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June 19, 2018

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PAG-IBIG FUND HITS HIGHEST EVER PERFORMING LOANS RATIO OF 90%

Posted on June 9, 2018 by Pagibig House For Sale in News & Updates

Pag-IBIG Fund reached a 90.12% performing loans ratio (PLR) in 2017, the agency’s
highest ever in its 37-year history. This feat was sustained in the first quarter of 2018
in which it recorded a 90.4% PLR.

The high PLR shows that nine out of 10 of Pag-IBIG Fund’s housing borrowers
regularly paid their monthly home loan amortizations, reinforcing the agency’s
sustainability.

“PLR is one of the barometers of Pag-IBIG Fund’s sustainability. If our home loan
borrowers regularly pay their monthly amortizations, our liquidity improves and we
can plow the funds back to our housing portfolio so that more members, especially
those with low income, can avail of home loan. This supports President Rodrigo Roa
Duterte’s social protection agenda. It also aligns with the main objective of BALAI
Filipino (Building Adequate, Livable, Affordable, and Inclusive Filipino Communities)
program – to provide decent shelter for every Filipino family,” Housing and Urban
Development Coordinating Council (HUDCC) and Pag-IBIG Fund Chairperson
Eduardo D. del Rosario remarked.

Pag-IBIG Fund Chief Executive Officer (CEO) Acmad Rizaldy P. Moti said, “The high
PLR, and conversely low non-performing loans ratio or NPLR, allows Pag-IBIG Fund
to maintain low housing loan interest rates. We appreciate our member-borrowers for
being conscientious in meeting their Pag-IBIG obligations. Our PLR went up by 15%
in five years, from 75% in 2012 to 90.12% in 2017, thereby significantly improving our
collections through the years.”

Pag-IBIG Fund generated P51.6 billion in housing collections in 2017, including
collections from the sale of Real and Other Properties Acquired (ROPA) – an
increase of 9% from the amount collected in 2016. This amount is also 13% above
the collection target for 2017 and the highest in the history of Pag-IBIG Fund.

“We will intensify our collection strategies in the coming years so that more will
benefit, in turn, from our housing program,” added Deputy CEO for Home Lending
Operations Cluster Marilene C. Acosta.

To increase collections and improve its PLR, Pag-IBIG Fund outsourced its collection
services by accrediting collection agencies starting 2013 and tele-collection
companies beginning 2014.

Other factors that contributed to improved collections in 2017 were: regular sending
of Monthly Billing Statement to home loan borrowers through outsourced service
providers; providing additional payment facilities like Bayad Centers, SM Business
Centers, Metrobank, LANDBANK, and M.Lhuillier; enhancing the text blast which
includes payment reference numbers with the amount and due date; and, sending of
email blast.

Of late, Pag-IBIG Fund has also partnered with EC Pay, Cashpinas, and Globe
GCash for off-branch payments of housing loan and membership savings starting
July 2, 2018.

Readmore . . . http://www.pagibigfund.gov.ph

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