Pag-IBIG Fund to lend P50-B for 60,000 housing units in 2012

May 14, 2012

DAVAO CITY, March 16 (PNA) — The Pag-IBIG Fund is targetting 60,000 housing units with loan facility totaling P50 billion by yearend, this was disclosed by its Chief Executive Officer lawyer Darlene Marie Berberabe.

Berberabe made the announcement Thursday during the inauguration of the Fund’s Tagum Branch new office building.

She also led the signing of memorandum of agreements between market vendors association, operators and tricycle drivers associations of Mati City, Davao Oriental.

The MOA signing between the local government units of the cities of Tagum and Mati will facilitate implementing a scheme making registration and membership of Pag-IBIG Fund a pre-requisite for renewal of business permits.

The CEO reported that as of the first three months this year they were already able to lend P12 billion even as she explained that peak of housing projects will come towards the second of the year.

She admitted that with the stricter implementation of policies last year after the Globe Asiatique controversy, there were developers which stopped contracting with Pag-IBIG Fund.

But slowly they started coming back, after seeing a more defined and clear implementation of policies.

This year’s target she said is of 10 percent increase from last year’s target of 55,631 units valued at P38.3 billion.

Cumulative figure of the Fund’s housing program totalled to 841,661 housing units amounting to P313.4 billion.

Berberabe is hopeful about their program, given varied strategies through housing fairs and fora in coordination with the Subdivision and Housing Developers Association and Organization of Socialized Housing Developers Association of the Philippines.

“We will match their projects with the funding of Pag-IBIG Fund,” she said.

She said they are also supported by big developers like the DMCI, Megaworld, Filinvest, Rockwell and Ayala’s Avida.

There are still foreclosed properties she said where 60 percent of these units are occupied by the buyers themselves “and we are offering condonation of penalties until June 2012.”

She said they want these home borrowers to avail themselves of the offer and later become real home owners of the property they occupy.

Meanwhile, Berberabe said the Fund’s gross income amounted to P24.8 billion in 2011 which is 11 percent higher than in 2010 and the biggest in 31 years.

The net asset last year was pegged at P11.959 billion making the Fund’s total asset now of over P302 billion.

“But the growth of the Fund is not restricted to its finances. The past year was a year of changes, growth and action,” she said.

Berberabe said their efforts to provide quality service to our members have been recognized when Pag-IBIG Fund became ISO 9001-2008 Certified in 2011, the first among key shelter agencies in the country.

And we will continue to work hard and act on concerns that would benefit the members.

She said they are looking at 200,000 employers who did not register their employees even as she said that they already filed 167 cases against them (employers).

With the Fund’s program dubbed as “Be A Responsible Employer”, they are offering condonation of penalties for those who have not registered or those delinquent employers where condonation of penalties is pegged at P1.2 to P1.8 billion, she added. (PNA)
hbc/PrixDDB/ldp


Pag-IBIG signs deal with Mati City’s tricycle drivers, market vendors

May 14, 2012

DAVAO CITY, March 16 (PNA) — Pag-IBIG Fund chief executive officer Atty Darlene Marie B. Berberabe led the signing of memorandum of agreement (MOA) with Mati City’s associations of tricycle drivers and fish vendors. The signing was held on Thursday in Tagum City which coincided with the inauguration of Pag-IBIG Fund Tagum Branch new office building.

However, Berberabe said they wanted to reach out also to all informal sectors as they wanted them to benefit from the Fund’s program on provident savings and home financing.

Republic Act 9679 requires for universal coverage including those informal groups even as Berberabe said those earning P1,000 up can become Pag-IBIG Fund members.

Berberabe was joined by the Fund’s Southern Mindanao Group vice president Jose W. Banzon, Jr. in singning the agreements and witnessed by Tagum Branch manager Cesar Labuguen. The affair was also graced by Davao Oriental Governor Corazon Malanyaon, the officers of Pag-IBIG Fund, housing developers and representatives of other government agencies and private offices.

Among those who entered into an agreement with Pag-IBIG Fund were the Mati Market Vendors Association led by its president Jerome A. Gupit, Mati Science College Tricycle Operators and Drivers’ Association (MASTODA) with its president Romel Matapid and Badas Tricycle Operators and Drivers Association headed by Santiago Alberto, Jr.

The City Governments of Mati (Davao Oriental) and Tagum (Davao del Norte) also signed separate memorandum of understanding with the Fund represented by Mati City Mayor Michelle Rabat and Tagum City Vice Mayor Allan Rellon for implementing a scheme where registration and membership with Pag-IBIG Fund is a pre-requisite for renewal of business permits.

Meanwhile, Rabat said they wanted their job order employees of about 900 workers who are street sweepers, canal cleaners, civil security unit staff, traffic aids become members.

“We wanted these job order workers be covered and able of the benefits of Pag-IBIG Fund,” she said.

Romel Matapid, president of MASTODA said for our members not to be burdened by one time payment of the P200 monthly contribution, they designed a scheme to pay it daily at P7.

He said they learned of the membership coverage through flyers and posters and they were interested on the savings benefit of the program kay ang kwarta nga among ihulog naa may interest ug dibidendo (the money that we save will earn interest and dividends).

Speaking of dividends, Berberabe said that Pag-IBIG Fund’s board of trustees chair Vice President Jejomar Binay declared some P8.491 billion worth of dividends, equivalent to 71 percent of the Fund’s net income for 2011 and to be divided among the 102 million members.

She said dividend rate was pegged at 4.13 percent, the highest so far.

Berberabe said they took pride in the fact that Pag-IBIG Fund continued to sustain its financial growth through the years, making it one of the strongest and most stable institutions in the country today. (PNA)
RMA/Prix Digna D. Banzon/ldp


Pag-IBIG Fund chief cries foul over housing developer’s accusations

July 16, 2010

Pag-IBIG Fund chief executive officer Jaime Fabiaña yesterday slammed a housing developer for berating Fund officials for “losing the vision to serve,” saying Pag-IBIG “continues to be a strong and viable institution because of its hardworking and dedicated men and women.” Fabiaña was reacting to a report published in the Philippine Star that quoted Globe Asiatique Realty Holdings Corporation owner and president Delfin Lee as saying Pag-IBIG officials “have been there too long … they have become lazy and have lost the vision to serve.” “Pag-IBIG continues to be a strong and viable institution because of its hardworking and dedicated men and women whose focus to serve the Fund’s more than eight million members nationwide remains unwavering,” Fabiaña said. He cited statistics that showed housing loan approvals grew at an average of 42 percent for the last three years – P22 billion in 2007, P34 billion in 2008, and P46 billion in 2009. “Every day, 300 families are able to acquire homes through Pag-IBIG’s housing loan program. In times of calamity, Pag-IBIG provided an immediate lifeline to 800,000 calamity-stricken members through loans amounting to P14.7 billion. On a daily basis, the Fund releases P185 million in short-term loans which helped finance the emergency needs of 10,454 members,” he said. Fabiaña also belied Lee’s accusation that a memo providing that a member applying for a housing loan must have complied with the twelve-month residency requirement beginning July 1 of this year was unusually timed. “It was not unusually timed. To properly disseminate the new requirement, the Fund has undertaken intensive consultations with developer groups including the Subdivision and Housing Developers Association (SHDA) and the Organization of Socialized Housing Developers of the Philippines (OSHDP) as well as with the Fund Coordinators who serve as liaisons of Pag-IBIG with employer-companies,” he said. “We also made sure that the Fund included this policy in all its housing loan briefings both here and abroad. It was thoroughly discussed in a lot of meetings,” he added. Fabiaña said the amendment was duly approved by the Pag-IBIG Board headed by former Vice President and HUDCC chair Noli de Castro. “However, in a recent memo, the Senior Management of the Fund heeded the request of developers and members to defer its implementation and allowed the payment of 24 monthly contributions until September 30 of this year, provided housing loan applications are submitted not later than December 29, 2010,” Fabiaña said. According to Fabiaña, the 12-month residency requirement was established under HDMF Circular No. 55 to build up more funds for re-lending. “In March 2000, the residency requirement was two years. In 2001, Pag-IBIG lifted the two-year residency requirement allowing members to pay in lump sum, the 24 monthly membership contributions to avail of a housing loan because there were only a few borrowers then. At that time, total housing loan approval was only P3.5 billion,” he said. “Following the reduction in interest rates and lengthening of loan term to 30 years, Pag-IBIG has experienced immense growth in loan approvals recording an average growth rate of 42 percent for the last three years – P22 billion in 2007, P34 billion in 2008, and P46 billion in 2009. At this rate, it is no longer sustainable for Pag-IBIG to finance the growing demand for housing,” he added. Fabiaña also observed that instant membership has been prone to abuse, citing monitoring reports that indicated that abuses have been committed, particularly in the Pampanga area, “including Mr. Lee’s Xevera Projects, where almost 400 approved accounts were confirmed to be doubtful because the borrowers denied they availed of the housing loans.” Fabiaña said Lee himself “confirmed the existence of these problematic approved accounts.” “In a letter to Pag-IBIG, Lee wrote that ‘based on our internal monitoring, there are buyers who have not been paying since take-out (loan approval). We are closely monitoring some 1,000 accounts which we suspect are of questionable buyers. We have since cancelled 400 of these accounts…’,” Fabiaña said Fabiaña also took exception to Lee’s statement that HDMF officials are “lazy… they put the money in treasury bills and avoid innovative and challenging work that can fulfill the mission to provide low-cost housing to Filipinos”. He said according to the agency’s figures, Pag-IBIG has long surpassed its mandate to provide 70 percent of its funds for housing. “In 2009, 78 percent of the P256 billion total assets of the Fund are housing- related. For the first five months of the year, this has already reached 80 percent representing P204 billion out of the P271 billion total assets,” he said. Emma Linda Faria, Deputy Chief Executive Officer for the support services cluster, said Pag-IBIG “we cannot put all our funds in housing as we must be able to pay our members’ Provident claims on time. Plus we must always be liquid.” On Lee’s estimate that 70 percent of low-cost housing clients of real estate developers would be affected by the policy, Fabiaña said out of the 8 million members of Pag-IBIG, only around 800,000 members have housing loans. There are more than seven million remaining members who have made 24-monthly membership contributions who have not yet availed of a housing loan. “If sales agents are not lazy, they can easily tap this potential,” he said. Fabiaña said the Fund is what it is today – “one of the top government corporations and the leading financier of the government’s housing program” – because of the singular dedication and hard work of its 5000-strong work force of the Fund. “As a result, Pag-IBIG has been recognized locally and internationally for its contribution in housing. To cite a few: a Triple A minus (Aaa) rating from PhilRatings in 2005 for creditworthiness; UN-Habitat Scroll of Honour in 2006 for providing affordable home financing, making the Fund the first government agency to receive such commendation; Congressional Citation in 2008 for its exemplary contribution in the government’s battle against homelessness and poverty; and Civil Service Commission PASADA Awardee since 2007 for exhibiting the value of customer care and meeting the expectation of the transacting public for prompt, courteous, and responsive service,” he said. Fabiaña assured the Fund that he will continuously refine its housing program to ensure that the dream of homeownership can be easily attained by every Filipino worker. (with ref. Margie Jorillo at 811-4198)


“We had fun, fun, fun” @ Pearl Farm (Summer Outing 2010)

March 26, 2010

golfcart

They had fun n the sun and the sand … while we rated their performance in a unique show of talents, guts, poise, pose and grace …. then they ate , played fun games, they swim, toured the place, talked, laughed, laughed and laughed.

Twas one event in March they will continue to recall with matching laughter … als…o because of Lady Gaga. I too didn’t miss that. i had my foto taken with the red hair lady. The winners of the hunk and the babe in bikini were also equally exciting so with the different group presentations.

Joe and I had fun and enjoyed the day with the Pag-IBIG Tagum branch, the group headed by Beth. Kudos to you all. Thank you guys … for the invites … twas indeed a fun day.

The kids were there too not only to enjoy but cheer to their Moms and Dads, Titos and Titas.

Everyone were in their summer get ups plus accessories of colored hats, bags, flip flops, different shapes and colors of shades, shorts and swimsuits.

Foreign visitors were there too to have fun.

well … it’s facebook time so i’m sharing to you some fotos I took in between my task as one of the judges along with Joe and a Daddy …all because of “The Heat Is On” Summer Outing on March 20, 2010.


March 25, 2010

Pag-IBIG Southern Mindanao conducts saturation drive for RA 9679

DAVAO CITY, Feb. 10 (PNA) – The Home Development Mutual Fund otherwise known as Pag-IBIG Fund is now conducting a massive saturation drive in order to reach out to all sectors that will be covered by Republic Act 9679 or the Home Development Mutual Fund (HDMF) Law of 2009.

Pag-IBIG Fund vice president for Southern Mindanao operations Jose W. Banzon, Jr. said they expect an additional 85,000 new members with the passage of the new law in their area of responsibility covering four branches namely the Davao that includes Davao City and Davao del Sur; Tagum branch including Tagum City, Island Garden City of Samal, Compostela Valley Province, Davao del Norte and Davao Oriental; General Santos branch comprising the cities of General Santos and Koronadal, South Cotabato Province and Sarangani; and the Cotabato branch covering the cities of Cotabato, Tacurong and Kidapawan and the provinces of Maguindanao, North Cotabato and Sultan Kudarat.

He said with their ongoing drive, many showed interests as their offices receive several queries daily from those sector formerly not covered and are now included in the coverage.

“We do door to door visits to establishments, offices and companies and send letters to homeowners associations and those self-employed entrepreneurs and other sectors if only to reach out to these people for them to be covered by the new law so they could avail of the services and benefits due them once they are covered by the HDMF law,” he said.

Meanwhile, Banzon said total membership for the Fund corporate wide in 2009 accounted to 7.5 million and target for 2010 is pegged at 9.5 million. The Southern Mindanao Group membership in 2009 totaled 484,302 or an increase of 3.2 percent in 2008 or 469,020 active members.

He said with their target of 85,000 for new members this year, their total Pag-IBIG members by end of 2010 would be about 569,302.

He said the new law has a universal or expanded members coverage where it becomes mandatory for all employees covered by the Social Security System (SSS) provided “that actual membership in the SSS shall not be a condition precedent to the mandatory coverage in the Fund and shall include but are not limited to private employees regardless of income, whether permanent, temporary or provisional and is not over 60 years old.

A household-helper earning at least P1,000 a month, a Filipino seafarer upon signing of the standard contract of employment between the seafarer and the manning agency. Self-employed person regardless of trade, business or occupation, with an income of at least P1,000 a month or not over 60 years old.”

Also covered are self-employed professionals such as doctors, lawyers, dentists, Certified Public Accountants (CPAs), architects, engineers, and others, business partners and single proprietors, actors, actresses, directors, scriptwriters, news reporters, professional athletes, coaches, trainers, jockeys, individual farmers and fishermen.

He said all employees under the Government Service Insurance System (GSIS) are also covered regardless of their status of appointment and income.

He said coverage for those Filipinos employed by foreign-based employers or the Overseas Filipino Workers (OFWs) is now mandatory.

Voluntary coverage, he said will only apply to barangay officials, non-working spouses of Pag-IBIG member, leaders and members of religious groups, Filipino government or international organization and self-paying individuals.

The contribution rate with monthly compensation of P1,500 and below for the employee is 1.0 percent and the employer at 2.0 percent. Those over P1,500 would have equal contribution of 2 percent for both the employee and the employer.

He said the maximum monthly compensation to be used in computing the employee and employer contributions shall not be more than P5,000.

Banzon said the employees’ Pag-IBIG contribution will earn dividends even as he said that in 2009 they paid five-percent dividends to the Fund members that go to their accumulated savings which they can withdraw among others upon maturity of 20 years, or retirement from the service. The savings thru the Fund is tax-free, meaning the members get 100 percent equivalent amount. (PNA)
LAP/Prix Digna D. Banzon/lvp


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March 25, 2010

Pag-IBIG Southern Mindanao releases P5.9B for salary, housing loans in 2009

DAVAO CITY, Feb. 10 (PNA) — A total of P5.9 billion was availed of by a good number of Pag-IBIG Fund members of Southern Mindanao in 2009.

Pag-IBIG Fund vice president for Southern Mindanao operations Jose W. Banzon, Jr. reported that both the multi-purpose loan (MPL) and housing loan registered double-digit percentage increases.

For the MPL alone, he said almost half of the Pag-IBIG members in their area availed of this type of loan, accounting to P3.398 billion by some 208,291 borrowers or an increase of 20.91 percent as against 2008 with only P3.001 billion with 198,303 who borrowed.

The multi-purpose loan is among the sought after services in the Davao branch, which receives 400 applications daily. With all requirements met processing is done within the day.

“Traffic is heavy during the months of May and October as most of the borrowers use the proceeds of their loan for enrollment purposes of their children,” Banzon said.

Meanwhile, Banzon said as to housing loans they were avail to release P2.361 billion to some 5,270 borrowers as against the P1.935 billion in 2008 availed of by 4,825 loan takers.

He said with regards to loan value, it generated about 21.98 percent for the year in review while number of takers registered an increase of 9.22 percent.

More than half of the borrowers were from Davao of about 2,868 and valued at P1.451 billion followed by General Santos with P494.9 million of 1,108 borrower, Tagum (Davao del Norte) with P294 million and 931 borrowers and Cotabato, P120.4 million by 363, he said.

The average loan value for last year was pegged at P448,077 in 2009 and P401,206 in 2008. Its housing loan collection in 2009 was at P1.239 billion or an increase of 19.03 percent compared to 2008 with P1.041 billion.

Banzon also reported that active membership level in Southern Mindanao as of last year totaled 484,302 compared to 2008 with only 469,020 or an increase of 3.26 percent.

Among the operating units within the Southern Mindanao Group (SMG), he said the Davao branch still has the most number of members with 204,045 in 2009 compared to 197,401 in 2008 or a 3.37 percent increase and followed by General Santos with 105,911 or an increase of 3.27 percent against the 2008 figure of 102,556.

He said Tagum had 89,974 members as of last year and registered an increase of 5.45 percent as against 85,325 the previous year while Cotabato had 84,372 members or a .76 percent increase from the previous year with only 83,738 members.

With regards members contribution almost half of the pie was contributed by the Davao branch with P509.3 million in 2009 compared to P473.5 million in 2008 or an increase of 7.54 percent. Half of Davao’s contribution was shared by General Santos with P256.8 million last year or an increase of 8.57 percent against 2008’s figure of P236.6 million. Tagum branch delivered a big increase with 22.16 percent or P240.1 million compared to its 2008 contribution of only P196.5 million. Cotabato had 241.9 million in 2008 which lower by -9.04 percent compared to that in 2008 with P265.9 million.

Total member’s contributions of SMG accounted to P1.248 billion or 6.44 percent increase compared to the 2008 total contributions of P1.172 billion.

The developer’s loan release posted an increase of 70.74 percent in 2009 with P247.980 million as against the 2008 figure of P145.236 million.

Of the operating branches, he said Davao registered 112.84 percent increase in 2009 with P178.143 million as against the P83.700 million in 2008, General Santos posted a decrease of -14.98 percent with P48.637 million last year compared to P57.207 million the previous year while Cotabato had P21.200 million in 2009 or a 389.72 percent against P4.329 million in 2008.

As to developers’ loans collections, the Group noted an increase of 51.68 percent with P229.562 million last year as against the previous year with only P151.342 million.

As to its financial highlights, Banzon said the SMG registered a gross income of P1.293 billion with net income of P1.002 billion or a percentage change on net income of 43.26 percent with that of 2008 with only P699.565 million.

Banzon attributed the positive performance to the increasing number of workers covered by the Fund and the number of members who availed of their line of services plus the lowering of interest rates applied to housing loans.

He also said some of the areas covered by SMG had become growth areas and noted that proceeds availed of by members through the multi-purpose loans were plowed back to the economy as more money were in circulation within the area while housing carries multiplier effect of 16 times as it opens also several economic activities. (PNA)
LAP/Prix Digna D. Banzon/lvp


March 25, 2010

Pag-IBIG Fund targets 1-M OFW members in 2010

DAVAO CITY, Dec. 14 (PNA) — The Home Development Mutual Fund (HDMF), or Pag-IBIG Fund, is set to increase its membership of overseas Filipino workers (OFWs) to one million in 2010.

This was revealed by HDMF vice president for Southern Mindanao operations Jose W. Banzon Jr. during the “Handog ng Pag-IBIG Fund sa OFW” over the weekend at SM City Davao entertainment center.

Pag-IBIG Fund has current membership of 470,000 OFWs, and aims to double the figure by 2010.

Meanwhile, Banzon said in recognition to the huge contribution of OFWs to the country’s economy, the agency came up with fitting tribute to them by letting them understand further the benefits they get from the Fund as members, and a simple celebration for the Christmas season.

Citing figures from Bangko Sentral ng Pilipinas, Banzon said the total remittances of OFWs from 2003 to 2008 amounted to US$ 70.5 billion or P3.2 trillion. The figure for 2009 is at P284 billion or equivalent to 71 percent of the national budget of the Philippine government for 2010.

Pag-IBIG Fund, he said has set up offices in the Philippine embassies and consular offices to cater to queries and other services of Pag-IBIG member.

With the passage of the new law or Republic Act 9679, the OFWs in 2010 are covered by Pag-IBIG Fund as compulsory members.

Once a member of the Fund, OFWs will enjoy benefits and service such as multi-purpose loan, housing loan and earnings of dividends, he said.

He said an OFW that will pay five dollars monthly contribution could avail among others of a housing loan with six percent interest rate per annum for a house and lot package of P300,000 or other types of packages.

Banzon said OFWs tax free contribution could earn at least 4.5 percent.

Linda Moreno, HDMF vice president for Philippine International Operations Group, said they will open more offices abroad to make the Pag-IBIG Fund services more accessible to OFWs.

Lawyer Marie Antoniette D. Diaz, assistant manager for Pag-IBIG Fund Davao, the agency’s fund being exempted to taxes can be used for more programs including payment of dividends to members. (PNA)
FFC/DDB/lvp


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