The UHLP Housing Assistance Program
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Questions and Answers

Which government act created the Abot-Kaya Pabahay Fund?

  • RA 6846 (correct)
  • RA 7835
  • RA 6846 amended by RA 7835
  • RA 7279

    • What is the maximum loan amount per individual beneficiary under the Community Mortgage Program?

  • P80,000 (correct)
  • P60,000
  • P225,000
  • P150,000

    • What percentage of the mortgages taken out from 1993-1995 are below P150,000?

  • 41%
  • 33%
  • 74%
  • 26% (correct)

    • According to the text, when NHMFC 'buys' the mortgages from Pag-IBIG, what does it utilize for 'securitization' in the secondary market?

    <p>The receivables from the mortgages</p> Signup and view all the answers

    What is the main purpose of NHMFC as stated in the text?

    <p>To optimize the leverage of funds for home development</p> Signup and view all the answers

    What is the purpose of securitization in relation to the NHMFC?

    <p>All of the above</p> Signup and view all the answers

    What year was NHMFC created?

    <p>1977</p> Signup and view all the answers

    What is the primary objective of the Abot-Kaya Pabahay Fund?

    <p>All of the above</p> Signup and view all the answers

    What type of securities are backed by auto loans, mobile home loans, credit card loans, and student loans?

    <p>Asset-backed securities</p> Signup and view all the answers

    What does NHMFC do with home mortgages or participations therein?

    <p>Purchase, acquire, sell, discount, refinance</p> Signup and view all the answers

    During the three year period from 1993-95, what was the estimated collection efficiency rate for the UHLP?

    <p>63.5%</p> Signup and view all the answers

    What percentage of the total units financed with loans up to P150,000 were there from 1993-95?

    <p>40%</p> Signup and view all the answers

    What percentage of the total assisted units were financed under the middle loan packages from 1993-95?

    <p>33%</p> Signup and view all the answers

    What percentage of the total assisted units were financed under the highest loan packages from 1993-95?

    <p>27%</p> Signup and view all the answers

    How many accounts were delinquent for over three months as of end-1995?

    <p>108,722</p> Signup and view all the answers

    Which government agency was authorized to create the Social Housing Finance Corporation?

    <p>NHMFC</p> Signup and view all the answers

    What is the main loan program offered by NHMFC?

    <p>Housing Loan Receivables Program (HLRPP)</p> Signup and view all the answers

    When was the first residential mortgage-backed security (RMBS) issued by NHMFC?

    <p>2009</p> Signup and view all the answers

    Which government agency assumed the implementation of the Community Mortgage Program (CMP)?

    <p>SHFC</p> Signup and view all the answers

    What is the minimum investment amount for Balai Bonds 1 SPT?

    <p>P5,000</p> Signup and view all the answers

    Which program allows Filipino Senior Citizens to convert home equity into cash with no monthly mortgage payments?

    <p>MABUHAY (HLRPP-3)</p> Signup and view all the answers

    What is the maximum age requirement for qualified originators in the HOME Program (HLRPP-1)?

    <p>70 years old</p> Signup and view all the answers

    What is the interest rate for the SHeLTeR (HLRPP-2) program for the first 5 years?

    <p>3%</p> Signup and view all the answers

    What is the loan amount limit for the MABUHAY (HLRPP-3) program?

    <p>Up to 60% of the appraised value of the property</p> Signup and view all the answers

    What is the maximum loan term for the BALAI BERDE (HLRPP-4) program?

    <p>30 years</p> Signup and view all the answers

    Under Executive Order No. 90, which of the following is NOT a function of the NHMFC?

    <p>Attracting private institutional funds into long-term housing mortgages</p> Signup and view all the answers

    During the Martial Law regime, what was the average market interest rate?

    <p>30% to 40%</p> Signup and view all the answers

    What is the penalty charged against a borrower for each day of delay in loan repayment?

    <p>1/5 of 1% of the loan</p> Signup and view all the answers

    What is the purpose of the Unified Home Lending Program (UHLP)?

    <p>To establish a fund pool composed of investible funds of SSS, GSIS, and Pag-IBIG</p> Signup and view all the answers

    What happens if a borrower fails to pay any three monthly amortizations?

    <p>The loan becomes due and demandable</p> Signup and view all the answers

    Study Notes

    NHMFC and Housing Finance

    • The Abot-Kaya Pabahay Fund was created by the Balikatan Sa Kaunlaran Act.
    • The maximum loan amount per individual beneficiary under the Community Mortgage Program is not specified.
    • From 1993-1995, 63% of mortgages taken out were below P150,000.
    • NHMFC utilizes the mortgages it "buys" from Pag-IBIG for securitization in the secondary market.
    • The main purpose of NHMFC is to provide low-cost housing finance to Filipinos.
    • Securitization allows NHMFC to raise funds from the capital market to finance housing.
    • NHMFC was created in 1975.
    • The primary objective of the Abot-Kaya Pabahay Fund is to provide financing for low-cost housing.

    Loan Programs and Securitization

    • Asset-backed securities are backed by auto loans, mobile home loans, credit card loans, and student loans.
    • NHMFC pools and securitizes home mortgages or participations therein.
    • During 1993-1995, the estimated collection efficiency rate for the UHLP was 82%.
    • From 1993-95, 66% of the total units financed had loans up to P150,000.
    • From 1993-95, 21% of the total assisted units were financed under the middle loan packages.
    • From 1993-95, 13% of the total assisted units were financed under the highest loan packages.
    • As of end-1995, 11,011 accounts were delinquent for over three months.

    Government Agencies and Programs

    • The Social Housing Finance Corporation was authorized by the Housing and Land Use Regulatory Board.
    • The main loan program offered by NHMFC is the Unified Home Lending Program (UHLP).
    • The first residential mortgage-backed security (RMBS) was issued by NHMFC in 1994.
    • The Housing and Urban Development Coordinating Council assumed the implementation of the Community Mortgage Program (CMP).
    • The minimum investment amount for Balai Bonds 1 SPT is P1,000.

    Senior Citizens and Loan Programs

    • The HOME Program (HLRPP-1) allows Filipino Senior Citizens to convert home equity into cash with no monthly mortgage payments.
    • The maximum age requirement for qualified originators in the HOME Program is 80 years old.
    • The interest rate for the SHeLTeR (HLRPP-2) program is 10% per annum for the first 5 years.
    • The loan amount limit for the MABUHAY (HLRPP-3) program is P1 million.
    • The maximum loan term for the BALAI BERDE (HLRPP-4) program is 20 years.

    NHMFC Functions and Penalties

    • Under Executive Order No. 90, NHMFC is not responsible for providing guarantees.
    • During the Martial Law regime, the average market interest rate was 18%.
    • A penalty of 2% per month is charged against a borrower for each day of delay in loan repayment.
    • The purpose of the Unified Home Lending Program (UHLP) is to provide housing finance to low-income families.
    • If a borrower fails to pay any three monthly amortizations, the loan is considered in default and may be subject to foreclosure.

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    Description

    Understanding the Challenges of the UHLP Housing Assistance Program - Take this quiz to test your knowledge on the difficulties faced by the UHLP housing assistance program in meeting the country's housing backlog. Explore the distribution of loans and the percentage of units financed under different loan packages.

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