Pag-IBIG to take over GSIS housing loan program

MANILA, Philippines - Vice President Jejomar Binay said yesterday the Home Development Mutual Fund (HDMF), otherwise known as the Pag-IBIG Fund, will take over the housing loan programs of the Government Service Insurance System (GSIS) for its 1.7 million members.

Binay, chairman of the Housing and Urban Poor Development Coordinating Council (HUDCC) and the Pag-IBIG Fund, also announced that the National Housing Authority (NHA) has lined up more projects for 2012.

He said the NHA is now processing eight projects to be funded this year, and 32 more in 2012 which will benefit more than 21,000 families.

“Housing agencies are also reviewing their policies in end-buyer financing, developmental financing, the guaranty system and the secondary mortgage market in order to make more funds available for housing,” Binay said.

He added that the HUDCC is now implementing a national resettlement policy framework aimed at establishing common procedures and guidelines for agencies involved in resettlement of informal settlers.

He said they have also revised the guidelines of the Community Mortgage Program (CMP) of the Socialized Housing Finance Corp. (SHFC) in order to accelerate the “secure tenure” to informal settlers and protect them from unscrupulous operators.

“Stronger linkages between key shelter agencies and local government units (LGUs) have proven effective in addressing the country’s housing gap,” Binay said.

Binay cited the Memorandum of Understanding (MOU) signed between the Pag-IBIG Fund and Quezon City for a housing project in Barangay Payatas for low-income personnel and informal settlers occupying danger areas.

He also said a similar MOU was forged with the municipality of Ligao in Albay during the Pabahay Caravan in Bicol earlier this week.

“Given the critical role of the LGUs, we actively promote the creation of a land management and housing office at the local level, one that is familiar with the locality’s needs and resources and would be in the best position to determine the appropriate uses of land as well as its shelter priorities,” Binay said.

“Bringing our shelter program to the grassroots through the Pabahay Caravan, we are able to establish direct face-to-face contact with the local government and the local population and offer them technical help in accessing our programs,” he said.