Pag-IBIG performing loans ratio hits 90%

Pag-IBIG Fund reached a 90.12 percent performing loans ratio (PLR) in 2017, the agency’s highest ever in its 37-year history. This feat was sustained in the first quarter in which it recorded a 90.4 percent PLR.

The high PLR shows that nine out of 10 of Pag-IBIG Fund’s housing borrowers regularly paid their monthly home loan amortizations, reinforcing the agency’s sustainability.

“PLR is one of the barometers of Pag-IBIG Fund’s sustainability. If our home loan borrowers regularly pay their monthly amortizations, our liquidity improves and we can plow the funds back to our housing portfolio so that more members, especially those with low income, can avail of home loan. This supports President Duterte’s social protection agenda. It also aligns with the main objective of BALAI Filipino (Building Adequate, Livable, Affordable and Inclusive Filipino Communities) program – to provide decent shelter for every Filipino family,” Housing and Urban Development Coordinating Council and Pag-IBIG Fund chairperson Eduardo del Rosario said.

Pag-IBIG Fund generated P51.6 billion in housing collections in 2017, including collections from the sale of Real and Other Properties Acquired (ROPA) – an increase of nine percent from the amount collected in 2016. This amount is also 13 percent above the collection target for 2017 and the highest in the history of Pag-IBIG Fund.

To increase collections and improve its PLR, Pag-IBIG Fund outsourced its collection services by accrediting collection agencies starting 2013 and tele-collection companies beginning 2014.