Year 2018 Press/Photo Release

Pag-IBIG Fund extended half a billion pesos or P500.43 million in cash loans to 23,153 borrowing overseas Filipino worker-members (OFW-members) from January to October this year, posting a 228% increase from the same period in 2017’s P152.69 million in cash loans to 6,731 OFW-borrowers.

For OFW-members’ housing needs, Pag-IBIG Fund released P12.95 billion to 12,152 OFW families from January to September 2018.

Speaking on behalf of Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti, Deputy CEO for Member Services Cluster Alexander Hilario G. Aguilar reported the agency’s accomplishments at its 2018 OFW Day and Fund Coordinators General Assembly.

“Our OFW-members have a steady partner in Pag-IBIG Fund. We support President Rodrigo Roa Duterte’s social development program through our cash and housing loans. Pag-IBIG Fund also ensures that our housing programs are aligned with the BALAI Filipino (Building Adequate, Livable, Affordable, and Inclusive Filipino Communities) program led by Secretary Eduardo D. del Rosario, the Chairperson of the Pag-IBIG Fund Board of Trustees and Housing and Urban Development Coordinating Council (HUDCC),” DCEO Aguilar pointed out.

As of October 2018, Pag-IBIG Fund’s active OFW-members rose to 1,139,785 or 40% higher compared to only 816,128 last October 2017.

“Membership savings collections further went up to P2.26 billion in the first 10 months of the year, higher by 26% or P472 million more than the P1.78 billion collected for the same period in 2017. OFW-members saved P1.72 billion under Pag-IBIG 1 savings program, and P541 million under the voluntary Modified Pag-IBIG 2 (MP2) savings program,” Mr. Aguilar further reported.

Also at the event, Pag-IBIG Fund recognized its partners from government, non-government organizations and other private entities who supported the Fund’s programs for its OFW members.

Pag-IBIG Fund has 23 overseas posts worldwide to serve OFW-members: 9 in the Middle East, 4 in Europe, 8 in Asia-Pacific, and 2 in North America. In the Philippines, the OFW Center is located at the Pag-IBIG Fund International Operations Group (PIOG) office, 6th floor, Justine Building, 317 Sen. Gil Puyat Avenue, Makati City. (END)

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“The performance of Pag-IBIG Fund in the last 10 months have been extraordinary. Strong demand for our housing loans with the lowest rates and improved efficiency in internal processes have led to bigger home loan disbursements and more Filipino families being able to acquire decent shelter. This greatly contributes to the anti-poverty measures set by the administration of President Rodrigo Roa Duterte and the BALAI Filipino (Building Adequate, Livable, Affordable, and Inclusive Filipino Communities) program which is the prime initiative of the government’s key shelter agencies,” said Sec. Eduardo D. del Rosario, who heads both the Housing and Urban Development Coordinating Council (HUDCC) and the Pag-IBIG Fund Board.

In the last 10 months, Pag-IBIG housing loan releases have already exceeded set targets with loans amounting to P58.78 billion, which funded homes of 70,561 families. The amount of home loans released and number of borrowers from January to October are 15% and 11% higher than the P51.00 billion released to 63,496 families in the same period in 2017.

“Pag-IBIG Fund’s performance in October stands out as the best month so far this year in terms of our home loan disbursement. In the last five years, December has always been the month with the highest home loan disbursement. Thus, when we achieve near December-level disbursements, we are happy because these signify our members’ satisfaction with Pag-IBIG Fund’s housing programs as we help more members with their housing needs,” explained Pag-IBIG Fund Chief Executive Officer (CEO) Acmad Rizaldy P. Moti.

CEO Moti added that Pag-IBIG Fund’s low interest rates fueled the high disbursement in October.

“We have adjusted our rates for our two housing programs. Our affordable housing program, which is exclusively for minimum-wage and low-income earners, offers the lowest rate of only 3% per annum for loans up to P580,000. We also have the regular housing program with market-competitive interest rates of as low as 5.375% per annum for loans up to P6 million,” he said.

CEO Moti also said that if the demand for Pag-IBIG housing loans is sustained in the next two months, the agency will be able to release P73 billion to P75 billion worth of housing loans, higher by up to P3.5 billion than its P71.5 billion annual target. (END)

Pag-IBIG Fund currently offers the best rates in its loan programs. Pag-IBIG home loans offer the lowest rate of 3% per annum for loans up to P 580,000 under the Affordable Housing Program and rates as low as 5.375% per annum for loans up to P 6 million under the Fund’s regular housing loan program. Meanwhile, Short-Term Loans or cash loan programs known as Multi-Purpose Loan and Calamity Loan come with rates of 10.5% per annum and 5.95% per annum, respectively.

“The year is not over yet but Pag-IBIG Fund already performed better than expected. There was strong demand for and availment of our housing and cash loans in the last three quarters. We are very confident that the rates of Pag-IBIG Fund will remain low and we don’t foresee an increase in housing interest rates in the next few years because of the strong financial standing of the Fund. These low rates directly benefit Pag-IBIG members and contributes greatly to the anti-poverty agenda of the administration of President Rodrigo Roa Duterte and the BALAI Filipino program of the government’s housing sector,” said Sec. Eduardo D. del Rosario, Chairperson of the Housing and Urban Development Coordinating Council (HUDCC) and Pag-IBIG Fund Board.

From January to September, Pag-IBIG released over P 51.76 billion to help borrowers buy 62,665 homes. Cash loans, on the other hand, amounted to P 37.42 billion which was released to more than 1.8 million borrowers. Home loans released in the last nine months are higher by 14% in terms of amount released and 11% higher in the number of homes financed compared to the same period last year. Cash loans, on the other hand, remained steady but the number of loans approved increased 7%.

“Aside from the strong demand for our home loan programs, our efforts to improve our home loan portfolio have paid off. We maintained our performing loans ratio at 90% even as we cater to minimumwage earners who are shunned by banks. And because we are now more efficient, we were able to achieve double digit growth in our home loan collections. We collected P 41.49 billion in home loan payments from January to September. This is 10% higher than the P 37.80 billion we collected in the same period last year. Cash loan payments amounted to P 40.08 billion, which is an increase of 2% from 2017,” said Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti.

CEO Moti added that with such strong financial showing, Pag-IBIG Fund will again achieve recordbreaking income in 2018, higher than the P 30.27 billion net income the Fund posted in 2017.

“We expect to maintain this upward trajectory until the year ends. So, we are set to surpass our P 30.6-billion net income target by P 1 billion or P 2 billion despite offering such low rates. This is the ultimate win-win situation because our borrowers are treated to one of the lowest, if not the lowest, rates in the market. The low rates fuel demand, which in turn helps improve our net income. And when our net income is high, all Pag-IBIG members can expect to benefit from dividend payouts which are much higher than what they earn from other financial institutions. We foresee our dividend rate to be somewhere between 6.5% and 7%, which will be credited to members’ accounts early next year. All these benefits are being enjoyed by our members without increasing the monthly mandatory membership savings of only P100 since 1982. This really is what Lingkod Pag-IBIG is all about,” CEO Moti said. Hide this content.

The number of socialized homes financed from January to September this year is 15% higher than the 16,505 homes funded in the same period last year. The amount disbursed for socialized housing is also 24% higher than the P6.017 billion released in January to September 2017.

By the end of 2018, Pag-IBIG Fund aims to finance 26,709 units worth P8.873 billion under socialized housing.

Socialized housing loans make up 31% of all homes financed by Pag-IBIG Fund since January. The program benefits minimum- and low-wage workers who are usually shunned by banks.

“Socialized housing is designed especially for the minimum- and low-wage workers. President Rodrigo Roa Duterte directed that there be government programs catering to this marginalized sector, hence, we have this housing program that caters to their financial capacity. This is the essence of BALAI Filipino (Building Adequate, Livable, Affordable, and Inclusive Filipino Communities) – decent shelter for every Filipino family,” said Secretary Eduardo D. del Rosario, Chairperson of the Housing and Urban Development Coordinating Council (HUDCC) and the Pag-IBIG Fund Board of Trustees.

Socialized housing loans are up to P580,000 for a 32-square-meter residential unit in a horizontal housing project. Under its Affordable Housing Program, Pag-IBIG Fund now offers the lowest interest rate of 3% per annum, which is 33% lower than the previous 4.5% per annum.

Pag-IBIG Fund subsidizes these low interest rates through its tax savings, being a taxexempt agency as specified under Republic Act No. 9679.

“Our charter allows Pag-IBIG Fund to offer the lowest rates for minimum- and low-wage workers. And because of the Fund’s better-than-expected financial performance, we see no reason to increase the 3% per annum subsidized rate in the near future. Unlike other institutions, we have a 100% loan-to-value ratio in socialized housing program wherein borrowers don’t have to pay for equity when they apply for a socialized housing loan with Pag-IBIG Fund,” said Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti. (END)

“These Pag-IBIG short-term loans are a big help in augmenting the financial needs of our Filipino workers, especially those that were affected by calamities. The interest rate for the Pag-IBIG Calamity Loan is the lowest in the market at 5.95% per annum. From July to September 2018 alone, Calamity Loan disbursements reached P1.03 billion, which benefited 80,698 families affected by the onslaught of typhoons and heavy rains caused by habagat or the southwest monsoon. On the other hand, P12.18 billion was disbursed for MPL to assist the financial needs of 597,238 borrowers,” Housing and Urban Development Coordinating Council (HUDCC) and Pag-IBIG Fund Board Chairperson Sec. Eduardo Del Rosario said.

To address the increasing number of Pag-IBIG loan borrowers, the Fund established service desks in various municipalities and malls to receive loan applications under the File Anywhere campaign, allowing convenience and accessibility to its members who may want to avail of Pag-IBIG Fund’s services.

“Consistent with our Lingkod Pag-IBIG service, we want our members to be able to transact their business with Pag-IBIG Fund at any of our 133 branches and service desks nationwide to relieve them of having to travel to a particular branch or city just to file their loan application. We upgraded our system, primarily, so that we remain responsive to our members’ needs,” Pag-IBIG Fund Chief Executive Officer (CEO) Acmad Rizaldy P. Moti said.

Pag-IBIG Fund implemented an upgrade of its system in 2017. Member profiles and data were migrated and consolidated into a master database to allow easy access of the member’s info from any Pag-IBIG Fund branch. The migration process, however, affected the processing time of the loan applications, which prompted complaints from Pag-IBIG members.

“2017 and the first half of 2018 was a very challenging time for us. On one hand, we know that our members depend on their Pag-IBIG loan proceeds for their financial needs and they need it immediately. On the other hand, we also know that this little sacrifice will result in better returns in the future. Our Pag-IBIG staff worked double-time to fine-tune the system. Now that it is stabilized, we are ready to accommodate future loan applications faster. In fact, the number of transactions being processed in just over a day has been increasing. It is possible that this will become our standard in processing STL applications in the future. By the end of 2017, we disbursed about P46.75 billion in STL. At the rate that we are processing our loan applications now, PagIBIG Fund could easily process and disburse about P48 billion to P49 billion by the end of the year. We are ready to serve our members and help them fully benefit from their Pag-IBIG Fund contributions,” CEO Moti added. (END)

From January to September this year, Pag-IBIG Fund housing loan releases amounted to P51.76 billion, helping 62,665 families acquire their own homes. Out of all homes financed in the last nine months, 31% or 19,189 are socialized housing units with an aggregate value of over P7.44 billion.

“The year is not over yet but Pag-IBIG Fund already breached the P50-billion mark in its housing loan releases. This is a remarkable achievement because this is the first time that the P50-billion mark was reached in only nine months. The Fund’s accomplishment contributes greatly to the anti-poverty agenda of the administration of President Rodrigo Roa Duterte. Under the BALAI Filipino (Building Adequate, Livable, Affordable, and Inclusive Filipino Communities) program, we are committed to bringing housing opportunities to every Filipino family,” said Housing and Urban Development Coordinating Council (HUDCC) and Pag-IBIG Fund Board Chairperson Eduardo D. del Rosario.

Pag-IBIG Fund Chief Executive Officer (CEO) Acmad Rizaldy P. Moti said that the Fund is eyeing the release of P73 billion to P75 billion of housing loans, higher by up to P3.5 billion than its P71.5 billion annual target.

"We assure our members that Pag-IBIG Fund will continue with its low interest rates in our housing programs. This is mainly due to our strong financial performance and our members’ continued trust in the agency, as can be seen by the high availment of PagIBIG housing loans. Current rates are pegged at only 3% per annum for loans up to P450,000.00 under Pag-IBIG Fund’s Affordable Housing Program while our regular housing program offers as low as 5.375% per annum for loans as high as P6 million,” CEO Moti said.

In 2017, Pag-IBIG Fund achieved its best year ever, recording its highest housing loan releases amounting to P65.1 billion, which enabled the Fund to provide homes to 80,964 families. (END)

"Among President Rodrigo Roa Duterte's directives is prioritizing workers' benefits. It is important that Filipino workers enjoy government benefits like those from Pag-IBIG Fund," said Pag-IBIG Fund Board of Trustees and Housing and Urban Development Coordinating Council (HUDCC) Chairperson Eduardo D. del Rosario.

Pag-IBIG Fund Chief Executive Officer (CEO) Acmad Rizaldy P. Moti added, "The ongoing Penalty Condonation Program or PenCon is specific to employers who deducted their employees' monthly members' savings (MS) but did not remit these to Pag-IBIG Fund. We encourage these employers to take advantage of the PenCon and comply with the program, and enable their employees to avail of Pag-IBIG Fund benefits and services."

The Penalty Condonation Program gives 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 Fund and remit their employees' members' savings. Also covered under this program are employers who have pending applications for plan of payment.

Employers who opted for plan of payment will be granted discount on the total assessed penalties (TAP). A 70% discount on the TAP will be given to employers who will fully settle their total unremitted monthly mandatory savings, deprived dividends, and the remaining 30% of the TAP. Other employers who signified their intent to pay in full but later on opted for a plan of payment will be granted discount based on the settlement term.

Employers are required to accomplish the Application for Penalty Condonation form (For Employers Who Deducted MS but Failed to Remit, HQP-PF-318), Membership Savings Remittance form (MSRF, HQP-PFF-053), payroll for the applicable period or SSS R-3, and other required supporting documents. These documents are submitted to the Pag-IBIG Fund branch which covers the employer. Only applications with complete documents will be accepted and processed. Once approved, the employer will receive a Notice of Approval (NOA) from the branch.

Pag-IBIG Fund Deputy CEO for Member Services Cluster Alexander Hilario G. Aguilar emphasized,"The PenCon started last June 26, 2018 and will last until June 26, 2019. We have already informed employers about this program through letters, email, company representatives, and phone calls. Eligible employers may avail of this program within one year. Those who failed to avail of the PenCon will continue to incur penalties on their unremitted savings and will be held criminally liable and prosecuted in accordance with the penal provisions of R.A. 9679. Employers who want to avail of the PenCon must visit the Pag-IBIG Fund branch in their area."

Another PenCon for employers was also offered starting mid-2017, to help them settle their arrears in the remittance of their employees' monthly membership savings. This earlier program was offered to unregistered or registered but delinquent employers who have coverable employees from whom they did not collect monthly membership savings from. (END)

Over P32.71 billion worth of housing loans were released in the first half of 2018, a 13% or almost P4 billion increase compared to similar period in 2017. This translates to 40,094 families served by Pag-IBIG Fund from January to June 2018, 11% more than the 36,139 families served in the 1st half of 2017.

“Pag-IBIG Fund is on track, not only in carrying out their mandate to provide shelter financing for our Filipino workers, but also in following President Rodrigo Roa Duterte’s directive to provide for the unserved and underserved sectors. I am happy to know that 32% of the number of units that Pag-IBIG Fund has financed in the 1st half of the year are under the socialized housing program. This is in keeping with the housing sector’s BALAI Filipino (Building Adequate, Livable, Affordable, and Inclusive Filipino Communities) program,” Housing and Urban Development Coordinating Council (HUDCC) Chairperson Sec. Eduardo D. del Rosario said.

Complementing its housing mandate, Pag-IBIG Fund also performed well in promoting savings among its members. For the 1st half of 2018, Pag-IBIG members saved P18.46 billion, up by 4% from the P17.69 billion of the first six months of 2017.

“Our campaigns promoting Pag-IBIG Fund as a viable savings facility are now paying off. Our members are recognizing the advantage of saving for their future through PagIBIG Fund. Not only do we see an increase in the collections from the regular, mandatory Pag-IBIG savings program, we have also seen a surge in applications for the voluntary Modified Pag-IBIG 2 (MP2) savings program. This only means that we have gained the trust of our members in terms of financial management,” Pag-IBIG Fund Chief Executive Officer (CEO) Acmad Rizaldy P. Moti said.

In the 1st half of 2018 alone, MP2 savings collections amounted to P1.57 billion, exceeding the P1.30 billion 2017 total MP2 collections.

“We are hitting the targets we have set for the first two quarters, so I’m positive that we can accomplish our goal for the year and exceed what we have achieved last year,” CEO Moti added.

Pag-IBIG Fund declared 2017 as its best year ever after recording its highest ever housing loan take-outs of P65.1 billion, and member savings collections of P36.27 billion. The agency aims to release P71.5 billion in home loans and collect P38.40 billion for members’ savings by end of 2018. (END)

Pag-IBIG Fund posted a 19% year-on-year increase in its home lending in Mindanao for the first half of 2018, surpassing its feat for the same period in 2017. Chief Executive Officer (CEO) Acmad Rizaldy P. Moti made the report at the Fund’s 2018 First Semester Home Lending Accomplishment Report for Mindanao held in Davao City.

From January to June this year, Pag-IBIG Fund posted a total loan value of P3.82 billion in Mindanao home loans – higher by P610 million than 2017’s P3.21 billion. This translates to a 13% increase in residential units or a total of 4,060 in the first semester of 2018 against 2017’s 3,591.

CEO Moti said, “In recent months, we have seen more Mindanaoans turning as homeowners. This is the realization of President Rodrigo Roa Duterte’s social agenda amplified by BALAI Filipino (Building Adequate, Livable, Affordable, and Inclusive Filipino communities) program led by Secretary Eduardo D. del Rosario, Chairperson of the Housing and Urban Development Coordinating Council (HUDCC) and the Pag-IBIG Fund Board of Trustees.”

He also said that Pag-IBIG Fund appreciates partner-developers. Top-performing developers were recognized at the event in terms of takeout loan value, performing loans ratio, performing accounts ratio, and conversion.

“Through the quality accounts they pass on to Pag-IBIG Fund, our partner-developers give more Filipinos the opportunity to own a home,” he added. Corporate-wide, Pag-IBIG Fund targets P71.5 billion in home loans by the end of 2018. (END)

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Pag-IBIG Fund held its 1st semester Home Lending Accomplishment Report in North Luzon and extended its appreciation to the regions’s housing developers for delivering quality accounts that led to its high home lending achievement.

Pag-IBIG Fund released over P32.7 billion in housing loans in the first half of 2018, 13% higher than the 2017’s figure for the same period, setting yet another record in its history.

With Pag-IBIG Fund’s steady growth, Secretary Eduardo D. del Rosario, Chairperson of the Housing and Urban Development Coordinating Council (HUDCC) and the Pag-IBIG Board of Trustees, cited the Fund for fully supporting President Rodrigo Roa Duterte’s development agenda and the BALAI Filipino (Building Adequate, Livable, Affordable, and Inclusive Filipino Communities) program.

Speaking on behalf of Pag-IBIG Fund Chief Executive Officer (CEO) Acmad Rizaldy P. Moti, Deputy CEO Marilene C. Acosta thanked partner-developers for committing to grow yearly.“Thank you for partnering with us. Pag-IBIG Fund is now on track to hit its 2018 yearend takeout target of P71.5 billion,” she said.>

DCEO Acosta reported that Pag-IBIG Fund’s home lending in North Luzon has been on the uptrend since 2012. She said that from January to June 2018 alone, it released P5.45 billion in home loans, nearly half of the P11.35 billion released for the whole of 2017.

Top-performing North Luzon partner-developers were recognized in terms of takeout value, performing accounts ratio, performing loans ratio, and conversion. (END)

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Collections from the Modified Pag-IBIG 2 (MP2) savings increased by 175%, reaching P1.568 billion, or P997 million higher than the P571 million collected in the first half of 2017.

“Following President Rodrigo Roa Duterte’s directives to prioritize the needs of our citizens, Pag-IBIG Fund ramped up its savings campaign and further encouraged its members to save, and save more. This complements the housing sector’s BALAI Filipino (Building Adequate, Livable, Affordable, and Inclusive Filipino Communities) program in ensuring that Filipinos will have a better future, in which they have the double security of homeownership and savings. Pag-IBIG Fund has twin mandates on the provision of an effective savings mechanism and affordable housing finance to its members, the Filipino workers,” said the Chairperson of the Housing and Urban Development Coordinating Council (HUDCC) and Pag-IBIG Fund Board of Trustees, Secretary Eduardo D. del Rosario.

Pag-IBIG Fund Chief Executive Officer (CEO) Acmad Rizaldy P. Moti added that the P1.568 billion collected in the first half of 2018 under the MP2 savings program is 121% of the total MP2 collection in 2017 amounting to P1.3 billion. “We already surpassed the 2017 figures, as more and more Pag-IBIG members opt to enroll with our additional savings program that is the MP2. Our MP2 savers even save more than the required minimum amount of P500 monthly,” he said.

On the increased savings collection, CEO Moti further noted, “Pag-IBIG Fund intensified our campaigns to encourage our members to save more with us. The ongoing DagdagIpon Raffle Promo urges our members to upgrade their savings. We also offer Penalty Condonation for eligible employers to settle their obligations with Pag-IBIG Fund and enable their employees to enjoy the benefits of Pag-IBIG membership.”

Pag-IBIG Fund’s savings programs provide Pag-IBIG members and retirees with high yield in terms of competitive dividend rates each year. For 2017, Pag-IBIG Fund declared an unprecedented 7.61% and 8.11% dividend rates for its Pag-IBIG 1 and MP2 savings programs, respectively. The dividends were credited to the savers’ respective Pag-IBIG 1 and MP2 accounts.

The MP2 savings program provides active Pag-IBIG members and retirees with another savings option aside from the Pag-IBIG 1 which is required by Republic Act No. 9679 or Pag-IBIG Fund Law of 2009. It has a term of five years and can be withdrawn after maturity. MP2 savers may opt to have an annual dividend payout or have this compounded. (END)

The amount released is 22% higher than 2017’s P3.788 billion for the same period. Pag-IBIG Fund aims to disburse a total of P8.873 billion by yearend of 2018 to finance 26,709 units under socialized housing.

“Socialized housing is designed especially for the low wage workers. President Rodrigo Roa Duterte directed that there be government programs catering to this marginalized sector, hence, we have this housing program intended for them. This is the essence of BALAI Filipino (Building Adequate, Livable, Affordable, and Inclusive Filipino Communities) – decent shelter for every Filipino family,” said Secretary Eduardo D. del Rosario, Chairperson of the Housing and Urban Development Coordinating Council (HUDCC) and the Pag-IBIG Fund Board of Trustees.

Socialized housing is worth from P300,000 to P450,000. Pag-IBIG Fund now offers the lowest 3% per annum interest rate - which is 33% lower than the previous 4.5% - and no equity required.

Pag-IBIG Fund subsidizes these low interest rates through its tax savings, being a tax-exempt agency as specified under Republic Act 9679.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said, ”The main driver of socialized housing is compliance among developers. They allot 15% of their development projects as socialized housing. This in turn helps low wage and minimum wage earners, who are the underserved sector, acquire a home of their own”.

With a reduced fire and allied perils monthly premium of only P79.69 and mortgage redemption insurance monthly premium of only P103.50, a member-borrower pays only P2,080.41 monthly amortization from the previous P2,651.50 for a P450,000 loan. (END)

The number of financed homes also increased by 11% from 36,139 in the first half of 2017 to 40,094 in the first half of 2018. Out of all homes financed from January to June, 31.5% or 12,639 are socialized housing units with an aggregate value of P4.859 billion.

Housing and Urban Development Coordinating Council (HUDCC) Chairperson Sec. Eduardo D. del Rosario said that he is pleased to know that Pag-IBIG Fund is exerting all efforts to support the call of President Rodrigo Roa Duterte to help uplift the lives of Filipino families through the provision of decent, yet affordable housing, which also contributes greatly to the BALAI Filipino (Building Adequate, Livable, Affordable and Inclusive Filipino Communities) program of the government’s housing sector.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said that the Fund targets the takeout of 92,259 housing units for 2018, which is worth P71.5 billion.

“With the amount of home loans released in the first half of 2018, I can confidently say that we are on track to reach our P71.5 billion target by end of the year,” CEO Moti said.

He added that if housing loan approvals were included, there will be an additional 15,000 housing units for a total of 107,259 homes and the aggregate value will reach P86.5 billion. Loan approvals refer to approved housing loan applications for which the proceeds have yet to be released pending the submission of post-approval requirements.

In 2017, Pag-IBIG Fund achieved its best year ever, recording its highest ever housing loan takeouts amounting to P65.1 Billion, which enabled the Fund to provide homes to 80,964 families. (end)

“Following President Rodrigo Roa Duterte’s directives to prioritize the needs of our citizens, Pag-IBIG Fund reduced the rates of the non-life insurance of home loan borrowers. With the more affordable insurance premium, borrowers can save on their monthly amortization which greatly helps the housing sector’s BALAI Filipino (Building Adequate, Livable, Affordable, and Inclusive Filipino Communities) program in ensuring that Filipinos will have access to affordable homes,” said Sec. Eduardo D. Del Rosario, Chairperson of the Housing and Urban Development Coordinating Council (HUDCC) and Pag-IBIG Fund Board of Trustees.

With the new non-life insurance broker, the basic premium rates for fire and other allied perils have been reduced to 0.1686 percent of the appraised value of the building from the previous rate of 0.40 percent resulting in savings of about 58 percent.

For home loans of P 1 million, this means that the premium payment has been reduced to only P117 from the previous P415. And for a home loan of P450,000, the premium has been reduced to P79 from P186.

“We bid out the new insurance broker for the non-life insurance last year and the contract was awarded in January 2018. With the new broker, we were able to reduce the rate by almost 60 percent. We also introduced value-added services which were not offered by the previous insurance provider,” said Pag-IBIG CEO Acmad Rizaldy P. Moti.

CEO Moti said that added benefits include: burial benefit of P 5,000; rental allowance of up to P 15,000 if the mortgaged home is damaged and becomes uninhabitable; family personal accident insurance coverage with an aggregate amount of P 500,000; and sabotage or terrorism coverage of up to P 150,000. Processing of claims will now also be more efficient and completed within seven days from the day of submission of complete documents, down from the previous 30 day-processing.

“Pag-IBIG Fund has always considered our members’ benefit, and we will not cease in finding ways to improve our service. The reduction of the insurance premium rates for non-life insurance will not only reduce the monthly amortization to be paid by the borrowers but they also have added benefits to enjoy. That’s what true Lingkod PagIBIG is,” CEO Moti said.(END)

On Tuesday (Jul. 31), the high court downgraded the syndicated estafa case against Lee to only simple estafa, which is a bailable offense.

“We're saddened by the recent turn of events in the Globe Asiatique scam case but we continue to trust in due process and our justice system. This recent decision of the Supreme Court does not mean that he is innocent of fraud. The trial will continue. We will continue to pursue what is in the best interest of the Fund, our members, and all the home owners and borrowers affected by Lee’s actions,” said Pag-IBIG Fund CEO Acmad Rizaldy P. Moti.

He continued, “Pag-IBIG Fund shall closely coordinate with the Department of Justice, being the lead counsel and public prosecutor, to determine the next steps we will take.”

In 2012, Delfin Lee, his son Dexter Lee, Christina Sagun, Cristina Salagan and Atty. Alex Alvarez were indicted for syndicated estafa after separate probes of the Department of Justice and the National Bureau of Investigation concluded that Lee and his cohorts used fake buyers and fraudulent documents to deceive Pag-IBIG Fund into releasing loan proceeds in the amount of P6.6 billion to his firm, Globe Asiatique Realty Holdings Corporation (GARHC).

Lee went into hiding to evade the case but he was nabbed by the police in March 2014. His cohorts are still at large to this day.

“I want to assure Pag-IBIG housing borrowers that they do not risk losing their homes because of the non-conversion from CTS to REM. The management of Pag-IBIG Fund has put safeguards in place to ensure that the home loan borrower’s rights are always protected. This is primordial as we implement the housing sector’s initiatives and President Rodrigo Roa Duterte’s directive to prioritize the delivery of reliable government services,” said Secretary Eduardo D. Del Rosario, concurrent Chairman of the Housing and Urban Development Coordinating Council and Pag-IBIG Fund Board of Trustees.

Pag-IBIG Fund CEO Acmad Rizaldy P. Moti added that the non-conversion to REM is unrelated to the risk of losing houses.

“Borrowers have no reason to worry because regardless of the conversion status of their properties, the only way they face the risk of losing their homes is if they are not paying their monthly obligations,” CEO Moti said.

“To safeguard the borrower, the CTS is assigned to Pag-IBIG Fund and annotated in the title as proof that the borrower purchased that property. Two, Pag-IBIG can sanction developers who fail to meet the conversion timeline. Lastly and most importantly, Pag-IBIG itself can do the conversion by using the retention fee deducted from the developer to make sure that these titles will be transferred under the names of the borrowers,” he continued.

While COA’s observations on the CTS-REM conversion was widely reported, it was largely ignored that state auditors gave Pag-IBIG another unqualified opinion which is the best opinion that a government agency or corporation can get from COA.

“We rendered an unqualified opinion on the fairness of presentation of the financial statements of the HDMF for the years ended December 31, 2017 and 2016 in accordance with [Philippine Financial Reporting Standards] PFRS. Some of the audit observations impact on the balances of the accounts presented in the financial statements. However, in aggregate, they do not exceed the material level set for the 2017 audit of accounts and transactions to warrant a qualified or adverse opinion,” the Auditor’s Opinion read.

Pag-IBIG Fund has now earned its sixth straight unqualified opinion from COA, breaking yet another record in the Fund’s 37-year history. (END)

In June, the Commission on Audit (COA) transmitted a copy of the results of the audit of the accounts and transactions of Pag-IBIG Fund for 2017 and 2016. State auditors gave Pag-IBIG another unqualified opinion which is the best opinion that a government agency or corporation can get from COA.

“In our opinion, the financial statements present fairly, in all material respects, the financial positions of HDMF as of December 31, 2017 and 2016, and its financial performance and its cash flows for the years then ended in accordance with Philippine Financial Reporting Standards (PFRS),” read the Independent Auditor’s Report.

Secretary Eduardo D. Del Rosario, concurrent Chairman of the Housing and Urban Development Coordinating Council and Pag-IBIG Fund, stated “This is Pag-IBIG Fund’s sixth consecutive unqualified opinion. This 6-peat achievement is yet another proof that Pag-IBIG Fund is working hard to serve our members while maintaining the sustainability of the Filipino workers’ fund which is in accord with the housing sector’s initiatives and President Rodrigo Roa Duterte’s directive to prioritize the delivery of reliable government services.”

“We, in Pag-IBIG, are delighted for having earned another unqualified opinion from COA. We concluded 2016 as a great year but our performance in 2017 was record-breaking, making it our best year ever!”, said Pag-IBIG Fund CEO Acmad Rizaldy P. Moti.

CEO Moti also clarified that contrary to reports, Pag-IBIG home borrowers face no risk in losing their homes based on a COA finding that 22,123 accounts were not yet converted from Contracts to Sell (CTS) to Real Estate Mortgage (REM).

“It is unfortunate that COA’s report has been misread. Let me clear things by saying that borrowers do not risk losing their homes on account of the non-conversion from CTS to REM. Pag-IBIG has safeguards in place to ensure that the home loan borrower’s rights are always protected. For one, the CTS is assigned to Pag-IBIG Fund and annotated in the title as proof that the borrower purchased that property. Two, we can sanction developers who fail to meet the conversion timeline. Lastly and most importantly, Pag-IBIG itself can do the conversion by using the retention fee deducted from the developer to make sure that these titles will be transferred under the names of the borrowers,” he said.

“Borrowers have no reason to worry because regardless of the conversion status of their properties, the only way they face the risk of losing their homes is if they are not paying their monthly obligations,” CEO Moti added.

While COA noted some observations in the report, the unqualified opinion stands as these observations are not enough to merit a lesser opinion.

“We rendered an unqualified opinion on the fairness of presentation of the financial statements of the HDMF for the years ended December 31, 2017 and 2016 in accordance with PFRS. Some of the audit observations impact on the balances of the accounts presented in the financial statements. However, in aggregate, they do not exceed the material level set for the 2017 audit of accounts and transactions to warrant a qualified or adverse opinion,” the Auditor’s Opinion read

Collections from the Modified Pag-IBIG 2 (MP2) savings program posted an even higher growth. MP2 savings totaled P1.14 billion, which grew by 151% compared to the P454.52 million collected in the same period in 2017.

“Following President Rodrigo Roa Duterte’s directives to prioritize the needs of our citizens, Pag-IBIG Fund ramped up its savings campaign and further encouraged its members to save, and save more. This complements the housing sector’s BALAI Filipino (Building Adequate, Livable, Affordable, and Inclusive Filipino Communities) program in ensuring that Filipinos will have a better future, in which they have the double security of homeownership and savings,” said Sec. Eduardo D. Del Rosario, the Chairperson of the Housing and Urban Development Coordinating Council (HUDCC) and PagIBIG Fund Board of Trustees.

Pag-IBIG Fund Chief Executive Officer (CEO) Acmad Rizaldy P. Moti added that in 2017, Pag-IBIG Fund collected its highest ever members’ savings worth P36.3 billion. This is higher by 11% or P3.5 billion than the P32.8 billion collected in 2016. It is also the first time that Pag-IBIG Fund recorded a P3-billion year-on-year growth on members’ savings collection.

CEO Moti also said that the P1.14 billion collected from January to May 2018 under the MP2 savings program is already equivalent to 88% of the P1.30 billion collected in 2017. “We expect to exceed the 2017 figures, as more and more Pag-IBIG members opt to enroll with our voluntary savings program that is the MP2. The minimum monthly savings in our MP2 is only P500 but members save more than the minimum,” he said.

The MP2 savings program is a voluntary savings program that provides active Pag-IBIG members with another savings option that yields higher annual dividend rates. The MP2 has a term of only five years. All savings, as well as dividends already earned under MP2, are guaranteed in full by the government.

For 2017, Pag-IBIG Fund declared an unprecedented 8.11% dividend rate for MP2. The dividends were credited to the savers’ accounts in the first quarter of 2018.

ENHANCED MP2 FOR 2018

CEO Moti added that Pag-IBIG Fund enhanced the features of the MP2 Program in July to cover even more members in the second half of the year. “We just approved the new guidelines to make all Pag-IBIG members eligible to enroll under MP2 regardless of their monthly income because the previous program was open only to members with monthly income exceeding P5,000. The new program also extends coverage to retirees. There’s a lot of clamor from retirees,especially those who retired from government service. They’re looking for savings mechanisms where they can grow their extra funds,” he said.

The enhanced MP2 program is open to former Pag-IBIG members with other sources of monthly income or pensioners, regardless of age, with at least 24 monthly savings in Pag-IBIG Fund prior to their retirement.

“We opened the MP2 program to more members to encourage them to save. We enjoin the public to save more in Pag-IBIG. If you’re looking for higher yield on your savings, this is the best time to grow your funds in Pag-IBIG. CEO Moti said.(END)

This year’s disbursement grew 26% compared to the P 3.165 billion released in the same period in 2017.

“Pag-IBIG’s tax exemption status enables us to subsidize the low rates for socialized housing loans that benefit minimum-wage earners. Pag-IBIG offers 3% per annum which is the best rate in the socialized housing market. This new rate is even more affordable than the previous rate of 4.5%. This is our contribution to President Rodrigo Roa Duterte’s pro-poor agenda and the BALAI Filipino (Building Adequate, Livable, Affordable and Inclusive Filipino Communities) program of the government’s housing sector,” said Secretary Eduardo del Rosario, Chairperson of the Housing and Urban Development Coordinating Council (HUDCC) and Pag-IBIG Fund Board of Trustees.

“The amount Pag-IBIG saves from its tax exemption is used to finance our socialized housing program. It is the Fund’s tax exempt status that enables us to make home ownership more affordable for the underserved sector,” said Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti.

Pag-IBIG members earning not more than P15,000 a month can now own a home for an all-time low monthly payment of ₱1,897. This applies to loans up to P450,000 which come with a low 3% interest rate for the first five years of the loan term.

In 2017, the Fund released P65.1 billion in housing loans to finance the acquisition of 80,964 homes. Of this amount, P8.9 billion or 24,705 homes were socialized housing units.

“Aside from reducing interest rates, we also made the insurance premiums more affordable and we no longer require borrowers to raise their savings when availing of a housing loan. These have resulted in even lower costs of owning a home, especially for minimum wage earners,” CEO Moti said. (END)

The housing loans helped 32,274 families acquire their own homes. Of these, 33% or 10,502 are homes acquired by minimum- and low-wage income earners.

Housing and Urban Development Coordinating Council (HUDCC) Chairperson Eduardo D. del Rosario said that he is pleased to know that Pag-IBIG is exerting all efforts to support the call of President Rodrigo Roa Duterte to help uplift the lives of Filipino families through sustainable social development programs, including the provision of decent, yet affordable housing, which also contributes greatly to the BALAI Filipino (Building Adequate, Livable, Affordable and Inclusive Filipino Communities) program of the government’s housing sector.

Del Rosario said that under the current administration, Pag-IBIG has so far financed 155,444 housing units worth P123.8 Billion covering the period July 2016 to May 2018. And of these, 31% are for socialized housing which are subsidized through the Fund’s tax savings.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said that the Fund targets the takeout of 92,259 housing units for 2018, which is worth P71.5 Billion of housing loans. Including the housing loan approvals, the number of units will increase to 103,509 units with value of P81.5 Billion. Loan approvals refer to approved housing loan applications but the proceeds are yet to be released pending the submission of postapproval requirements.

“With the amount of home loans released in the first five months of 2018, I can confidently say that we are on track to reach our target by end of the year,” Moti said.

In 2017, Pag-IBIG Fund achieved its best year ever, recording its highest ever housing loan takeouts amounting to P65.1 Billion, which enabled the Fund to provide homes to 80,964 families.(END)

Pag-IBIG Fund held the grand draw of its Dagdag-Ipon Raffle Promo Part 2 last 01 May 2018 in Cebu City, coinciding with the Labor Day celebrations for 2018.

Pag-IBIG member Agnes V. Delfin from Basco, Batanes won the P1 millioncash prize, while Shiela Mae P. Asuncion from Northern Iloilo, Charlie P. Galot from Makati City, and Yolanda L. Labella from Tagbilaran, Quezon, won the P500,000, P250,000, and P100,000 cash prizes, respectively

Locally-based members Linda P. Dagson, Serdel Joy H. Antonio, Paul S. Samosa, and Floride I. Racoma, as well as overseas workers Myra Liza D. Schmitz and Josephine S. Sandoy also won an OPPO F3 Plus smartphone each.

“The Pag-IBIG Fund raffle promo, which encourages the members to upgrade their savings with Pag-IBIG Fund, is an advocacy campaign of the agency. By encouraging the culture of savings, our 13.6 million members can fully enjoy the Pag-IBIG Fund benefits, not only in terms of applying for loans but also in maximizing the dividends they can earn. This concept is aligned with President Rodrigo Roa Duterte’s directive to provide our Filipino workers with access to social benefits. From the upgraded savings contributed by the 186,761 members who joined the promo, Pag-IBIG Fund was able to collect more than P1.2 billion. This will allow Pag-IBIG Fund to finance housing projects for low-income members,” said Pag-IBIG Fund Chief Executive Officer (CEO) Acmad Rizaldy P. Moti.

Pag-IBIG Fund Deputy CEO for Member Services Cluster Alexander Hilario G. Aguilar said,“There are no losers in this promo. While there are only selected winners for our prizes, every member who upgraded his savings has already won with the value of dividends that his Pag-IBIG savings will earn. Last year, we declared a 7.61% dividend rate, which is already higher than other savings instruments. This year, we are working hard to make it even better.”

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The high PLR shows that nine out of 10 of Pag-IBIG Fund’s housing borrowers regularly paid their monthly home loan amortizations, reinforcing the agency’s sustainability.

“PLR is one of the barometers of Pag-IBIG Fund’s sustainability. If our home loan borrowers regularly pay their monthly amortizations, our liquidity improves and we can plow the funds back to our housing portfolio so that more members, especially those with low income, can avail of home loan. This supports President Rodrigo Roa Duterte’s social protection agenda. It also aligns with the main objective of BALAI Filipino (Building Adequate, Livable, Affordable, and Inclusive Filipino Communities) program – to provide decent shelter for every Filipino family,” Housing and Urban Development Coordinating Council (HUDCC) and Pag-IBIG Fund Chairperson Eduardo D. del Rosario remarked.

Pag-IBIG Fund Chief Executive Officer (CEO) Acmad Rizaldy P. Moti said, “The high PLR, and conversely low non-performing loans ratio or NPLR, allows Pag-IBIG Fund to maintain low housing loan interest rates. We appreciate our member-borrowers for being conscientious in meeting their Pag-IBIG obligations. Our PLR went up by 15% in five years, from 75% in 2012 to 90.12% in 2017, thereby significantly improving our collections through the years.”

Pag-IBIG Fund generated P51.6 billion in housing collections in 2017, including collections from the sale of Real and Other Properties Acquired (ROPA) – an increase of 9% from the amount collected in 2016. This amount is also 13% above the collection target for 2017 and the highest in the history of Pag-IBIG Fund.

“We will intensify our collection strategies in the coming years so that more will benefit, in turn, from our housing program,” added Deputy CEO for Home Lending Operations Cluster Marilene C. Acosta.

To increase collections and improve its PLR, Pag-IBIG Fund outsourced its collection services by accrediting collection agencies starting 2013 and tele-collection companies beginning 2014.

Other factors that contributed to improved collections in 2017 were: regular sending of Monthly Billing Statement to home loan borrowers through outsourced service providers; providing additional payment facilities like Bayad Centers, SM Business Centers, Metrobank, LANDBANK, and M.Lhuillier; enhancing the text blast which includes payment reference numbers with the amount and due date; and, sending of email blast.

Of late, Pag-IBIG Fund has also partnered with EC Pay, Cashpinas, and Globe GCash for off-branch payments of housing loan and membership savings starting July 2, 2018. (END)

“Pag-IBIG Fund is happy to take part in the Labor Day celebration and support President Duterte in pursuing the rights and benefits of our Filipino workers. Being a true Filipino Worker’s Fund, Pag-IBIG Fund will continue to provide programs and services that will cater to the savings and housing needs of all Filipino workers,” said Chairperson del Rosario.

CEO Moti added, “Pag-IBIG Fund caters to the needs of all types of workers, not just those with formal employment. Workers in all sectors including those working in public or private companies, overseas or self-employed, and even those in the informal sectors or other working groups such as farmers, kasambahays, street vendors, and the likes can avail of our programs.”

Pag-IBIG Fund lowered its interest rates to make home acquisition more affordable to its members: 3% per annum for socialized housing loan worth P450,000 and below, and 5.375% per annum for one-year fixing for its regular housing loan. Pag-IBIG Fund’s savings programs also continue to be stronger, which allowed the Fund to declare a 7.61% dividend rate for its members in 2017. (END)

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Pag-IBIG Fund threw its full support behind this year’s Labor Day celebrations by offering its share of non-wage benefits for workers.

Pag-IBIG Fund, along with other government-owned and controlled corporations (GOCCs), drew up a package of non-monetary benefits for workers at a meeting spearheaded by the Department of Labor and Employment (DOLE). President Rodrigo Roa Duterte himself will announce the good news about the benefits at the Labor Day celebration in Cebu City on May 1, 2018. Close to 8,000 workers are expected to attend the event.

Speaking on behalf of Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti, Senior Vice President for Business Development Sector Fermin A. Sta. Teresa, Jr. said: “Workers can expect more housing incentives and greater home affordability as part of the benefits package that will be announced on Labor Day. This is our way of helping uplift the lives of our workers, as we align our programs with the BALAI Filipino (Building Adequate, Livable, Affordable, and Inclusive Filipino Communities) program led by Secretary Eduardo D. del Rosario, Chairperson of the Housing and Urban Development Coordinating Council (HUDCC) and Pag-IBIG Fund.”

Pag-IBIG Fund also committed to donate three house and lot packages, sourced from its foreclosed properties, to be raffled off during the Labor Day festivities. The special raffle is Pag-IBIG Fund’s way of honoring the Filipino workers and showcasing the agency’s mandate of providing shelter especially to the underserved sector of society. (END)

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“Last year, Pag-IBIG released P65.1 billion in housing loans, a 14% increase from 2016’s P57.3 billion, to finance 80,964 housing units. We have also reduced our interest rates to as low as 3% under our Affordable Housing Program so that our low-income earners can easily avail of our housing loan program. These are Pag-IBIG Fund’s ways to support President Rodrigo Roa Duterte’s directive in helping minimum-wage earners, and also the BALAI Filipino (Building Adequate, Livable, Affordable and Inclusive Filipino Communities) program led by Secretary Eduardo D. del Rosario, Chairperson of the Housing and Urban Development Coordinating Council (HUDCC) and Pag-IBIG Fund Board of Trustees,” Mr. Moti said.

Pag-IBIG Fund holds the bi-annual HOLAR in the country to keep its operations transparent by reporting its home loan accomplishments.

Pag-IBIG Fund Deputy CEO for Home Lending Operations Cluster Marilene C. Acosta highlighted, “North Luzon aggressively grew in 2017. We saw a 16% growth in loan value takeout from P9.74 billion in 2016 to P11.35 billion in 2017. The amount financed the purchase or construction of 11,772 housing units, up by 10% from 10,679 in 2016. From the regional takeout outside NCR, North Luzon contributed 30% of loan takeout and 29% of total housing units financed. Of the total socialized housing takeout in 2017 worth P8.9 billion, North Luzon released 10% or P893.14 million. This amount financed 2,174 housing units, which is 9% of the total 24,705 socialized housing units.”

“The North Luzon HOLAR is the fourth in the series. Our partner-developers play an integral part in Pag-IBIG’s accomplishments. We hope to strengthen our partnership in delivering affordable yet decent shelter to our members through this event,” said Pag-IBIG Fund Senior Vice President for Loans Operations Sector Fermin A. Sta. Teresa, Jr.

Aside from the top 10 developers, Pag-IBIG Fund also recognized the developers with highest conversion performance, performing accounts ratio, and performing loans ratio. (END)

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Joining the CEO were (top row, left to right): Pag-IBIG Fund Vice President for Home Lending Operations in Luzon Atty. Joseph P. Quiboloy, Trustee Crisostomo G. Gotladera, Deputy CEO for Home Lending Operations Cluster Marilene C. Acosta, and Acting Senior Vice President for Business Development Sector Benjamin R. Felix, Jr. and the representatives from the top 10 partner-developers (bottom row).

“In 2017, Pag-IBIG Fund posted record-breaking accomplishments in our housing programs. We breached the P60-billion mark and released P65.1 billion worth of housing loan takeout to finance 80,964 residential units. This includes P8.9 billion to finance 24,705 socialized housing units, which comprised 30.5% of the total units. These, along with our reduced interest rates of as low as 3%, are Pag-IBIG Fund’s way of supporting President Rodrigo Roa Duterte’s directive to shelter our fellow Filipinos, especially the low-income and minimum-wage earners; and also the BALAI Filipino (Building Adequate, Livable, and Affordable Filipino Communities) program led by Secretary Eduardo D. del Rosario, Chairperson of the Housing and Urban Development Coordinating Council (HUDCC) and Pag-IBIG Fund Board of Trustees,” said Mr. Moti.

Pag-IBIG Fund holds the bi-annual HOLAR to keep its operations transparent by reporting its home loan accomplishments. Deputy CEO Acosta highlighted, “Pag-IBIG South Luzon’s housing loan takeout of P9.44 billion grew by 35% from its 2016 figures and comprised 14.5% of the corporate total of P65.1 billion. The amount financed 12,129 housing units. The region released P1.49 billion worth of socialized housing, or loans up to P450,000, to finance 3,757 units.”

The event is also to recognize top-performing developers in the country. “Through this event, we hope to make our partnership in the delivery of decent and affordable housing even stronger,” said Vice President Quiboloy.

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Secretary Eduardo D. del Rosario, Chairperson of the Housing and Urban Development Coordinating Council (HUDCC) and Pag-IBIG Fund Board of Trustees, said that this is Pag-IBIG Fund's contribution to the housing sector's BALAI Filipino (Building Adequate, Livable, and Inclusive Filipino Communities) program and to the directive of President Rodrigo Roa Duterte to provide housing opportunities to every Filipino family, regardless of their income and status in life.

"With the lower interest rates on the affordable housing program, monthly amortizations for loans worth P450,000 will amount to only P1,897.22 from the previous P2,280. The total monthly amortization was reduced by almost 5% due also to other reforms like lower fire and allied perils insurance premium,” Secretary del Rosario said. With the low rates on offer, low-income and minimum-wage earners can buy their own home at about the same price as renting one.

Pag-IBIG Fund Chief Executive Officer (CEO) Acmad Rizaldy P. Moti said that the affordable housing program was created especially for the unserved and underserved sectors.

"With Pag-IBIG Fund's annual tax savings, we have enough funds to subsidize the low rates under the AHP, which is designed primarily for low-income and minimumwage earners. These are the members earning not more than P15,000 a month in NCR and members in the regions earning not more than P12,000. Private lenders do not usually serve home loan borrowers in these income brackets but in Pag-IBIG Fund, we welcome them and have a housing program specifically designed to help them buy their own home. Ang mababang interest rate sa affordable housing program ay isa sa mga biyaya ng pagbabago mula sa Pag-IBIG Fund," Mr. Moti said.

Pag-IBIG Fund Deputy CEO for Home Lending Operations Cluster Marilene C. Acosta added, "We are always looking to make home ownership an achievable dream for our low-income earners. We have removed the savings requirement in our housing loans and we have cut down to half the loan application requirements from 14 documents to just 7 documents."

Pag-IBIG Fund also reduced its interest rates for 1-year and 3-year repricing period to 5.375% and 6.375%, respectively. These are Pag-IBIG Fund's lowest ever interest rates under its regular housing loan program.

In 2017, Pag-IBIG Fund approved P81.8 billion in housing loans, equal to the financing of 98,311 homes. Of the amount approved, P65.1 billion was released to benefit 80,964 members. Of these members, over 30% or 24,705 members availed of socialized housing equal to an aggregate amount of P8.9 billion, while 11% or 9,178 borrowed a total of P3.3 billion at the reduced interest rate of 3%. (END)

Ayon kay Secretary Eduardo D. del Rosario, Chairperson ng Housing and Urban Development Coordinating Council at Pag-IBIG Fund Board of Trustees, ang pinakamababang interes ng Pag-IBIG Fund ay kontribusyon nito sa BALAI Filipino (Building Adequate, Livable, and Inclusive Filipino Communities) program ng pamahalaan at sa direktiba ni Presidente Rodrigo Roa Duterte na maglaan ng pagkakataong magkabahay ang bawat pamilyang Pilipino, kahit ano pa ang kanilang estado sa buhay o buwanang kita.

“Sa mababang interest rates ng affordable housing program ng Pag-IBIG Fund, ang buwanang amortisasyon para sa utang na nagkakahalaga ng P450,000 ay bumaba sa P1,897.22 na lamang, mula sa dating P2,280. Bumaba ang buwanang bayarin ng halos 5% dahil din sa mga reporma gaya ng pagbaba ng fire and allied perils insurance premium,”sabi ni Secretary del Rosario. Dahil sa mababang interest rates ng Pag-IBIG Fund, madali na lang para sa mga kumikita ng minimum-wage ang makabili ng sariling pabahay, sa presyong singhalaga ng binabayad nila sa paupahang bahay.

Nasabi ni Pag-IBIG Fund Chief Executive (CEO) Acmad Rizaldy P. Moti na ang affordable housing program ay binuo para sa mga sektor na hindi napagsisilbihan o kulang sa natatanggap na serbisyo.

“Dahil sa taunang tax savings ng Pag-IBIG Fund, may sapat kaming pondo para masubsidize ang mababang interest rates sa AHP, na ginawa para sa mga mababa lamang ang buwanang kita. Sila ang mga miyembro ng Pag-IBIG na kumikita ng hindi tataas sa P15,000 kada buwan sa NCR at ang mga miyembro sa ibang rehiyon na kumikita ng hindi tataas sa P12,000 kada buwan. Hindi sila madalas mapagsilbihan ng mga nagpapautang mula sa pribadong sektor. Ngunit sa Pag-IBIG Fund, tinutulungan namin ang mga manggagawang may mababang buwanang kita upang makabili sila ng sariling bahay. Ang mababang interest rate sa affordable housing program ay isa sa mga biyaya ng pagbabago mula sa Pag-IBIG Fund,” ani Mr. Moti.

Dagdag naman ni Pag-IBIG Fund Deputy CEO para sa Home Lending Operations Cluster Marilene C. Acosta, “Layunin naming mapadali para sa mga kumikita ng maliit lamang na makamit ang kanilang pangarap na sariling bahay. Kaya naman tinanggal namin ang equity requirement sa pagbili ng socialized housing unit at pinaunti rin namin ang bilang ng application requirements, 7 dokumento na lamang mula sa 14 dokumento.”

Ibinaba rin ng Pag-IBIG Fund ang interest rates nito para sa 1-year at 3-year repricing period, sa 5.375% at 6.375%, ayon sa pagkasunod-sunod. Ang mga ito ang pinakamababang interest rates ng Pag-IBIG Fund sa ilalim ng regular housing program nito.

Noong 2017, inaprubahan ng Pag-IBIG Fund ang housing loans na nagkakahalaga ng P81.8 bilyon, na tutustos sa 98,311 na bahay. Mula sa halagang ito, P65.1 bilyon ang naibigay sa 80,964 member-borrowers. Sa mga miyembrong ito, higit 30% o 24,705 miyembro ang nakahiram sa ilalim ng socialized housing sa halagang P8.9 bilyon, habang 11% o 9,178 ang nakahiram ng P3.3 bilyon sa pinakamababang interest rate na 3%. (END)

A total of 2,002 couples exchanged marriage vows in the free Pag-IBIG Fund-sponsored civil wedding rites held simultaneously in 16 locations nationwide. Court of Appeals Associate Justice Remedios A. Salazar-Fernando (seated center) solemnized the wedding ceremony for 397 couples in Metro Manila. The yearly event has already wedded 20,297 couples since it was launched in 2012. Also in photo are: Trustee Ma. Lorelei C. Fajardo (3rd from right), Trustee Cornelio P. Aldon (standing rightmost) and Trustee Mylah R. Roque (3rd from left). “I want our members to realize that Pag-IBIG Fund is their partner in life. Through ‘I Do, I Do! Araw ng Pag-IBIG’, our unmarried members realize their dream of having a formal wedding and, eventually, that of owning a house. Our target beneficiaries are the low-income members consisting of kasambahays, transport workers, market vendors, and the like. This initiative supports President Rodrigo Roa Duterte’s pro-poor agenda and Secretary del Rosario’s vision of a better life for Filipino families, especially those that belong to the underserved sector,” CEO Moti said. (END)

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This was the second in a series of five forums held twice a year nationwide. The first forum was conducted in the National Capital Region on February 22, 2018. The last three forums will take place in South Luzon, North Luzon, and Mindanao.

“Through the bi-annual Home Lending Accomplishment Report, fulfilling our mandate of home finance is easily monitored. Our partner-developers are apprised of our performance in home lending. Top performers who give us quality accounts and help us meet our goals are also recognized. This complies with the transparency and good governance directives of President Rodrigo Roa Duterte. It further supports the BALAI Filipino (Building Adequate, Livable, Affordable, and Inclusive Filipino Communities) program of Secretary Eduardo D. del Rosario, Chairperson of the Housing and Urban Development Coordinating Council (HUDCC) and the Pag-IBIG Fund Board of Trustees,” said Pag-IBIG Fund Chief Executive Officer (CEO) Acmad Rizaldy P. Moti.

Deputy CEO for Home Lending Operations Cluster Marilene C. Acosta reported that the Visayas sector posted a 39% increase in home loans takeout in 2017, the highest among the regions. This percentage represents a total takeout of P9.3 billion that financed 8,815 units, 7% or P638.5 million of which went to socialized housing for loans up to P450,000.

“Visayas showed a remarkable growth in 2017 after Pag-IBIG Fund lowered its affordable housing interest rate to only 3% from the previous 4.5% per annum for low-wage earners. We expect more borrowers to get a home loan at an all-time low interest rate of 5.375% per annum for one-year repricing under the regular housing loan program,” Ms. Acosta said.

Mr. Moti presented Pag-IBIG Fund’s operational breakthroughs in 2017: highest ever corporate housing takeout of P65.1 billion, record-high gross income of P43.33 billion, record-breaking net income of P30.27 billion, historic P27.29 billion dividends, and the highest ever dividend rate of 7.61%, among others.

“This is our gift to our members, the owners of Pag-IBIG Fund. Because of their faithful contributions and patronage of our programs, Pag-IBIG Fund has posted its highest ever total assets at P488.74 billion. It also achieved its highest ever members’ savings collection at P36 billion from its 17.7 million members. Interest rates are also at historic lows,” he said.

Pag-IBIG Fund also recognized top partner-developers in the Visayas in terms of loan takeout value, conversion, performing loans ratio, and performing accounts ratio.

“Pag-IBIG Fund will not be successful in its performance if not for the support and trust of our partners, especially in the regions. Thus, in addition to being a channel of transparency and information, the HOLAR has also become our way of recognizing the contribution of our partners and stakeholders – the vital parts that make Pag-IBIG Fund’s accomplishments whole,” said Senior Vice President for Loans Operations Sector Fermin A. Sta. Teresa, Jr. (END)

The amount financed the acquisition or construction of 80,964 homes for Pag-IBIG members.

“This accomplishment is Pag-IBIG Fund’s contribution to the anti-poverty agenda of the administration of President Rodrigo Roa Duterte. Under the BALAI Filipino program, we are committed to bringing housing opportunities to every Filipino family,” said Housing and Urban Development Coordinating Council (HUDCC) and Pag-IBIG Fund Chairperson Eduardo D. del Rosario.

It was in 2016 that Pag-IBIG Fund breached the P50 Billion mark for the first time, ending the same year with a total of P57.3 Billion in housing loan takeouts.

“It took us 36 years to bring the housing loan takeouts to the P50 Billion level, and just one year to P60 Billion,” said Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti, explaining the 2017 accomplishment in perspective.

Inclusive of the P16.7 Billion pending for take-out equivalent to 17,347 units, the total housing loans for 2017, both released and pending for takeout will reach P81.84 Billion with 98,311 housing units. Those pending for takeout are approved housing loan applications, the proceeds of which are ready for release upon submission of post-approval requirements by the borrowers.

Mr. Moti gives the credit to the officers and staff of Pag-IBIG Fund for this accomplishment. “This achievement says everything of the hard work of the Pag-IBIG Fund employees. For every housing loan takeout they make, a family gets to live in a home they now call their own,” Mr. Moti added.

25,000 socialized housing units for low-wage earners

Pag-IBIG Fund also provided 24,705 socialized housing units worth around P8.89 Billion to low-wage and minimum-wage earners in 2017.

Mr. Moti explained that the number of units is 30% of the 80,964 housing units that Pag-IBIG Fund was able to takeout in 2017.

“Pag-IBIG Fund also takes care of the housing needs of the underserved sector who usually do not have access to the housing loan facilities of private financing institutions. And we are proud to have helped household helpers, public utility vehicle drivers, and other low-wage individuals acquire their own homes,” Mr. Moti said.

Socialized housing units are priced not more than P450,000 based on the ceiling set by the HUDCC.

“We adopted strategies, including partnerships with employers both in the government and private sectors, to be able to reach out to more low-wage and minimum-wage earners who dream of homeownership,” Mr. Moti said.

“We find this to be an effective strategy as housing units are offered at prices lower than the market value because employers usually provide the land without cost to their employees, while the developers chosen by the employers themselves no longer have to spend for marketing campaigns as the buyers are already identified,” he added.

Pag-IBIG Fund offers market-competitive interest rates of as low as 5.375% per annum for a one-year repricing period under its regular housing loan program, and an even lower interest rate of 3% per annum under its Affordable Housing Program exclusive for low-wage and minimum-wage earners. (END)

Pag-IBIG Fund, which just celebrated its 37th year, has been consistent in exceeding its yearly accomplishments. In 2016, Pag-IBIG Fund surpassed the P50-Billion mark for its housing loan take-outs. In 2017, the agency improved the quality of its loans and disbursed an unprecedented P65.1 Billion for its housing loan program, which provided 80,964 members with an opportunity to acquire or build their own homes.

The strengthening of Pag-IBIG Fund's housing loan program is in line with President Rodrigo Roa Duterte's directive to address the country's housing woes.

Housing and Urban Development Coordinating Council (HUDCC) and Pag-IBIG Fund Chairperson Eduardo D. del Rosario said, "President Duterte has been greatly concerned with the housing needs of our citizens. During the past year, we have been consolidating the efforts of our shelter agencies under the BALAI Filipino (Building Adequate, Livable, Affordable, and Inclusive Filipino Communities) program. I commend the efforts of Chief Executive Officer (CEO) Acmad Rizaldy P. Moti in leading Pag-IBIG Fund to contribute greatly towards this thrust."

Aside from shelter financing, Pag-IBIG Fund's short-term loan program also contributed to the improved income. For 2017, it released P45.37 Billion in MultiPurpose Loans (MPL) – the highest ever – providing financial assistance to about 2 million member-borrowers. This, despite the transition of branch operations to a better integrated system.

Pag-IBIG Fund CEO Moti cites the employees' hard work and dedication to excel as key ingredients for Pag-IBIG Fund's remarkable performance. "Last year, we declared 2016 as Pag-IBIG Fund's best-ever year because of record-breaking accomplishments. With the right mindset and strategy, we learned that our 2016 best can still be improved," he said.

"In 2017, we placed emphasis on 'Lingkod Pag-IBIG' – a brand of service that we want all Pag-IBIG Fund employees to espouse. This means consistency in performing excellently and thinking of ways on how our members could benefit better from our programs. The key here is to apply constant, continuous improvement, no matter how small. That's why we do not stop in thinking of ways to better serve our members. From expanding our program coverage to improving our systems, we incorporate improvement so that Pag-IBIG Fund's best can become even better," Mr. Moti added.

With Pag-IBIG Fund's net income at record-high, Mr. Moti said that members will also enjoy better returns for their membership savings. Last year, Pag-IBIG Fund declared a dividend of P22.3 Billion, with a 6.93% dividend rate. For 2017, the agency declared P27.29 Billion in dividends (or 90% of net income), an increase of 22% from the preceding year. The dividend rate on the other hand, increased by 10%, bringing the dividend rate to its highest ever at 7.61%. (END)

More than 2,000 couples are expected to participate this year in 16 venues nationwide. At the Philippine International Convention Center’s Forum Tent in Pasay City, almost 400 couples are expected to say “I Do!” The 15 other venues are in Davao City, Antipolo City, Angeles City, Malolos City, Luna in La Union, Ilagan in Isabela, Diffun in Quirino, Calamba City, San Pablo City, Calapan City, Naga City, Cebu City, San Jose in Antique, General Santos City, and Zamboanga City.

"This is how we celebrate Araw ng Pag-IBIG on Valentine’s Day. The mass wedding is our way of helping couples formalize their marriage at the same time enjoy the benefits of Pag-IBIG Fund membership. We are one with President Rodrigo Roa Duterte’s directive of helping Filipino families utilize social benefits provided by government institutions like Pag-IBIG Fund,” said the Chairperson of the Housing and Urban Development Coordinating Council (HUDCC) and the Pag-IBIG Fund Board of Trustees, Secretary Eduardo D. del Rosario.

“Through this event, we help members who do not have the financial means to formalize their union. This is Pag-IBIG Fund’s way of showing that it is not only a savings institution and provider of housing finance, but is also a supporter in building happy families,” Pag-IBIG Fund Chief Executive Officer (CEO) Acmad Rizaldy P. Moti said.

Since its start in 2012, Pag-IBIG Fund helped wed more than 18,000 couples nationwide.

Pag-IBIG Fund Deputy CEO for Member Services Cluster, Alexander Hilario G. Aguilar, added that kabuhayan packages, household items and appliances, and cash gifts are to be raffled off at the venues.

The “I Do, I Do! Araw ng Pag-IBIG” has won several awards in the past years, including the first Philippine Quill for a Government Communication Program from the International Association of Business Communicators (IABC) Philippines in 2013. It has also won the Bronze Award for Advocacy Communications under the category of Responsible Parenthood at the Araw Values Awards 2014. It was also cited by the TV show, Philippine Book of Records, as having the “most number of couples in a nationwide mass wedding” in 2014. (END)

“2017 was a record-breaking year for Pag-IBIG Fund. It was a year that each of us can be proud of. 2017 reaffirmed Pag-IBIG Fund’s standing as a strong and reliable partner of Filipino workers and other stakeholders. As Pag-IBIG Fund’s contribution to the pro-poor agenda of President Rodrigo Roa Duterte, homeownership was made even more affordable especially to the low-income earners,” said Secretary del Rosario, who also heads the Housing and Urban Development Coordinating Council (HUDCC).

He said that Pag-IBIG Fund released P65.1 Billion in home loans in 2017, the highest ever housing loan takeout in its 37-year history. This is the first time that the agency breached the P60-Billion mark. The amount was disbursed to 80,964 Pag-IBIG members last year.

Secretary del Rosario also reported on the financial standing of Pag-IBIG Fund. For 2017, Pag-IBIG Fund recorded an all-time high gross income at P43.33 Billion. Secretary del Rosario said that Pag-IBIG Fund reached P30.27 Billion in net income in 2017 – the highest net income it ever recorded and its first time to hit the P30-Billion mark. Pag-IBIG Fund also recorded its highest ever total assets at P488.74 Billion.

Pag-IBIG members will benefit from such strong financials since bulk of Pag-IBIG Fund’s net income will be credited to Pag-IBIG members in the form of dividends. For 2017, Secretary del Rosario said that if Pag-IBIG Fund will have the same pay out as in 2016 at 90%, it may credit to members’ accounts P27.29 Billion in dividends – the biggest amount ever credited by Pag-IBIG Fund.

In 2017, Pag-IBIG Fund also posted its highest ever members’ savings collection at P36.3 Billion, and multi-purpose loan releases at P45.37 Billion.

“Every year, we make a point to apprise all our stakeholders of Pag-IBIG Fund’s accomplishments. That’s why we hold the Chairman’s Report. This year’s Chairman’s Report is filled with good news because 2017 was the best year ever for Pag-IBIG Fund. We want stakeholders to know that we are working hard for them. Our strong financials and record-breaking housing loan takeout benefit primarily our members. That’s what Lingkod Pag-IBIG is all about. We’ve reached our targets, and we’ve done it with flying colors! We’ve set so many new records and we will continue to bring Pag-IBIG Fund to far greater heights!” said Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti. (END)

Secretary del Rosario, also the Chairperson of the Housing and Urban Development Coordinating Council (HUDCC), will deliver the “2017 Chairman’s Report” before Pag-IBIG Fund’s stakeholders, industry partners, officers, and guests on February 8, 2018 at the Philippine International Convention Center in Pasay City.

He will focus on Pag-IBIG Fund’s highest-ever gross and net income, members’ savings collections, housing and short-term loan disbursements and collections, and sale of acquired properties, among others.

“It is with pride that we report Pag-IBIG Fund’s unprecedented feats in 2017. This is also in keeping with President Rodrigo Roa Duterte’s directives on good governance and transparency. We have a huge responsibility laid on our shoulders. Providing our members with a decent home and guaranteeing their future through savings are our tasks. We are not allowed to fail,” Secretary del Rosario said.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti added, “2017 was the best year ever for Pag-IBIG Fund. And we’ve done it with flying colors! We’ve set so many new records as we continue to bring Pag-IBIG Fund to far greater heights!”

“It is customary for the HUDCC Chairperson to deliver his annual report on the state of the Fund every year. As Chairperson of the Pag-IBIG Fund Board of Trustees, Secretary del Rosario is given the privilege to present the report that covers Pag-IBIG Fund’s programs, targets and accomplishments, and service delivery in 2017,” Mr. Moti said.

The 2017 Chairman’s Report will be Secretary del Rosario’s first since he assumed office as HUDCC Chairperson on July 17, 2017. (END