SSS mandates payment reference number for housing loan payments

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For borrowers to see real-time updates of their housing loan payments and individual loan accounts, the Social Security System (SSS) will require them to present a Payment Reference Number (PRN) for their payments starting this month.

SSS President and Chief Executive Officer Rolando Ledesma Macasaet said that this will enable the real-time processing of loans (RTPL) to ensure a seamless and efficient process for housing loan borrowers.

“The PRN for loans is a system-generated number corresponding to a loan billing statement of the individual loans by the borrower, which contains certain characters to distinguish the housing loan from other SSS loan programs,” Macasaet said in a statement on Friday, June 21.

The PRN is indicated in a monthly bill sent to the borrowers’ registered email addresses and mobile numbers.

Pedro T. Baoy, SSS senior vice president for lending and asset management group, advises borrowers to keep their contact details with SSS updated to ensure "they receive the PRN they need for every housing loan payment transaction, contributing to a smooth and timely payment process.” 

Borrowers can also get their PRN at the SSS Housing and Acquired Assets Management Department, SSS Investments Accounting Department, or SSS Member Loans Department in the SSS Main Office, Quezon City.

They are entitled to one PRN for each outstanding SSS loan, Baoy explained, “for example, if a borrower has an original housing loan and a Housing Repair and Improvement Loan, he/she will get two separate PRNs for each loan.”

The PRN can be obtained every 10th day of the month, meaning that the borrowers’ PRN for June 2024 will be generated on June 10.

Once the PRN expires, the borrower needs to get a new PRN that contains the past due and current amounts, as the expired PRN will no longer be accepted for payment.

“Mortgagors can pay their monthly housing loan amortizations over the counter at SSS branch offices with tellering services or through SSS-accredited collecting partners such as Union Bank of the Philippines, Philippine National Bank, Bayad Center, and SM Mart, Inc. SSS will notify them through their registered email address and mobile number to confirm their payment and its posting on their accounts,” Baoy said.

Borrowers with outstanding loan obligations in the Direct Individual Housing Loan Program and the Direct Housing Loans for Overseas Filipino Workers (OFWs), Workers’ Organization Members, and Trade Union Members (TUM) should also have a PRN whenever they pay their loan payments, the SSS reminded.

As of December 2023, SSS has 3,744 mortgagors with housing loan collectibles amounting to P6.83 billion.