NHMFC Communication Team

(L-R) Securitization Group Vice President Maria Luisa Favila, NHMFC Executive Vice President Livia Alicia Ramos  and LBP Trust Banking Group Assistant Vice President Analiza M. Vasco sign the Special Purpose Trust Agreement for the issuance of the BALAI Shelter Compliance ABS.

The National Home Mortgage Finance Corporation (NHMFC) is set to issue this year its 5th securitization offering, tagged as the BALAI Filipino Communities Compliance Asset-Backed Securities or BALAI Shelter Compliance ABS. The Asset-Backed Securities (ABS) will be offered to developers and the purchase thereof shall be considered as full compliance to the Balanced Housing Development Program of the Department of Human Settlements and Urban Development (DHSUD).

The signing ceremony of the Special Purpose (SPT) agreement between NHMFC as the “Seller” and the Landbank of the Philippines-Trust Banking Group as the “SPT” was witnessed by the LBP-Investment Banking Group (as Arranger) and MOSVELDTT Law Office (as Legal Counsel).

The securitized note will be backed by around P715 million in low-delinquency socialized housing loan receivables.

NHMFC President Carlo Luis P. Rabat expressed his gratitude to DHSUD’s support to this endeavor. “As our core program, it is NHMFC’s desire to undertake this program and we are delighted with the unwavering support to NHMFC of DHSUD Secretary Eduardo del Rosario. DHSUD’s approval has finally led our road to the signing of this SPT Agreement,” he said. The signing of agreement with other third parties for the BALAI Shelter Compliance ABS will follow pending the approval of the securitization issuance by the Securities and Exchange Commission (SEC).