PAG-IBIG FUND

SNAPSHOT
YEAR 2022
Y2023
TARGET vs.
ACCOMPLISHMENT
AS OF AUGUST 31, 2023
 CW ACCOMPLISHMENT
in terms of LOAN VALUE - As of August 31, 2023

59%
Mindanao 7,618.306
12,889.887

69%
Visayas 9,389.426
13,641.065

56%
South Luzon 12,455.907
22,109.534

55%
North Luzon 12,152.901
22,060.103

60%
NCR 35,335.274

58,936.574

- 10,000.000 20,000.000 30,000.000 40,000.000 50,000.000 60,000.000

% Accomp Actual TO Annual Target

 59%

Mindanao 7,618.306

CW ACCOMPLISHMENT 12,889.887

in terms69%
of LOAN VALUE - As of August 31, 2023
Visayas 9,389.426

13,641.065

56%

South Luzon 12,455.907

22,109.534

North 55%
Luzon
North Luzon 12,152.901
22,060.103
60%

NCR 35,335.274
 % Accomp As of August 31, 2023
Operating Unit Annual Target Actual TO based on annual tar
Target Actual TO % Accomp
CW ACCOMPLISHMENT
NCR 58,936.574 35,335.274 60% 34,820.43 35,335.274 101%

La Union HBC 1,251.338 650.265 52% 744.40 650.265 87%

Tuguegarao HBC 781.429 59% 813.50 96%

1,325.817 781.429
San Fernando Hub 10,721.207 55% 11,972.57 90%
19,482.948 10,721.207
North Luzon 22,060.103 12,152.901 55% 13,530.47 12,152.901 90%

Calamba Hub 11,059.298 56% 11,513.63 11,059.298 96%

19,677.485
in terms of LOAN VALUE - As of August 31, 2023

Naga HBC 1,396.609 57% 1,580.68 1,396.609 88%

2,432.049
South Luzon 22,109.534 12,455.907 56% 13,094.31 12,455.907 95%

Bacolod HBC 3,898.682 71% 3,426.88 3,898.682 114%

5,486.715
Cebu Hub 5,490.744 67% 4,940.09 5,490.744 111%
8,154.350
Visayas 13,641.065 9,389.426 69% 8,366.98 9,389.426 112%

Davao Hub 4,520.268 63% 4,702.02 4,520.268 96%

7,151.491
Zamboanga HBC 858.159 52% 912.90 858.159 94%
1,663.810
Cagayan De Oro HBC 2,239.879 55% 2,310.41 97%
4,074.586 2,239.879
Mindanao 12,889.887 7,618.306 59% 7,925.33 7,618.306 96%

Corporate Total 129,637.163 76,951.814 59% 77,737.52 76,951.814 99%

 As of August 31, 2023
Annual % Accomp
Operating Unit Actual TO
CW ACCOMPLISHMENT

Target based on annual tar

Target Actual TO % Accomp

La Union HBC 1,251.338 650.265 52% 87%

744.40 650.265

Tuguegarao HBC 781.429 59% 96%

1,325.817 813.50 781.429
in terms of LOAN VALUE - As of August 31, 2023

San Fernando Hub 10,721.207 55% 90%

19,482.948 11,972.57 10,721.207

North Luzon 22,060.103 12,152.901 55% 13,530.47 12,152.901 90%

Corporate Total 129,637.163 76,951.814 59% 77,737.52 76,951.814 99%

TOTAL NO. OF

CORPORATE-WIDE
ACCREDITED DEVS 442
as of AUGUST 31, 2023 NO. OF DEVELOPERS
NO. OF DEVELOPERS

314 34

Regular
NO. OF DEVELOPERS

Multiple Class
29
Window 2

Window 1 NO. OF DEVELOPERS

59
Prime

NO. OF DEVELOPERS

6
CORPORATE-WIDE
ACCREDITED DEVS 442
as of AUGUST 31, 2023
NO. OF DEVELOPERS
NORTH LUZON
Window Classification
NO. OF DEVELOPERS
34
314
No. of Developers
NO. OF DEVELOPERS
Window 1 15
Regular 29
Prime 1

Multiple Class
Window 2 58

Regular 7 Window 2

Window 1 NO. OF DEVELOPERS

Multiple Class 13
59
TOTAL 94 Prime

NO. OF DEVELOPERS

6
TAKE OUT
SOURCES
AS OF AUGUST 31, 2023
 % SHARE

12%
% SHARE

17%

Breakdown per Window 3

ROPA
CLASSIFICATION % SHARE

22%
No. of Units

Window 2
ROPA 9,511

Window 1 26,945

Window 2 12,103

Window 3 6,766
Window 1

% SHARE

49%
 % SHARE

18% % SHARE

11%
ROPA
Breakdown per Window 3
CLASSIFICATION

Loan Value

ROPA 8,186.43

Window 1 34,399.26 Window 2

Window 2 16,002.63
Window 1
% SHARE
Window 3 12,746.06
22%
% SHARE

48%
 % SHARE

16%
% SHARE

16%
% SHARE

Breakdown per
SOUTH LUZON 12%
Group
VISAYAS
NORTH LUZON
Loan Value

NCR 33,094.00
MINDANAO
NORTH LUZON 11,316.73

SOUTH LUZON 11,350.89

VISAYAS 8,486.66 % SHARE

MINDANAO 7,086.11 10%

NCR

% SHARE

46%
REMINDERS ON

FUNDING
ALLOCATION
FUNDING ALLOCATION

Budget provided by the Fund for

the release of takeout proceeds
to accredited developers
SPOT FUNDING ALLOCATION

Granted to developers with request for FA but not yet approved by

the Accreditation Committee, subject to the following conditions:

the developer has a request for Funding Allocation;

the loan applications are readily available for delivery; and
the developer has passed the eligibility criteria for FA

Equivalent to the loan amount provided in the housing loan

applications ready for delivery.

The amount shall be deducted upon approval of the Funding

Allocation for the year.
REMI N D E R S O N

FUNDING ALLOCATION

Application for a new funding allocation for the coming year is

required, subject to the terms and conditions provided in the
prevailing guidelines.

In case the Funding Allocation for the year has been fully
utilized before the end of the year, the developer may request
for additional allocation, subject to the terms and conditions
provided in the prevailing guidelines.
REMI N D E R S O N

FUNDING ALLOCATION
A written notification must be submitted at least thirty (30)
calendar days before the end of each calendar quarter if
projected accounts will not be delivered based on the scheduled
drawdown within the subject quarterly period

Failure to inform the Fund of the non-delivery based on schedule

shall affect the utilization of the FA and be taken into consideration
in the imposition of the Commitment Fee.

Any unutilized Funding Allocation at the end of December of the

calendar year shall be forfeited
REMINDERS ON

COMMITMENT FEE

A charge imposed on the developer who fails to utilize at least 80% of

their Funding Allocation in a given quarter.

It is equivalent to one-half percent (1/2%) of the budget allocation for

the succeeding quarter.

If utilization of FA for the 4th quarter is less than 80%, commitment fee
shall be based on either:

the 1st quarter delivery for the succeeding year based on the
submitted schedule. In case the developer utilized 80% of the
funding allocation at the end of 1st quarter, the Commitment Fee
charged shall be refunded.

the remaining unutilized FA for the 4th quarter of the subject year;
this is non-refundable.
PERFORMANCE
EVALUATION RATINGS
PERFORMING
ACCOUNTS RATIO
Percentage of accounts taken out in the last 24 months prior to the
date of application are not in arrears for more than 3 months at
point of evaluation

Window 2
Window 1 Regular Developers
Prime Developers
FA ≤ 500M FA ≥ 500M

90% 80% 90%

Q UA L I TY O F
MORTGAGE DOCUMENTS RATIO
Percentage of the total number of accounts delivered as of the
quarter prior to date of evaluation that are properly documented

Window 2
Window 1 Regular Developers
Prime Developers
FA ≤ 500M FA ≥ 500M

95% 80% 90%

QUALITY OF UNITS RATIO
Percentage of the total number of accounts delivered as of the
quarter prior to date of evaluation has passed inspection

Window 2
Window 1 Regular Developers
Prime Developers
FA ≤ 500M FA ≥ 500M

90% 80% 90%

BUYBACK PERFORMANCE
Window 2
Window 1 Regular Developers
Prime Developers
FA ≤ 500M FA ≥ 500M

No accounts due for buyback

CONVERSION PERFORMANCE
Percentage of the accounts taken out that are due for conversion
as of the quarter are already converted

Window 2
Window 1 Regular Developers
Prime Developers
FA ≤ 500M FA ≥ 500M

90% 80% 90%

REMINDERS ON

REQUIRED PERFORMANCE STANDARDS

Developer’s performance are evaluated quarterly to maintain its

classification, be upgraded to the next higher classification or be
downgraded to the next lower classification

A developer that fails to maintain its level of performance to meet

criteria for its present classification for two (2) consecutive quarters
shall be downgraded to and subject to the terms and conditions of
a lower classification.
REMINDERS ON

CHECK POINT ITEMS

Outstanding EWT payment obligations

Unreturned Titles

Documentary & Technical Undertakings

No Payment Since Take-Out Accounts

Pag-IBIG Housing
Programs
SA LI ENT FEATU RES
Pag-IBIG Fund
Twin Mandates

PROVIDENT SAVINGS SHELTER FINANCING

Administer the Provide a loan facility
Filipino workers’ savings for Filipino workers who wish to
that provides competitive purchase or acquire a
returns, is tax-free and home of their own, at low
guaranteed in full by the interest rates and at the
government. most affordable terms

Mandatory membership for Filipino workers

earning at least ₱1,000 a month
Borrower-Friendly Terms!
Pag-IBIG Housing Loan

Borrow up to
₱ 6,000,000.00
Longest Payment Terms

up to 30 Years
No Prepay Penalties

Multiple Loans allowed

as basis for Capacity to Pay
Borrower-Friendly Terms!
Pag-IBIG Housing Loan

Low Interest Rates

based on Repricing Period

Penalty on unpaid Amortization

Amount
based ondue instead of Total Loan
No extra charge for
Advance/Full payment

35% Gross Monthly Income

as basis for Capacity to Pay
Salient Features
DEVELOPER ACCREDITATION

Buyer’s Preferred Financing Option

Assured Funding Allocation
Dedicated Lane for Accredited Developers
Faster Release of Loan Proceeds
Competitive Interest Rates
Access to Institutional Loans
Access to Online Platforms
FREE
Dedicated Housing Relationship Officer (HRO)
 Roles of HROs

1 2 3 4

PRODUCT CONTACT INFORMATION PARTNER in

EXPERT PERSON MANAGER MONITORING
HRO’s Checklist of Items for Monitoring

ACCREDITATION, PERFORMANCE
KNOW YOUR CLIENT FUNDING ALLOCATION, EVALUATION
(KYC) UTILIZATION AND RATINGS (PER)
COMMITMENT FEE and PLR

STATUS OF DEVELOPERS’
DELIVERIES AND ACCOUNTS AND COMPLIANCE TO
TAKE-OUT PROCESSING TIME PORTFOLIO MIX

DEVELOPERS’ ENROLLMENT DEVELOPERS’ DEVELOPERS’

TO CHECKLESS UNCLAIMED CHECKS COMPLIANCE TO
DISBURSEMENT AND ISSUANCE OF SI EWT, UNRETURNED
FACILITY AND CLRP TCTs, EPEB & DOU

DEVELOPERS’ POTENTIAL
ACCOUNTS REPURCHASE PROJECTS/
RECEIVABLES OF ROPA INVENTORIES
HRO’s Checklist of Items for Monitoring

ACCREDITATION, PERFORMANCE
KNOW YOUR CLIENT FUNDING ALLOCATION, EVALUATION
(KYC) UTILIZATION AND RATINGS
COMMITMENT FEE (PER) and PLR

STATUS OF DEVELOPERS’
DELIVERIES AND
ACCOUNTS AND COMPLIANCE TO
TAKE-OUT
PROCESSING TIME PORTFOLIO MIX

DEVELOPERS’ DEVELOPERS’
DEVELOPERS’ ENROLLMENT
TO CHECKLESS UNCLAIMED CHECKS COMPLIANCE TO
DISBURSEMENT AND ISSUANCE OF SI EWT, UNRETURNED
FACILITY AND CLRP TCTs, EPEB & DOU

DEVELOPERS’ POTENTIAL
ACCOUNTS REPURCHASE
PROJECTS/
RECEIVABLES OF ROPA
INVENTORIES
Best Practices
P - Provide factual and reliable data on time
A - Accountability
R - Resolve issues/concerns ASAP
T - Target Oriented
N- Nurture partnership/professional relationship
E - Escalate
R - Remind each other of the pending items
S - Stay connected
Project
Accreditation
REQUIREMENTS,TIMELINE & PROCESS
 PROJECT Accreditation
TECHNICAL REQUIREMENTS

Checklist of Technical
Requirements for
Preliminary Subdivision
Appraisal
(HQP-WLF-181)
 PROJECT Accreditation
TECHNICAL REQUIREMENTS

Checklist of Technical
Requirements for
Condominium
Appraisal
(HQP-WLF-182)
PROJECT Accreditation
PROCESS & TIMELINE
5. PVD ENROLLS THE
PROJECT TO THE
ACCREDITED PROJECT’S
HRO RECEIVES, CHECK 3, DEVELOPER PAYS THE DATABASE AND ALLOWS
COMPLETENESS OF TECHNICAL APPRAISAL FEE & SUBMIT DELIVERY OF FOLDERS
DOCUMENTS SUBMITTED BY THE RECEIPT TO PVD
DEVELOPER AND TRANSMIT TO PVD

2. PVD REVIEWS TECHNICAL 4. PVD CONDUCTS SITE

DOCUMENTS FORWARDED & INSPECTION & GENERATE
PVD PREPARES & ISSUE APPRAISAL REPORT
BILLING ON APPRAISAL FEE TO
THE DEVELOPER
GREEN Premiums

Solid Waste
Water Efficiency Site Sustainability
Management
 ENERGY Efficiency

1 Building Envelop: Glass Properties

Window to Wall Ratio (WWR) shall

be balanced with Solar Heat Gain
Coefficient (SHGC) to maintain
flexibility in design

Zuellig Building in
Makati City
ENERGY Efficiency

2 Natural Ventilation

This measure will give building

occupants the flexibility and
opportunity to use natural
ventilation for free cooling and
fresh air in regularly occupied
spaces.
ENERGY Efficiency
3 Mechanical System:

Air Conditioning Water Heating System Variable Speed Drives

System and High Efficiency Motors
ENERGY Efficiency
4 Electrical System:

a. Daylight Provision
All regularly occupied spaces
inside the building shall have a
view of any combination of the
following features that can allow
daylight into the room space.
b. Daylight Control Lighting System
Photoelectric sensors connected
to luminaires help in dimming
or switching off lamps that do not
require to be operated due to
presence of adequate daylight.
ENERGY Efficiency
4 Electrical System:

c. Renewable Energy Technologies

Solar Panels, Wind Energy, Hydro
Energy

Via Verde in San Vicente, Sto. Tomas,

Batangas

Provision of solar panel system

6 x 185 WP (photovoltaic modules with
mono-crystalline silicon solar cell; 1110 watt-
peak
GREEN Premiums
 WATER Efficiency
1 Water Fixtures 2 Water Management

Dual flush water closet

Water closet
With sink

Rainwater
Harvesting
System

Handheld Rainwater
Bidet spray
Harvesting
System
Water Recycling
System

Low-flow showerheads
GREEN Premiums
SOLID WASTE Management
1 Material Recovery Facility (MRF)
Dual flush water closet

Solid waste containers shall be provided

Water closet
for atsink
With least four (4) typesLow-flow
Waterless
urinals
of wastes:
showerheads
- compostable (biodegradable)
- non-recyclable (to be disposed off in
the landfill)
- recyclable (paper, cardboard, plastic,
metal, wood, etc.)
Handheld - special waste
Bidet spray

Rainwater Harvesting System Water Recycling System

GREEN Premiums
SITE Sustainability
1 Open Space Utilization
Dual flush water closet

Provision of green areas like:

- closet
Water vegetated roofdeck
Waterless
With sink urinals Low-flow showerheads
- landscaped areas
- wall mounted plants and vegetation
- plant boxes

Handheld
Bidet spray

Rainwater Harvesting System Water Recycling System

DEVELOPERS Premiums
Factors that will be considered in the valuation process:

1. Diversity and Scope of Real Estate Portfolio

Nationwide

2. Reputation

3. Market Performance

4. Impact on Real Estate Development

ISSUANCE OF

CONFIRMATION OF APPRAISAL
REQUIREMENTS, TIMELINE AND PROCESS
Photocopies of the following:

1. Housing Loan Application Form

2. Preliminary / Updated Appraisal (model unit highlighted)
3. Individual Transfer Certificate of Title/Condominium
Certificate of Title
4. Building, Electrical & Sanitary Permits
5. Tax Declaration
6. Undertakings (if applicable)
 Receives
list of
housing
START
units
subject for
inspection
As transmitted
by Servicing Endorses
Department thru
a Memo Y Prepares COD
Manager / COA or
Encodes to Asst. memo to
Conducts confirmation reviews
the Manager servicing
site of appraisal the COA or
appraisal signs / department
OK? database
inspection or Memo of memo of
approves for issuance
Findings findings
the report to
developer
N

Notice of
Deficiency

Corrective
Action
A Memorandum shall be prepared for
accounts with technical findings noted
during site inspection indicating the need to
comply with the specific lacking
requirements in order to allow takeout.
1. The cash retention based on the approved loan amount shall
be deducted from the takeout proceeds, for any or all of the
following deferred housing and land development
components:

Re-inspection
Retained
Deferred Items Compliance Period / Validation
Amount
Fees
Deferred Item 1: Within fifteen (15) days
Installation of Plumbing and from Notice to Move-in or
Electrical Finishing* six (6) months from
takeout date whichever
comes first
Deferred Item 2: Within fifteen (15) days
One Thousand
Deferred Item 1, plus from Notice to Move-in or
Pesos
-Water Closet 5% six (6) months from
(P1,000.00) per
-Interior Wall Painting takeout date whichever
accounts
comes first
 Retained Re-inspection /
Deferred Items Compliance Period
Amount Validation Fees
Deferred Item 3:
Deferred Item 1+2, plus
- Final coating of paint and tile,
grout reapplication to preserve Within fifteen (15) days
appearance. from Notice to Move-in or P1,000.00 per
- PVC Door, Door Latch & 10% six (6) months from account
Lockset on Toilet & Bath takeout date whichever
- Lavatory & Accessories comes first
- Missing/broken glass panel on
window.
- Stone Cladding
Deferred Item 4: Breakdown Schedule but
Permanent Power and Water not to exceed the P2,000.00 per
3%
Supply approve time to develop project
per License to Sell
Deferred Item 5: Breakdown Schedule but
Sidewalk and Gutter, Construction not to exceed the P2,000.00 per
2%
of access road for heavy approve time to develop project
equipment and/or repair of roads per License to Sell
Extension of Time to Complete
3%
Project Development
2. Developers may be allowed to substitute retention with the following
assignable instruments, the value of which shall be based on the equivalent
retention of the deferred items:

a. Certificate of Time Deposit and other bank certificates

b. Trust/Escrow Account

c. Government Securities (Treasury Bonds, bills, noted, etc.)

d. Other assignable instruments acceptable to the Fund

 Activities Amount Time of Payment Remarks
1. Appraisal Fees P1,000.00 Upon takeout to Coverage:
Developer-Assisted be deducted from a. One-time inspection of the subject property,
(Window 1 and Window loan proceeds and
2) Housing Loan
b. Issuance of Confirmation of Appraisal (COA)
Accounts
2. Re-inspection Fees P1,000.00 Upfront by the Regardless of the number of subject property/ies to
developer prior to be re-inspected in the same
the conduct of re- subdivision/condominium, the re-inspection fee shall
inspection be still charged per property inspection.
3. Validation Fee P2,000.00 Upfront by the This is for the monitoring of the status of completion
developer prior to of land development (amenities/facilities, power
the conduct of and water supply).
inspection
4. Appraisal Fee for P1,000.00 Upon takeout to The appraisal report issued thereon under
Advance Inspection be deducted from developer–housing loan accounts shall be used as
loan proceeds basis for the evaluation of application for housing
loan; provided that, the report is still valid at the time
of application. Said appraisal report is issued for
advance appraisal of developer-assisted housing
loan accounts shall be valid within two (2) years
from the issuance date. The issuance date herein
shall be the date of inspection based on the
Confirmation of Appraisal (COA) report.
APPRAISAL TIMELINE

End-User Financing
5 working days
Developer Assisted (Window 1)
End-User Financing
5 working days
Developer Assisted (Window 2)
20 Working Days
Project Accreditation
22 working days
Preliminary & Updating Appraisal
 TECHNICAL
Letter Request
Addressed to:
NANETTE G. T. ABILAY
Acting Vice President- HLO Luzon Group
1
THRU: LINO R. TOLENTINO
Division Chief III
Property Valuation Department

Duly Received Request Letter/Application/Certification Form of

2
developer to POWER & WATER PROVIDER/HLURB/LGU
3 Payment Receipt from POWER & WATER PROVIDER/HLURB/LGU
After Approval of Request for Undertaking:
4 Deed of Undertaking (Notarized, Original Copy) shall be submitted
within 5 working days
SAMPLE
SAMPLEDEED
DEEDOF
OFUNDERTAKING
UNDERTAKING
Make sure to use the correct
coded form of DOU.

Fill out properly the data.

Name, designation and address
of the developer’s
representative should match on
the submitted Secretary
Certificate as well as the
Project’s name.

Provide the list of accounts

covered by the Undertaking on
the table provide. Use and
attached Annex A if the list of
accounts covered by the
Undertaking will not fit
in the table.
SAMPLE DEED OF UNDERTAKING

Don’t forget to input the

respective validity of the
undertaking
SAMPLE DEED OF UNDERTAKING

Make sure that your

representative have signed the
Undertaking including the
witnesses.

Notarized DOU and Attachments

are needed prior to submission of
Request for Documentary/
Technical Undertaking.

Note:
Developer’s authorized
representative must affix their
signature on all pages of the DOU
as well as the Annex. Pages must
have been indicated to show the
limitations of the Annex.
Quality of Units

No. of units that

pass inspection
Quality of
Units = = ___ %
No. of units delivered and inspected as of
the quarter prior to date of application

Only delivered accounts shall be considered. This is, however,

without prejudice to the collection of re-inspection fees for
defective/incomplete units, regardless if the inspection is
advanced or otherwise.
Q UA L I TY O F
MORTGAGE DOCUMENTS RATIO/
CDCR
Percentage of the total number of accounts delivered as of the
quarter prior to date of evaluation that are properly documented

Window 2
Window 1 Regular Developers
Prime Developers
FA ≤ 500M FA > 500M

95% 80% 90%

COMMON DOCUMENTATION
DEFICIENCIES JULY 2023
Developer Deficiency
No attached latest Certificate of Employment
Tandang Sora Housing and Compensation (n=1) (FAO: Pawis,
Princess.)
Submitted CEC has no signature of
Several employer's authorized representative (n=1)
(FAO: Sacramento, Mark John P.)
No attached updated Tax Receipt for Lot and
Neshvita Building (n=1) (FAO: Dimaranan, Francisco
C.)
No attached duly accomplished Authorized
Radar Representative Information Sheet (ARIS)
(n=1) (FAO: Batag, Ma Tresian Jeressa M.)
No submitted certified ITR 1701 for 2022
1234
(n=1) (FAO: Batag, Ma Tresian Jeressa M.)
MS contribution is not updated, less than 24
months (n=1) (FAO: Junio, Woody C.)
Thailand
No attached technical documents. (n=1)
COMMON DOCUMENTATION
DEFICIENCIES JULY 2023
Developer Deficiency
No attached duly accomplished Conformity on
Non-related borrowers and Employment
Bagong Bayan
Contract (n=1) (FAO: Quintero, Meghan Kevin
L.)
No attached valid employment contract of co-
borrower (n=1) (FAO: Amposta, Ferdinand G.)
No attached Certificate of Employment and
1234 Compensation or certified 1-month pay slip
(n=1) (FAO: Provido, Trisha Mae O.)
Lapsed EPEB (n=1) (FAO: Napa, Sunshine
R.)
No attached Borrower's Validation Sheet and
I’m the best
screenshots (n=1) (FAO: Cano, Bernabe L.)
No attached Borrower's Validation Sheet and
screenshots (n=1) (FAO: Belicena, Cleah R.)
Tandang Sora Housing No attached Certificate of Employment and
Compensation or certified 1-month pay slip
COMMON DOCUMENTATION
DEFICIENCIES JULY 2023
Developer Deficiency
Memo-COA (COA with Findings) No
submitted technical documents for the
Worcestershire re-inspection of the subject property
(n=2) (FAO: Aguilar, Ivory DR.; Lazaro,
John Carlo Bien P.)
No attached original TCT or valid EPEB
Access Nya
(n=1) (FAO: Amon, Simeon)
No attached latest Certificate of
Pang-Masa Ito Employment and Compensation (n=1)
(FAO: Lora, Crisaliz B.)
With submitted COE of co-borrower but
C3C5 no compensation indicated (n=1) (FAO:
Perez, Henry S.)
COMMON DOCUMENTATION
DEFICIENCIES JULY 2023
Developer Deficiency
Attached residence card (Iqama) and employment
Several
contract were expired (n=1) (FAO: Rosario, Ryan D.)
With submitted Certificate of Employment but
Zinc House compensation was not indicated (n=1) (FAO:
Pancho, Jeferson B.)
No attached latest Certificate of Employment and
Bestfriend
Compensation (n=1) (FAO: De Guzman, Nina C.)
No attached request letter from principal borrower for
Winter Hills additional co-borrower (n=1) (FAO: Tolentino,
Michelle M.)
No attached latest Certificate of Employment and
Ray of Light Compensation (n=2) (FAO: Vedad, Mac Chester;
Latorero, Maricel)
With history of FAA account (n=1) (FAO: Alvarez,
Rose Ann L.)
Worcestershire No attached Borrower's Validation Sheet and
screenshots of co-borrower (n=1) (FAO: Del Mundo,
Pamela G.)
COMMON DOCUMENTATION
DEFICIENCIES JULY 2023
Developer Deficiency
Conformity form on non-related borrowers has no signature of
1234
co-borrower (n=1) (FAO: Ramos, Geraldine G.)

No submitted certified BIR Form 2316 for 2022 (n=1) (FAO:

Aspa, Renn Joseph S.)
Memo-COA (COA with Findings) No submitted technical
documents for the re-inspection of the subject property (n=1)
(FAO: Asuncion, Melizza Jane S.)
No submitted CTS, DOASPA, and Health Statement Form as
Naic post-compliance (n=1) (FAO: Balmaceda, Arlene R.)

No submitted CTS (fresh account) (n=1) (FAO: Hernandez,

Justine T.)

No submitted original HLA form (n=1) (FAO: Villorente,

Lourdes S.)

No attached Occupancy Permit (n=1) (FAO: Gayanilo,

Alpine
Romnick Henrie Henry M.)
COMMON DOCUMENTATION
DEFICIENCIES JULY 2023
Developer Deficiency
No attached Promissory Note (n=3) (FAO: Basquinas, Sarah
Jane C.; Javin, Jeffrey O; Osial, Alvin G.)

No attached request letter from principal borrower for change

of co-borrower (n=1) (FAO: Borinaga, Benjamin N.)
Thailand
No attached duly accomplished Authorized Representative
Information Sheet (ARIS) (n=1) (FAO: Baculinao, Norielle B.)
No attached latest Certificate of Employment and
Compensation (n=1) (FAO: Alar, Crizaldy T.)

No attached request letter from principal borrower for change

Bestfriend
of co-borrower (n=1) (FAO: Blabay, Christine Gene A.)

No attached latest employment contract (n=1) (FAO: Obiso,

City Houses
Rogie C.)

No attached updated Tax Receipt for Lot (n=1) (FAO:

Best Man
Coronel, Marcus Lawrence T.)
CREDIT & BACKGROUND

INVESTIGATION
REQUIREMENTS
CREDIT INVESTIGATION
REQUIREMENTS

HOUSING LOAN VALID ID CARD SPECIAL POWER INCOME

APPLICATION with signature OF ATTORNEY and DOCUMENTS
FORM AUTHORIZE
REPRESENTATIVE
INFORMATION SHEET
if applicable
CREDIT INVESTIGATION REQUIREMENTS:
HOUSING LOAN APPLICATION FORM
MID Number
HOUSING LOAN APPLICATION FORM

1 2 1 0
1 4 3 4
4 3 2 5
PROCEDURE ON THE MEMBERSHIP
REGISTRATION

1. Accomplish the Members Data Form

2. Register with the Fund through the following:
• Virtual Pag-IBIG
• Register at the Pag-IBIG Branch
• Bulk submission of Members Data Form (hardcopy)
by the employer/authorized representative
Permanent and Present Home Address

130 MAXIMA BLDG LEXINGTON ST

HOUSING LOAN APPLICATION FORM

GREENSIDE SUBD. SAN PABLO CITY LAGUNA 4000

130 MAXIMA BLDG LEXINGTON ST

GREENSIDE SUBD. SAN PABLO CITY LAGUNA 4000

Home Ownership
HOUSING LOAN APPLICATION FORM
For Borrower’s With Existing Housing Loan
HOUSING LOAN APPLICATION FORM
Borrower’s Contact Details
HOUSING LOAN APPLICATION FORM
Active e-mail address
Active home/mobile number
 Employer’s direct line

Employer’s Email Address

Employer’s preferred time

to be contacted
HOUSING LOAN APPLICATION FORM
Employer’s Contact Details
CREDIT INVESTIGATION
REQUIREMENTS

HOUSING LOAN VALID ID CARD SPECIAL POWER INCOME

APPLICATION FORM with signature OF ATTORNEY and DOCUMENTS
AUTHORIZE
REPRESENTATIVE
INFORMATION SHEET
if applicable
 Passport, issued by the Philippine or Foreign Government
Professional Regulation Commission (PRC) ID
Social Security System (SSS) Card
Government Service Insurance System (GSIS) eCard
IDENTIFICATION CARDS

Government Office and GOCC ID (e.g., AFP ID, Pag-IBIG Loyalty Card)
Integrated Bar of the Philippines (IBP) ID
Overseas Workers Welfare Administration (OWWA) ID
Seafarer’s Identification and Record Book (SIRB)
PhilSys or National ID
Driver’s License
Senior Citizen Card
Postal ID
LIST OF

Voter’s ID
Overseas Filipino Worker (OFW) ID
CREDIT INVESTIGATION
REQUIREMENTS

HOUSING LOAN VALID ID CARD SPECIAL POWER INCOME

APPLICATION FORM with signature OF ATTORNEY and DOCUMENTS
AUTHORIZE
REPRESENTATIVE
INFORMATION SHEET
if applicable
SAMPLE OF

SPECIAL POWER OF
ATTORNEY (SPA)
HQP-HLF-064
(V03, 04/2023)
SAMPLE OF
AUTHORIZE REPRESENTATIVE
INFORMATION SHEET (ARIS)
SAMPLE OF
AUTHORIZE REPRESENTATIVE
INFORMATION SHEET (ARIS)
SAMPLE OF
AUTHORIZE REPRESENTATIVE
INFORMATION SHEET (ARIS)
CREDIT INVESTIGATION
REQUIREMENTS

HOUSING LOAN VALID ID CARD SPECIAL POWER INCOME

APPLICATION FORM with signature OF ATTORNEY and DOCUMENTS
AUTHORIZE
REPRESENTATIVE
INFORMATION SHEET
if applicable
 LOCALLY EMPLOYED (GOVERNMENT)

Certificate of Employment One (1) Month Pay Slip Letter of

and Compensation (CEC) • Latest Consent/Authorization of
• Latest • Certified True Copy Applicant duly received by
• Original Employer
• Duly Signed by Employer's (per Data Privacy Law)
Authorized Signatory
LOCALLY EMPLOYED (PRIVATE)

Certificate of Employment Letter of

and Compensation (CEC) Consent/Authorization of
• Latest Applicant duly received by
• Original Employer
• Duly Signed by Employer's (per Data Privacy Law)
Authorized Signatory
Certificate of Employment
INCOME DOCUMENTS
Certificate of Employment
INCOME DOCUMENTS
Certificate of Employment
INCOME DOCUMENTS
Certificate of Employment
INCOME DOCUMENTS
Pay Slip
INCOME DOCUMENTS
 INCOME DOCUMENTS

LATEST &
CERTIFIED BY BIR
Annual and Quarterly

As applicable
Income Tax Return
 Latest Income Tax Return (ITR) for the year immediately
preceding the date of loan application, with attached
BIR Form No. 2316, duly acknowledged by the BIR or
INCOME DOCUMENTS

authorized representative of employer.

The GMI to be considered is the sum of the annual basic

Income Tax Return

salary indicated on Item No. 37 (Basic Salary) of BIR Form

No. 2316 and the annual supplementary income
indicated on Items 43 – 45 (Commissions, Profit Sharing,
and Fees) of the said form divided by 12 months.
 INCOME DOCUMENTS

LATEST &
CERTIFIED BY BIR
Annual and Quarterly

As applicable
Income Tax Return
 INCOME DOCUMENTS

800,000.00
1,500,000.00
100,000.00
Income Tax Return

2,400,000.00
/ 12 months

200,000.00
Duly Received Letter of Consent

INCOME DOCUMENTS
 INCOME DOCUMENTS
O V E R SFilipino
Overseas E A S FWorkers
I L I P I N(OFW)
O WORKER

Employment Contract Overseas Employment Letter of

• Unexpired Certificate Consent/Authorization of
• Employer’s Format / DMW • Unexpired Applicant duly received by
Standard Format Issued by DMW
• Employer
• Must Contain Employer’s Valid • Photocopy (for Seafarers Only; per Data
Email Address
Privacy Law)
OVERSEAS FILIPINO WORKER

SUPPORTING DOCUMENTS

• Pay Slip indicating income received & period covered (issued by employer, photocopy)

• Valid OWWA Membership Certificate (issued by OWWA, photocopy)

• Passport with appropriate visa (Working Visa, photocopy)

• Residence Card/Permit (permit to stay indicating work as the purpose (from Host
country/Government, photocopy)

• Bank remittance record (1 original copy) Member-Applicant/ Borrower

IMMIGRANT

Employment Contract Immigrant VISA /

• Unexpired Permanent Resident Card
• Employer’s Format • Unexpired
• Must Contain Employer’s • Photocopy
Valid Email Address

Certificate of Employment Work Permit Card

• Unexpired
and Income
• With English Language
• Latest
Translation
• Original Copy with Letterhead
• Photocopy
• Must Contain Employer’s Valid
Email Address
 INCOME DOCUMENTS

Unexpired, Employer’s Format or

DMW Format, Photocopy, with
English translation if it is written in
Employment Contract

foreign language, income and

duration must be indicated.
 INCOME DOCUMENTS
Employment Contract

(Unexpired,
issued by DMW,
Photocopy)
Work Permit Card/ Visa

INCOME DOCUMENTS

(Unexpired,
Photocopy)
OWNER OF BUSINESS

Income Tax Return Business/Mayor’s Permit

(BIR Form No. 1701) • Current Year
• Latest • Photocopy
• Certified by BIR
• Annual or Quarterly
(Whichever is applicable)
DTI Business Registration
• Unexpired
Audited Financial Statements
• Photocopy
• Latest
• Consistent with ITR
• Photocopy

Sketch of Business Location

Official Receipt / • Clear Copy
Deposit Slip with Bank • Detailed Sketch from a
• Photocopy Landmark

Letter of Consent/Authorization
of Applicant for Credit and
Background Investigation
(per Data Privacy Law)
ONLINE EMPLOYMENT

Certificate of Letter of Consent/Authorization of

Employment and Applicant for Bank Verification indicating
Income the following information:
• Latest (per Data Privacy Law & Bank Secrecy Law)
• Original Copy • Account Name
• with Email Address • Account Type
of Employer • Account Number
• Opening Date
• Depository Bank

Bank Statement Sketch of Business Location

• Latest 12 months • Clear Copy
• original copy • Detailed Sketch from a
• signed by Bank’s Landmark
Manager
COMMISION-BASED EMPLOYMENT

Cheque Commission Letter of Consent/Authorization

Voucher of Applicant for Credit and
• Certified by Issuer Background Investigation
• Latest 12 months (per Data Privacy Law)
PROPERTY LESSOR

Lease Contract Letter of

• Photocopy Consent/Authorization of
• Notarized Applicant for Credit and
Background Investigation
(per Data Privacy Law)

Proof of Ownership
(Title/Tax Declaration) Sketch of Business Location
• Photocopy • Clear Copy
• Under the name of • Detailed Sketch from a
applicant Landmark
TRANSPORT VEHICLE OPERATORS

Transport Franchise Official Receipt (OR) + Letter of Consent/Authorization

• Certified True Copy Certificate of of Applicant for Credit and
• Issued by Franchising Agency Registration (CR) Background Investigation
- Tricycles – LGU • Photocopy (per Data Privacy Law)
- PUJ/PUV/Taxi – LTFRB
- Sea Transports - MARINA
TRANSPORT VEHICLE DRIVER

Transport Franchise Professional Driver’s License

• Certified True Copy
• Photocopy
• Issued by Franchising Agency
- Tricycles – LGU
- PUJ/PUVT/axi – LTFRB
- Sea Transports - MARINA

Letter of
Certificate of Engagement Consent/Authorization of
• Original Copy Applicant for Credit and
• Issued by Operator and Background Investigation
Certified by Brgy. Captain (per Data Privacy Law)

Official Receipt (OR) +

Certificate of Registration (CR)
• Photocopy
INFORMAL INCOME EARNERS
MICRO-ENTREPRENEURS, PRIVATE HOUSEHOLD,
FARMING, OTHERS

Certificate of Engagement
• Original Copy
• For Micro-Entrepreneurs - Certified by Barangay Captain
• For Private Household – Issued by Employer and certified by Barangay Captain
• For Farmers – Issued and certified by LGU
Certificate of Engagement
ONLINE

BORROWER’S
VALIDATION
REQUIREMENTS
ONLINE BORROWER’S VALIDATION
PROCEDURES
1. The Developer shall prepare the list of borrowers for validation and coordinate
with Business Development Department (BDD) for the schedule and conduct of
online borrower’s validation.
2. The BDD shall send an email to Servicing Division/Department for the schedule
of the Online Borrower’s Validation (OBV).
3. The BDD and the developer shall facilitate the OBV through video conference.
4. The Servicing Division/Department shall conduct the OBV and discuss the
following:
• Discuss the required topics regarding the policies of Pag-IBIG Fund housing
loan and address the queries/concerns of member-borrower and/or attorney-
in-fact
• Validate the information indicated in the Housing Loan Application
5. The Servicing Division/Department shall also do the following:
• Capture the documents of member-borrower and attorney-in-fact.
• Save the document the captured documents of member-borrower and
attorney-in-fact.
ONLINE BORROWER’S VALIDATION
REMINDERS

Request for OBV must be sent thru email three (3) days prior to the
date of validation.
Use the prescribed format in excel file

Maximum participants per Online Borrower’s Validation is 25

borrowers
Co-borrowers and Attorney-In-Fact are counted separately

OBV are hosted by CSG and Developer

Co-hosted by CAD-Validator

Note:
• After the OBV, the developer will consolidate the Borrower’s Validation Sheet (BVS) from the
attendees for submission to Servicing Department – CAD for signing of BVS together with the USB of
video recording of the OBV.

• The properly accomplished BVS must be attached to the folder upon submission of folders to Loans
Originstion Department
ONLINE BORROWER’S VALIDATION
REQUIREMENTS

BORROWER’S TWO (2)

VALIDATION SHEET VALID ID CARDS
HQP-HLF-058 V03, 12/2022
Note if Attorney-in-Fact (AIF):
Fully accomplished Notarized SPA

Photocopy of valid ID with signature of borrower &

valid ID of AIF with 3 specimen signature
Sample Copy
BORROWER’S VALIDATION SHEET
Sample Copy
BORROWER’S VALIDATION SHEET
Conformity on the Pag-IBIG Housing Loan
BORROWER’S VALIDATION SHEET
Online Borrower’s Validation
SAMPLE SCREENSHOT
CREDIT INVESTIGATION/ BORROWERS VALIDATION

COMMON FINDINGS
Borrower is no longer connected with employer

Principal borrower needs to submit signed letter of consent form from the
employer allowing to disclose information regarding employment status

Borrower's income cannot be determined due to non-response of

employer thru email and phone verification

Borrower/Employer's business cannot be located at the given address(

should be detailed sketch and with Landmarks)

Submit certified true copy of ITR 1701-2020, signed and certified by

revenue officer of BIR.

Submit copy of Alien Residence Certificate

Borrower cannot be contacted on scheduled validation

 CREDIT INVESTIGATION/ BORROWERS VALIDATION

COMMON FINDINGS
JAN-JULY 2023 (NCR)
COMMON FINDINGS JAN.-JUNE 2023 JUL. 01-15, 2023 JUL. 16-31, 2023 TOTAL %

1 UNVERIFIED SPA VERIFICATION REPORT 387 18 32 437 10.35%

2 FORGED AND/OR WITH DISCREPANCY 128 11 14 153 3.62%

3 HOMEBASED 55 3 4 62 1.47%

4 LACKING DOCUMENTS 913 67 57 1037 24.56%

5 NO LONGER CONNECTED 137 14 15 166 3.93%

6 NO RESPONSE 1489 147 180 1816 43.00%

7 OFF-BOARD 62 4 6 72 1.70%

8 VALIDATED THRU ACTUAL VISIT (OB) 396 40 44 480 11.37%

TOTAL 3567 304 352 4223 100.00%

Out of 22,188 taken-out HL accounts, 4,223 or 19% are with common CI/BV findings.
Out of 44,106 received HL accounts, 4,223 or 9% are with common CI/BV findings
CREDIT INVESTIGATION/ BORROWERS VALIDATION

COMMON FINDINGS
JAN-JULY 2023 (NCR)
SUMMARY OF CI/BI RESULTS FOR THE PERIOD
AUGUST 1-15, 2023
(NCR)

TOTAL %

WITH VALUE 1141 76.37%

WITH FINDINGS 352 23.56%

IN-PROCESS 1 0.07%

TOTAL 1494 100.00%

LOAN
DOCUMENTATION
Window 1and Window 2
 PROCESS FLOW
WINDOW 1

20 Working Days

DELIVERY CIBI/Eligibility check

APPROVAL

YES

20 Working Days
NO
Developer submits
UNDER WRITINGS TAKEOUT
Folders to HDMF
Notice of Disapproval
- ADVANCE
INSPECTION - 30 calendar days to
- -ONLINE BVS comply
 TIMELINE ON THE PROCEDURE OF MEMBER HOUSING LOAN
APPLICATION UNDER WINDOW 1
BORROWER FOLDERS – INCOME AND
TECHNICAL DOCUMENTS
DEVELOPER’S SWON
DOHLA SUMMARY OR SOFT COPY
OF BORROWER’S PROFILE
Processing of
PFR FOR FILING FEE Conduct Credit Investigation, Release of Loan
Borrower’s Validation, and Evaluate and Approve Application Proceeds
Technical Appraisal

0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
D
A
Y
S

Receive Pag-IBIG Housing

NOTICE OF CHECK
Loan Application and APPROVAL
Documentary Requirements

NOTES

DAYS 1 & 2 - Receive Borrowers Folders and Create Borrowers Profile DAYS 9 to 17 - Evaluate and Approve Application
(2 Working Receipt of borrower’s folder and supporting documents and (9 Working Evaluation of the application. Generation and issuance
Days) uploading/extraction of borrower’s profile. Generation of Days) of Notice of Approval (NOA)/Notice of Disapproval
Membership Status Verification Slip (NOD) to Developer.

DAYS 3 to 8 - Conduct Credit Investigation, Borrower’s Validation, and DAYS 18 to 20 - Post-approval and Processing of Release of Loan
(6 Working Technical Appraisal (3 Working Proceeds
Days) Generation of Credit Investigation Report (CIR), Borrower’s Days) Processing of Request for Payment (RFP) and
Validation Sheet (BVS), and Confirmation on Appraisal DV/Check. Release of Check to Developer.
(COA).
 PROCESS FLOW
WINDOW 2

PRE-APPROVAL POST-APPROVAL

HDMF issues
Notice of Approval or
DELIVERY POST-APPROVAL COMPLIANCE
Notice of Disapproval
NO YES
20 Working Days 90 Calendar Days 7 Working Days

Developer submits Developer submits

Folders to HDMF RELEASE OF NOA Post Approval TAKEOUT
for approval requirements to HDMF
 TIMELINE ON THE PROCEDURE OF MEMBER HOUSING LOAN
APPLICATION UNDER WINDOW 2
BORROWER
NOA
FOLDERS COMPLIANCE
DOCUMENTS
DEVELOPER’S
SWON

DOHLA SUMMARY OR SOFT Post-approval and

COPY OF BORROWER’S Conduct Credit Investigation, 90-day NOA
Processing of Release
PROFILE Borrower’s Validation, and Evaluate and Approve Application compliance
of Loan Proceeds
Technical Appraisal period

0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 0 1 7
D D
A A
Y Y
S S

Receive Buyer’s Folders and CHECK

NOTICE OF
Create Borrower’s Profile
APPROVAL

NOTES

DAYS 1 & 2 - Receive Borrowers Folders and Create Borrowers Profile DAYS 9 to 20 - Evaluate and Approve Application
(2 Working Receipt of borrower’s folder and supporting documents and (9 Working Evaluation of the application. Generation and issuance
Days) uploading/extraction of borrower’s profile. Generation of Days) of Notice of Approval (NOA)/Notice of Disapproval
Membership Status Verification Slip. (NOD) to Developer.

DAYS 3 to 8 - Conduct Credit Investigation, Borrower’s Validation, and DAYS 21 to 27 - Post-approval and Processing of Release of Loan
(6 Working Technical Appraisal (7 Working Proceeds
Days) Generation of Credit Investigation Report (CIR), Borrower’s Days) Processing of Request for Payment (RFP) and
Validation Sheet (BVS), and Confirmation on Appraisal DV/Check. Release of Check to Developer.
(COA).
 TIMELINE ON THE PROCEDURE OF MEMBER HOUSING LOAN
APPLICATION UNDER WINDOW 2
BORROWER
NOA
FOLDERS COMPLIANCE
DOCUMENTS
DEVELOPER’S
SWON

DOHLA SUMMARY OR SOFT Post-approval and

COPY OF BORROWER’S Conduct Credit Investigation, 90-day NOA
Processing of Release of
PROFILE Borrower’s Validation, and Evaluate and Approve Application compliance
Loan Proceeds
Technical Appraisal period

0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 0 1 7
D D
A A
Y Y
S S

Receive Buyer’s Folders and CHECK

NOTICE OF
Create Borrower’s Profile
APPROVAL

NOTES

30 Calendar Days – Compliance period for the Notice of Disapproval

If findings will be noted after the review of the post-approval compliances, we will issue a Notice of Findings.
DETERMINATION OF
LOAN AMOUNT APPROVAL
Loanable Amount based on Capacity to Pay shall be limited
to an amount which the monthly repayment (Principal and
interest) shall not exceed thirty-five percent (35%) (for 3-
year re-pricing period) or thirty percent (30%) (for 1-year
re-pricing period) of the borrower’s gross monthly income

Loanable amount based on loan to appraised value

(LTV) ratio - the value of the collateral being
mortgaged with the Fund
DETERMINATION OF
LOAN AMOUNT APPROVAL
Desired Loan Amount – The amount written by the borrower in the “Desired Loan
Amount” field in the Housing Loan Application.
 HOUSING LOAN
AFFORDABILITY
CALCULATOR
http://pagibigportalkm/cluster/hloc/los/Pages/default.aspx

NOTE: The Housing Loan Affordability Calculator is accessible through the Pag-IBIG Portal (Cluster
> Home Lending Operations Cluster > Loans Operations Sector) or via online at
www.pagibigfund.gov.ph/ac
 HOUSING LOAN
AFFORDABILITY
CALCULATOR

NOTE: The Housing Loan Affordability Calculator is accessible through the Pag-IBIG Portal (Cluster
> Home Lending Operations Cluster > Loans Operations Sector) or via online at
www.pagibigfund.gov.ph/ac
 HOUSING LOAN
AFFORDABILITY
CALCULATOR

"How much income is required for your desired loan value?" (e.g. Php1M desired loan
amount; 30 years loan tenure; 3 years re-pricing period)
DOCUMENTARY UNDERTAKINGS
3% RETENTION FEE

Undertaking Validity Period

Tax declaration 180 calendar days

Updated real estate tax receipt 60 calendar days

20 Working Days
Occupancy permit 60 calendar days

Cancel l ation of Mortgage 90 calendar days

Note: Reckoning of validity is from the date of take-out.

SAMPLE
SAMPLEDEED
DEEDOF
OFUNDERTAKING
UNDERTAKING
Make sure to use the correct
coded form of DOU.

Fill out properly the data.

Name, designation and address
of the developer’s
representative should match on
the submitted Secretary
Certificate as well as the
Project’s name.

Provide the list of accounts

covered by the Undertaking on
the table provide. Use and
attached Annex A if the list of
accounts covered by the
Undertaking will not fit
in the table.
SAMPLE DEED OF UNDERTAKING

Don’t forget to indicate the

respective validity of the
undertaking
SAMPLE DEED OF UNDERTAKING

Make sure that your

representative have signed the
Undertaking including the
witnesses.

Notarized DOU and Attachments

are required prior to submission of
Request for Documentary
Undertaking.

Note:
Developer’s authorized
representative must affix their
signature on all pages of the DOU
as well as the Annex. Pages must
have been indicated to show the
limitations of the Annex.
Quality of Documents

No. of accounts that are properly

Quality of documented
Documents = = ___ %
No. of delivered accounts as of the
quarter prior to date of application
LOANS EVALUATION/ MSVS

COMMON FINDINGS
• Low Gross Monthly Income (GMI) - Borrower can only avail Php 1,198,984.68
based on capacity to pay. Deed of Assignment of Contract to Sell with
Special Power of Attorney (DOASPA) - rectify loan amount.

• Contract to Sell and DOASPA - inconsistent TCT # and technical description

against copy of Transfer Certificate of Title.

• Contract to Sell - for signature of Developer's Representative and/or Deed of

Assignment of Contract to Sell with Special Power of Attorney (DOASPA) - for
signature of Developer's Representative.

• Update borrower's Pag-IBIG Savings

• The borrower must have at least 24 months of contribution

ISSUES AND
CONCERNS
ISSUES AND CONCERNS

Particular Resolution
“This question regards to the No, there will be no findings. Because
previously released new interest rates they documented it already before we
from Pag-IBIG Fund effective on July release new interest rates. The
1, 2023. Will it be a findings if the loan effective interest will be indicated on
folders already submitted to the Fund the Notice of Installment.
uses the old interest rate? When do
we apply new interest rate?”
ISSUES AND CONCERNS

Particular Resolution
Why do we always have Attach the prescribed form of
recurring/piece meal findings? authorization, this will be their consent
to disclose valid income submitted.
Example: The Certificate of System generated COE are accepted.
Employment (COE) is system Employers are given for 48 hours to
generated, first findings is to provide respond to the employment
consent letter from the company. verification. The timeline is within 6
Second findings, updated Certificate days, we should conduct Credit
of Employment and Compensation Investigation (CI), we do call, email,
(COEC). Then no response from and actual visit. We cannot wait for
employer. the employers because we have
timeline maximum of six (6) days.

Some employers indicate the

effectivity period of the COE/COEC,
like this one.
ISSUES AND CONCERNS

Particular Resolution
What kind of allowance that can be All allowances that are regularly
considered in computing Gross received in cash is considered when
Monthly Income (GMI)? computing GMI.

Particular Resolution
Do you acknowledge the advance No, we conduct our own credit
employment verification by developer, investigation.
employer response through email
attached to loan mortgage folder?
ISSUES AND CONCERNS

Particular Resolution
The borrower is currently residing in Yes, we allow issuance of SPA.
the province, and they cannot go to
Manila, are they allowed to issue
SPA?

Particular Resolution
For Online Borrower’s Validation, can No, one borrower per zoom account
we have multiple borrowers that will only.
share in a single zoom account?
ISSUES AND CONCERNS

Particular Resolution
Is it required to notarize the COE for No need to notarize.
government employees?

Particular Resolution
What if employer is using public We are not encouraging the gmail and
domain email address such as gmail yahoo mail.
or yahoo mail? Is it valid or is there
any other option?
ISSUES AND CONCERNS

Particular Resolution
Are the co-borrowers included in the Yes, only the portion of the co-
insurance if in case he/she dies? borrower.

Particular Resolution
For accounts with NOA and submitted For Window 1, 30 calendar days.
for takeout but later LE issued NOF,
which will prevail deadline of NOF or For Window 2, the remaining validity
NOA expiry date? period of the NOA.
ISSUES AND CONCERNS

Particular Resolution
Can we request to include the re- Yes, as it is stated in the Confirmation
inspection fee to deduct on the loan of Appraisal to deduct from the loan
proceeds? proceeds.

Particular Resolution
When will the borrower be informed We consider the preferred time by the
about the credit and background employer indicated on the HLA.
investigation will be conducted?
ISSUES AND CONCERNS

Particular Resolution
How many days before the release of 20 working days (per Citizen’s
NOA after CI? Charter) from the time that Servicing
Division/Department received the
folder.

Particular Resolution
Do you accept photocopy of AIF ID Yes, but the original/valid ID must be
with three specimen signatures? presented for verification.
ISSUES AND CONCERNS

Particular Resolution
In case that the arrival sticker in Acceptable, just photocopy it and
passport is misplaced or gone by the attach it to the folder.
borrower, do you accept ticket of
arrival as an alternative?

Particular Resolution
What if the borrower is receiving a Not acceptable.
constant overtime pay, could this be
considered in the computation of
Gross Monthly Income (GMI)?
ISSUES AND CONCERNS

Particular Resolution
Do you accommodate sea-based Yes, within the reasonable/official
Overseas Filipino Workers (OFWs) for business hours.
SPA confirmation?

Particular Resolution
Do you consider the old Special Yes.
Power of Attorney form since it was
already notarized for pre-approval?
ISSUES AND CONCERNS

Particular Resolution
With regard to medical questionnaire, We accept scanned copy of the
what if the principal borrower who is medical questionnaire, provided that
an OFW was unable to sign the said the signature will match with the
form when he/she was still here in the signature from the submitted
Philippines, can the Fund accept it? photocopies of the principal
borrower’s identification cards.

Particular Resolution
How much of the GMI is required in a 35% of the GMI is required. If an
housing loan application? instance, the principal borrower’s GMI
is insufficient, he/she may have up to
two (2) co-borrowers.
ISSUES AND CONCERNS

Particular Resolution
What is the purpose of MOA for To protect the privacy and information
Virtual Pag-IBIG between developer of the borrowers.
and HDMF?
ISSUES AND CONCERNS

Particular Resolution
What is the purpose of Virtual Pag- This is one of the programs that will
IBIG for developers? enhance provision of service of the
developers to the public since they
will be given access to validate some
of the items of eligibility, one of which
is the borrower’s membership.
Developers will also be able to check
the payment status or record of the
borrower’s salary loan if he/she has
any, which could be advantageous
especially before the delivery since
the developers will already have an
insight about this.
ISSUES AND CONCERNS
(As shared from South Luzon DTF)

Particular Resolution
We have some cases on some of our We cannot take away the opportunity
borrowers that are employed but their or deprive any eligible buyer/borrower
employer is not deducting on their from availing of a loan. They can pay
salary the mandatory contribution. voluntarily if they are ready to avail
Can they pay their contributions the loan.
voluntarily? In what category? Will
that hinder with their housing
application?
ISSUES AND CONCERNS
(As shared from South Luzon DTF)
Particular Resolution
Can the locally employed borrower Yes, we accept SPA even if the
execute SPA or is it only applicable for borrower is not an OFW.
OFW borrower?

Particular Resolution
Are we required to submit certified One of the requirements during the
true copy of documents wherein ISO audit was the certified true copy
original copies were already of documents from the issuing
submitted to Pag-IBIG Fund. agency. So, we will adapt this.
ISSUES AND CONCERNS
(As shared from South Luzon DTF)

Particular Resolution
Can we undertake the title that need No, we cannot undertake title, just
court order decision? And also, can escalate the issue to the HROs and
be considered for retention? provide supporting documents so that
they can give recommendation to the
concerned committee which will then
need approval or any action needed.
This will be evaluated on a case – to –
case basis.
ISSUES AND CONCERNS
(As shared from South Luzon DTF)

Particular Resolution
Can the credit investigator CC the Primarily we only email the employers
borrower or developer when sending since we do not want to dilute or
email to the developer? weaken the standard CI procedure.
However, it is ensured that HROs will
inform the developers or borrowers
once the daily CI monitoring report
email is available/submitted to BDD.
ISSUES AND CONCERNS
(As shared from South Luzon DTF)

Particular Resolution
In the ARIS form, what is the allowed Just leave it blank or put N/A if not
entry under relationship to borrower related with the borrower.
because the only given choice are by
affinity or consanguinity?
ISSUES AND CONCERNS

Particular Resolution
Why does the HDMF issue a Notice of In 2020, we started issuing Notice of
Disapproval instead of a Notice of Disapproval provided that the
Deficiency. Our buyers react to this borrower and developer was already
since disapproval should mean that informed that they have to submit the
the loan is disapproved. needed requirement within certain
number of days.
 A DV I S O RY 2 0 2 1 - 0 0 5

CIRCULAR 444
Amendments to Pag-IBIG Fund Circular No. 388
Applicable Retention Rates
Loan Amount
Government
Agency
Over P500K Over P2M
Up to P500K
to P2M to P6M
BIR 3.5% 5.0% 8.0%
RD 3.0% 1.5% 1.0%
LGU 1.0% 1.0% 1.0%
Total 7.5% 10.0%
Note: Tax Exemption
If the developer is exempted from the payment of tax or
on tax holiday, no BIR-related retention fee shall be
deducted from the housing loan takeout proceeds up to
the extent of the said exemption.

The Developer shall furnish Pag-IBIG Fund with proof of

Certificate of Tax Exemption or any related tax exemption
ruling issued by the BIR, indicating the period covered by
the exemption or validity period. In addition, the
Developer must submit the copy of the filed BIR Form
1606 EWT Return and Confirmation Receipt on the 10th of
the following month from date of takeout.

* Based on Circular 444 or Amendments to Pag-IBIG Fund Circular 388.

Release of Retention Fee
II.7. For existing developers who have paid taxes and fees after to
the loan takeout, the portion of the retention fees corresponding to
the taxes and fees paid shall be released to them upon submission
of the following:

a. For BIR-related taxes

Proof of payment for said taxes

b. For LGU and RD-related taxes

Converted title and Tax Declaration in the name of the
borrower
Timeline of BIR Payment
(EWT & DST)
The developer shall pay the Creditable/Expanded Withholding
Tax (CWT/EWT) and Documentary Stamp Tax (DST) within the
following periods:

CWT/EWT - not later than the 10th of the month

following loan takeout

❖ After the seasoning period:

DST - not later than the 5th of the month following

the date of notarization of the Deed of Absolute
Sale (DOAS).
SAMPLE TIMELINE BIR-RELATED
TRANSACTION
1 2 3

LOAN TAKEOUT PAYMENT OF EWT SUBMISSION TO HDMF OF

Date: July 17, 2023 Date: Aug. 10, 2023 BIR FORM 1606 & DEPOSIT
SLIP
Date: until Aug. 29, 2023

6 5 4

SUBMISSION OF BIR PAYMENT OF DST NOTARIZATION OF

FORM 2000-OT & Date: February 5, DOAS
DEPOSIT SLIP 2025 Date: January 7,
2025
Date: until February
 Template of EWT Details
Excel File
With
BUYER'S DATE OF REVENUE BTR/BIR
TAKE-OUT BUYER'S BUYER'S PAYMENT BIR/BOI NAME OF
HAN MIDDLE PAYMENT DISTRICT BRANCH ACCOUNT
DATE LAST NAME FIRST NAME TYPE Exemption BANK
NAME (MM/dd/yyyy) OFFICE (RDO) NO.
(X)

ENUE BTR/BIR TOTAL

NAME OF
TRICT BRANCH ACCOUNT BASIC TAX PENALTIES AMOUNT DEVELOPER PROJECT LOCAADDR
BANK
E (RDO) NO. DUE
Conversion Period
“The Developer shall begin converting eligible CTS
accounts to REM on the 18th month from date of loan
takeout….

The Developer may convert the CTS account earlier than

the 18th month…”

* Based on Circular 298 or Additional Amendments to Circular 259.

PROCESS FLOW
CONVERSION OF CTS TO REM
 Conversion Process Flow

1 2 3

HDMF generates the list of seasoned Developer notarizes DOAS, Developer submits the
and eligible accounts for conversion. pays DST, updates REPT, Certified Photocopy of
files docket to BIR (for BIR and Transfer Tax
HDMF then release the Pre-Signed e-CAR issuance) and pays payment to HDMF.
Documents (PSD) to Developer. Transfer Tax.

6 5 4

Developer submits the following to HDMF release the TCT to the Developer to process the Developer submits Certified Photocopy of e-CAR and
HDMF within 90 days from receipt of Title Transfer to Borrower’s Name & LMA Annotation Updated REPT Receipt.
TCT from HDMF: and to secure new Tax Declaration at Assessors
• converted TCT with REM Office. HDMF shall provide the Developer the Trust Receipt and
annotation, Deed of Undertaking (DOU).
• converted Tax Dec Developer shall submit the Photocopy of EPEB to
• Original Copy of LMA with RD HDMF within 10 days from receipt of Title. Developer shall notarize the DOU and submit the same
Stamp and Signature within 2 working days.
Conversion Performance
Classification

1. Window 1/Prime Developers

At least 90% conversion performance rating as of the

quarter prior to date of application of Funding
Commitment Line

* Based on Circular 417 or Rationalized Performance Standards for Developers Takeout Mechanism.
2. Window 2/Regular Developers
a. Aggregate Funding Allocation not exceeding P500M
At least 80% conversion performance rating as of the quarter
prior to date of application of Funding Commitment Line

b. Aggregate Funding Allocation exceeding P500M

At least 90% conversion performance rating as of the quarter
prior to date of application of Funding Commitment Line

* Based on Circular 417 or Rationalized Performance Standards for Developers Takeout Mechanism.
THINGS TO CHECK
UPON RECEIPT OF CONVERTED TITLE
F R O M R E G I S T RY O F D E E D S ( R D )
Checking of
Converted TCTs

1. Traceback Title Number

2. Block and Lot Number/Unit/

Floor Number/Building

3. Name of Borrower & Spouse

Checking of
Converted TCTs

4. Lot Area / Floor Area

5. Approved Survey Date

Checking of
Converted TCTs

6. Loan Value on
Annotation of
Deed of
Assignment
 Checking of
Converted TCTs
7. Notarial Details and Loan
Value on REM annotation

8. Annotation of Special
Power of Attorney
(SPA), if applicable
Checking of Converted TCTs

9. Number of Pages of TCT/CCT

Checking of Converted TCTs

10. Signature of Register of Deeds

Conversion - Issuance of Notice
of Buyback

The Notice of Buyback due to Breach of Warranty

(NOBBW) shall be issued upon failure of the developer to
convert/return the borrower’s TCT within 90 days from
date of release.
Remedies
The following are the possible remedies to address the
issued NOBBW:

1. Compliance of Proof of RD Registration/EPEB or

Converted TCT.

2. Full Updating of Member/Borrower Housing Account

or Approved Application for any Home Savers
Program with HDMF
COMMONLY
ASKED
QUESTIONS
Conversion Process
1. Is it allowed to suspend the Conversion Process
for Member/Borrower who became delinquent
in the payment of equity and other obligations
with the Developer?

No.In accordance to Section 3.5 of the Funding

Commitment Agreement, it states that:
The Developer shall convert the CTS accounts to REM at
all cost, and that non-payment of the equity and other
obligations due the Developer from member-buyer shall
not be grounds for non-conversion of CTS accounts
notwithstanding any agreement entered into between
the Developer and the member-buyer.
Full Payment
2. For unconverted fully paid accounts, who will
facilitate the conversion process?

The Developer must continue the conversion process.

Release of TCTs
3. What are the initial requirements for the
authorized Developer’s Representative, to
facilitate the temporary release of TCTs for
conversion?

- Original Secretary Certificate

- Notarized Authorization Letter
- Copy of Valid IDs of Signatory and Authorized
Personnel
Release of TCTs

4. Why are REPT and Transfer Tax Payment required

prior to release of TCT?

The REPT and Transfer Tax Payment are required in order

to avoid long overdue TCTs with Developer and to
ensure the timely entry of TCTs with RD.
Buyback

5. Is the submission of EPEB alone enough to lift the

grounds indicated under the Notice of Buyback
due to Breach of Warranty (NOBBW)?

No. The Developer must satisfy all the requirements to lift

the NOBBW. In addition, the member/borrower must
update his/her HL account as well.
HOME SAVERS
Programs
 Choose the option that’s right for you.

Plan of
Payment

The Pag-IBIG Fund Home Saver Programs provide our Housing Loan
borrowers with various options on how to deal with missed payments.
Spread your unpaid monthly amortizations across your remaining
loan term. You may also get a chance to reduce your monthly
payment by lengthening your loan term.

Open to ALL Housing Loan borrowers, including beneficiaries of

GLAD Program, except the following:

· Housing loans with cancelled Contract-to-Sell (CTS)

· Foreclosed accounts that are already sold to another
individual
· Foreclosed accounts that are already owned by Pag-IBIG
Fund
Interest rate shall be based on Pag-IBIG Fund’s Full-Risk Based
Pricing Framework for restructured loans

Maximum loan term: 30 years, but should not exceed the

difference between borrower's age and age 70
Settle your unpaid amortizations and other dues more affordably
through an installment plan.

Open to ALL Housing Loan borrowers, with at least

three (3) months arrears/unpaid amortizations.
Pay your unsettled dues for up to six (6) months
Waive ALL penalties and additional interest incurred by fully
updating or fully paying your housing loan account

Open to ALL Housing Loan borrowers with at least

three (3) month arrears/unpaid amortizations,
provided that the account is not yet cancelled,
foreclosed, or owned by Pag-IBIG Fund
REPURCHASE OF ROPA
CIRCULAR NO. 441
ELIGIBILITY REQUIREMENTS

Must have transacted with Pag-IBIG

Fund for at least five (5) years.

Must be in good standing, wherein

the developer has maintained its
accreditation with Pag-IBIG Fund.
ELIGIBILITY REQUIREMENTS
Must meet the following evaluation
parameters:

C R I T E R I A R A T I N G
Quality of Mortgage 90%
Quality of Units Ratio 90%
Conversion Performance 90%
Performing Accounts Ratio 90%

Buyback No accounts due for buyback

Must have paid the Expanded/

Creditable Withholding Tax for the
covered accounts.
PROCEDURE ON THE REPURCHASE OF ROPA

Validate developer’s
eligibility
Execute Repurchase
Agreement

MOA Submit LOI Implementation of the

Repurchase Agreement
 Performing Accounts Ratio

Performing Accounts
taken out within the last 2 years
PAR = Accounts taken out within the last 2
years

0-3 months taken out within 2 years preceding to the date of application for FCA, including accounts fully
paid & bought back.
 Performing Loans Ratio

Performing Accounts
PLR =
Total Outstanding Accounts

Exclusions: Accounts classified as Endorsed to Foreclosure Group, With Notice of

Cancellation (WNOC), With Notice of Buyback (WNOB) & Items under Litigation (IUL).