Pag-ibig as­sures part­ner de­vel­op­ers are com­pli­ant

Sun.Star Davao - - BUSINESS -

PAG-IBIG Fund as­sures their hous­ing loan bor­row­ers and mem­bers that their part­ner-de­vel­op­ers are fully com­pli­ant of Pag-ibig Fund’s rules and reg­u­la­tions and that they are reg­u­larly mon­i­tored of any non­com­pli­ance or client com­plaint that may oc­cur.

“Al­though the busi­ness of Pag-ibig Fund is into lend­ing, we have also in place var­i­ous checks and bal­ances to en­sure that the hous­ing units that will be de­liv­ered for take­out or fi­nanc­ing with Pag-ibig Fund are fully com­pli­ant with the build­ing code among other things,” said Chief Ex­ec­u­tive Of­fi­cer Ac­mad Rizaldy Moti.

He also said Pag-ibig Fund checks the units of their part­ner-de­vel­op­ers that are be­ing de­liv­ered to the mem­bers. In the event that a non-com­pli­ance in­ci­dent is re­ported, Moti said there will be no take­out. They as­sess the units through the Qual­ity Units Ra­tio (QUR) which may cause ter­mi­na­tion of the part­ner-de­vel­oper’s ac­cred­i­ta­tion if the QUR had been de­creas­ing.

Moti said de­vel­op­ers have a war­ranty of about 20 years for struc­tural, build­ing qual­ity, and work­man­ship re­lated con­cerns. How­ever for typ­i­cal com­plaints such as leaks and door clo­sure prob­lems, a war­ranty of a year is given.

“Our de­vel­op­ers are obliged to ad­dress those prob­lems even those drainage prob­lems. We check those and we track them. We record them and they are be­ing taken for and against the de­vel­op­ers. If the qual­ity of units would go down, the ac­cred­i­ta­tion could suf­fer. It might be ter­mi­nated caus­ing him no fi­nan­cial line with Pag-ibig Fund any­more,” said Moti.

He said af­ter the case with Globe Asi­a­tique scam a few years ago, they had black­listed a few other de­vel­op­ers that are now pro­hib­ited to trans­act with Pag-ibig Fund. What re­mains now, ac­cord­ing to Moti, are good part­ner-de­vel­op­ers which they are try­ing hard to work hand in hand to con­tinue the co­op­er­a­tion.

“Luck­ily, for Davao Re­gion there has yet to be case of black­list­ing. The de­vel­op­ers are good. Most of our pre­vi­ous cases are in Cen­tral Lu­zon. Even if the clients were not able to com­plain, we can still track and mon­i­tor their col­lec­tion ef­fi­ciency. If there’s fraud, usu­ally they don’t pay con­sis­tently. We can pin­point the project and the de­vel­oper,” he said.

Newspapers in English

Newspapers from Philippines

© PressReader. All rights reserved.