In celebration of “National Shelter Month,” the Social Housing Finance Corp. (SHFC) awarded 27 homeowners’ associations (HOAs) with certificates of accomplishment for demonstrating a commitment to creating a responsible payment culture among community members amid the COVID-19 pandemic.
The awardees were determined based on their collection efficiency for the first six months of 2021.
The SHFC the various community associations in Metro Manila are under its flagship financing initiative, the community mortgage program (CMP).
Topping the overall list of awardees was Ruby Minahan HOA in Malanday, Marikina, which posted a collection efficiency rating (CER) of 849.93 percent.
The Rodrigo Compound HOA in Rizal got second overall with a CER of 762.68 percent, while Villa Benelda HOA of the National Capital Region-South finished third in the ranking by posting a CER of 402.31 percent.
Josefina Banglagan, SHFC-Mega Manila II vice president, lauded the awardees for fulfilling their responsibilities as CMP loan beneficiaries despite the financial hardships brought about by the pandemic.
She maintained that SHFC’s efforts would not go to waste, saying the collections shall be used by SHFC as reflows to finance new housing projects for underprivileged Filipinos.
According to Banlagan, as the lead government agency that administers socialized housing programs for formal and informal sectors in the low-income bracket, SHFC was able to provide affordable loans to 425,000 families through 3,086 projects amounting to about P25.8 billion as of July 2021.