Memorandum of Understanding of National Home Mortgage Finance Corporation (NHMFC) and Home Development Mutual Fund (HDMF)

(From left to right) Mr. Alexander Hilario G. Aguilar (Deputy Chief Executive Officer, Member Services Operations Cluster of Pag-IBIG Fund). Mr. Acmad Rizaldy P. Moti (Chief Executive Officer of Pag-IBIG Fund), Mr. Eduardo D. del Rosario (Chairperson of Housing and Urban Development Coordinating Council), Atty. Falcon V. Millar, CPA (Secretary General of Housing and Urban Development Coordinating Council), Dr. Felixberto U. Bustos, Jr. (President of National Home Mortgage Finance Corporation), Ms. Livia Alicia R. Ramos (Executive Vice President of National Home Mortgage Finance Corporation).

The signing of Memorandum of Understanding between National Home Mortgage Finance Corporation (NHMFC) and the Home Development Mutual Fund (HDMF) for the purchase of HDMF’s socialized housing loan portfolio. NHMFC will issue an Asset-Backed Securities (ABS) with the purchased housing loan portfolio as underlying assets. The issued securities which will be called BALAI Bonds 2, will be sold to Institutional Investors (19 Main Housing Developers). The BALAI Bonds 2 will serve as alternative compliance to Balanced Housing requirements per RA 10884.