To further explore solutions to housing finance concerns and housing market, Mongolian Mortgage Corporation (MIK) Chief Executive Officer Gantulga Badamkhatan met with the NHMFC key officers led by NHMFC President Renato L. Tobias at the NHMFC Head Office in Makati City.
At the International Secondary Mortgage Market Association (ISMMA) held in Singapore earlier this year, NHMFC sealed a Memorandum of Understanding (MOU) with the Mongolian Mortgage Corporation. The scope of cooperation under said MOU includes exchange of information on research and programs involving financial instruments, mortgage-backed securities, risk management programs, and comparison of housing finance mortgage and investor activities both in the Philippines and Mongolia.
During the meeting, Mr. Badamkhatan shared that Mongolia has a different business model compared with NHMFC. “We want to know how the government provides subsidies, we want to look at how NHMFC provides liquidity for the housing industry, and how the treasury bond operates,” he added.
MIK will be sending its delegate to the Philippines for a one-month knowledge sharing program with NHMFC. In coordination with NHMFC’s Securitization Group led by Vice President Maria Luisa Favila, the MIK representative will study the securitization and treasury processes of the corporation. NHMFC will likewise study Mongolia’s business model and will also be working with the MIK delegate in this endeavor.