Pag-IBIG Fund recognizes top partner housing developers in North Luzon Pag-IBIG Fund, led by its chief executive officer Acmad Rizaldy P. Moti, recognized its top 10 partner-developers in terms of takeout loan value and other toap performers at the 2017 North Luzon Home Lending Accomplishment Report held in Clark Field, Pampanga.
“Last year, Pag-IBIG released P65.1 billion in housing loans, a 14 percent 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 percent 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 and Pag-IBIG Fund Board of Trustees,” 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.