An analysis of the National Home Mortgage Finance Corporation and the Home Development Mutual Fund
Date
1999-03-25
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Abstract
The Thesis analyzes the National Home Mortgage and Finance Corporation and the Home Development and Mutual fund, the two government agencies responsible in the financial aspect of the public sector housing in the Philippines. Through our research efforts to find out why is there such a huge backlog of housing in the Philippines, factors or reasons such as inadequate funding and inability of the homeless to avail of the many government housing programs turn up. Other factors such as population growth, poverty, zoning, and urbanization also crop up. We centered our efforts towards the financial aspect of the National Housing Program. How even with its limited and inadequate funding can the government be effective and efficient on its effort at curbing and eliminating the housing backlog of the country? Our findings and conclusion were based on the actual number of household assisted by agency through their major programs and program components through the years 1987-1997. We found out that the government can't even provide adequate funding for its ten year National Shelter Program (1987-1997). The National Shelter Program was envisioned to eliminate the huge housing backlog in the country or if not at least bring it to a manageable level. In our recommendation we highlight the need for the active participation of the private sector through Securitization of housing project. This entails the development of the primary and secondary mortgage markets in order to achieve a modern housing finance system. We also encouraged the government to refocus its participation in the housing industry to where it can effectively and efficiently maximize its resources, which is in the indirect housing finance provision.
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Keywords
Mortgage, finance