Pag-IBIG’s mortgage payments reached 57.6 billion pesos, up 30%; PLR rises to 89.96%

Thanks to strong mortgage collections over the past 10 months, Pag-IBIG Fund’s performing loan ratio rose to 89.96% in October, exceeding the agency’s year-end target by 196 basis points, executives announced on Monday (November 28).

From January to October, mortgage payments totaled 57.58 billion pesos, up 30 percent from the 44.27 billion pesos collected during the same period last year. This amount is a record high in terms of mortgage payments collected by the agency for any period from January to October.

“We are pleased to announce that the amount of mortgage payments we have collected this year is the highest in our history. This is good news as it reflects the continued recovery of our borrowers from the financial difficulties caused by the pandemic. Our strong collections are key to maintaining our financial strength as the amounts we raise are returned to our housing portfolio so that more members can benefit from affordable housing loans from the Pag-IBIG Foundation. This is one of our ways to heed President Ferdinand Marcos Jr’s call to address the country’s housing shortage over the next six years.” said Secretary José Rizalino L. Acuzar, who heads both the Department of Human Settlements and Urban Development and Pag-IBIG’s 11-member board of trustees.

Pag-IBIG Chief Executive Officer Marilene S. Acosta added that the agency beat its year-end target for its outstanding loan ratio (PLR) earlier than forecast, thanks to record high collections.

As of October, Pag-IBIG’s PLR stood at 89.96%, above its year-end target of 88%, and up 1,028 basis points from September 2021, when the agency’s PLR fell to 79.68 % due to the effects of the pandemic.“We thank our members for their efforts to meet their Pag-IBIG home loan repayment obligations. This shows their growing appreciation that their timely payments allow us to continue to fund the loans of other members who want their own home loans. And as we all continue to recover from the pandemic, we will continue to work hard to keep our collections strong and our PLR high. This will allow us not only to meet the needs of our members for loans, but also to keep our interest rates low, despite the upward trend in the market. This is all part of our commitment to Lingkod Pag-IBIG to provide affordable home loans to every Filipino worker.” Acosta added.

Pag-IBIG’s mortgage payments reached 57.6 billion pesos, up 30%; PLR rises to 89.96%

Thanks to strong mortgage collections over the past 10 months, Pag-IBIG Fund’s performing loan ratio rose to 89.96% in October, exceeding the agency’s year-end target by 196 basis points, executives announced on Monday (November 28).

From January to October, mortgage payments totaled 57.58 billion pesos, up 30 percent from the 44.27 billion pesos collected during the same period last year. This amount is a record high in terms of mortgage payments collected by the agency for any period from January to October.

“We are pleased to announce that the amount of mortgage payments we have collected this year is the highest in our history. This is good news as it reflects the continued recovery of our borrowers from the financial difficulties caused by the pandemic. Our strong collections are key to maintaining our financial strength as the amounts we raise are returned to our housing portfolio so that more members can benefit from affordable housing loans from the Pag-IBIG Foundation. This is one of our ways to heed President Ferdinand Marcos Jr’s call to address the country’s housing shortage over the next six years.” said Secretary José Rizalino L. Acuzar, who heads both the Department of Human Settlements and Urban Development and Pag-IBIG’s 11-member board of trustees.

Pag-IBIG Chief Executive Officer Marilene S. Acosta added that the agency beat its year-end target for its outstanding loan ratio (PLR) earlier than forecast, thanks to record high collections.

As of October, Pag-IBIG’s PLR stood at 89.96%, above its year-end target of 88%, and up 1,028 basis points from September 2021, when the agency’s PLR fell to 79.68 % due to the effects of the pandemic.“We thank our members for their efforts to meet their Pag-IBIG home loan repayment obligations. This shows their growing appreciation that their timely payments allow us to continue to fund the loans of other members who want their own home loans. And as we all continue to recover from the pandemic, we will continue to work hard to keep our collections strong and our PLR high. This will allow us not only to meet the needs of our members for loans, but also to keep our interest rates low, despite the upward trend in the market. This is all part of our commitment to Lingkod Pag-IBIG to provide affordable home loans to every Filipino worker.” Acosta added.