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SHFC, CAUAYAN TIE UP TO BUILD
HOMES FOR 600 FAMILIES
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About 600 families from Cauayan, Isabela will soon have a place they can call their home with the  
implementation of the Community Mortgage Program (CMP), the flagship housing initiative of the Social  
Housing Finance Corporation (SHFC), in the city. This came after SHFC Senior Vice President for Operations  
Atty. Ronaldo Saco and Mayor Bernard Faustino Dy signed a memorandum of understanding (MOU) in a  
virtual ceremony held on July 27.   

Under the agreement, SHFC will finance the lot acquisition, site development, and house construction of 584  
families from the Labinab Heights Homeowner’s Association, Inc. in Barangay Labinab. The MOU also  
mandates the agency to conduct briefing and orientation in Cauayan regarding its housing programs and  
city-wide community upgrading strategies.  

The ceremony took place in the presence of SHFC North Luzon Regional Operation Vice President Jones  
Tomas and Vice Mayor Agripino Estrada, Jr. This marked the fifth time the agency formalized deals with  
local government units using video conferencing technology to adapt to the  

new normal. On July 9, SHFC entered into a similar agreement with Jones, Isabela for the benefit of more  
than 1,000 families.   
In his speech, Saco said that now is the right time to help Filipinos living in danger zones. “With the threat  
of COVID-19, it is vital now, more than ever, to have their own spaces to avoid the spread of the virus,” he  
noted. Saco explained that SHFC is looking for innovations that would help the agency to be more efficient  
in these challenging times.   

For his part, Dy underscored the importance of providing homes for the underprivileged and the homeless  
sector. “I express my utmost appreciation to the leadership headed by Atty. (Arnolfo Ricardo) Cabling for  
having this vision: for providing not only affordable and efficient homes but also livable and sustainable  
shelter,” he said.    

SHFC has so far forged similar agreements with 91 local government units, including 16 new partners  
added this year. In the light of the pandemic, the agency continues with the provision of adequate housing,  
which has become even more crucial now given that viruses spread fast in congested informal settlements.  
To date, it has provided security of tenure to more than 400,000 families through about P24 billion in loan  
assistance under the CMP.