2023 DTF Presentations - Handouts
2023 DTF Presentations - Handouts
2023 DTF Presentations - Handouts
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
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%
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%
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
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
NO. OF DEVELOPERS
6
TAKE OUT
SOURCES
AS OF AUGUST 31, 2023
% SHARE
12%
% SHARE
17%
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 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
% SHARE
46%
REMINDERS ON
FUNDING
ALLOCATION
FUNDING ALLOCATION
FUNDING ALLOCATION
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
COMMITMENT FEE
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
Window 2
Window 1 Regular Developers
Prime Developers
FA ≤ 500M FA ≥ 500M
Window 2
Window 1 Regular Developers
Prime Developers
FA ≤ 500M FA ≥ 500M
Window 2
Window 1 Regular Developers
Prime Developers
FA ≤ 500M FA ≥ 500M
Unreturned Titles
Borrow up to
₱ 6,000,000.00
Longest Payment Terms
up to 30 Years
No Prepay Penalties
1 2 3 4
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’ 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
Solid Waste
Water Efficiency Site Sustainability
Management
ENERGY Efficiency
Zuellig Building in
Makati City
ENERGY Efficiency
2 Natural Ventilation
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:
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
Handheld
Bidet spray
2. Reputation
3. Market Performance
CONFIRMATION OF APPRAISAL
REQUIREMENTS, TIMELINE AND PROCESS
Photocopies of the following:
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:
b. Trust/Escrow Account
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
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
Window 2
Window 1 Regular Developers
Prime Developers
FA ≤ 500M FA > 500M
INVESTIGATION
REQUIREMENTS
CREDIT INVESTIGATION
REQUIREMENTS
1 2 1 0
1 4 3 4
4 3 2 5
PROCEDURE ON THE MEMBERSHIP
REGISTRATION
to be contacted
HOUSING LOAN APPLICATION FORM
Employer’s Contact Details
CREDIT INVESTIGATION
REQUIREMENTS
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
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
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
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
SUPPORTING DOCUMENTS
• Pay Slip indicating income received & period covered (issued by employer, photocopy)
• Residence Card/Permit (permit to stay indicating work as the purpose (from Host
country/Government, photocopy)
(Unexpired,
issued by DMW,
Photocopy)
Work Permit Card/ Visa
INCOME DOCUMENTS
(Unexpired,
Photocopy)
OWNER OF BUSINESS
Letter of Consent/Authorization
of Applicant for Credit and
Background Investigation
(per Data Privacy Law)
ONLINE EMPLOYMENT
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
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)
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
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
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
COMMON FINDINGS
JAN-JULY 2023 (NCR)
COMMON FINDINGS JAN.-JUNE 2023 JUL. 01-15, 2023 JUL. 16-31, 2023 TOTAL %
7 OFF-BOARD 62 4 6 72 1.70%
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 %
IN-PROCESS 1 0.07%
20 Working Days
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
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
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
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
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
NOTES
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
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
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
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.
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.
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.
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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.
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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
* 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
* 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
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
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.
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%
Validate developer’s
eligibility
Execute Repurchase
Agreement
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