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Pag-IBIG home loan releases grow 27% to record-high P83.31B in Q3 2022

  • BULGAR
  • Oct 13, 2022

by Info - @Brand Zone | October 13, 2022



Home loan releases of Pag-IBIG Fund in the last three quarters posted double-digit growth and reached P83.31 billion – the highest ever amount released by the agency for any January to September period, its top officials announced on Wednesday (October 12).

From January to September, the amount of home loans released by the agency increased by 27%, or P17.83 billion compared to the P65.48 billion in home loans released for the same period last year. The number of financed homes also grew 17% year-on-year to 74,708.

"Pag-IBIG Fund’s performance in the first nine months of 2022 now stands as the best in our history. Higher loan releases and an increasing number of borrowers mean that more and more Filipino workers are being helped by Pag-IBIG Fund to have their own homes. All these are part of our efforts to achieve the goal of President Ferdinand R. Marcos, Jr. under the Pambansang Pabahay Para sa Pilipino program, as we continue our pursuit of providing each Filipino family an opportunity to own a home,” said Secretary Jose Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund Board of Trustees.

Acuzar added that out of the total amount of home loans, P5.72 billion were released as socialized home loans benefitting 13,131 Pag-IBIG Fund members belonging to the minimum-wage and low-income sectors.

Meanwhile, Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta noted that the record-high amount of home loans was further driven by a strong third quarter, with the agency releasing a record-high P31.35 billion for the period alone. She added that at this record-setting pace, the agency expects to again surpass P100 billion in home loans this year.

“With our home loan releases amounting to P83.31 billion in the last nine months, we have nearly surpassed the amount released for the entire year in 2019, which was one of our best performing years. By the end of 2022, home loan releases may reach P110 billion, surpassing yet again the P100 billion housing loan takeout level for a single year. We shall do our best to achieve this, as this figure will translate to over 100,000 Filipino workers who shall fulfill their dreams of homeownership. This is one of our many ways of delivering Lingkod Pag-IBIG: Tapat na Serbisyo, Mula sa Puso to our members,” said Acosta.

Acosta added that the strong demand for the agency’s home loans can be attributed to its interest rates which remain low despite the current market trend, high loan-to-appraised value ratio, long repayment period and much-improved insurance terms. (end)



LEARN MORE

Pag-IBIG Fund


Maaaring bisitahin ang official website ng Pag-IBIG sa www.pagibigfund.gov.ph o tumawag sa numerong 8-724-4244 ( 8-Pag-IBIG ).


 
 

The new virtual Pag-IBIG mobile app

  • BULGAR
  • Oct 3, 2022

by Info - @Brand Zone | October 3, 2022




The Virtual Pag-IBIG Mobile App is now available via Google Play at https://play.google.com/store/apps/details?id=pagibigfund.virtualpagibigapp&raii=pagibigfund.virtualpagibigapp, and shall soon be available on the Apple App Store. (END)



LEARN MORE

Pag-IBIG Fund


Maaaring bisitahin ang official website ng Pag-IBIG sa www.pagibigfund.gov.ph o tumawag sa numerong 8-724-4244 ( 8-Pag-IBIG ).


 
 

Acosta appointed as Pag-IBIG Fund CEO

  • BULGAR
  • Sep 19, 2022

by Info - @Brand Zone | September 19, 2022



In a letter released by Malacañang on Monday (19 September), Marilene C. Acosta has been appointed as acting Chief Executive Officer of Pag-IBIG Fund, succeeding Acmad Rizaldy P. Moti as head of the country’s leading home financing agency.


Acosta, who hails from Narvacan, Ilocos Sur, has been with Pag-IBIG Fund since 1981. A Certified Public Accountant (CPA) and Career Executive Service Officer (CESO) V, she rose from the ranks since starting her career as an accounting clerk in Pag-IBIG Fund’s Baguio Regional Office. During her tenure as Pag-IBIG Fund Deputy CEO for Home Lending from March 2017 to September 2022, the agency released consistent record-highs in housing loans, which then enabled a record-high number of members to acquire their own homes.



“I am grateful for the trust that the President Ferdinand Marcos, Jr. and our Chairperson, DHSUD Secretary Jose Rizalino Acuzar have given me on being appointed to this post. I also thank outgoing CEO Moti and my fellow Lingkod Pag-IBIG for their support, as well as the Organization of Socialized and Economic Housing Developers in the Philippines (OSHDP), Inc. and the Subdivision and Housing Developers Association (SHDA), Inc. for their endorsements. I assure all of them, as well as our members, partner-developers, partner-employers and stakeholders, that we at Pag-IBIG Fund shall remain committed in providing them responsive and excellent service. My more than 40 years of public service in Pag-IBIG Fund has prepared me well for this post, and I will put to best use all that I have learned during the past four decades in ensuring that we continue the fulfillment of our mandates and in providing Tapat na Serbisyo, Mula sa Puso,” Acosta said.


Outgoing Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy Moti, meanwhile, hailed Acosta’s appointment. He said that this would ensure continuity in the agency’s directions towards sustaining and building on the many gains it has accomplished over the recent years.


“CEO Acosta’s leadership, excellence, integrity, and grit are among the key factors that have enabled Pag-IBIG Fund to accomplish numerous record-highs and milestones, particularly in the home financing front. Her appointment shall allow the continuity and sustainability of Pag-IBIG Fund’s efforts to uplift the lives of all Filipino workers. I truly wish her and Pag-IBIG all the best,” Moti said.


Moti leaves Pag-IBIG Fund in its strongest-ever state, posting significant increases in key metrics from 2016 - the year prior to assuming his post as CEO. As of August 2022, the agency has P795.93 billion in total assets, an 81% increase from P439.30 billion as of yearend 2016; a P100.8 billion single-year home loan release in 2021, a 76% increase from the annual home loan takeout of P57.3 billion six years ago; P25.95 billion voluntarily saved by members in MP2 Savings in 2021, a 3,065% increase from the P0.82 billion saved in 2016; investible funds amounting to P92.56 billion, a 49% increase from P62.15 billion in 2016; and, an annual net income of more than P30 billion for five consecutive years since 2017.




LEARN MORE

Pag-IBIG Fund


Maaaring bisitahin ang official website ng Pag-IBIG sa www.pagibigfund.gov.ph o tumawag sa numerong 8-724-4244 ( 8-Pag-IBIG ).


 
 
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