The housing loans collection of Home Development Mutual Fund or Pag-IBIG Fund has improved last year, an official said.
Pag-IBIG Assistant Department Manager of the Business Development Department, Melchor Sausa said at a press conference yesterday from January to December last year, housing units approved in Mindanao totaled 7,053 amounting to about P6, 626,000,000.
He said Davao City got the highest with 2,099 housing units approved with an investment value of P2,110,000,000 followed by Cagayan de Oro with 1,643 housing units worth P1,298,000,000. Meanwhile, Kidapawan City got the least with 126 housing units approved.
“Obviously mahina ang ating housing applications doon (Kidapawan) seguro dahil may kakulangan tayo sa developers doon,” Sausa said.
Sausa said improvement of the collection on housing loans can be attributed to the enforced Collection Servicing Agreement wherein a Pag-IBIG member who is employed must be under the mandatory payroll deduction.
Pag-IBIG housing loans are available for economic housing (ranges up to P450,000), socialized housing (from P450,000 to P750,000), and high-end housing (more than P750,000).
“Mas marami sa bracket ng economic at socialized housing ang na-approve. Kasi ito yung affordable. We also accept housing loan for condominium,” Sausa said.
Sausa said as per report last month there are 20 developers accredited by Pag-IBIG with 8990 Housing Development Corporation as the biggest developer nationwide.
Sausa said BDD (Business Development Department) was created that focuses on the developers. This department also conducts lectures to employers. There are three hubs of BDD in Mindanao: Davao hub (Pryce Tower), Cagayan de Oro hub (Pag-IBIG Cagayan de Oro building), and the Zam-boanga hub.
For housing operations there are three departments: business development, loans mediation and reconciliation dept.
“Kami yung nagma-market and introduced housing loan programs to the developers and employers. We are the one who encourages to avail housing loans and explained the features of housing loan,” Sausa said.
He also announced that the housing entitlement has increased to P6 million wherein each member is entitled to avail of a P6 million housing loan depending on his net pay.
He also announced that effective this year Pag-IBIG is offering multiple availment which refers to the approval of another housing loan pending complete payment of an existing loan. Maya M. Padillo