Last February, NHMFC and the company signed a memorandum of understanding for the securitization of the Paglas housing bond program, according to the agency's website.
Paglas seeks to develop approximately 2,400 houses that will benefit its employees, NHMFC said.
The NHMFC official added that counterpart agencies in other Asean countries would also be enjoined to join the initiative during the Asian Secondary Mortgage Market Association meeting to held on Sept.
6 million housing backlog is in the lower end or socialized housing sector, NHMFC is also planning to issue bonds whose main beneficiaries would be players in socialized housing.
When they went to the NHMFC and presented the redemption certificate, they were told the property had already been sold.
Rodolfo Erbon, NHMFC legal department chief, said a certain Rosa Rivera of Pasig City won the bid for the property.
Rivera's name reportedly crops up constantly in auctions for property foreclosed by the NHMFC.
March 1979, the implementation and administration of the newly created fund were assigned to NHMFC.
With a meager budget made available to the Shelter Savings Group (SSG) of NHMFC, it was decided to study Singapore's CPF as a model.
NHMFC formed a speakers' bureau to counter the strong antiPagIbig Fund movement.
The "PRS Aa" rating pertains to the second series of residential mortgage-backed securities (RMBS) issued by NHMFC, referred to as Bahay Bonds 2 or BB2.
NHMFC is packaging BB2 as a "safe, affordable and high-yielding investment security specially designed for small investors.