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Circular 293: Pag-IBIG Group Housing Loan Program

Procedural Flow
LGU

Pag-IBIG Fund

A. Loan Processing

Receives documents from LGU


Conducts the following:
- Market Evaluation
- Technical Evaluation of the proposed project
- Financial Evaluation that includes evaluation of
the submitted Cashflow Projection. Determines
loan amount based on project need but not to
exceed P20M per phase.

Applies for Developmental Loan Program


Submit documents required to Pag-IBIG
Fund
NHA to provide technical
assistance such as preparation of
plans, designs, specifications and
estimates
HLURB to provide assistance
through issuance of the necessary
permits and licenses.

Endorses the project to Senior Management


Committee (SMC) for approval / Board of
Trustees (BOT) for information
If the project is approved, sends Notice of
Approval (NOA) to the LGU
If project is disapproved, sends Notice of
Disapproval to LGU

Receives requirements in compliance


conditions prior to Signing of Agreements

to

Prepares LA and ATOP w/ REM


Transmits LA and ATOP w/ REM to LGU for
signature and notarial
Receives NOA, which will be used in the
certification of the Municipal/City/Provincial
Treasurer on Availability of Funds. Upon
Receives and sign LA and ATOP w/ REM
receipt of the NOA, the LGU proceeds with
procurement
of a w/
developer/JV
the
Annotates
the ATOP
REM on thepartner
TCT
or
contractor
and
in
the
execution
of
JV
in favor of HDMF
Agreement or Construction Agreement.
Submits to HDMF Notarized copy of
Submit
to HDMF
requirements
in
Agreements
and the
Owner duplicate
of
compliance
to the the
conditions
on the the
the TCT covering
project securing
approval
of the loan prior to signing, if any
loan

Receives notarized copy of the LA and ATOP w/


REM and the TCT with mortgage duly annotated
thereon.

LGU

Pag-IBIG Fund

B. Loan Release

Receives NOB from LGU


Conducts site inspection
Determines if utilization requirement has been
met on previous loan release
Determines amount for release based on
Cashflow projection
Prepares Collateral Analysis
Submit Notice of Borrowing (NOB) to
HDMF

Prepares Promissory Note (PN)


Forwards PN to LGU for signature

Receives PN and copy of proof of Doc Stamp


payment
Process Request for Payment and DV / Check
Releases Check to LGU
Receives PN from HDMF

Receives OR from LGU

Signs PN
Submits notarized PN together with
proof of Doc Stamp payment to HDMF
Note:
If the LGU will hire the services of a private contractor, HDMF will conduct the following on the
contractor:
1. Financial Statement Analysis on its financial position and result of operation for the last three (3)
years.
2. Track record on housing development
3. Credit worthiness with Banks and Suppliers
4. Verification with SEC, BIR, BOA, RTC, HLURB