Pag-IBIG Fund home loan releases reach P20.94B in Q1 2021; up 33% despite pandemic

UNTV News   •   April 21, 2021   •   328

Pag-IBIG Fund released P20.94 billion in home in the first quarter of 2021 despite the pandemic, an increase of 33% o4 P5.17 billion compared to the P15.77 billion released during the same period in 2020, its top officials announced  on April 13.

“We are happy to report that our home loan release in the first three months of 2021 have increased compared to the same period last year. This increase in our home loan release mean that more Filipino workers are being helped by Pag-IBIG Fund to secure their own homes, which is very important at this time of pandemic. We recognize the role we play in helping keep our members safe in their own homes, as we heed President Rodrigo Duterte’s call for government agencies to provide social benefits to more Filipinos, especially during these challenging times,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund Board of Trustees.

Del Rosario added that the P20.94 billion in home loans during the first quarter of the year enabled 20,712 members to acquire their own homes. Out of the total amount, P2.2 billion were released as socialized home loans for the benefit of 5,074 Pag-IBIG Fund members belonging to the minimum-wage and low-income sectors.

Meanwhile, Pag-IBIG Fund Chief Executive Office Acmad Rizaldy P. Moti noted that even if measured against the period prior to the implementation of community quarantines, there was still an increase in home loans. The agency released P15.49 billion in home loans from January 1 to March 15 this year, an increase of P546.97 million or 3.7% from the P14.94 billion released in the same period in 2020 when strict community quarantines in Metro Manila and other parts of Luzon were yet to be implemented. He further expressed optimism that the numbers will continue to rise, especially as the economy continues to reopen.

“From September to December last year, our home loan released were close to ‘pre-pandemic’ levels. We released more than P6 billion to P7 billion in home loans every month during those months, with December loan releases reaching P12 billion – the highest amount released for a single month in Pag-IBIG Fund’s history. We are glad that our momentum in the last quarter of 2020 carried over to first quarter of 2021, despite the challenges caused by the pandemic. In fact, home loan releases in the first quarter of 2019, which eventually turned out as our best year ever when annual home loan releases amounted to P86.7 billion. We anticipate that our momentum will continue in the succeeding quarters, barring any major catastrophic event, so we help more members become homeowners.” Moti said. (PR)

 

 

 

 

 

Pag-IBIG Fund makes cash loans more affordable with longer payment period

Aileen Cerrudo   •   September 9, 2021

MANILA, Philippines — Pag-IBIG on Thursday (September 9) announced that it will lengthen its payment term to three years from the previous 24 months or two-year period.

Department of Human Settlements and Urban Development (DHSUD) Secretary Eduardo del Rosario said they provided a longer payment period to give borrowers more time to pay off their loans, and more importantly, to make monthly payments lower.

This is amid the difficulties faced by members during the coronavirus disease (COVID-19) pandemic.

“During these difficult times, we continue to improve our programs to respond to the needs of our members,” he said.

Pag-IBIG Fund’s cash loans come in the form of a Multi-Purpose Loan (MPL) and a Calamity Loan (CL) for areas under a state of calamity.

According to Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy Moti, with the extended payment period, members who will take a P20,000.00 loan amount can reduce their monthly payment to P734.57 a month for MPL, and P615.72 a month for a CL.

Previously, the payment for the said MPL and CL amount were P1,016.52 and P897.23 per month, respectively.

With payments spread out over a longer period, monthly payments were brought down by 28% for the MPL and 31% for the Calamity Loan.

“We recognize that these are challenging times, and we are doing all we can to help our members as the health emergency continues,” he said.

“We are poised to help more members in the coming months, now that the extended payment term has made our cash loans even more affordable,” Moti added.

From January to July alone, Moti reported that Pag-IBIG has released P25.42 billion in cash loans to aid more than 1.1 million members.

“We also made the process of applying for loans safer and more convenient by accepting loan applications online via the Virtual Pag-IBIG. This is Lingkod Pag-IBIG at work, especially when members need us most,” Moti further said. AAC

PAG-IBIG branches in NCR remain open under ECQ

Marje Pelayo   •   August 9, 2021

MANILA, Philippines – Offices of the PAG-IBIG Home Development Mutual Fund in the National Capital Region (NCR) will remain open but on a limited capacity even during the implementation of the enhanced community quarantine (ECQ) from August 6 to 20.

Also open is the agency’s NCR Housing Hub in Mandaluyong City.

“In compliance with Memorandum Circular 87 issued by Executive Secretary Medialdea, we shall continue providing service to our members in the safest way possible,” the agency said in its post.

PAG-IBIG branches in NCR will be open from 9:00 AM to 3:00 PM on weekdays to serve members with the following transactions:
Scheduled Releasing of Checks;
Acceptance of Payments; and
Issuance of Pag-IBIG Loyalty Card Plus (for MPL and Calamity Loan applicants only)

For Pag-IBIG Savings claims which include retirement claim for ages 60 to 64; early retirement claim; by beneficiaries due to member’s death; and MP2 Savings pre-termination, applicants may place their applications in drop boxes outside the PAG-IBIG branch premises.

Virtual Pag-IBIG service will always be open for membership registration; business registration; and claim of Pag-IBIG Savings.

To apply for Multi-Purpose Loans or Calamity Loans, applicants may use drop boxes or visit the Virtual Pag-IBIG.

Meanwhile, the NCR Housing Hub in Mandaluyong City is open from 9:00 AM to 3:00 PM on weekdays until August 20.

Payments may be done online via Virtual Pag-IBIG, or through the agency’s accredited collecting partners’ outlets and online payment channels.

For submission of documents, drop boxes are provided for:
Submission of Bid for Acquired Asset
Submission of Housing Loan Application and Notice of Approval or Notice of Disapproval compliance
Submission of Requirements of Winning Buyer of Acquired Asset

Transactions about release of checks, acceptance of post-dated checks, and reservation of acquired assets, the agency will call members concerned for appointments.

Public auctions, property appraisals, and borrower validation will all be done online.

For your safety and convenience, the public may transact with the agency via online through its 24/7 Contact Channels:
Dial 8PagIBIG or (02)87244244
Chat via www.pagibigfund.gov.ph
Email contactus@pagibigfund.gov.ph

For more information, visit the Virtual Pag-IBIG at www.pagibigfundservices.com/virtualpagibig.

Pag-IBIG Fund releases record-high P44B home loans in H1 2021, up 113%

UNTV News   •   July 9, 2021

Despite the pandemic, Pag-IBIG Fund achieved another record by releasing over P44 billion in home loans in the first half of 2021, top officials announced on Friday (July 9).

From January to June, the agency released home loans worth P44.34 billion – the highest amount ever released during the first half of the year – and more than double the P20.80 billion it released during the same period in 2020.

Compared with the P37.07 billion released during the pre-pandemic period of January to June 2019, when strict community quarantines in Metro Manila and parts of Luzon had yet to be implemented, disbursement in the first half of 2021 is higher by nearly 20%.

“This is an indication that the number of Filipino workers who are able to become homeowners via the Pag-IBIG home loan programs continues to grow. In these tough times, we remain steadfast in our commitment to answer President Rodrigo Duterte’s call for government agencies to provide social benefits to more Filipinos,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

Meanwhile, Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said that the P44.34 billion released in the first half of 2021 enabled 43,573 members to acquire their own homes. Out of the total amount, P4.66 billion was released to finance the acquisition of socialized housing. Of the total number of members who benefited from the agency’s home loan programs in the first half of the year, 10,640 or 24% belong to the minimum-wage and low-income sectors.

He added that with its home loan disbursement reaching a record high over the past six months, he expects to exceed by yearend the P86.74 billion home loans released in 2019, which is the highest amount ever released by the agency in a single year.

“With the way things are going, I’m very optimistic that by the end of 2021, we will surpass the total home loan releases of 2019, which is our best year yet. The P44.34 billion disbursed is especially important because we achieved higher figures this year compared to the same period before the pandemic happened.

“On average, we released over P7 billion in home loans every month in the first half of the year. If this trend holds and succeeding monthly releases remain higher than usual, home loan releases by the end of the year will likely breach the P90 billion mark and may even reach P100 billion.

“This translates to another ‘best year ever’ for us and, more importantly, even more members having a home of their own where they can be safe as the health emergency continues,” Moti said. (PR)

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