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Manila Bulletin devider Business devider Banking & Finance devider NHMFC aims for transparency with new blockchain partnership

NHMFC aims for transparency with new blockchain partnership

Published Feb 28, 2026 03:35 pm
The National Home Mortgage Finance Corp. (NHMFC) is accelerating its digital transformation by partnering with BayaniChain Tech Inc. (BYC Ventures) to integrate blockchain technology into its secondary mortgage market operations. Through this collaboration, the NHMFC seeks to future-proof its financial records and bolster investor confidence in the housing market. In photo (from left): BYC Chief Growth Officer Gelo Wong; BYC Chief Executive Officer Paul Mark Soliman; NHMFC Information Systems and Technical Support Division Chief Nora Encina; and Fund and Asset Management OIC-Vice President Joshua Emmanuel Cariño.
The National Home Mortgage Finance Corp. (NHMFC) is accelerating its digital transformation by partnering with BayaniChain Tech Inc. (BYC Ventures) to integrate blockchain technology into its secondary mortgage market operations. Through this collaboration, the NHMFC seeks to future-proof its financial records and bolster investor confidence in the housing market. In photo (from left): BYC Chief Growth Officer Gelo Wong; BYC Chief Executive Officer Paul Mark Soliman; NHMFC Information Systems and Technical Support Division Chief Nora Encina; and Fund and Asset Management OIC-Vice President Joshua Emmanuel Cariño.
The National Home Mortgage Finance Corp. (NHMFC) partnered with blockchain developer Bayanichain Tech Inc. to digitize its housing finance securitization process, aiming to bolster transparency and operational efficiency in the state-run agency’s secondary mortgage operations.
The collaboration, formalized through a memorandum of agreement with Bayanichain, also known as BYC Ventures, aligns with the broader digitalization mandate of President Ferdinand Marcos Jr. The initiative aims to deploy a blockchain-enabled digital ledger platform to manage borrower records and monitor the lifecycle of housing receivables. By leveraging decentralized technology, the NHMFC seeks to improve the pooling and structuring of assets for its securitization programs and related financial transactions.
The shift toward blockchain reflects the corporation's strategy to modernize its cloud-based infrastructure while addressing the complexities of the secondary mortgage market. NHMFC Information Technology Chief Nora Encina said the digital roadmap is essential for maintaining institutional credibility within a high-trust financial environment. Encina noted that the integrity of disclosures, bond servicing records, and asset data is critical to meeting regulatory requirements and sustaining the confidence of institutional investors.
As a secondary mortgage institution, the NHMFC functions by purchasing mortgages from primary originators and pooling them into investment instruments. This process requires rigorous data defensibility. Attorney Joshua Emmanuel Cariño, officer-in-charge vice president of the Fund and Asset Management Group, said the agency is prioritizing “future-proofing” to insulate the corporation from market volatility and technological shifts. Cariño added that the innovation drive is central to the agency’s promise of long-term sustainability for Filipino homeowners.
BYC Ventures, a Philippine-based firm led by Chief Executive Officer Paul Mark Soliman, will provide the technical framework for the modernization effort. The partnership comes as Philippine government agencies face increasing pressure to migrate legacy systems to more secure, transparent digital platforms. The NHMFC’s adoption of blockchain could serve as a pilot for how other state-led financial institutions handle asset-backed securities.
While the specific valuation of the assets to be migrated onto the new ledger was not disclosed, the NHMFC continues to manage a portfolio worth several billion pesos. The agency remains a cornerstone of the national housing strategy, providing the liquidity necessary for private banks and developers to continue lending to low- and middle-income borrowers.
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