In a statement, Pag-IBIG Fund said from January to May, it collected P31.97 billion in home loan payments - 15% or P4.22 billion higher than the collection in the same month last year.“We are happy to report that our total collections for the first five months of the year already stand as the highest in our history," said Secretary Jose Rizalino Acuzar, who heads both the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund Board of Trustees.
Acuzar added that strong collections not only reinforced the Pag-IBIG Fund’s financial sustainability, but also benefited members because the amount collected was then ploughed back to the fund's housing portfolio so that more members can avail of home loans. “This is one of our ways of heeding President Ferdinand Marcos Jr.’s call in solving the country’s housing backlog under the Pambansang Pabahay para sa Pilipino or 4PH Program,” said Acuzar.
For her part, Pag-IBIG Fund CEO Marilene Acosta said that due to the agency’s continued strong collections in home loan payments in the first five months of the year, its performing loans ratio rose.“We are grateful to our members for their efforts in fulfilling their payment obligations on their loans. Their on-time payments are clearly reflective of their trust in us as we continue to provide relevant programs and services to respond to their needs,” said Acosta.
“Our strong collections and PLR would allow us to not only address the loan needs of our members, but also to keep our interest rates low despite the prevailing market conditions. These are all part of our Lingkod Pag-IBIG commitment to provide accessible and affordable home loans for each Filipino worker,” said the Pag-IBIG CEO.