OFFICE OF THE CORPORATE SECRETARY
Serves as the legal Counsel of the Corporation and provides secretariat services to Board meetings and the furnishings copies thereof to the Chairman and members of the Board.
INTERNAL AUDIT DEPARTMENT
Develops, monitors, evaluates and appraises corporate internal control system concerning organizational structure, operational procedures, records and standards of performance to ensure an orderly, efficient and effective conduct of business and operations of NHMFC.
OFFICE OF THE PRESIDENT
Performs the general policy and strategic decision-making functions of the Corporation and the provision of directions that will guide NHMFC's day to day operations. The functions included under the Office of the President are media services that will serve as public relations and information arm of the Corporation, and the special projects office in-charge of the implementation of the Social Housing Development Loan Program (SHDLP).
The Office of the President shall have under its direct supervision and control the Office of the Executive Information Systems Department, Collection and Accounts Management Group.
A. OFFICE OF THE EXECUTIVE VICE-PRESIDENT
Assists the President and plans, directs, organizes, oversees and coordinates the entire operations of the NHMFC in accordance with board directives, presidential instruction, corporate charter and NHMFC mandate under the Housing and Urban Development Coordinating Council. Oversees the operations of the Corporation and ensures the establishment of systems, policies and procedures with effective and efficient internal control mechanisms to operate the activities of the office.
B. CORPORATE PLANNING DIVISION
Designs, develops and implements the corporate planning system and monitors the accomplishment of the company plans and programs.
The Department shall also be in-charge of system design, programming and EDP operations. It shall undertake the formulation and evaluation of the Corporate Management Information System (MIS) plans and programs, the design and development of computer systems and the manualization of such procedures and the monitoring and upkeep of the performance of these systems.
B1. INFORMATION SYSTEMS AND TECHNICAL SUPPORT DIVISION
Undertakes the design and development of computerized systems and its related manual support systems; oversees the actual implementation of developed computer systems with corporate-wide involvement; and the monitoring and upkeep of the performance of these systems.
Manages database, installation of software, computer and network resources. Ensures that NHMFC's computer system should be up and running to support other user groups and/or departments, and maintain optimum use of the resources available in the data center.
B2. ELECTRONIC DATA PROCESSING DIVISION
Implements the computer systems of the Corporation's operations in accordance with set policies/guidelines and ensures the smooth flow of information between management and its clients through the maintenance of such systems. The Division also handles the posting of loan payments of borrowers who availed of various loan updating programs of the Corporation.
C. COLLECTION AND ACCOUNTS MANAGEMENT GROUP
Implements approved policies, guidelines, standards and procedures pertinent to the effective and proper monitoring, servicing/collection of amortizations of borrowers of NHMFC's lending programs (e.g. UHLP, FOLIO I, PEA); closely coordinates with borrowers and other concerned institutions specially on the classification of accounts such as items-in-litigation and in the foreclosure/sale of said accounts; continuously reviews the collection and account servicing operation system and recommends modification strategies to improve public service and collection performance/efficiency rate.
C1. INSURANCE OFFICE
Determines all qualified mortgagors to be properly covered by Mortgage Redemption Insurance (MRI) and their mortgage collaterals, including those owned by the Corporation, to be adequately covered by Fire and Allied Perils Insurance (FAPI) and that all MRI and FAPI claims filed are immediately settled by the Insurers.
C2. CENTRAL OFFICE COLLECTION MANAGEMENT DEPARTMENT
Responsible for the monitoring, servicing and collection of all loan accounts located in the National Capital Region, Cavite, Laguna, Rizal and other areas of Region IV-A and IV-B. This is in coordination with concerned NHMFC offices and/or collecting accounting banks accredited by the Corporation. The Department prepares and maintains complete borrower loan information in manual or computerized forms as back-up system/reference for examination and evaluation of work relative to originating institutions and/or collecting banks.
Processes, evaluates and verifies accounts requested for updating/restructuring, assumption or conversion of mortgages and full payment.
C.2.1 NCR DIVISION
Responsible for the monitoring, servicing and initiating the collection of all loan accounts located in the National Capital Region.
C.2.2 RIZAL DIVISION
Responsible for the monitoring, servicing and initiating the collection for all loan accounts located in the province of Rizal and cities in the area.
C.2.3 LAGUNA DIVISION
Responsible for the monitoring, servicing and initiating the collection of all loan accounts located in the province of Laguna and cities in the area.
C.2.4 CAVITE DIVISION
Responsible for the monitoring, servicing and initiating the collection of all loan accounts located in the province of Cavite and cities in the area.
D. REGIONAL ACCOUNTS SERVICING DEPARTMENT
Responsible for the monitoring, servicing and initiating the collection of all loan accounts at regional level or those not serviced by the Central Office Collection Management Department. This is in coordination with NHMFC accredited originating institutions/associations and collecting banks. It also prepares and maintains complete and updated borrower's loan folio in the regional offices. It also processes, evaluates and verifies account requests for restructuring, assumption or conversion of mortgages and full payment.
D1. LUZON ACCOUNTS SERVICING DIVISION (Regions I, II, III and NCR)
Responsible for monitoring, servicing and initiating the collection of all loan accounts located in the Luzon region specifically Regions I, II, III and the Cordillera Administrative Region. This is in coordination with NHMFC accredited originating institutions/associations or collecting banks in that area. It also prepares and maintains complete and updated borrowers loan folio in the regional offices. It also processes, evaluates and verifies accounts requested for restructuring, assumption or conversion of mortgages and full payment.
D2. VISAYAS ACCOUNTS SERVICING DIVISION
Responsible for monitoring, servicing and initiating the collection of all loan accounts located in the Visayas region (Regions VI, VII and VIII). This is in coordination with NHMFC accredited originating institutions/associations or collecting banks in that area. It also prepares and maintains complete and updated borrower's loan folio in the regional offices. It also processes, evaluates and verifies accounts requested for restructuring, assumption or conversion of mortgages and full payment.
D3. MINDANAO ACCOUNTS SERVICING DIVISION
Responsible for monitoring, servicing and initiating the collection of all accounts located in the Mindanao region (Regions IX, X, XI, XII, ARMM and CARAGA). This is in coordination with NHMFC accredited originating institutions/associations and collecting banks in the area. It also prepares and maintains complete and updated borrower's loan folio in the regional offices. It also processes, evaluates and verifies account requests for restructuring, assumption or conversion or mortgages and full payment.
CORPORATE SUPPORT SERVICES GROUP
Plans, directs and coordinates corporate programs and thrusts that are subjected to the immediate authority of the President. It shall ensure the efficient and effective implementation of policies, plans and programs of the Corporation through the Legal Department and Administrative and Finance Department.
A. LEGAL DEPARTMENT
Provides overall legal services in the form of operational and development counseling which includes evaluation and preparation of mortgage documentations for purchase/takeout; formulation and drafting of contracts in the which the Corporation is part of the party as well as the standard legal documentation needed for the establishment of the services such as legal researches and studies, legal opinions and counseling on the various aspects of its operational and developmental function. Handles all the litigation of cases filed for and against NHMFC including foreclosure proceedings and the management and disposal of properties acquired by the Corporation incident to its express powers.
Provides legal policies, guidelines, standards and procedures on the effective and proper monitoring/servicing/collection of amortizations of all Acquired Asset Division accounts.
A.1. LITIGATION DIVISION
Handles all litigation and prosecution of cases filed for or against the Corporation and attends all court, quasi-judicial , administrative cases, investigation and foreclosure proceedings.
A.2. LEGAL SERVICES AND COUNSELING DIVISION
Provides legal services in the form of legal opinion and counseling researches and studies appropriate documentation and ensures that all corporate acts and deeds are in accordance with law. Formulates and implements corporate documents consistent with policy changes; prepares and reviews documents which include operational requirements.
A.3. ACQUIRED ASSETS DIVISION
Administers, maintains, and manages the disposition of properties acquired by the Corporation via foreclosure proceedings, dacion en pago, and other modes of property acquisition.
B. ADMINISTRATIVE AND FINANCE DEPARTMENT
Provides overall administrative and financial services to support corporate operations. The Department shall undertake the development and administration of an internally consistent and externally competitive staffing pattern and package compensation consistent with existing laws, as well as the comprehensive staff development program. Administers the centralized records management system and the Corporation's general service requirements.
Provides an efficient and effective accounting services for NHMFC and implements the appropriate financial control and review system involving corporate accounts. It also develops and implements pre-audit and review system of all disbursements to ensure compliance with existing laws, rules and regulations; maintains a complete record of bank remittances or payments of borrower's accounts, including reconciliation of all accounts; and installs and implements an efficient and effective budget management, monitoring and control system including verification of financial transactions.
Likewise this Department shall be responsible for the optimum cash receipt and disbursement of NHMFC's funds in accordance with corporate policies and targets. Monitors cash transactions and collection from accredited banks employers.
B.1. HUMAN RESOURCE MANAGEMENT DIVISION
Provides the Corporation with adequate, efficient, competent and well-motivated workforce through training and development and the establishment of the necessary machinery for fulfilling the NHMFC manpower requirements. It shall also provide for the conduct of programs and studies for the continuous improvement of existing systems and procedures and approaches to human resource planning and development. Finally, it shall also be in charge of the administration of personnel appointments/movements, and processing of employee claims and benefits.
B.2. GENERAL SERVICES DIVISION
Ensures the efficient and effective administration of support services and provision of adequate facilities, timely procurement of supplies, materials and equipment requirements of the various NHMFC offices. In-charge of the maintenance and control of the central library and record and reference section of the office including the provision of mailing services for all NHMFC units.
B.3. CONTROLERSHIP AND BUDGET DIVISION
Implements the financial control system mechanism on administrative and operational expenses and ensure that such expenditures are within prescribed policies, laws, rules and regulations.
Installs and implements an effective and effective budget management, monitoring and control system including verification of financial transactions of the Corporation.
B.4. GENERAL ACCOUNTING DIVISION
Provides efficient and effective general accounting services involving Corporate accounts through the systematic recording of financial transactions, maintenance of general ledger and preparation of related financial reports. Periodically reviews and evaluates the present accounting system to determine further improvements to make the system more responsive to the needs of the Corporation.
B.5. CASH DIVISION
Formulates and implements systems and procedures to ensure effective management, banking, control and recording of collections received over the counter or through field collections as well as the disbursement of corporate funds in accordance with set government rules and procedures, geared towards corporate targets.
Initiates, formulates and implements policies and procedures that will govern the operation of an effective and efficient securities market. IT develops/adopts loan guidelines that helps asset originators determine whether a borrower has the ability to repay the debt, and the property is sufficient security for the mortgage to ensure that the loan or debt qualifies to be securitized.
Provides all integral tasks involving the implementation and administration of policies and guidelines related to booking, processing, pricing, securities monitoring and marketing to channel funds from the capital market to loan or mortgage originators and investors. It assists rating companies while investors assess and analyze the asset pool/securities and relate the same to the borrower's income, asset, liabilities, and net worth to guarantee periodic repayment of the loan security loan. It draws comparative ratios acceptable to the investment playing field of an investor and ensures a constant supply of funds for both lenders and borrowers and vice-versa. It ensures the structure of the quality control system to suit the requirements of securitizing program.
Formulates and implements policies and guidelines to establish liquidity support mechanisms that will enable investors to liquefy their investment before its maturity. It shall render assistance in implementing systems and mechanisms of liquefaction by the investors. It shall ensure constant flow of funds available to the lenders and investors in the event of shortfall of funds from collections.
Undertakes the timely and periodic reportorial requirements on the operations of the securitization program. It shall coordinate with the different government agencies especially the Department of Finance, Department of Budget and Management, Securities and Exchange Commission Bureau of Internal Revenue and Bangko Sentral ng Pilipinas on matters related to the Corporation's compliance to existing rules and regulations pertinent to its performance and operations.
Responsible for the promotion and adoption of marketing strategies to encourage prospective investors to purchase the instrument to be issued. Undertakes activities such as the designing and packaging features and defining of the terms and conditions of the instrument to be more competitive with other investments in the market.
A. MORTAGE, ACCREDITATION, POOLING AND RATING
Formulates policies, guidelines and procedures that will govern the creation of a pool of loans or mortgages based on prescribed security structure and rating criteria. It shall be responsible for analyzing and classifying the characteristics of seasoned and qualified loans or mortgages that would constitute a pool for the issuance of an asset-backed security certificate. It shall also define the criteria of rating the pool as means of emphasizing the options or risks and provide a comfort level to the investors. Whenever necessary, coordinate with the rating agencies engaged by the corporation for the desired structure of the pool of assets or mortgages to be securitized. Initiates and formulates all policies, guidelines and procedures required in the accreditation of banks and other financial institutions.
A.1. ACCREDITATION AND RATING DIVISION
Ensures that policies, guidelines and procedures in accrediting banks and developer/financial institutions as originators of seasoned loans are observed and properly implemented. Also ensures that deviation that may arise in the implementation of policies, guidelines and procedures are addressed judiciously and efficiently through appropriate corrective measures.
Identifies and defines the factors that comprise the rating criteria to be applied to the pool and assets or mortgages it contains. Establishes and determines the yield and pass through rates to minimize credit and interest rate risks. Whenever necessary assists in the preparation of borrower's credit documentation and property evaluation and appraisal forms and include the desired rates to facilitate evaluation of the pool by the prospective investors. It shall also identify the risks factors that could materially affect issuance of a specific debt instrument. Renders assistance to the rating agencies engaged by the corporation.
A.2. POOLING AND ANALYSIS DIVISION
Conducts research about pooling and analysis of loans or mortgages based on domestic and international standards to attract investors to purchase the security paper issued by the corporation. The Division is also responsible in analyzing and classifying the characteristics of the responsible and qualified loans or mortgage contained in the pool based such as the character, capacity to pay, the collateral, credit standing of the borrower and integrity of the originator.
Also undertakes research studies that will enable the pooled loans to be attractive to the investors using credit standards prevailing in the market. Evaluates the quality of property appraisal and determines the collection efficiency of each used as collateral to the instrument issued.
A.3. COLLATERAL AND APPRAISAL DIVISION
In-charge of the over-all validation of the appraised value of the collaterals as presented by the originator in the determination of loan to value ratio. It conducts inspection to determine the location and geographic dispersion of the collaterals that comprise the pool of assets or mortgages. It ensures that the collateral composition of the pool demonstrate a high level of security margin against the negotiable instrument issued. Establishes a systematic approach in gathering information about property evaluation and location to serve the needs of the management and investors.
B. MARKETING DEPARTMENT
Formulates policies, guidelines and procedures in marketing the asset-backed securities of the Corporation to attract investors. Determines investors' investment criteria and establishes an array of information about the security instruments issued in the market and identify investor preferences to a particular instrument. Identifies the economic forces that have an impact on the security issuance. It shall conduct evaluation and assessment to enhance the marketability of the asset-backed security to be issued.
Formulates and prepares a comprehensive marketing plan and promotion strategy, implements and monitors both the plan and the strategy to ensure the disposition and sale of the asset-backed security in the domestic/international, retail/institutional market.
B.1. PROCESSING AND PRICING DIVISION
Establishes, formulates, implements, supervises and monitors the pricing policy affecting debt instrument issuance. Defines the pricing terminologies to educate the parties involved in the asset-backed security operations. It shall establish the policies governing the pricing to encourage originators to actively participate in the securitization program. It shall also define, formulate policies and guidelines including the computation of costs and yields affecting the issuance of the asset-backed security. It shall assist in determining the acceptable origination fees, servicing fees, discount rates, and other benefits related to the delivery of assets or pooling of the same taking into consideration the costs and administrative expenses leading to the eventual sale of the instrument to the investor.
B.2. PRODUCT DOCUMENTATION AND MARKETING DIVISION
Formulates, implements, supervises and monitors comprehensive promotion strategies to realize a sale of the asset-backed instruments to the investors. Prepares promotional materials, prospectus, and information campaigns on the asset-backed instruments to be issued. Prepares prospectus and information campaign materials for the borrowers and originators as pre-qualification guidelines to pooling. Consolidates and compiles materials about the information on the composition of the pool including identity of the borrower, quality and value of the collateral for the purposes in order to motivate prospective investors to purchase the instrument.
C. SECURITIES AND LIQUIDITY SUPPORT DEPARTMENT
Conducts the formulation, design and implementation of policies, guidelines and procedures that will govern the security support services and liquidity mechanism of the securitization program. Undertakes research activities and prepares the data for the guidance of the Management in making decisions and approving transactions that enable investors liquefy or rediscount their asset backed security instrument. Maintains an extensive data base that serves as backroom support of the unissued and issued instruments such as maintenance of securities and transfer book, design and printing of securities, monitoring and control of accountable forms and documents. In case some support services such as underwriting, account servicing, trusteeship have been contracted out of outsourced, the Department will maintain close coordination and monitoring with these agencies to ensure the compliance to existing rules, laws and regulations governing the operations of securitization.
C.1. LIQUIDITY SUPPORT DIVISION
Implements approved policies, guidelines and procedures of monitoring liquidity position of the securitization program. Assists, formulates amendments to policies, guidelines and procedures as a result of thorough evaluation of existing procedures to enhance the monitoring system. Employ a system that will monitor pre-termination of default to the borrowers that will have an effect with the projected cash flows. Prepares cash flow projections in anticipation of rediscounting of asset-backed security issued. Coordinates with appropriate group or departments to actual remittance to the account of NHMFC as inputs to cash-inflows. Prepares projected cash outflows of possible reduction of expected collections due to non-regularity of payments by the borrower. Establishes strong coordination among the parties involved in the operations of the securitization program, especially the servicer, guarantor, trustee, Department of Budget and Management, Bureau of the Treasury to ensure timely release of funds allotted for securitization.
C.2. SECURITIES MONITORING AND COMPLIANCE DIVISION
Serves as backroom support of mortgage trading by providing documentation of all transactions, maintenance of securities and transfer book, design and printing of securities, monitoring control of accountable forms and documents. Prepares performance and monitoring reports for the consumption of government instrumentalities and other concerned parties. Collate documents, rules and regulations governing securitization and ensure compliance of the same by the concerned departments, division or groups.
D. TREASURY DEPARTMENT
Responsible for the formulation and implementation of policies, system and procedures on the receipt banking, custody and disbursement of cash, ensures post market servicing of securities, undertake short-term fund sourcing and the management of investment and excess funds. It shall also be in charge of the processing and documentation of Corporate sourcing products.
D.1. SECURITIES AND MORTGAGE CUSTODIANSHIP DIVISION
Formulates and implements systems and procedures in the safekeeping and control of all documents and other accountable forms pertaining to the securitization program of the Corporation.
Establishes and implements the control and monitoring system for the unissued and issued instruments.
D.2. INVESTMENT AND LIQUIDITY MANAGEMENT DIVISION
Implements policies develop systems and programs for the investment of corporate funds, receipts from amortization collections, trading and servicing of corporate securities, management of debt instruments and scheduling of cash allocations, monitoring and management of corporate funds.
D.3. CASH MANAGEMENT DIVISION
It shall be responsible in the installation of cash management system that ensures an effective and efficient cycle of funds from investors. In-charge in the implementation of procedures and guidelines related to the receipt of proceeds of sold instruments and the documentation of the same. Defines and designs the system of distributing the proceeds of the sold instruments.