Pag-IBIG Fund launches Virtual Pag-IBIG Mobile App
“Through the years, the Pag-IBIG Fund has stayed true to its goal to realize the dreams of millions of Filipinos by providing secure savings programs and dependable and affordable housing loans,” said Marcos. “Today, we also welcome the launching of the Virtual Pag-IBIG Mobile Application. The app will bring Pag-IBIG Fund’s services and benefits closer to every Filipino. In line with the unwavering commitment of this administration to digitize and streamline our services, be assured that this administration is committed to support you as you implement housing and development programs and initiatives," the president added.Secretary Jose Rizalino Acuzar of the Department of Human Settlements and Urban Development (DHSUD), who also heads the 11-member Pag-IBIG Fund Board of Trustees, meanwhile, assured members that Pag-IBIG Fund will continue to make use of information technology to improve its processes and services.
“I congratulate the Pag-IBIG Fund for launching the Virtual Pag-IBIG Mobile App. This service innovation will significantly help in providing social benefits to our fellow Filipinos, in line with the call of President Marcos to maximize the use of information technology in the delivery of public service,” Acuzar stated.Pag-IBIG Fund Chief Executive Officer Marilene Acosta demonstrated the service features and the user-friendly interface of the agency’s mobile app during the launch.
“With the Virtual Pag-IBIG Mobile App, our members can now get their Pag-IBIG Membership ID number, view the status of their Housing or Short-Term Loans, make online payments and create a Virtual Pag-IBIG account by using just their smartphones. Plus, once our members have their own Virtual Pag-IBIG accounts, they can also view their savings and annual dividends, the balance and due dates of their loans, as well as their payment records. And, we shall add even more features to the mobile app over the coming months. With the Virtual Pag-IBIG Mobile App, we are literally bringing our services to the palm of each members’ hand,” Acosta said.The Virtual Pag-IBIG Mobile Application is available for download via the Apple Store and Google Play. The mobile app has been downloaded by more than 750,000 users since its beta version was made available in August this year. (end)
Pag-IBIG posts record-high P38.06B net income in Jan-Oct 2022; up 39%
“I am happy to report that Pag-IBIG Fund continues its strong performance this year. Our P38.06 billion net income in just the first ten months of the year has already surpassed the P34.73 billion we posted in all of 2021. Our performance shows how excellently we are managing the funds that our members have saved with us. This places us in a strong position to continue providing social services and help more Filipinos gain better lives, in line with the directive of President Ferdinand Marcos, Jr.,” said Secretary Jose Rizalino L. Acuzar of the Department of Human Settlements and Urban Development (DHSUD), who serves as chairperson of the 11-member Pag-IBIG Fund Board of Trustees.
“We thank our members and stakeholders for their unwavering trust and support, which has allowed us to gain another banner year. From our accredited developers in building and delivering quality housing projects and accounts, to the business community for the timely remittance of their employees’ monthly savings and loan payments, to our members who continue to save more with us and choose our loan programs, and to our borrowers for their prompt payment on their loans. The sum of all these parts is a stronger-than-ever Pag-IBIG. We count on their continued support so that we can maintain our remarkable growth and help even more Filipino workers uplift their lives through savings and by gaining homes of their own,” Acosta said (END).
Pag-IBIG posts P20.48 B income in H1 2022: up 27%
“Pag-IBIG Fund continues its strong performance this year. The double-digit increase in our income figures proves that we remain as one of the best performing government corporations in the country today. This places us in a strong position to continue providing social services and help more Filipinos gain better lives, in line with the directive of President Ferdinand Marcos, Jr.,” said Secretary Jose Rizalino L. Acuzar of the Department of Human Settlements and Urban Development (DHSUD), who serves as chairperson of the 11-member Pag-IBIG Fund Board of Trustees.He added that as of June, Pag-IBIG Fund also posted record-highs in both home loan releases and membership savings collections. The agency has so far released P51.96 billion in home loans to finance the acquisition of 47,184 homes for its members during the first half of the year. Savings from its members, on the other hand, reached P38.82 billion, strongly driven by the agency’s popular MP2 Savings where members have collectively saved P19.40 billion. Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti, meanwhile, emphasized that the agency’s gains shall redound to the benefit of its members. He noted that under its charter, Pag-IBIG Fund is mandated to return at least 70% of its annual net income to its members in the form of dividends which are credited to their savings.
“Pag-IBIG Fund is wholly-owned by the Filipino workers. That is why it is our responsibility, as the administrators of the Fund, to manage their contributions responsibly and excellently. With our second half prospects in terms of loan releases and collections high, we are optimistic that we will achieve at least P30 billion in annual net income level for the sixth consecutive year. This is our commitment to our members,” Moti said. (END)
Pag-IBIG Fund home loan payments reach P57.6 billion, up 30%; PLR climbs to 89.96%
“We are happy to report that the amount of home loan payments we have collected so far this year is the highest in our history. This is good news as it reflects the continued recovery of our borrowers from the financial difficulties caused by the pandemic. Our strong collections is key in maintaining our financial sustainability, as the amount we collect are ploughed back to our housing portfolio so that more members can avail of affordable home loans from Pag-IBIG Fund. This is one of our ways of heeding President Ferdinand Marcos, Jr.’s call in solving the country’s housing backlog within the next six years,” said Secretary Jose Rizalino L. Acuzar, who heads both the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund Board of Trustees.Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta added that because of its record-high collections, the agency has exceeded its yearend target on its performing loans ratio (PLR) earlier than projected. As of October, Pag-IBIG Fund’s PLR stood at 89.96% surpassing its yearend target of 88%, while gaining 1,028 basis points from September 2021 figures when the agency’s PLR dipped to 79.68% following the effects of the pandemic.
“We thank our members for their efforts in fulfilling their payment obligations on their Pag-IBIG Housing Loans. It shows their growing appreciation that their on-time payments allow us to continue financing the loans of other members who wish to secure housing loans of their own. And, as we all continue to recover from the pandemic, we shall keep working hard to maintain our collections strong and our PLR high. These would allow us to not only address the loan needs of our members, but to also keep our interest rates low despite the upward market trend. These are all part of our Lingkod Pag-IBIG commitment to provide accessible and affordable home loans for each Filipino worker,” Acosta added. (END)
Pag-IBIG Members save record-high P66.66B in Jan-Oct, up 27%; MP2 Savings surpass P33B, up 57%
Pag-IBIG Fund has again set another record-high, this time in its members savings collections. It speaks well of the trust that our members and stakeholders have in our capability to manage their savings excellently and prudently. With more funds, Pag-IBIG remains in a strong position to finance its programs, particularly its home loans, while keeping interest rates on its loans low. All these are part of our efforts in support of President Ferdinand Marcos Jr.’s call for providing a better life for all Filipinos,said Secretary Jose Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.Continuing to drive the growth of its members’ savings is the agency’s voluntary savings program, the Modified Pag-IBIG 2 or MP2 Savings. In the last 10 months, MP2 Savings amounted to a record-breaking P 33.72 billion or 51% of the total savings collected by the agency during the period. Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, meanwhile, noted that the MP2 Savings continues to display remarkable growth, as it posted a 57% increase from the P21.43 billion collected during the same period last year.
“The dramatic growth of our MP2 Savings started in 2016, when collections first breached the P1-billion level. We are happy to note that this year is even more remarkable as the P33.72 billion collectively saved by our members during the first 10 months of the year has already well surpassed the entire year’s record-high collection of P25.95 billion in 2021. We thank our members for their continued trust in Pag-IBIG Fund. And, with only a few weeks remaining before the year ends, we assure our members that we are doing all that we can to provide them the best return rates on every hard-earned peso they have saved with us. That is our way of providing them Tapat na Serbisyo, Mula sa Puso,” Acosta added.
Pag-IBIG Calamity Loan ready for members affected by Typhoon Paeng
“We are ready to help our members affected by Typhoon Paeng with our Calamity Loan program. We have initially identified a total of 344,000 affected members in Regions IV-A (CALABARZON), V (Bicol Region), VI (Western Visayas), the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) and other areas where a state of a calamity has been declared by the local government unit, who are eligible to borrow under the program. That is why we have set aside P5 billion in calamity loan funds to help them recover from the damages caused by the typhoon. This is in line with the directive of President Ferdinand Marcos, Jr. to provide Filipinos in affected areas with immediate relief and all the necessary assistance,” said Secretary Jose Rizalino L. Acuzar of the Department of Human Settlements and Urban Development and Chairperson of the 11-member Pag-IBIG Fund Board of Trustees.
“When calamities strike, we at Pag-IBIG understand that our members in affected areas need immediate financial assistance. For this reason, we make sure that all our services and benefits remain accessible to our members. Even while our offices and personnel in calamity-hit areas have also been affected by the typhoon, our branches remain open and are ready to receive loan applications and housing loan insurance claims. We have also deployed our Lingkod Pag-IBIG on Wheels to initially go around typhoon-stricken areas in Cavite, Aklan, Capiz, Cotabato and Maguindanao to further bring our services closer to our members who are most in need. And, for members who have internet access, the Virtual Pag-IBIG is ready to accept their calamity loan applications online. During these trying times, our members can count on Lingkod Pag-IBIG,” said Acosta. (END)
Pag-IBIG Fund finances homes of more than 13,000 low-wage earners in Jan-Sep 2022
“We are happy to report that we continue to provide our members from the minimum-wage and low-income sectors affordable means to have their own homes. We remain steadfast in our commitment to the Pambansang Pabahay Para sa Pilipino Program led by President Ferdinand R. Marcos, Jr. in addressing the country’s housing backlog by ensuring that owning a home remains inclusive and accessible to all, particularly the underserved,” said Secretary Jose Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund Board of Trustees.
“For more than half a decade now, the Pag-IBIG Affordable Housing Program has made it possible for low-income and minimum-wage earners to own a home. With the lowest rate offered in the market, our members can enjoy a low monthly payment of as low as P2,445.30 for a socialized home loan of P580,000 with a loan term of 30 years,” said Acosta. “And what’s more, borrowers under our AHP do not have to put out cash for equity because of its 100% loan-to-value ratio. These are all part of our Lingkod Pag-IBIG commitment to provide accessible and affordable home loans for our low-income members,”Acosta added. (END)
Pag-IBIG home loan releases grow 27% to record-high P83.31B in Q3 2022
"Pag-IBIG Fund’s performance in the first nine months of 2022 now stands as the best in our history. Higher loan releases and an increasing number of borrowers mean that more and more Filipino workers are being helped by Pag-IBIG Fund to have their own homes. All these are part of our efforts to achieve the goal of President Ferdinand R. Marcos, Jr. under the Pambansang Pabahay Para sa Pilipino program, as we continue our pursuit of providing each Filipino family an opportunity to own a home,” said Secretary Jose Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund Board of Trustees.
“With our home loan releases amounting to P83.31 billion in the last nine months, we have nearly surpassed the amount released for the entire year in 2019, which was one of our best performing years. By the end of 2022, home loan releases may reach P110 billion, surpassing yet again the P100 billion housing loan takeout level for a single year. We shall do our best to achieve this, as this figure will translate to over 100,000 Filipino workers who shall fulfill their dreams of homeownership. This is one of our many ways of delivering Lingkod Pag-IBIG: Tapat na Serbisyo, Mula sa Puso to our members,” said Acosta.Acosta added that the strong demand for the agency’s home loans can be attributed to its interest rates which remain low despite the current market trend, high loan-to-appraised value ratio, long repayment period and much-improved insurance terms. (end)
Acosta appointed as Pag-IBIG Fund CEO
“I am grateful for the trust that the President Ferdinand Marcos, Jr. and our Chairperson, DHSUD Secretary Jose Rizalino Acuzar have given me on being appointed to this post. I also thank outgoing CEO Moti and my fellow Lingkod Pag-IBIG for their support, as well as the Organization of Socialized and Economic Housing Developers in the Philippines (OSHDP), Inc. and the Subdivision and Housing Developers Association (SHDA), Inc. for their endorsements. I assure all of them, as well as our members, partner-developers, partner-employers and stakeholders, that we at Pag-IBIG Fund shall remain committed in providing them responsive and excellent service. My more than 40 years of public service in Pag-IBIG Fund has prepared me well for this post, and I will put to best use all that I have learned during the past four decades in ensuring that we continue the fulfillment of our mandates and in providing Tapat na Serbisyo, Mula sa Puso,” >Acosta said.
“CEO Acosta’s leadership, excellence, integrity, and grit are among the key factors that have enabled Pag-IBIG Fund to accomplish numerous record-highs and milestones, particularly in the home financing front. Her appointment shall allow the continuity and sustainability of Pag-IBIG Fund’s efforts to uplift the lives of all Filipino workers. I truly wish her and Pag-IBIG all the best,”Moti said.Moti leaves Pag-IBIG Fund in its strongest-ever state, posting significant increases in key metrics from 2016 - the year prior to assuming his post as CEO. As of August 2022, the agency has P795.93 billion in total assets, an 81% increase from P439.30 billion as of yearend 2016; a P100.8 billion single-year home loan release in 2021, a 76% increase from the annual home loan takeout of P57.3 billion six years ago; P25.95 billion voluntarily saved by members in MP2 Savings in 2021, a 3,065% increase from the P0.82 billion saved in 2016; investible funds amounting to P92.56 billion, a 49% increase from P62.15 billion in 2016; and, an annual net income of more than P30 billion for five consecutive years since 2017. (END)
Pag-IBIG urges employers with unremitted contributions to avail of penalty condonation
“We at Pag-IBIG Fund recognize the significant role that the business community plays in allowing Filipino workers to gain Pag-IBIG membership, and in helping our nation continue to recover from the pandemic. That is why we are providing the means for employers to settle the unremitted Pag-IBIG contributions of their employees free from penalty charges. With this program, we expect more Filipino workers to enjoy the benefits of being a Pag-IBIG member in line with the call of President Ferdinand R. Marcos, Jr. to provide a better life for all Filipinos,” >Secretary Jose Rizalino L. Acuzar of the Department of Human Settlements and Urban Development and Chairperson of the 11-member Pag-IBIG Fund Board of Trustees.
Under the agency's charter, employers are responsible for the registration and remittance of its employees' mandatory monthly Pag-IBIG contributions, which consist of the employee’s contributions and the employer's counterpart share. With its penalty condonation program, eligible employers can now settle their employees' unremitted Pag-IBIG contributions without penalty charges. Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti, meanwhile, stated that the program is purposely broad in scope to aid in boosting economic activity. The program covers not only all unremitted Pag-IBIG contributions by employers during the pandemic, but also all unremitted contributions even prior to the pandemic. He further said that aside from having the penalty charges on their delayed remittances 100% condoned, employers who would be unable to settle their obligations in full may also opt for a payment plan that has a low monthly interest charge of 0.5%. Moti further emphasized that if the unremitted contributions being settled are those during the pandemic, or those from March 2020 onwards, the interest charge on payment plans shall be waived.
“The Pag-IBIG Penalty Condonation Program we are offering is more extensive in coverage compared to the previous programs we implemented. As we seek to provide utmost assistance to the business community, the program covers not only the unremitted contributions during the Covid-19 pandemic, but also those prior to the health crisis. With the program's favorable terms, employers are provided the means to update the monthly contributions of their employees, while maintaining a healthy cash flow to sustain their operations. This is our way of helping the business community – whose support has been instrumental in allowing Pag-IBIG Fund to post record-highs in our membership savings collections over the past many years – continue with their recovery from the effects of the pandemic,”Moti said.
Pag-IBIG launches official mobile app
“Pag-IBIG Fund continues to bring its services closer to its members, this time through the use of information technology. The Virtual Pag-IBIG Mobile App is among our many ways of adhering to the call of President Ferdinand R. Marcos, Jr. to make Pag-IBIG’s services and benefits even more accessible to our members,” >said Secretary Jose Rizalino L. Acuzar of the Department of Human Settlements and Urban Development (DHSUD), who serves as chairperson of the 11-member Pag-IBIG Fund Board of Trustees.
“We developed the Virtual Pag-IBIG Mobile App following the success of our online service facility, the Virtual Pag-IBIG, which has now served over 3.6 million members since its launch in 2019. And, just like our online service facility, we shall continuously develop our mobile app to have our full range of services so that it can provide all our members another safe, convenient and secure means of accessing their Pag-IBIG benefits, 24/7. With the Virtual Pag-IBIG Mobile App, we are truly bringing Pag-IBIG Fund’s services to the palm of our members’ hands,”Moti said.The Virtual Pag-IBIG Mobile App is now available via Google Play at , and shall soon be available on the Apple App Store. (END)
Pag-IBIG members save record-high P38.82B in H1 2022, up 23%; MP2 surges to P19.40B up 47%
“I am happy to note Pag-IBIG Fund's excellent performance in its members' savings collections. Our strong collections mean that we have funds to finance our programs and continue providing affordable home and cash loans for our members. This is our contribution to the call of President Ferdinand R. Marcos, Jr. to resolve the country’s housing backlog and provide a better life for Filipinos,” said Secretary Jose Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.
“The continued growth of our members’ savings is truly remarkable. We are grateful to the business community for responsibly remitting the Pag-IBIG contributions of their employees on time, and to our members for their continued trust in saving with Pag-IBIG, particularly in the MP2 Savings. Should the upward trend in our collections hold, we expect another record-high in terms of total members’ savings by the end of the year. More importantly, with our robust fiscal position, we are confident that we can continue to finance the increasing demand for our loans while keeping interest rates low. This is one of our ways of bringing Tapat na Serbisyo, Mula sa Puso to our members,”Moti said.
Pag-IBIG Calamity Loan ready for members affected by North Luzon Quake
“Pag-IBIG Fund has allocated calamity loan funds to help affected members in Ilocos Region, Cagayan Valley and the Cordillera Administrative Region (CAR) recover from the devastation caused by last week's earthquake. We are also working closely with our fellow government agencies, as directed by President Ferdinand Marcos, Jr., so that we can maximize our collective assets towards providing for the needs of our fellow Filipinos affected in these areas,” said newly appointed Secretary Jose Rizalino L. Acuzar of the Department of Human Settlements and Urban Development and Chairperson of 11-member Pag-IBIG Fund Board of Trustees.
“In the wake of calamities, we are aware that our members need to have immediate access to our benefits and services. Immediately after the earthquake was felt, we deployed our mobile branch – the Lingkod Pag-IBIG-On-Wheels – to go around Ilocos Region, Cagayan Valley and the CAR and provide services where it’s needed most. In coordination with local government units, we have also set up on-the-ground service desks near evacuation areas and government centers in these regions so that members can easily access us. Our Virtual Pag-IBIG also remains ready to accept calamity loan applications online from members who have access to internet service. And, even while our own offices and personnel in earthquake-hit areas have also been affected, our branches are open and ready to receive calamity loan applications and housing loan insurance claims. Our members can be assured that during difficult times, Pag-IBIG will always be there to help them,” Moti said. (END)
Pag-IBIG Fund finances 8,471 homes for low-wage earners in H1 2022
“We at Pag-IBIG Fund remain committed in pursuing our mandate to provide a home for every Filipino worker. With our Affordable Housing Program, achieving the dream of homeownership is made possible especially for minimum-wage workers. The program’s lowest rates and longest payment term allow our members from the low-income sector to buy or build a home of their own,” said Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti.Pag-IBIG Fund's Affordable Housing Program (AHP) is a special home financing program specifically designed for minimum-wage and low-income members from the National Capital Region (NCR) who earn up to P15,000 a month, and from outside the NCR who earn up to P12,000 per month. Under the AHP, eligible borrowers enjoy a special subsidized rate of only 3% per annum for home loans of up to P580,000 for socialized subdivision projects. Pag-IBIG Fund Deputy Chief Executive Officer for Home Lending Operations Marilene C. Acosta, meanwhile, said that the AHP’s 3% rate translates to a monthly amortization of as low as P2,445.30 for a socialized home loan amounting to P580,000, making homeownership within reach of low-income earners.
“We first offered the AHP’s subsidized 3% rate in May 2017 to help more members, particularly those from the minimum-wage sector, realize their dreams of owning a home. With our very low rates, our members are able to enjoy a monthly amortization on their home loans that is lower than the cost of rent. And, since qualified borrowers do not need to put out cash for equity under the program, payments are even more within budget of low-income members. Makakaasa ang aming mga miyembro na patuloy nila kaming katuwang sa pag-abot ng kanilang pangarap na magkaroon ng sariling tahanan,” Acosta added. (END)
Pag-IBIG Fund releases record-high P40.41B home loans in Jan-May 2022, up 15%
“Pag-IBIG has once again set a new record in the amount of home loan releases to begin the first five months of the year. We are happy that the number of Filipino workers who are able to become homeowners through the Pag-IBIG home loan programs continue to grow. Our consistent performance also indicates that the home loan policies we have set in place have been effective, and we expect that these would continue to enable even more Filipino workers to have decent and affordable homes in safe, sustainable and resilient communities,” 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 amount released as of May financed the acquisition and construction of 36,865 homes for Pag-IBIG Fund members, 5% higher than the 34,979 homes financed during the same period last year. He added that out of the total number of homes financed, 6,787 or 18% were socialized housing units which are now owned by minimum-wage and low-income workers and their families.
“Last year, we surpassed the P100-billion peso level in home loan releases, a feat we previously thought was impossible. This year, with our record-high home loan releases from January to May, we are optimistic that Pag-IBIG Fund is well on its way to yet another banner year. Should the current trend hold, we expect to release at least P105 billion pesos in home loans by year's end. I am confident that our outstanding performance on the home loan front will be sustained, especially under the leadership of our Deputy CEO for Home Lending Marilene C. Acosta, who has been instrumental in our record-breaking performance in home loan releases since 2017”, Moti said (END).
Pag-IBIG Fund finances 5,411 homes for low-wage earners in Jan-Apr 2022
"Socialized housing is designed especially for minimum and low-wage workers. With Pag-IBIG Fund’s Affordable Housing Program, we make sure that all our members, particularly those from the low-income sector, are given the opportunity to own a home. This is the essence of the BALAI (Building Adequate, Livable, Affordable and Inclusive) Filipino Communities Program of the government’s housing sector towards providing decent shelter for every Filipino family,” said Secretary Eduardo D. del Rosario, Chairperson of the 11-member Pag-IBIG Fund Board of Trustees and Secretary of the Department of Human Settlements and Urban Development (DHSUD).The Pag-IBIG Fund’s Affordable Housing Program (AHP) is for members from the low-income and minimum-wage sectors who earn up to P15,000 a month in the National Capital Region (NCR), and up to P12,000 per month outside the NCR. Under the AHP, borrowers enjoy a subsidized rate of 3% per annum for home loans of up to P580,000 for socialized subdivision projects, and up to P750,000 socialized condominium projects. Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said that the AHP’s 3% rate remains as the lowest in the market – a rate that the agency has provided for low-income members since May 2017, and is able to offer due to its tax-exempt status as prescribed under Republic Act No. 9679 or the Home Development Mutual Fund (Pag-IBIG Fund) Law of 2009.
“Because of our Charter, Pag-IBIG Fund is able to provide the lowest rates for the home loans of minimum and low-wage workers. We first offered our subsidized 3% rate in May 2017 to help more members realize their dreams of owning a home. And, until now, that special rate still stands. Aside from keeping our interest rates low, we also keep the insurance premiums at a minimum, so that our borrowers would only need to pay a low monthly amortization of P2,445.30 for a socialized home loan of up to P580,000. And what’s more, qualified borrowers will never have to put out cash for equity under our Affordable Housing Program. All of these are part of our efforts to provide the best home financing program for our members who earn minimum wage,” Moti said
Pag-IBIG home loan releases reach record-high P24.2B in Q1 2022, up 16%
Pag-IBIG Fund On The Go
Pag-IBIG declares record-high P31.79B as 2021 dividends; Regular Savings at 5.5%, MP2 at 6%
Pag-IBIG posts record-high P34.73B net income in 2021; Members to earn dividend rate of 5.16% on Regular Savings, 5.66% on MP2
Pag-IBIG Fund netted an income of over P30 billion for the fifth consecutive year in 2021 despite the ongoing pandemic, the agency’s top executive announced on Thursday (Feb.24) during the Pag-IBIG Fund Chairman’s Report. “As we close our books for 2021, I am happy to report that your Pag-IBIG Fund achieved another milestone. Our strong performance last year led us to reach a net income of P34.73 billion! This is our highest net income ever, surpassing by 9.5% our P31.71 billion net income in 2020 and topping the previous record of P34.37 billion netted in 2019. I’d also like to note that this is the fifth time that our net income breached the P30-billion mark. Our members will directly benefit because we shall again go beyond what is required of us by declaring over 86% of our net income as dividends for their savings,” 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.
Pag-IBIG members save record-high P26 B in MP2, up 95% in 2021
Amid the ongoing health crisis, Pag-IBIG Fund members still showed preference for the MP2 savings program in 2021 as total savings reached nearly P26 billion, setting yet another record for the amount saved voluntarily by members in a year, agency officials said.In only 12 months, members’ savings under the Modified Pag-IBIG 2 (MP2) Savings Program reached P25.95 billion in 2021, achieving a staggering growth of 95% from the P13.23 billion collected in 2020.
Members save record-high P63.7 B in Pag-IBIG Fund in 2021, up 32%; MP2 jumps 95% to P26 B
Pag-IBIG Fund finances 22,028 socialized homes in 2021, up 30%
“As the pandemic subsists, Pag-IBIG Fund’s Affordable Housing Program continues to help more low-income workers secure homes of their own. For 2021, we have released more funds so that more of our low-wage members have a safe place of their own. Providing service to the underserved is our contribution to the recovery of our country,” said Secretary Eduardo D. del Rosario, Chairman of the Department of Human Settlements and Urban Development (DHSUD) and the 10-member Pag-IBIG Fund Board of Trustees.Pag-IBIG Fund’s Affordable Housing Program (AHP) is a special home financing program that caters to the needs of minimum-wage and low-income members who earn up to P15,000 a month in the National Capital Region (NCR) and members who earn up to P12,000 per month outside the NCR. Under the AHP, home loans worth up to P580,000 come with a subsidized rate of 3% per annum, which is still the most affordable rate in the market today. Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti added that socialized units make up 23% of the 94,533 total homes funded by the agency in 2021. Meanwhile, socialized home loans comprise 10% of the P97.28 billion in home loans released last year.
“For years, we have been striving to break the glass ceiling of releasing home loans worth P100 billion in a year. In 2021, I’m glad to say that we have achieved this seemingly impossible goal! And we did that by steadily growing our home releases year in and year out. Best of all, we achieved our goal by also growing the number of socialized homes and the number of members helped by the AHP. As I always say, our approach to housing has always been comprehensive. Even amid the pandemic, the AHP still offers the lowest rate in the market, which in turn keeps monthly amortization lower than the cost of rent. And, since qualified borrowers do not need to put out cash for equity under the program, payments are always within budget of low-income members. Walang iwanan lalo na sa panahon ng pandemya. That is the mark of our Lingkod Pag-IBIG brand of service,” said Moti. [END]
Pag-IBIG home loan releases surpass P100 B in 2021 for record-high; up 58%