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The performance loans ratio of Pag-IBIG Fund increased to 92.53% while top executives reported a double digit growth in its housing loan payment collections in the first five months of the year.
From January to May, the agency collected P31.97 billion in home loan payments, which is 15 percent or P4.22 billion higher than the amount collected during the same period last year. The amount is also a record high in terms of home loan repayments collected by the agency for any period from January to May.
“We are happy to report that our total collection in the first five months of the year stands as the highest in our history. The strong collections will not only strengthen the financial sustainability of the Pag-IBIG Fund, but will also benefit our members because the amount we collect will be returned to our housing portfolio so that more members can avail our home loans. This is one of our ways to follow the call of President Ferdinand Marcos, Jr. to solve the housing backlog in the country under the National Housing for the Filipino or 4PH Program,” said Secretary Jose Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban Development and the 11 members of the Pag-IBIG Fund Board of Trustees.
Meanwhile, Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta said that due to the agency’s continued strong collection of home loan payments in the first five months of the year, the performance loans ratio of Pag-IBIG Fund continues to rise. From 90.69 percent in December last year, the agency’s PLR increased by 184 basis points to reach 92.53 percent in May. “We are grateful to our members for their efforts to fulfill their obligations to pay their debts. Their on-time payments clearly demonstrate their trust in us as we continue to provide programs and services to meet their needs. Our strong collections and PLR will allow us to not only meet the credit needs of our members, but to keep our interest rates low despite the prevailing market conditions. This is all part of our Lingkod Pag-IBIG commitment to provide accessible and affordable housing loans for every Filipino worker,” Acosta added.
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