Short LCMP Power Point Presentation as of May 13, 2013

7/29/2019 Short LCMP Power Point Presentation as of May 13, 2013

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Created by Executive Order No. 272 (20 January 2004)

Ma. Ana R. Oliveros President

Eduardo T. Manicio Executive Vice President

Wholly-owned subsidiary of the National Home MortgageFinance Corporation

Mandated: To undertake Social Housing Programs forinformal and formal sectors in the lowincome bracket.

To administer the Community MortgageProgram (CMP) and Abot-Kaya PabahayFund (Amortization Support Program and

Developmental Loan Financing

SHFC MANDATES

Social Housing Finance Corporationa subsidiary of National Home Mortgage Finance Corporation


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WHAT IS THE CMP?

The Community Mortgage Program (CMP)utilizes an innovative system of mortgage

financing whereby an undivided tract of landmay be acquired by several beneficiariesthrough the concept of community ownershipfor subsequent individualization of the mothertitle under the name of the member-

beneficiaries.



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Interest rate: 6% per annum

Maximum term: 25 years payable in equal monthly

payments Loan Repayment: one (1) month after the release of

the loan proceeds

LOAN DETAILS

AMOUNT

PURPOSE Metro Manila/HUA

Other Areas

Lot Acquisition P 90,000.00 P 60,000.00

Monthly Amortization(Inclusive of MRI)

P616.77 P411.18



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Localized

Community Mortgage

Program

Social HousingFinance Corporation

Local GovernmentUnit (LGU)



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WHAT IS THE RATIONALE OF THE LCMP? The LCMP seeks to contribute to the fulfillment of

the LGUs mandate (per RA 7160 and RA 7279) ofimplementing a comprehensive and continuing

urban development program and uplift theconditions of the underprivileged and the homelessin their respective localities.

The LCMP will serve as a vehicle that will enable theLGUs to maximize the utilization of their limitedhousing budget, with SHFC providing an additionalfunding equivalent to 75% - 90% of the projectcost thereby increasing their budget utilization tofour times to ten times (4x 10x) the originalamount.



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WHATIS THE LCMP? Qualified partner-LGUs may apply for an Omnibus

Commitment Line (OCL) with a one (1) year validity fromdate of approval made available by SHFC based on projectsidentified by the partner-LGUs.

The OCL shall not exceed P50,000,000.00 per LGU.

The projects that may be enrolled under the partner LGUsOCL shall be as follows:> On-site projects for the purpose of acquiring the land

occupied by their informal settlers; or

> Off-site projects

for the purpose of acquiring anddeveloping the land where informal settlers(covered by court eviction order, residing indanger zones, or voluntary transfer of one orseveral communities from the locality) will be

relocated through the concept of communityownership



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As partners in this undertaking, the SHFC will have a

75% - 90% share in the project cost while theequity required from the partner-LGU are as follows:

- Twenty-five percent (25%) of the project costfor 1st to 4th class cities; or

- Ten percent (10%) of the project cost for 5th and6th class cities and all municipalities

The equity of the LGU in the project cost can come inany of the following form:

- Land owned by the partner-LGU to serve as siteof the project;

Cash financing to pay-off the lot price (privatelyowned land); or

- Site Development



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Performs all pre take-out functions in accordance with SHFC policies

and guidelines as follows:

Accreditation of Non-Government Organizations/Private

Organizations (POs) as CMP Mobilizers; Background Investigation of CA, Site Inspection and Appraisal of

Project(s);

Loan examination; and

Mortgage examination

SHFC shall train the LGU Housing Unit personnel in the conduct of theforgoing activities. To ensure the capability build-up , the LGU shallbe assisted by SHFC in the processing of the first two (2) projects.

Assists SHFC in its post take-out intensified collection of monthlyamortization and also assists the CAs in the individualization ofcommunity loan and title consistent with the existing SHFC CMPguidelines


WHAT ARE THE ROLES OF THE PARTNER-LGU?


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Partner-LGULandowner

(private or LGU)Community

Association

CMP Mobilizer/s (NGO, PO,

GA or KSA)

Social Housing Finance

Corp. (SHFC)

PaysLandowner

Collecting Bank (LBP)

or to SHFC

AssistCA

(Process Loan and

Mortgage Documents)

PROCESS FLOWIdentify the LCMP

Projects

Accredits CMP

Mobilizer/s


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WHAT ARE THE LGU BENEFITS FROM THELCMP? Early turn-around of LGU funded housing projects

The LGU shall be entitled to 1/6 of actual amount ofinterest collected from the CA monthly loanamortization as incentive for collection servicesrendered if Collection Efficiency Rating (CER) of the

project reaches 90-100% rating, provided further thatthey have assisted SHFC in its collection campaign.The 1/6 interest incentive shall however be releasedonly after the issuance of post-audit clearances fromSHFC.



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SAMPLE COMPUTATION 1/6 of interest collected from the CAs

monthly amortization

(accumulated during the term of the loan)

Php 50million = Php 7.4million



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ACCREDITED LGUs

1. Island Garden City of Samal 13. Kidapawan City

2. Naga City 14. Silay City

3. Talisay City, Cebu 15. Calamba City

4. Lucena City, Quezon 16. Tacloban City5. Talavera, Nueva Ecija 17. Panabo City

6. Davao City 18. Gingoog City

7. Malolos City, Bulacan 19. Cadiz City

8. Pagbilao, Quezon 20. Catbalogan City9. Puerto Princesa City 21. Banaybanay, Davao Oriental

10. Tarlac City 22. Butuan City

11. La Paz, Tarlac 23. Bacolod City

12. Mati City



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PROJECTS ENROLLED

Particulars No of

Projects

No. of

Beneficiaries

Loan Amount

Taken-out 16 985 P27,441,212.61

For Take-out 2 125 2,740,000.00

With OCL 45 4,924 P182,465,905.97

TOTAL 63 6,034 P212,647,118.58



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CONTACT USSHFC Corporate Office:

5F BDO Plaza, Paseo de Roxas Avenue, Makati CityTel. no. (02) 7506337 loc. 120

http://www.shfcph.com

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