MANILA, Jul. 15 (PIA) – The Home Development Mutual Fund (HDMF), also known as Pag-IBIG Fund, has adopted various IT-based strategies to provide ease to its members and further improve collections.
“We are happy that Pag-IBIG’s efforts to regularly remind member-borrowers’ to pay their monthly obligations on-time have been widely accepted by Pag-IBIG members, resulting in the reduction of past due accounts,” HDMF President Darlene Marie Berberabe said.
Among the strategies adopted by Pag-IBIG to help member-borrowers pay their housing loans on time include: tele-collection service, the utilization of email and text-blasts, and outsourcing of courier services for the delivery of monthly billing statements.
Berberabe said the tele-collection service proved to be the most effective method, with Pag-IBIG directly crediting the reduction of delinquent accounts.
With tele-collection, Pag-IBIG hopes to prevent housing loan accounts that are 31 to 90 days past due from being tagged as non-performing loans.
Further, Berberabe said Pag-IBIG also tapped the services of collection agencies (CAs) for non-performing loans or accounts that have not been paid for three consecutive months.
“The tele-collection service significantly reduced the number of accounts endorsed to collection agencies. From an average of 4,793 in 2014, endorsements to CAs have gone down to 2,572 as of March of this year or a reduction of almost 50 percent. This means that more member-borrowers are now paying on-time,” Berberabe said.
Berberabe pointed out that the cooperation of Pag-IBIG members is very important. She said that on-time payments will not only ensure the eventual legal ownership of the member-borrowers to the properties subject of their loan but will also help sustain the viability of the Fund to provide home financing to more and more Filipino families.
The tele-collection service was implemented by Pag-IBIG last January. (HDMF). (HDMF/RJB/KCDA/PIA-NCR)
See more at: http://news.pia.gov.ph/article/view/2981436787818/pag-ibig-adopts-member-friendly-it-based-strategies#sthash.727yZJuR.dpuf
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