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Manila Bulletin devider Business devider NHMFC boosts engagement with housing originators

NHMFC boosts engagement with housing originators

Published Apr 13, 2022 10:03 am

Bulk purchase of housing loan receivables in the offing

Housing developers and originators participated in the consultation meeting spearheaded by NHMFC Securitization Group Vice President, Maria Luisa Favila, to gather insights on the proposed HLRPP Bulk Purchase Scheme.

The National Home Mortgage Finance Corporation (NHMFC) recently held a Focus Group Discussion (FGD) to boost engagement with various housing loan originators and encourage their involvement in crafting the guidelines for the Corporation’s proposed Bulk Purchase of Housing Loan Receivables.

Real estate developers from various regions in the country participated in the consultation meeting, which aims to solicit insights and feedbacks on the proposed Housing Loan Receivables Purchase Program (HLRPP) Bulk Purchase scheme.

“NHMFC would like to hear the originators’ views on this program through a consultative approach, and offer NHMFC’s stakeholders a role in policy and program development, and likewise intensify commitment to the implementation of the program,” said Securitization Group Vice President, Maria Luisa Favila.

Housing loan receivables under HLRPP namely, Purchase of Originated Economic/Low-Cost Housing Receivables (HLRPP 1 – HOME), Socialized Housing Loan Take-out of Receivables Purchase Program (HLRPP 2 – SheLTeR), and Building Eligible Resilient Dwelling for Everyone (HLRPP 4-BERDE) are intended to qualify under this bulk take-out program.

“The receivables purchased from the bulk purchase would provide an asset pool for securitization and NHMFC has an ongoing Asset-Backed Securities (ABS) issuance that is compliant with the Balanced Housing requirement through the purchase of this ABS by the developers,” VP Favila remarked. “This will be beneficial to both the originators and the NHMFC as developers will be liquidated while the NHMFC will be able to fulfill its mandate of reducing the housing backlog through secondary mortgage operations,” she stressed.

Housing loan borrowers in Roxas, Isabela line up for an interview with NHMFC’s marketing staff to discuss their preferred loan terms.

Meanwhile, in Roxas, Isabela, NHMFC in collaboration with Uanjelle Land Incorporated (Uanjelle) also held an Originator and Borrowers’ Orientation on the documentary requirements, including legal documents, and processing of housing loan borrower’s application under the HOME and SHeLTeR Programs. More than 600 borrowers from this province attended the orientation and more than 200 housing loan applications were received by NHMFC during the event.

Uanjelle is an active partner-originator of NHMFC. It is one of Isabela Province’s leading real estate developers with around 4,000 housing units constructed in Casa Ysabella Phases I-IV.  It is also the very first in the entire region to utilize an underground electrical facility for its subdivisions.

As more localities relax their Covid-19 restrictions, NHMFC has lined up a series of originator and borrower’s orientation on HLRPP, while the recently held FGD is just the first in a series of consultative meetings on the proposed HLRPP Bulk Purchase, and more will be held within the year to gather additional insights from NHMFC’s partner-originators.

Related Tags

National Home Mortgage Finance Corporation NHMFC housing loan
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