ILS e-Newsletter for December 2021
NEDA6 CP 2021
Infrastructure Attracts: The Case of Iloilo City's Cycling Infrastructure
DP 2022-01
Exploring Policies and Initiatives for Online Workers in the Philippines
NEDA 7 COVID-19 RRP 2020-2022
Central Visayas COVID-19 Regional Recovery Program 2020-2022

PIDS WB 2021-1201
Analyzing the President's Budget for 2022
WASHaLOT 3.0: Production Process
WASHaLOT 3.0 Mass Production
Minimum Requirement Guidelines on WASH in Schools
Publication Detail
PN 2013-20: Strengthening Mortgage-Backed Securitization in the Philippines: The Role of the National Housing Mortgage Finance Corporation (NHMFC)

With stricter risk management for banks and financial institutions and the need to address the housing gap of nearly three million units annually, strategies that will provide long-term funds and expand home finance specifically to the low- and moderate-income households are essential to ensure the sustainability of housing finance. One potential option is to develop mortgage-backed securitization to strengthen the private securities market and the capital market.

This Policy Note discusses the role of the National Home Mortgage Finance Corporation (NHMFC) in developing securitization in the country. The NHMFC is the major government corporation created to operate as a secondary mortgage institution but this mandate has not been fully implemented in the past 30 years as NHMFC operations have been diverted to loan origination. With the approval of the Securitization Act of 2004 and improvements in the financial sector, opportunities to engage in securitization have opened up. The NHMFC has taken this opportunity to undertake securitization as a strategy to expand home finance.

Philippine Institute for Development Studies
Authors Keywords
Ballesteros, Marife M.; Dulay, Daisy S.; housing finance; Philippines; mortgage-backed securitization; National Home Mortgage Finance Corporation (NHMFC);
Download PDF Number of Downloads
Published in 2013 and available in the PIDS Library or Downloaded 1,453 times since December 26, 2013
Please let us know your reason for downloading this publication. May we also ask you to provide additional information that will help us serve you better? Rest assured that your answers will not be shared with any outside parties. It will take you only two minutes to complete the survey. You will answer the profile questions only once as long as you enter the same email address. Thank you.

To use as reference:
If others, (Please specify):
Name: (optional)
Email: (required, but will not display; please use the same email address when downloading another publication so that the profile questions will not appear)
If Prefer to self-describe, please specify:
Level of Education:
If employed either part-time or full-time, name of office:
If others, (Please specify):
Would you like to receive the SERP-P UPDATES e-newsletter? Yes No
Use the space below if you have any comment about this publication or SERP-P knowledge resources in general.