Career exec named new Pag-IBIG head

MANILA, Philippines — A career executive serving the Home Development Mutual Fund, commonly known as Pag-IBIG, for the past four decades will lead the agency under the Marcos administration.

President Marcos has appointed Marilene Acosta as the new chief executive officer of Pag-IBIG, the country’s leading home financing agency. She will replace Acmad Rizaldy Moti.

Acosta has served the agency for the past 40 years or since 1981.

Hailing from Ilocos Sur, Acosta is a certified public accountant who rose from the ranks since starting as an accounting clerk in Pag-IBIG Fund’s Baguio regional office.

Acosta assured Pag-IBIG members, partner-developers and employers, and other stakeholders that Pag-IBIG will remain committed to providing the service that Filipinos deserve.

“My more than 40 years of public service in Pag-IBIG has prepared me well for this post, and I will put to best use all that I have learned during the past four decades in ensuring that we continue the fulfillment of our mandates,” Acosta said.

Moti, for his part, noted that Acosta’s appointment will ensure continuity in the agency’s directions toward sustaining and building on the gains that have been accomplished in the past administrations.

“Her leadership, excellence, integrity, and grit are among the key factors that have enabled Pag-IBIG to accomplish numerous record-highs and milestones, particularly in the home financing front,” Moti said.

Acosta served as Pag-IBIG deputy CEO for home lending from March 2017 to September 2022 where the agency released consistent record-highs in housing loans.

Pag-IBIG is said to be in its strongest state as of the moment, following significant increases in key metrics from 2016.

Currently, Pag-IBIG has P796 billion in total assets, up 81 percent, and investible funds worth P93 billion.

Last year, it disbursed a P100.8 billion single-year home loan release, a 76 percent increase from the annual home loan takeout of P57.3 billion six years ago.

It also recorded P26 billion voluntarily saved by members in Modified Pag-IBIG (MP2) savings in 2021. Net income of the home financing agency is at over P30 billion in the last five years