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