Page 441 - 2019 6th AFIS & ASMMA

cooperatives, local government units (LGUs), national government agencies
and civic organizations.
Total Amount of Purchase from 2016 to 2019 - 3,378 housing units worth
1.26 Billion PHP (as of August 1, 2019)

▧ Reverse Mortgage Program - MAginhawang BUhay dahil
sa baHAY (MABUHAY)
The first ever reverse mortgage program in the Philippines. The program is
Republic of the Philippines part of NHMFC's effort to address the needs of the senior citizens who want
to enjoy retirement. MABUHAY allows senior citizens to convert a portion
of their home equity into cash in order to address their various needs.
Total Amount of Purchase from 2016 to 2018 - 6 housing units worth 11.3
Million PHP (as of August 1, 2019)

▧ Securitization
| COMPANY |
National Home Mortgage Finance Corporation Consistent with its mandate, NHMFC buys mortgages originated by private
financial institutions and sell them to the capital market through the
issuance of mortgage-backed financial instruments.
| CEO |
A. BahayBonds 1
Felixberto U. Bustos Jr
In March 2009, NHMFC launched its maiden securitization issuance aptly named
BahayBonds. This is the first residential mortgage backed securities (RBMS) issued
in the Philippines by a government agency. This was rated AA by the Philippine
» Vision
Rating Services Corporation (PhilRatings).
By 2022, the NHMFC, as part of a unified government housing agency, shall Amount of Cumulative Issuance - 2.06 Billion PHP
be the major player in providing housing finance through the strengthening Outstanding Balance - 0.00 PHP (as of October 2016) due to early call
of the secondary mortgage market. B. BahayBonds 2
In August 2012, NHMFC issued the second of its BahayBonds series (BB2). It is the
first ever retail mortgage-backed securities (RMBS) issued in the country and was
» Main Business given a rating of PRS Aa by the PhilRatings.
Amount of Cumulative Issuance - 603 Million PHP
▧ Housing Loan Receivables Purchase Program (HLRPP)
Outstanding Balance - 261.74 Million PHP (as of February 2019); Senior Class A Session I
This program is an alternative venue for housing developers and other Notes was retired in 2017
originating institu-tions with low-cost housing projects to sell qualified
housing loan portfolio to NHMFC.
Total Amount of Purchase from 2010 to 2019 - 1,697 housing units worth
1.86 Billion PHP (as of August 1, 2019)

▧ Socialized Housing Loan Take-Out of Receivables (SHeLTeR)
The program aims to provide affordable housing program to the low-
income sector of the Philippine society. NHMFC purchase socialized
housing loan portfolio from housing developers, micro finance institutions,

442 2019 6th AFIS & ASMMA Annual Meeting 443