Professional Documents
Culture Documents
Objective
1. Identify the Five Key Shelter Agencies of the Department of Human Settlements
and Urban Development.
2. Define the Five Key Shelter Agencies’ respective roles and functions.
3. 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.
4. The birth of the Home Development Mutual Fund (HDMF), more popularly known as the Pag-
IBIG Fund, was an answer to the need for a national savings program and an affordable
shelter financing for the Filipino worker. The Fund was established on 11 June 1978 by virtue
of Presidential Decree No. 1530 primarily to address these two basic yet equally important
needs. Under the said law, there were two agencies that administered the Fund.
The Social Security System handled the funds of private employees, while the Government
Service Insurance System handled the savings of government workers.