Latest news with #DepartmentofHumanSettlementsandUrbanDevelopment
Filipino Times
29-05-2025
- Politics
- Filipino Times
President Marcos appoints two new Cabinet officials after performance review
President Ferdinand R. Marcos Jr. has appointed two new Cabinet officials following a performance review aimed at improving government services. Engr. Jose Ramon Aliling has been sworn in as the new Secretary of the Department of Human Settlements and Urban Development (DHSUD), replacing Secretary Jose Rizalino Acuzar, who is now the Presidential Adviser for Pasig River Development. Aliling previously served as a DHSUD undersecretary, giving him familiarity with the agency's housing and urban development work. Meanwhile, Atty. Darlene Marie Berberabe has been appointed as the new Solicitor General, taking over from Atty. Menardo Guevarra. She is currently the Dean of the UP College of Law and previously served as the CEO of the Pag-IBIG Fund, a housing loan and savings program widely used by Filipinos. The appointments follow President Marcos' directive for all Cabinet members to submit courtesy resignations as part of an overall assessment to improve government efficiency and responsiveness. 'I don't do things for optics. If there is a problem, I like to fix it… expect us to be doing a rigorous performance review, not only at the Cabinet level, but even deeper,' Marcos said during the recent ASEAN Summit in Malaysia. Executive Secretary Lucas Bersamin confirmed that while two resignations have been accepted, the President has kept his economic team and retained Bersamin as executive secretary.
Filipino Times
21-05-2025
- Business
- Filipino Times
Pag-IBIG Fund Home Loan releases reach P30B in first quarter of 2025
Pag-IBIG Fund released P30.22 billion in home loans from January to March 2025, an 8 percent increase—or more than P2 billion higher—than the P28.09 billion disbursed during the same period in 2024, officials announced Wednesday, May 21. 'The strong performance of Pag-IBIG Fund in the first quarter underscores its continued commitment to providing affordable housing opportunities for Filipino families,' said Department of Human Settlements and Urban Development Secretary Jose Rizalino L. Acuzar, who also chairs the 11-member Pag-IBIG Fund Board of Trustees. 'As we sustain progress in home financing alongside the growing momentum of the Pambansang Pabahay para sa Pilipino (4PH) Program, we heed President Ferdinand R. Marcos Jr.'s call to uplift the lives of our fellow Filipinos by ensuring access to dignified shelter.' Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, meanwhile, said the loan releases helped 20,315 members acquire their own homes during the first three months of the year. Acosta also highlighted Pag-IBIG Fund's vital support for the government's flagship 4PH Program, through which the agency provides financing to developers, contractors and local government units to build housing projects, as well as to individual buyers of 4PH units. In the first quarter alone, the agency released P987.91 million under the program, benefitting 669 members and their families who now own homes. 'We are grateful to our members and stakeholders for their continued trust and support in our programs,' Acosta said. 'Our performance in the home loan front demonstrates not only our financial strength, but also our unwavering commitment to make homeownership more accessible for Filipino workers. Pag-IBIG Fund remains focused on providing affordable and reliable housing programs that help build stable and dignified lives for our members.'
Filipino Times
23-04-2025
- Business
- Filipino Times
Pag-IBIG Fund offers cash prizes to MPL borrowers, company representatives in new promos for 2025
Pag-IBIG Fund has launched two new raffle promos aimed at increasing members' awareness of the benefits and favorable terms of the Pag-IBIG Multi-Purpose Loan (Pag-IBIG MPL), while encouraging greater employer engagement — further strengthening its efforts to provide timely financial support to members nationwide. As part of its initiatives to assist more Filipino workers in addressing their immediate financial needs through the Pag-IBIG MPL, the agency introduced the 'Loan to Win!' and 'Hatid Pana-Loan!' raffle promos, which offer cash prizes as additional incentives for borrowers and employer representatives. 'In 2024 alone, our Pag-IBIG MPL program assisted more than 3 million members with over ₱70 billion in cash loans. This highlights the Pag-IBIG MPL's role as a dependable source of financial assistance for Filipino workers in times of need,' said Secretary Jose Rizalino L. Acuzar, head of the Department of Human Settlements and Urban Development and chairperson of the 11-member Pag-IBIG Fund Board of Trustees. 'In line with President Marcos' directive to provide accessible and affordable financial services to our citizens, we are launching these promos to assist even more members while recognizing the efforts of employer representatives who actively support their employees' loan applications,' Acuzar added. Running from April to December 2025, the 'Loan to Win!' raffle promo gives Pag-IBIG members with an approved Pag-IBIG MPL a chance to win cash prizes. Each approved loan during the promo period automatically earns one raffle entry, with bonus entries awarded to first-time Pag-IBIG MPL borrowers, applications submitted via Virtual Pag-IBIG for Employers, or loans worth ₱50,000 or more. Over 250 winners will be selected in preliminary draws, leading up to a grand prize of ₱50,000. Meanwhile, the 'Hatid Pana-Loan!' raffle promo rewards Fund Coordinators and Employer Representatives who actively help employees secure a Pag-IBIG MPL. Employer representatives earn one raffle entry for every five approved Pag-IBIG MPL applications they facilitate, with additional entries awarded for applications from first-time borrowers or those submitted via Virtual Pag-IBIG for Employers. Winners in this promo also stand a chance to receive cash prizes, including a grand prize of ₱50,000. Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta expressed confidence that the raffle promos will help even more members benefit from the Pag-IBIG MPL, especially by making them more aware of the program's affordability and friendly payment terms. 'Through these raffle promos, we hope to empower our Fund Coordinators, Employer Representatives, and especially our members by highlighting the affordability and convenience offered by the Pag-IBIG MPL,' Acosta said. 'More than just rewards, these initiatives emphasize that the Pag-IBIG MPL is a practical and reliable financial lifeline that benefits members directly. Every loan availed generates earnings for Pag-IBIG Fund, contributing to higher dividends for our members. Simply put, when members borrow from Pag-IBIG Fund, their repayments ultimately benefit them through dividends,' she added. For complete promo mechanics and draw schedules, visit: · Loan to Win: Hatid Pana-Loan: Members may also follow the official Pag-IBIG Fund Facebook page for updates.
Filipino Times
26-03-2025
- Business
- Filipino Times
Benhur Abalos pushes for affordable homes for OFWs abroad
Former Mayor of Mandaluyong City and former Interior Secretary Atty. Benhur Abalos Jr. is advocating for a housing program that will make it easier for Filipino workers abroad to own homes when they return to the Philippines. During his recent visit to Singapore, Abalos engaged with Filipino workers, discussing their challenges, particularly in securing affordable housing upon their return. Abalos said he recently spoke with Secretary Jerry Acuzar of the Department of Human Settlements and Urban Development (DHSUD) to propose reserving a portion of government housing projects exclusively for OFWs. As of the latest records, there are an estimated 2.16 million registered OFWs. Last year, personal remittances from OFWs hit an all-time high of over USD38 billion. Abalos emphasized the vital role Filipino workers play in the Philippines' economy, particularly through their remittances. However, he noted that despite their financial contributions, many returning workers struggle to afford homes. Abalos suggested offering OFWs the opportunity to pay for their homes through affordable installment plans. He also underscored that housing initiatives in the Philippines should benefit not only local residents but also overseas workers. In 2023, Abalos attended the Philippine Property and Investment Exhibition (PPIE), the biggest, longest-running, and most trusted Philippine investment event in the Middle East. During the event, he discussed the government's efforts to promote transparency, good governance, and ease of doing business, aiming to create a better environment for investors and property buyers, including Filipino workers looking for housing opportunities.
Filipino Times
27-02-2025
- Business
- Filipino Times
Pag-IBIG Fund announces record P55.65B dividend in 2024; Regular savings earn 6.6%, MP2 yields 7.1%
Pag-IBIG Fund declared the highest-ever amount of dividends for its members' savings at the Chairman's Report 2024 held Thursday at the Philippine International Convention Center. For 2024, Pag-IBIG Fund reported ₱55.65 billion in total dividends, marking the largest payout in the agency's 44-year history. As a result, the dividend rates for the Regular Savings climbed to 6.6%, while the agency's popular Modified Pag-IBIG 2 (MP2) Savings rate rose to 7.1%. 'For nearly five decades now, this institution has empowered individuals and families to find, acquire, and build the homes they aspire for—all in a system founded on trust, integrity, and shared opportunity,' President Ferdinand R. Marcos Jr. said in a message. 'This Chairman's Report 2024 stands as proof of how your unwavering commitment has grown the contributions entrusted to your care, enabling every hardworking Filipino to achieve their dream homes. Let us remain steadfast in creating a strong, secure, and inclusive Pag-IBIG Fund that uplifts communities and ensures no Filipino is left behind in this era of Bagong Pilipinas.' Pag-IBIG Fund recorded another banner year, with its 2024 net income reaching ₱67.52 billion—a 36% increase from ₱49.79 billion in 2023. The agency also surpassed the ₱ 1 trillion mark in total assets, closing the year at ₱1.069 trillion, another all-time high. Department of Human Settlements and Urban Development Secretary Jose Rizalino Acuzar, who chairs the 11-member Pag-IBIG Fund Board of Trustees, underscored the agency's outstanding performance and robust financial standing. 'Pag-IBIG Fund has once again marked 2024 as one of its best-performing years, achieving record highs in both total assets and net income. This accomplishment directly benefits our members, as we declared ₱55.65 billion in dividends—equivalent to 82.71% of our net income, exceeding the 70% dividend requirement by law,' Acuzar said. 'With our strong performance, sound investments, and robust finances, we are well-equipped to continue providing our members with responsive benefits, and advance our efforts under the Pambansang Pabahay para sa Pilipino Program, ensuring that more Filipino workers can access affordable homes.' Meanwhile, Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta highlighted the agency's record-setting performance in 2024. She noted that Pag-IBIG released ₱129.73 billion in home loans, helping 90,640 members acquire new or better homes. The agency also collected a total of ₱132.81 billion in membership savings—₱73.74 billion of which were voluntarily saved under Upgraded and MP2 Savings—and disbursed ₱70.33 billion in cash loans to assist more than 3.2 million members. 'Truly, when Pag-IBIG Fund performs well, our members benefit the most,' Acosta said. 'We take great pride in our record-high achievements in 2024, which reflect our commitment to helping members achieve their dream of homeownership, find relief in trying times, and save for a brighter future. We remain steadfast in safeguarding our members' contributions and ensuring they yield the best possible returns—because our members deserve nothing less than the highest level of public service and the most prudent stewardship of their hard-earned savings.'
