1.

HOUSING AND URBAN DEVELOPMENT

COORDINATING COUNCIL (HUDCC)
            
The Housing and Urban Development Coordinating Council (HUDCC) was
created by then President Corazon C. Aquino by virtue of Executive Order No. 90 dated
17 December 1986.  The EO, which also abolished the Ministry of Human Settlements,
placed HUDCC under the direct supervision of the Office of the President to serve as
the highest policy making body for housing and coordinate the activities of the key
housing agencies to ensure the accomplishment of the Government Shelter Program.

           On 25 May 1989 and May 28, 2001 , Executive Order No. 357 and Executive
Order No. 20 were issued respectively, to strengthen HUDCC into department level
organization by conferring it with the power to exercise overall administrative
supervision over the key housing agencies; set and ensure the attainment of targets
and objectives for the housing sector; review the organization, programs and projects of
the key housing agencies; decentralize its operations and enlist the assistance of the
Department of Budget and Management in securing continuing funding support to the
National Shelter program.

In 1992, the Urban Development and Housing Act (RA 7279) mandated the
HUDCC to direct the formulation of a National Urban Development and Housing
Framework in coordination with the Local Government Units and other public and
private sector agencies; design of a system for the registration qualified socialized
housing beneficiaries and inventory of land suitable for socialized housing; and provide,
through its attached housing agencies,  the LGUs with support for the preparation of
town and land use plans, data for forward planning and investment programming, and
assistance in obtaining funds and other resources for housing and urban development.

From 1986 to present, there are several executive and legislative issuances
including the three laws mentioned above, that provide or authorize HUDCC with
specific functions and/or require it to undertake certain tasks related to housing and
urban development. These legal and legislative fiats assigned duties and
responsibilities to HUDCC that are related to its original mandate as the lead agency in
housing and urban development

COUNCIL FUNCTIONS

The HUDCC Council has the following powers and functions:

 To formulate national objectives for housing and urban development and to

design broad strategies for the accomplishment of these objectives;

 To determine the participation and coordinate the activities of the

key government housing agencies in the national housing program;
  To monitor, review and evaluate the effective exercise by these agencies of their
assigned functions;

 To assist in the maximum participation of the private sector in all aspects of

housing and urban development;

 To recommend new legislation and amendments to existing laws as may be

necessary for the attainment of government’s objectives in housing;

 To formulate the basic policies, guidelines and implementing mechanisms for the

disposal or development of acquired or existing assets of the key housing
agencies which are not required for the accomplishment of their basic mandates;
and

 To exercise or perform such other powers and functions as may be deemed

necessary, proper or incidental to the attainment of its purpose and objectives.

COUNCIL COMPOSITION

The Council is chaired by the HUDCC Chairman, with the following as members:

 Key Housing Agencies: National Housing Authority (NHA),  National Home

Mortgage Finance Corporation (NHMFC), Social Housing Finance Corporation
(SHFC), Home Guaranty Corporation (HGC), and Housing and Land Use
Regulatory Board (HLURB);

 Key Finance Agencies: Home Development Mutual Fund (HDMF or Pag-IBIG

Fund), Social Security System (SSS), and Government Service Insurance
System (GSIS);

 Support Agencies: National Economic and Development Authority (NEDA),

Department of Finance (DOF), Department of Budget and Management (DBM),
Department of Public Works and Highways (DPWH), Development Bank of the
Philippines (DBP), Metro Manila Development Authority (MMDA), and
Presidential Management Staff (PMS); and

 Two representatives from the Private Sector representing any of the following
groups:  developers, bankers, contractors, professionals, and low-income
beneficiaries.  At present, the private sector is represented by the following real
estate developers engaged in low-cost housing with extensive experience in real
estate development:

 MGen. Rufo De Veyra

 Engr. Marcelino Mendoza
The HUDC Council is supported by the Secretariat, which is headed by a Secretary–
General.  The Secretary-General is an ex-officio member of the Council and is
responsible for the execution and administration of its approved policies and measures.

MANDATES

The Housing and Urban Development Coordinating Council (HUDCC),

under the immediate control and supervision of the President of the
Philippines, is charged with main function of coordinating the activities of
the government housing agencies to ensure the accomplishment of the
National Shelter Program.

Formulate national objectives for housing and urban development and to

design broad strategies for accomplishment of these objectives;

Determine the participation and coordinate the activities of the key

government housing agencies in the national housing program;

Monitor, review and evaluate the effective exercise by these agencies of

their assigned functions;

Assist in the maximum participation of the private sector in all aspects of

housing and urban development;

Recommend new legislation and amendments to existing laws as may be

necessary for the attainment of government’s objective in housing;

Formulate the basic policies, guidelines and implementing mechanisms for

the disposal or development of acquired or existing assets of the key
housing agencies;

Exercise or perform other powers and functions as may be deemed

necessary, proper or incidental to the attainment of its purpose and
objectives.

- Section 3. Executive Order No. 90 Series of 1986

Reaffirming mass housing as a centerpiece program in the poverty

alleviation efforts of the government and further strengthening the Housing
and Urban Development Coordinating Council

Serves as the lead agency to in formulating the national objectives,

policies and strategies for housing and urban development;

Coordinate and monitor the activities of all government agencies

undertaking housing projects, including those of Local Government Units
 (LGUs), to ensure the accomplishment of the goals of the government’s
housing program;

Encourage the maximum participation of the private sector in all aspects

of housing and urban development;

Formulate the basic policies, guidelines and implementing mechanisms for

the disposal or development of acquired or existing assets of the key
housing agencies which are not required for the accomplishment of their
basic mandates;

Identify, plan and secure local and foreign funding for housing programs
and projects;

Provide directions to the Housing and Land Use Regulatory Board

(HLURB) to ensure rational land use for the equitable distribution and
enjoyment of development benefits.

Recommend new legislation and amendments to existing laws as maybe

necessary for the attainment of government’s objectives in housing;

Undertake other functions as provided by existing laws that are not

contrary to the above-mentioned.

- Executive Order No. 20 Series of 2001

2. NATIONAL HOUSING AUTHORITY (NHA)

The National Housing Authority (NHA) is the sole national agency mandated to
engage in housing production for low income families. It traces its roots to the People’s
Homesite Corporation (PHC), the first government housing agency established on 14
October 1938 and to the National Housing Commission (NHC) which was created
seven years later, on 17 September 1945. These two agencies, the PHC and NHC,
were eventually merged on 4 October 1947 into the People’s Homesite and Housing
Corporation (PHHC).

          In the years that followed, six (6) more housing agencies were created to respond
to separate and distinct shelter requirements, namely: the Presidential Assistant on
Housing and Resettlement Agency (PAHRA); the Tondo Foreshore Development
Authority (TFDA); the Central Institute for the Training and Relocation of Urban
Squatters (CITRUS); the Presidential Committee for Housing and Urban Resettlement
(PRECHUR); the Sapang Palay Development Committee (SPDC); the Inter-Agency
task Force to Undertake the Relocation of Families in Barrio Nabacaan, Villanueva,
Misamis Oriental.
          Eventually, on 15 October 1975, the National Housing Authority was organized as
a government-owned and controlled corporation, by virtue of Presidential Decree No.
757 dated 31 July 1975. All other housing agencies were abolished by the said decree.
The NHA took over and integrated the functions of the abolished agencies- the PHHC
and the six (6) other housing agencies. The creation of the NHA is the second attempt
of the government to integrated all housing efforts under a single agency, twenty-eight
years after the merger under the PHHC.

     Three years later, the Ministry of Human Settlements (MHS) was created in 1978.
The Ministry adopted the holistic approach to housing. the NHA was placed as an
attached agency to the MHS.

          On 26 March 1986, Executive Order NO. 10 was issued placing the NHA as well
as the other agencies attached to the abolished MSH, under the administrative
supervision of the office of the President. Subsequently, Executive Order No. 90 was
issued on 17 December 1986, rationalizing the housing structure in the government
along lines of specialization and concentration. EO 90 identified the key housing
agencies to implement the National Shelter Program and defined their respective
mandates. The NHA was mandated to be the sole government agency to engage in
housing production. Under the said Executive Order, NHA was placed under the policy
and program supervision of the Housing and Urban Development Coordinating Council
(HUDCC), the umbrella agency for shelter charged with the main function of
coordination the activities of various government housing agencies engaged in
production, finance and regulation.

          Executive Order No. 20 on 28 May 2001 reaffirmed mass housing as a

centerpiece program in the poverty alleviation efforts of government. Said EO likewise
reaffirmed HUDCC’s administrative supervision over the housing agencies including the
NHA.

         On 14 February 2019, Republic Act (RA) 11201 was issued creating the
Department of Human Settlement and Urban Development (DHSUD), under section 50
of said RA 11201 Executive Order (EO) 90 was released placing NHA and other
attached agencies and corporation under the administrative supervision for purposes of
policy and program coordination, monitoring and evaluation. NHA shall continue to
function as a production and financing arm in housing and shall exercise all other
functions based on its existing laws.

MANDATES

NHA was tasked to develop and implement a comprehensive and integrated housing
program which shall embrace, among others, housing development and resettlement,
sources and schemes of financing, and delineation of government and private sector
participation.

Under EO 90 dated 17 December 1986

NHA was mandated as the sole national government agency to engage in shelter
production focusing on the housing needs of the lowest 30% of the urban population.

Under RA 7279 (UDHA) dated 24 March 1992

NHA was tasked to provide technical and other forms of assistance to local government
units (LGUs) in the implementation of their housing programs; to undertake
identification, acquisition, and disposition of lands for socialized housing; and to
undertake relocation and resettlement of families with local government units.

Under RA 7835 (CISFA) dated 08 December 1994

NHA was tasked with the implementation of the following components of the National
Shelter Program – the Resettlement Program, Medium Rise Public and Private
Housing, Cost Recoverable Programs and the Local Housing Program.

Under EO 195 dated 31 December 1999

NHA was mandated to focus on socialized housing through the development and
implementation of comprehensive and integrated housing development and
resettlement; fast-tracking the determination and development of government lands
suitable for housing; and ensuring the sustainability of socialized housing funds by
improving its collection efficiency, among others.

Under RA 11201 dated February 14, 2019

NHA shall continue its function as a production and financing arm in housing and shall
exercise all other functions based on its existing charter and its other mandates as
provided under existing laws despite repealing EO 90.

3. NATIONAL HOME MORTGAGE FINANCE

CORPORATION (NHMFC)
The National Home Mortgage Finance Corporation was created in 1977 by virtue
of Presidential Decree 1267, with the mandate of increasing the availability of affordable
housing loans to finance the Filipino homebuyer's on their acquisition of housing units
through the development and operation of a secondary market for home mortgages.
Consistent with this mandate NHMFC bought mortgages originated by private financial
institutions and eventually sold them back to the public through the issuance of
mortgage backed financial instruments.
However, the financial crisis which hit the country in 1984 up to the early part of 1986
caused the collapse of a relatively successful home-financing program of the
government. Since a sizeable portion of NHMFC funds came from the financial market,
with addition to funds coming from contributions of PAG-IBIG members, the 30% to
40% interest rates of the financial market made it impossible for NHMFC (whose
lending rate was pegged at 9%) to operate viably.
With the assumption into office of the Aquino Administration in 1986, there was already
a felt need to reorganize the government housing agencies and define their new
mandates. Executive Order No. 90 on December 17, 1986, gave fresh mandates to the
five housing agencies, NHMFC included. As the major government home mortgage
institution, NHMFC was tasked to operate a viable home mortgage market, utilizing
long-term funds principally provided by the Social Security System (SSS), the
Government Services Insurance System (GSIS), and the Home Development Mutual
Fund (HDMF), to purchase mortgages originated by both private and public institutions
that are within government-approved guidelines. It was also charged with the
development of a system that will attract private institutional funds into long-term
housing mortgages.
In view of the above, NHMFC clientele was expanded to include among others,
borrower/members of SSS and GSIS (in addition to PAG-IBIG members), and even
non-members of these institutions, as well as developers of low-cost housing projects.
Other qualified originators were added: private developers, government agencies,
community associations, local government units and non-government organizations,
together with private financial institutions.
Until 1995, NHMFC was operating under the Executive Order No.90 mandate, but
ceased to do so with the signing of a Memorandum of Agreement on Housing Finance
with the Department of Finance, Department of Budget and Management, and the
Funders (SSS, GSIS & HDMF) which transferred the processing and payment of
mortgages to HDMF in 1996.
Despite the suspension of the UHLP, the Corporation continuously administered the
Community Mortgage Program (CMP) that was amended under R.A. 7279 - UDHA of
1992. Further, the Abot-Kaya Pabahay Fund Program, which was created under R.A.
6486 in 1990 remained under administration of NHFMC. In December 1994, R.A 7835
(or the CISFA 1995) was enacted into law and further amended R.A. 6846 that provided
for the continuing funding support for the CMP and the Abot-Kaya Pabahay Fund
Program. The economic slowdown of 1998 took its toll in the asset recovery program of
NHMFC. The Corporation continuously failed to register positive financial marks. Early
on the Estrada Administration, a memorandum dated May 20, 1999 from the President
addressed to HUDCC, DOF, DBM and SEC was issued, constituting them into a Task
Force to prepare the appropriate disposition plan for NHMFC.
Then President Estrada issued Executive Order 195 dated December 31, 1999 directing
all government-owned and controlled corporations under the HUDCC and the
Presidential Commission on Mass Housing (PCHM) to prepare their respective
Rationalizing and Streamlining Plans. The E.O also mandated to re-direct NHMFC
operations to the development and provision of a secondary mortgage market to finance
mortgage take-out and fast track the disposition of existing mortgages. The E. O.
provided the President policy direction with respect to NHMFC.
In the 1st quarter of 2002, as part of an overall rehab program, NHMFC hired
Punongbayan & Araullo/Ernst & Young (P&A/E&Y) as its Financial Advisor. In the last
quarter of the same year, the Corporation undertook a Restructuring Agreement with
the Funders (SSS & HDMF) and started the processing for the Sale of the Non
Performing Loans (NPLs) of the UHLP portfolio.
After pre-qualifying potential bidders in 2003, NHMFC announced the competitive
auction sale of the NPLs after pre-qualifying potential bidders. This sale is part of a
strategy that will reposition the Corporation to meet the future affordable housing needs
of the Filipino people. This realignment process actually started during the second
quarter of 2002 with the direct involvement of Management of NHMFC, SSS, HDMF,
HUDCC & the DOF.
NHMFC realignment included the formal restructuring of its P46 B outstanding debt
balance that includes SSS and HDMF and obtaining approval from all the required
government bodies to implement its plan to dispose of the portfolio of delinquent loans.
This complex approval process required a consensus among all the parties and took
more than one year to achieve.
In June 20, 2004, Executive Order 272 authorized the creation of the Social Housing
Finance Corporation, a subsidiary of NHMFC. In June 21, 2005, SHFC was entrusted
with the Community Mortgage Program (CMP) and its amortization, as well as the
developmental component of the Abot-Kaya Pabahay Fund (AKPF) Program of
NHMFC. They have also assumed the implementation of the AKPF and CMP upon the
mandate to be leading government agency to undertake social housing programs for
the low-income earners. For more than 17 years, AKPF and CMP has become the most
affordable-long term micro finance facility that meets land tenure and housing security
requirements of the "poorest of the poor". It is recognized as the most successful
housing program for the homeless and the underprivileged sector of our society.
In September 2006, the outcome of the CMP and AKPF programs of SHFC and the
sale of its Non-performing Loans (NPLs) to Balikatan Housing Finance encouraged the
corporation the process of rationalization of its manpower structure. The Plan for
Reorganization was approved by DBM and CSC in November of 2006 and was
implemented and completed in June of 2007. The new structure helped downsized its
functions to collection and CMP programs instead of focusing on the establishment of a
Secondary Mortgage Institution.
In August 2007, Ernst & Young Transaction Advisory Services Inc. became the
Financial Advisor that assisted in the maiden securitization of the corporation and laid
the building blocks for the transformation of NHMFC into an SMI. EY TASI conducted
due diligence on the low delinquent accounts of NHMFC and assisted the corporation in
matters of finance, accounting, regulatory and legal implications of the securitization
transaction.
In August 2008, NHMFC brought on board the securitization expertise of Standard
Chartered bank as underwriter and Lead arranger for the maiden securitization issue,
along with the Trustee and Special Purpose Trust, namely, DBP and PNB respectively.
In March 23, 2009, the NHMFC launched the maiden securitization issue of the 2.06
Billion Bahay Bonds. This is the first residential mortgage backed securities (RBMS)
issued in the Philippines by a government agency. The Bahay Bonds Maiden Issue took
place at the height of the global economic crisis that was brought about by sub-primed
mortgages. This was rated AA by the Philippine Rating Services Corporation
(PhilRatings). Bahay Bonds become oversubscribed twice because of this the
corporation was recognized by Asset Asian Awards 2009 and was awarded the Triple A
Award category 2009 Securitization of the Year.
In November 19, 2009, the Board approved the proposed Guidelines on the Housing
Loan Receivable Purchase Program (HLRPP) that granted authority for the NHMFC
President to approve all purchases under the HLRPP. The new guideline allowed the
purchase of housing loan receivables from the originating institutions and will be turned
into an asset pool for eventual issuance of securities or bonds for sale in the capital
market. With this program, the NHMFC will continue to perform its mandate as a
Secondary Mortgage Institution (SMI) to operate a viable housing finance system thru
the securitization of the residential home mortgages.
In August 2012, NHMFC issued the second of its Bahay Bonds series (BB2). It is the
first ever retail mortgage-backed securities (RMBS) issued in the country and was given
a conditional rating of PRS Aa by the PhilRatings. The following year, NHMFC was
awarded by the Philippine Dealing System Holdings Corporation & Subsidiaries (PDS
Group) with the Innovative Listed Corporate Bond Issue of the Year for the pioneer
issuance of BB2 Special Purpose Trust.
In March 2013, the NHMFC was awarded ISO 9001:2008 for the Rizal Division after
audit stages conducted by Tüv Süd PSB Philippines. In 2014, NHMFC has expanded
ISO certification for the Borrower Counseling System of the Rizal, NCR and Luzon
Division, Extra-judicial foreclosure process (Buyer-Initiated) of the Litigation Division and
Release of Title process of the Securities and Mortgage Custodianship Division. In
2016, the NHMFC was awarded ISO 9001:2008 Certification for its Securitization of
Housing Loan Portfolios and Borrower’s Services for all its offices nationwide.
NHMFC is continuously seeking ways to continue to cater to the housing needs of the
low-income and underserved sectors of the society. In 2016, two new sub-programs
were launched with the aim of expanding the target market of HLRPP. The Socialized
Housing Loan Takeout of Receivables (SHeLTeR) program, rolled out in the second
quarter of 2016, aims to purchase socialized housing loan receivables from socialized
housing developers as well as microfinance institutions, cooperatives, LGUs, national
government agencies and civic organizations. The SHeLTeR Program offers more
affordable terms as it targets the socialized housing market. During the last quarter of
2016, the first ever reverse mortgage program in the Philippines was launched through
NHMFC’s MAginhawang BUhay dahil sa baHAY (MABUHAY). The program is part of
NHMFC’s effort to address the needs of the senior members of our community.
MaBuHay allows Senior Citizens to convert a portion of their home equity into cash in
order to address their various needs. 
RULES AND FUNCTIONS
 Guide and driven by our mandate , the National Home Mortgage Finance
Corporation, its officers and personnel are committed to:
 Provide liquidity to Partners and Clientele through Securitization of Loan
Mortgages
 Deliver adequate assistance to its Clientele and Borrowers.
 Sustain value-driven alliance with its Partners.
As we strive to achieve excellence in service delivery and customer satisfaction,
we are committed to consistently comply with the requirements of our Quality
Management System and continually improve its effectiveness.

4. SOCIAL HOUSING FINANCE CORPORATION (SHFC)

The Social Housing Finance Corporation (SHFC) was created through Executive
Order No. 272 (E.O.272), which directs the transfer of the Community Mortgage
Program (CMP), Abot Kaya Pabahay Fund (AKPF) Program, and other social housing
powers and functions of the National Home Mortgage Finance Corporation to the
SHFC.
MANDATE
Under E.O. 272, the SHFC shall be the lead government agency to undertake
social housing programs that will cater to the formal and informal sectors in the low-
income bracket and shall take charge of developing and administering social housing
program schemes, particularly the CMP and the AKPF Program (amortization support
program and development financing program).
LAWS ON HOUSING

MALACAÑANG
MANILA

BY THE PRESIDENT OF THE PHILIPPINES

EXECUTIVE ORDER NO. 272

AUTHORIZING THE CREATION OF THE SOCIAL HOUSING FINANCE

CORPORATION AND DIRECTING THE TRANSFER OF THE COMMUNITY
MORTGAGE PROGRAM, ABOT-KAYA PABAHAY FUND PROGRAM, AND OTHER
SOCIAL HOUSING POWERS AND FUNCTIONS OF THE NATIONAL HOME
MORTGAGE FINANCE CORPORATION TO THE SOCIAL HOUSING FINANCE
CORPORATION

WHEREAS, the Constitution mandates the State to undertake a continuing program of

urban land reform and housing which will make available, at affordable cost, decent
housing and basic services to underprivileged and homeless citizens in urban centers
and resettlement areas;
WHEREAS, the National Home Mortgage Finance Corporation [NHMFC] was created
under Presidential Decree No. 1267 with the primary purpose of developing and
providing a secondary market for home mortgages granted by public and/or private
home financing institutions;

WHEREAS, Republic Act No. 6846 [RA 6846], otherwise known as the “Social Housing
Support Fund Act of 1990,” as amended by Republic Act No. 7835 [RA 7835], otherwise
known as the “Comprehensive and Integrated Shelter Financing Act of 1994,” created
the Abot-Kaya Pabahay Fund [AKPF] to enhance the affordability of low-cost housing
by low-income families, provide developmental financing for low-cost housing projects,
and eliminate the risks for the government funding agencies involved in housing, and
designated the NHMFC to act as the trustee of the AKPF and exercise administration
and control over the AKPF amortization support program and AKPF developmental
financing program;

WHEREAS, Republic Act No. 7279 [RA 7279], otherwise known as the “Urban
Development and Housing Act of 1992,” adopted the Community Mortgage Program
[CMP] as a component of the National Shelter Program to assist legally-organized
associations of underprivileged and homeless citizens to purchase and develop a tract
of land and to own lots they occupy or where they choose to relocate to, under the
concept of community ownership, and designated the NHMFC as the administrator of
the CMP;

WHEREAS, the Housing and Urban Development Coordinating Council [HUDCC]

Secretariat, through the HUDCC Chairman, has recommended the creation of the
Social Housing Finance Corporation [SHFC] as a wholly-owned subsidiary of the
NHMFC, to perform the latter’s powers and functions relating to the administration,
management and development of the CMP and the AKPF Program (amortization
support program and developmental financing program), as well as other social housing
functions of the NHMFC, in order to allow the NHMFC to devote full attention to its
mandate to develop and provide a secondary market for home mortgages granted by
public and/or private home financing institutions;

NOW, THEREFORE, I, GLORIA MACAPAGAL-ARROYO, President of the Philippines,

by virtue of the powers vested in me by law, do hereby order:

SECTION 1. Authority to Establish the Social Housing Finance Corporation. – The

National Home Mortgage Finance Corporation [NHMFC] is hereby authorized to
organize and establish a body corporate to be known as the Social Housing Finance
Corporation [SHFC], as a wholly-owned subsidiary, to be formed in accordance with the
Corporation Code and pertinent rules and regulations issued by the Securities and
Exchange Commission [SEC]. Upon its incorporation, the SHFC shall be under the
administrative supervision of the HUDCC.

SECTION 2. Mandate. – The SHFC shall be the lead government agency to undertake
social housing programs that will cater to the formal and informal sectors in the low-
income bracket and shall take charge of developing and administering social housing
program schemes, particularly the CMP and the AKPF Program (amortization support
program and developmental financing program).

SECTION 3. Capitalization, Powers and Functions of the SHFC. – The NHMFC, as the
incorporator and holding company of the SHFC, shall determine the capitalization,
powers and functions of the SHFC.

SECTION 4. Board of Directors of the SHFC. – The Board of Directors of the SHFC
shall be composed of the following:

a. HUDCC Chairman as ex-officio Chairman;

b. SHFC President as ex-officio Vice Chairman;
c. Secretary of the Department of Finance or his designated representative;
d. Secretary of the Department of the Interior and Local Government, or his designated
representative;
e. Secretary of the Department of Budget and Management, or his designated
representative;
f. Representative from the Bangko Sentral ng Pilipinas [BSP] designated by the BSP
Governor;
g. Representative from the NHMFC designated by the Board of Directors of NHMFC;
and
h. Four (4) representatives from the private sector, who shall be nominated by the
President of the Republic of the Philippines.

SECTION 5. President of the SHFC. – The President of the SHFC shall be nominated
by the President of the Republic of the Philippines.

SECTION 6. Transfer. – Upon the incorporation of the SHFC, the following funds and
programs directed towards social housing shall be transferred from the NHMFC to the
SHFC:

(a) The CMP, including all funds appropriated for the CMP;
(b) The AKPF Program (amortization support program and the developmental financing
program); and
(c) Such other funds, programs and functions related to social housing as may be
determined by the NHMFC Board.

Upon such transfer, all powers, functions, rights and duties previously exercised by the
NHMFC relating to the administration, management and development of the CMP and
the AKPF Program (amortization support program and the developmental financing
program), whether as administrator or as trustee, as well as the other social housing
functions of the NHMFC to be determined by the NHMFC Board, shall be transferred to
and exercised by the SHFC.
SECTION 7. Transfer Committee. – A Transfer Committee composed of the HUDCC
Chairman, the NHMFC President, a representative from the DBM, and two (2)
representatives from the HUDCC, shall prepare the necessary plans and measures to
effect the transfer of all assets, liabilities and records of the CMP and the AKPF
Program (amortization support program and the developmental financing program) to
the SHFC within thirty (30) days from the issuance of this Executive Order.

The NHMFC, SHFC and the Transfer Committee are hereby directed to take all the
necessary steps towards effecting the efficient transfer of the CMP and the AKPF
Program (amortization support program and the developmental financing program) from
the NHMFC to the SHFC and shall jointly submit a report to the President on all actions
taken to implement the provisions of this Executive Order within thirty (30) days after the
SHFC shall have been organized and established.

SECTION 8. Personnel. – The SHFC position structure and staffing pattern shall be
subject to the approval of the DBM. To ensure the continued implementation of the
CMP and the AKPF Program (amortization support program and the developmental
financing program) during the period of transfer and transition, the NHMFC personnel
who are performing the functions transferred to the SHFC shall continue to perform
such duties; provided, that those personnel whose positions or job descriptions are not
included in the SHFC position structure and staffing pattern may, at their option, remain
with the NHMFC, retire, or be separated from the service, and shall be entitled to the
benefits provided by law at the time of retirement or separation.

SECTION 9. Existing Policies and Rules. – Existing policies, guidelines, rules and
regulations with respect to the functions of the NHMFC which have been transferred to
the SHFC shall continue in effect until amended or modified accordingly.

SECTION 10. Repealing Clause. – All executive issuances, guidelines, rules and

regulations, or parts thereof which are contrary or inconsistent with the provisions of this
Executive Order are hereby repealed or modified accordingly.

SECTION 11. Effectivity. – This Executive Order shall take effect immediately.

City of Manila, JAN 20 2004

Sectoral Performance Audit Report

on the Housing Program of the
National Home Mortgage Finance Corporation

EXECUTIVE ORDER NO. 272

(Creation of the Social Housing

Finance Corporation)
 AUTHORIZING THE CREATION OF
THE SOCIAL HOUSING FINANCE
CORPORATION AND DIRECTING
THE TRANSFER OF THE
COMMUNITY MORTGAGE
PROGRAM, ABOT-KAYA PABAHAY
FUND PROGRAM, AND OTHER
SOCIAL HOUSING POWERS AND
FUNCTIONS OF THE NATIONAL
HOME MORTGAGE FINANCE
CORPORATION TO THE SOCIAL
HOUSING FINANCE CORPORATION.
REPUBLIC ACT NO. 9161
"The Rental Reform Act of 2002"
AN ACT ESTABLISHING REFORMS IN THE REGULATION OF RENTALS
OF CERTAIN RESIDENTIAL UNITS, PROVIDING THE MECHANISMS
THEREFOR AND FOR OTHER PURPOSES. chanrobles virtual law library

REPUBLIC ACT NO. 7835

"Comprehensive and Integrated Shelter Financing Act of 1994"
AN ACT PROVIDING FOR A COMPREHENSIVE AND INTEGRATED SHELTER AND
URBAN DEVELOPMENT FINANCING PROGRAM BY INCREASING AND
REGULARIZING THE YEARLY APPROPRIATION OF THE MAJOR COMPONENTS OF
THE NATIONAL SHELTER PROGRAM, INCLUDING THE ABOT-KAYA PABAHAY FUND
UNDER REPUBLIC ACT NO. 6846, AUGMENTING THE AUTHORIZED CAPITAL STOCK
AND PAID-UP CAPITAL OF THE NATIONAL HOME MORTGAGE FINANCE
CORPORATION (NHMFC) AND THE HOME INSURANCE AND GUARANTY
CORPORATION (HIGC), IDENTIFYING OTHER SOURCES OF FUNDING AND
APPROPRIATING FUNDS FOR THE PURPOSES. chanrobles virtual law library

REPUBLIC ACT NO. 7279

"Urban Development and Housing Act of 1992"
 AN ACT TO PROVIDE FOR A COMPREHENSIVE AND CONTINUING
URBAN DEVELOPMENT AND HOUSING PROGRAM, ESTABLISH THE
MECHANISM FOR ITS IMPLEMENTATION, AND FOR OTHER
PURPOSES. chanrobles virtual law library

REPUBLIC ACT NO. 8437 

AN ACT FURTHER EXTENDING THE RENT CONTROL PERIOD FOR
CERTAIN RESIDENTIAL UNITS AMENDING THEREBY BATAS
PAMBANSA BLG. 877 ENTITLED: "AN ACT PROVIDING FOR THE
 STABILIZATION AND REGULATION OF RENTALS OF CERTAIN
RESIDENTIAL UNITS, AND FOR OTHER PURPOSES, AS AMENDED". chanrobles virtual law library

REPUBLIC ACT NO. 8368

AN ACT REPEALING PRESIDENTIAL DECREE NO. 772, ENTITLED

'PENALIZING SQUATTING AND OTHER SIMILAR ACTS'.chanrobles virtual law library