Author Topic: Pag-IBIG Fund  (Read 3100 times)

adroth

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Pag-IBIG Fund
« on: September 18, 2020, 02:08:51 PM »
https://www.pagibigfund.gov.ph/document/pdf/citizencharter/Approved%20Citizen's%20Charter%20(Housing%20Loan%20Availment)%20-%20July%202017.pdf

CREATION OF Pag-IBIG Fund

The birth of Home Development Mutual Fund (HDMF), more popularly known as the Pag-IBIG Fund, was an answer to the need for a national savings program and an affordable shelter financing for the Filipino worker. The Fund was established on 11 June 1978 by virtue of Presidential Decree No. 1530 primarily to address these two basic yet equally important needs. Under the said law, the Social Security System (SSS) shall administer the funds of private employees, while the Government Service Insurance System (GSIS) shall administer the funds of government employees.

Less than a year after, on 1 March 1979, Executive Order No. 527 was signed. The order directed transferring the administration of the Fund to the National Home Mortgage Finance Corporation (NHMFC), which was one of the operating agencies of the then Ministry of Human Settlements.

Seeing the need to further strengthen the stability and viability of the two funds, Executive Order No. 538 was issued on 4 June 1979, merging the funds for private and government personnel into what is now known as the Pag-IBIG Fund. However, it was only on 14 December 1980 when Pag-IBIG was made independent from the NHMFC with the signing of PD 1752, which is recognized as the Pag-IBIG Fund Charter. With the improved law in effect, the Fund’s rule-making power was vested in its own Board of Trustees. Likewise, PD 1752 made Pag-IBIG membership mandatory for all SSS and GSIS member-employees.

Months after former President Corazon C. Aquino assumed leadership of the country, Pag-IBIG contributions were suspended from May to July 1986. On 1 August 1986, former President Aquino directed the resumption of Pag-IBIG membership under Executive Order No. 35. Membership was still on a mandatory basis but under more liberal terms. The employee and employer contribution rates were reduced, and the Maximum Fund Salary was raised from P3,000 to P5,000.

1 January 1987 marked the return of the Pag-IBIG Fund to a voluntary program under Executive Order No. 90. It was during the years as a voluntary fund that Pag-IBIG introduced innovative benefit programs that heeded the calls for expansion of membership, and addressed the immediate financial as well as housing needs of its members.

After eight years as a voluntary fund, Pag-IBIG membership reverted to mandatory on 17 June 1994 when President Fidel V. Ramos signed Republic Act 7742. The new law became effective on 1 January 1995.

More than a decade after RA 7742 was implemented, the Pag-IBIG Fund continues to be a strong partner in realizing Filipino workers’ dreams. Recognizing Pag-IBIG Fund’s contributions and the need to further strengthen its capability as the biggest source of housing finance in the country to date, President Gloria Macapagal-Arroyo signed into law Republic Act No. 9679 or the Home Development Mutual Fund Law of 2009 on 21 July 2009, and making Pag-IBIG membership mandatory for all, including Filipinos employed by foreign-based employers. Now more than ever, Filipino workers will enjoy the benefits that are available only to Pag-IBIG members.

Pag-IBIG is an acronym which stands for Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industriya at Gobyerno. To this day, the Pag-IBIG Fund continues to harness these four sectors of the society to work together towards providing Fund members with adequate housing through an effective savings scheme.

adroth

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Re: Pag-IBIG Fund
« Reply #1 on: September 18, 2020, 02:09:48 PM »
There are two (2) modes of applying for a Pag-IBIG housing loan:

a) Developer-Assisted - the developer assists the member in his/her housing loan application.
b) Retail - the member applies directly to the Fund.

girder

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Re: Pag-IBIG Fund
« Reply #2 on: September 19, 2020, 09:25:31 PM »
Funny, you should make a thread on the Home Development Mutual Fund.

Speaking as a former employee. ;)

I actually have a helpful presentation that I made for one of my graduate classes.

http://www.mediafire.com/file/9j90a1cya2naszv/file

I took out some of the out of date information since the file is a couple years old now, but most of the pertinent information is there.

Feel free to copy+paste the relevant slides for the thread.
« Last Edit: September 20, 2020, 03:04:52 PM by girder »

adroth

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Re: Pag-IBIG Fund
« Reply #3 on: September 23, 2020, 01:12:55 AM »
https://www.pagibigfund.gov.ph/document/pdf/citizencharter/Approved%20Citizen's%20Charter%20(Housing%20Loan%20Availment)%20-%20July%202017.pdf

Quote
HANDLING MEMBER’S SUGGESTIONS/COMPLAINTS

To our Valued Members/Customers:

Your opinion is of great importance to us. You may send us your suggestions, complaints or any concern through any of the following:

Servicing Counters

You may visit our servicing counters stationed at Pag-IBIG branches for any concerns of the Pag-IBIG Fund programs.

Forms

Please accomplish the Member Care Feedback Form (MCFF, HQP-PRF-002). This form is available at various counters of any Pag-IBIG Branch.

Letters

Letters may be sent to:

The Member Relations Department
 16/F, JELP Business Solutions Bldg.
409 Shaw Boulevard, Mandaluyong City

You may also send your letters directly to the concerned Pag-IBIG Branch, addressed to the Office of the Head. (For the complete list of Pag-IBIG branches and address, please refer to the Pag-IBIG Office Directory)

Emails

Emails may be sent to contactus@pagibigfund.gov.ph. You shall receive a confirmation message that your email has been forwarded to the concerned
branch/department for appropriate reply and/or action.

Pag-IBIG Hotline

For your immediate concerns, you may also reach us at 724-4244 (Pag-IBIG), 24/7 (24 hours in a day, 7 days in a week).
« Last Edit: September 23, 2020, 02:18:28 AM by adroth »

adroth

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Re: Pag-IBIG Fund
« Reply #4 on: September 23, 2020, 01:19:17 AM »
Funny, you should make a thread on the Home Development Mutual Fund.

Speaking as a former employee. ;)

I actually have a helpful presentation that I made for one of my graduate classes.

http://www.mediafire.com/file/9j90a1cya2naszv/file

I took out some of the out of date information since the file is a couple years old now, but most of the pertinent information is there.

Feel free to copy+paste the relevant slides for the thread.

Thanks Girder.

Principal reason I've dug into the Pag-IBIG fund is that there are a fair number of homeowners, who are Pag-IBIG members, who affected by the Mindanao Railway. They reach out to the Mindanao Railway Project Office (MRPO) as advised, but the MRPO doesn't have all the answers because a lot of them are in Pag-IBIG's camp and the organization seems to have been caught flat footed by the pace of the Administration's progress.

Here are examples of affected properties.

http://defenseph.net/drp/index.php?topic=7091.0

I've passed up the following questions up a number of chains waiting on answers. Would you have your own lines of communication?

Quote
Could the amortization for these affected properties paused in light of the impending acquisition? This would give the homeowner the funds necessary to process the documentary requirements enumerated by the Notice of Taking.

Can the affected Pag-IBIG homeowners be allowed to apply for another Pag-IBIG loan to allow them to acquire another property to replace the Pag-IBIG funded property that is being taken from them?

For the additional Pag-IBIG loan mentioned above -- which is really only required because Mindanao Railway project is taking the property -- can the age-related Pag-IBIG requirements be waived?

Should the compensation from the DOTr be given directly to Pag-IBIG, or will it be sent to the homeowner first, and the homeowner is required to remit the proceeds to Pag-IBIG?

Is there a program specifically for affected Pag-IBIG homeowners to provide an option to relocate to a similar property subject to restructuring of the original housing loan?

If only a portion of the property is taken up by the right-of-way, will Pag-IBIGI consider this a total loss of the home and how will this affect the mortgage?

girder

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Re: Pag-IBIG Fund
« Reply #5 on: September 23, 2020, 08:13:04 PM »
Sadly such matters would have been out of my department, even if I was still with the Fund. Though I might still have some contacts.

My experience was mostly with the corporate secretary and the board of trustees. Though in my experience matters such as these would have probably already garnered the attention of senior management and options probably already being deliberated upon to be presented to the Board for them to decide upon.

I'd have to get back to you if I can pull some strings and find out if I can get any publicly-sharable information.
« Last Edit: September 24, 2020, 07:53:13 PM by girder »

adroth

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Re: Pag-IBIG Fund
« Reply #6 on: September 24, 2020, 02:41:27 AM »
I sent that message to both the Pag-IBIG official email address as well as the Mindanao Railway Project Office (MRPO). The MRPO responded first.





From the looks of it, a lot of the balls are in Pag-IBIG's court. After I forwarded them the MRPO's email, I finally got the following result


adroth

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Re: Pag-IBIG Fund
« Reply #7 on: September 24, 2020, 03:38:16 PM »
Salient points of RA 11201
Philippine Daily Inquirer / 05:14 AM February 23, 2019

President Duterte signed on Feb. 14 Republic Act No. 11201, which creates the Department of Human Settlements  and Urban Development (DHSUD) by merging the Housing and Urban Development Coordinating Council (HUDCC) and the Housing and Land Use Regulatory Board (HLURB). It repealed Executive Orders No. 90 s. 1986 and No. 648 s. 1981.
< Edited >

Section 4 further states: “It shall be the sole and main planning and policy-making, regulatory, program coordination and performance monitoring entity for all housing, human settlement and urban development concerns, primarily focusing on the access to and affordability of basic needs.”
DHSUD shall have powers and functions on four key areas:  policy development, coordination, monitoring and evaluation; environmental land use and urban planning and development; housing and real estate regulation; and homeowners association and community development.


The Department shall have four attached corporations namely the National Housing Authority (NHA), National Home Mortgage Finance Corp. (NHMFC), Home Development Mutual Fund (HDMF) and Social Housing Finance Corp. (SHFC).

< Edited >

Read more: https://business.inquirer.net/265564/salient-points-of-ra-11201#ixzz6YwWDPBZI
Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook

adroth

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Re: Pag-IBIG Fund
« Reply #8 on: October 12, 2020, 10:50:54 PM »
Received the following follow up response to the first query shown above.

No response after 15 days. Sent a follow up using the reference number above as basis . . .got another reference number with the first templated response. No sense re-posting that one as it is the same as the first.