Question & AnswerQ&A (HDMF CIRCULAR NO. 346)
The Senior Management Committee is authorized to amend, modify, or revise provisions of the guidelines, provided such changes are in furtherance of the program's objectives and consistent with the Pag-IBIG Fund's mandate and existing laws.
The developer must submit the notarized Deed of Absolute Sale (DOAS) and the updated Real Estate Property Tax (REPT) to receive this portion of the retention fee.
It can be released upon the submission of the Certificate Authorizing Registration (CAR) by the developer.
These titles shall be released only upon submission of the duly notarized Trust Receipt and Deed of Undertaking by the developer, and the subject loan account must be updated or in current status.
Yes, all checks pending for release at the time of this circular’s issuance shall be allowed to be released to all active developers with a good track record in conversion and consolidation of titles.
Pag-IBIG Fund Circular Nos. 259, 287, 297, and 298 as well as all inconsistent policies, memoranda, rules, regulations, and other issuances are repealed, amended, or modified accordingly.
The revised policies took effect immediately upon the issuance of Circular No. 346 on September 8, 2014.
Section VII-C, Subsections 2 and 3 of HDMF Circular No. 259 are amended to provide the revised policies on the release of retention fees and loan documents.
Amendments must be in furtherance of the objectives of the program and consistent with the mandate of HDMF under its charter and existing laws.