. Our stakeholders include our members, as well as our partners such as housing developers, employers, banks, collection agencies, government agencies, and other associations,” Atty. Berberabe added.

In 2014, Pag-IBIG gathered its stakeholders for the first time to report on the previous year’s accomplishments. Since then, it has held an annual report to apprise its stakeholders. (end)

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“Pag-IBIG’s recognitions affirm the efforts of the Fund to put a premium on good governance initiatives and financial reporting, as we are guided by excellence and integrity in our performance and dealings with our stakeholders. We work towards reaching and even exceeding our targets with utmost regard to doing the work with integrity of the agency and its people. We have been institutionalizing measures that promote good governance,” Pag-IBIG Fund President & CEO Atty. Darlene Marie B. Berberabe said.

Pag-IBIG Fund won the Gold Award from the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) at its 39th Annual Meetings in Apia, Samoa in May 2016. The international non-governmental organization (NGO) recognized Pag-IBIG’s outstanding corporate governance initiatives on its three projects: (a) integrity practices and good governance among its stakeholders, (b) improved insurance coverage for home borrowers, and (c) proper management of its acquired assets.

At the 33rd Board Meeting and Conference of the ASEAN Social Security Association (ASSA) in Manila last September 2016, Pag-IBIG had the most projects, numbering seven, which were presented with the Excellence Award among 19 member-agencies. Mr. Ng Chee Peng, ASSA Chairman and Chief Executive Officer of the Central Provident Fund Board in Singapore, presented the awards for the following Pag-IBIG projects: Pag-IBIG Loyalty Card and Group Housing Loan Program under Innovation; Outsourcing of Collections of Delinquent Accounts through Collection Agencies under Transformation; Pag-IBIG Overseas Filipino Worker (OFW) Center under Customer Service; I Do, I Do! Araw ng Pag-IBIG and Alam mo ba? Series under Strategic Communication; and OFW Dagdag-Ipon Raffle Promo under Financial Literacy.

Last October 2016, the Association of Government Accountants of the Philippines, Inc. (AGAP) gave Pag-IBIG Fund its second Most Outstanding Accounting Office Award at the group’s annual convention in Bohol. The Most Outstanding Accounting Offices are chosen yearly by AGAP based on the recommendations from the Commission on Audit (COA). State auditors evaluate nominees based on the timeliness of submission of financial reports and the accuracy in reporting the financial statements.

“Winning the Most Outstanding Accounting Office Award for two years in a row is an invaluable feat for us in Pag-IBIG. We thank AGAP and the auditors in COA for recognizing our efforts in complying with the highest standard of quality and transparency in reporting our financial performance. As administrators of the Filipino workers’ fund, nothing is more important to us than the trust of every Pag-IBIG member in the way we manage their fund. Our second Most Outstanding Accounting Office Award is another recognition that we go to great lengths to safeguard our members’ savings,” said Atty. Berberabe.

Earlier in 2016, Atty. Berberabe was also awarded the Rotary International 2016 Golden Wheel under the Government Corporate Finance category. Rotary International District 3780 recognized Atty. Berberabe for her outstanding performance and for having exhibited high ethical and moral standards in leading Pag-IBIG Fund.

On January 27, 2017, Pag-IBIG is set to present its 2016 Accomplishment Report to the Fund’s stakeholders and members at the SMX Convention Center in Pasay City. The annual event, which started in 2014, is also expected to highlight the milestones of Pag-IBIG in the past years. (END)

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Pag-IBIG Fund made this commitment after it enhanced its procedure for housing loan transactions, effectively cutting the processing time from 27 days to 20 days from application to release of proceeds, and reducing the number of requirements from 14 to 7 documents.

“This is in line with the thrust of the new administration to enhance public service,” Pag-IBIG Fund President and Chief Executive Officer Atty. Darlene Marie B. Berberabe explained, adding that the Fund continuously reviews its procedures to improve its transactions process for the benefit of Pag-IBIG members and the public.

Pag-IBIG Fund offers the End-User Financing (EUF) Program, which allows qualified Pag-IBIG members to avail of as much as PhP 6 Million loan for home acquisition or construction, and the Affordable Housing Program (AHP) exclusive for minimum-wage earners.

Atty. Berberabe encouraged Pag-IBIG members to avail of the Fund’s housing loan programs.

“The Pag-IBIG housing loan programs come with great features including the market-competitive interest rates, which can be as low as 5.5% per annum for the EUF and 4.5% for the AHP. Up to three borrowers may qualify for a single loan while a single borrower can avail of multiple loans at the same time subject to eligibility,” Atty. Berberabe said.

She further explained that the 5.5% interest rate is for a 1-year repricing period, while the 4.5% rate for affordable housing is subsidized for 10 years.

Another advantage for Pag-IBIG housing loan borrowers, according to Atty. Berberabe, is the improved features of the Mortgage Redemption Insurance (MRI) now with a premium of only P0.23 per P1,000 from the previous P0.41. But while premiums have been cut by 44%, the benefits have been expanded. With the new insurance, also covered now are total permanent disability and terminal illness, both of which were not offered by the previous insurance provider. Plus, the MRI now comes with burial benefits to further extend help to the heirs of the deceased borrower.

The processing time for insurance claims of housing loan borrowers was likewise reduced from 30 days to just 1 day.

“With the improved processes and the best-ever housing loan features, this is a good time for Pag-IBIG members to avail of Pag-IBIG housing loans,” Atty. Berberabe said.

Pag-IBIG Fund is set to give its 2016 annual accomplishment report to the Fund’s stakeholders and members on January 27, 2017 at the SMX Convention Center in Pasay City. The event, which started in 2014, is also expected to highlight the milestones of Pag-IBIG Fund in the past years. (END)

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“With the declaration of the state of calamity in the provinces of Albay, Catanduanes, and Camarines Sur, and in Calapan City, we are making available our Calamity Loan Program to those who have been affected by the typhoon. We have earmarked PhP 4.6 Billion for calamity loan assistance to our members who are hardest hit by Nina. Our branches in the Bicol Region and South Luzon Area are ready for the members’ applications. We will ensure that our branches have enough personnel to assist our members availing of the loan,” said Pag-IBIG Fund President and Chief Executive Officer Atty. Darlene Marie B. Berberabe.

There are 261,300 Pag-IBIG members in Bicol. The members will be assisted by the branches in Legazpi, Naga, and Virac. There are 768,000 members in Southern Luzon. The Pag-IBIG branches in the cities of Batangas and Lipa in Batangas; Calamba, San Pablo, and Sta. Rosa in Laguna; Calapan, Oriental Mindoro; Puerto Princesa, Palawan; and Lucena, Quezon will be ready to provide the service.

“The Pag-IBIG Calamity Loan has been designed with member benefit and assistance as the primary objective. Not only is our 5.95% interest rate the lowest among government institutions, we also offer a 3-month grace period for loan payments. Our member-borrowers may start paying only on the 4th month, giving them time to attend to the urgent concerns of their families and recover from the effects of the calamity. Applications must be filed within 90 days from the time a state of calamity has been declared in the area,” Atty. Berberabe said.

Pag-IBIG housing loan borrowers, on the other hand, may file for insurance claims on their properties damaged by the typhoon. For details, they may call the Pag-IBIG hotline 724-4244.

The Pag-IBIG Calamity Loan is available to eligible members living in areas that have been declared under the state of calamity. To qualify, members must have at least 24 monthly contributions, and must not be in default in their payments of their Pag-IBIG Housing Loan or Multi-Purpose Loan, if they have these. Members may avail of a loan up to 80% of their total accumulated savings, at an annual interest rate of 5.95%, the lowest in the market. Calamity loan applicants must submit an application form and two valid IDs, with at least one bearing an address showing that they reside in the area declared under state of calamity. The Pag-IBIG Loyalty Card may be presented as one of the two IDs.

“To further assist our housing loan borrowers, we also requested our accredited developers to help identify and document which of their projects taken-out through Pag-IBIG were affected by the typhoon. I also instructed the deployment of our inspectors and appraisers to help identify the extent of the damage in the affected areas and to provide information to our members who have potential claims,” Atty. Berberabe added.

Members may call the Pag-IBIG hotline or visit its website (http://www.pagibigfund.gov.ph) or Facebook Page (https://www.facebook.com/PagIBIGFundOfficialPage/) to download copies of the required forms and for more information. (end)

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