Latest news with #DHSUD
Filipino Times
06-06-2025
- Business
- Filipino Times
Pag-IBIG Fund maintains low housing loan rates through end of 2025
Pag-IBIG Fund announced that it is maintaining its low interest rates on housing loans until the end of 2025, continuing its efforts to make homeownership more affordable and accessible for Filipino workers. 'We are keeping our housing loan interest rates low to help more Filipino workers achieve their dream of homeownership,' said Secretary Jose Ramon P. Aliling, Chairperson of the 11-member Pag-IBIG Fund Board of Trustees and Secretary of the Department of Human Settlements and Urban Development (DHSUD). 'This forms part of DHSUD's renewed direction to expand the Pambansang Pabahay para sa Pilipino Program, in line with the vision of President Ferdinand R. Marcos Jr. to build a Bagong Pilipinas—where every Filipino has access to safe, affordable, and resilient communities. By keeping rates low, we make monthly amortizations more affordable, enabling more of our members—especially those who are minimum-wage earners and from low-income sectors—to finally move into homes they can truly afford.' Under its current terms, Pag-IBIG Fund offers housing loans at interest rates as low as 5.75% per annum for a one-year repricing period, and 6.25% for a three-year repricing period. Meanwhile, qualified low-income members may avail of special rates under the agency's Affordable Housing Program to purchase socialized housing units at just 3% per annum. Members may also enjoy loan terms of up to 30 years, helping keep monthly amortizations further within reach. Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta said the agency's sound financial position makes the continued low rates possible. 'Pag-IBIG Fund's prudent fiscal management, strong collections, and high-performing loan portfolio continue to keep us financially sound, enabling us to finance our members' housing needs without external borrowing,' Acosta said. 'This allows us to maintain affordable rates and expand home financing access to more Filipino workers. As we fully support the government's housing thrust under the Marcos administration, we remain focused on helping more of our members—especially those in underserved sectors—secure homes they can call their own.' This announcement builds on Pag-IBIG Fund's strong performance in 2025. In the first quarter alone, the agency released ₱30.22 billion in home loans, benefiting over 20,000 members across the country. Additionally, Pag-IBIG Fund's total assets surpassed ₱1.1 trillion as of March 31, 2025, reflecting its robust financial standing and capacity to sustain long-term support for affordable housing finance.
GMA Network
02-06-2025
- Business
- GMA Network
Marcos inks law extending NHA's corporate term, rationalizing its powers
President Ferdinand ''Bongbong'' Marcos Jr. has signed into law the measure strengthening the National Housing Authority by extending its corporate term and rationalizing its powers. Republic Act No. 12216 also repealed Presidential Decree No. 757, series of 1975. Under the new law, the NHA shall continue to exist as a corporate body in which it shall develop and implement a comprehensive, integrated, and affordable housing programs. The law extending the corporate term of NHA for another 25 years beginning July 31, 2025 was signed on May 29, 2025. Under the administrative supervision of the Department of Human Settlement and Urban Development (DHSUD), the NHA's authorized capitalization shall be increased from P5 billion to P10 billion. The NHA shall exercise the power of succession, to sue and be sued, and to adopt and use a seal which shall be judicially noticed; and it shall also acquire property rights and interests, and encumber or otherwise dispose the same, as it may deem appropriate. Under the new law, the agency is also tasked to develop and maintain a database and census of families and households along waterways, in danger areas, government infrastructure project sites, and government-owned lands in Metro Manila and all regions across the country. It must also establish a socialized and low-cost housing loan restructuring and condonation program, subject to the terms and conditions as the Board of Directors may prescribe. It was also stated that nothing in this Act shall operate to abolish the Authority and affect the validity or legality of any right, duty, or obligation created by or in respect of the Authority prior to the effectivity of this Act. Further, the NHA shall continue to assume all rights, obligations, and liabilities that it had during the effectivity of its original charter. The DHSUD, meanwhile, shall cause the Board to deliberate and reach agreements on the reorganization of the Authority, pursuant to Republic Act No. 11201, especially with regard to the mandates of the Authority and its relations to other key shelter agencies (KSAs) and local government units. —AOL, GMA Integrated News
Filipino Times
29-05-2025
- Politics
- Filipino Times
President Marcos appoints two new Cabinet officials after performance review
President Ferdinand R. Marcos Jr. has appointed two new Cabinet officials following a performance review aimed at improving government services. Engr. Jose Ramon Aliling has been sworn in as the new Secretary of the Department of Human Settlements and Urban Development (DHSUD), replacing Secretary Jose Rizalino Acuzar, who is now the Presidential Adviser for Pasig River Development. Aliling previously served as a DHSUD undersecretary, giving him familiarity with the agency's housing and urban development work. Meanwhile, Atty. Darlene Marie Berberabe has been appointed as the new Solicitor General, taking over from Atty. Menardo Guevarra. She is currently the Dean of the UP College of Law and previously served as the CEO of the Pag-IBIG Fund, a housing loan and savings program widely used by Filipinos. The appointments follow President Marcos' directive for all Cabinet members to submit courtesy resignations as part of an overall assessment to improve government efficiency and responsiveness. 'I don't do things for optics. If there is a problem, I like to fix it… expect us to be doing a rigorous performance review, not only at the Cabinet level, but even deeper,' Marcos said during the recent ASEAN Summit in Malaysia. Executive Secretary Lucas Bersamin confirmed that while two resignations have been accepted, the President has kept his economic team and retained Bersamin as executive secretary.
Filipino Times
26-03-2025
- Business
- Filipino Times
Benhur Abalos pushes for affordable homes for OFWs abroad
Former Mayor of Mandaluyong City and former Interior Secretary Atty. Benhur Abalos Jr. is advocating for a housing program that will make it easier for Filipino workers abroad to own homes when they return to the Philippines. During his recent visit to Singapore, Abalos engaged with Filipino workers, discussing their challenges, particularly in securing affordable housing upon their return. Abalos said he recently spoke with Secretary Jerry Acuzar of the Department of Human Settlements and Urban Development (DHSUD) to propose reserving a portion of government housing projects exclusively for OFWs. As of the latest records, there are an estimated 2.16 million registered OFWs. Last year, personal remittances from OFWs hit an all-time high of over USD38 billion. Abalos emphasized the vital role Filipino workers play in the Philippines' economy, particularly through their remittances. However, he noted that despite their financial contributions, many returning workers struggle to afford homes. Abalos suggested offering OFWs the opportunity to pay for their homes through affordable installment plans. He also underscored that housing initiatives in the Philippines should benefit not only local residents but also overseas workers. In 2023, Abalos attended the Philippine Property and Investment Exhibition (PPIE), the biggest, longest-running, and most trusted Philippine investment event in the Middle East. During the event, he discussed the government's efforts to promote transparency, good governance, and ease of doing business, aiming to create a better environment for investors and property buyers, including Filipino workers looking for housing opportunities.
Filipino Times
16-03-2025
- Business
- Filipino Times
Lawmaker pushes for OFW access to affordable housing at real estate convention
Overseas Filipino workers (OFWs), who contribute millions of dollars in remittances to the country, should have equal opportunities to secure decent housing for their families. OFW Partylist Representative Marissa Del Mar Magsino championed this cause at the 29th National Real Estate Association (NREA) and Department of Human Settlements and Urban Development (DHSUD) National Convention on March 7, 2025, in Makati. Speaking at the event, themed 'Elevating Philippine Real Estate Innovation, Sustainability, and Inclusive Growth,' Magsino underscored the vital role of OFWs in driving the economy through their remittances. She urged the government and industry leaders to address OFWs' housing needs by providing affordable and accessible homeownership options. 'In collaboration with stakeholders, we continue to strengthen our initiatives to ensure that no OFW or their families are left behind from their return home to reintegration,' she said. Around 400 participants, including local government officials, real estate professionals, and industry experts, attended the convention. The event featured discussions on key housing policies, real estate regulations, and sustainable urban development, with participation from prominent figures such as DILG Assistant Secretary Elizabeth de Leon, Architect Felino Palafox, and DHSUD representatives. DHSUD Secretary Jose Rizalino 'Jerry' Acuzar, represented by Undersecretary Randy Escolango, delivered the keynote address. Panels covered topics such as strengthening local governance in housing, OFWs' contributions to real estate, and regulatory updates, highlighting collaboration between the government and private sector in addressing housing challenges. The two-day convention emphasized the importance of sustainable and inclusive real estate development, with experts from Pag-IBIG Fund, the Bureau of Internal Revenue, the Anti-Money Laundering Council, and other key institutions sharing insights on building resilient communities. NREA chairperson Imelda Magtoto hailed the event as a success, saying it fostered meaningful discussions that would help shape the future of the Philippine real estate sector. The NREA and DHSUD reaffirmed their commitment to tackling housing challenges and promoting a more inclusive and innovative real estate industry.
