Social Housing Finance Corporation

The Social Housing Finance Corporation (SHFC) and the municipality of Polomolok in South Cotabato inked a

memorandum of understanding for the implementation of the Community Mortgage Program (CMP), the

former’s flagship initiative, in the municipality. SHFC Executive Vice President Atty. Junefe Payot and Mayor

Honey Lumayag-Matti forged the agreement in a virtual ceremony facilitated by the Partner Relations Division

on November 25.

Under the deal, SHFC will finance the lot acquisition, site development, and construction of housing units for

1,400 families. These are just the initial number of families who are set to benefit

from the program. Both sides are looking to expand the initiative in the coming years to increase the number of

beneficiaries.

In her speech, Matti expressed her gratitude to SHFC as her plan of building more “Honeyvilles” is now finally a

step closer, adding that she has been an advocate of adequate housing since she became mayor in 2013. “We

will fully support this program until we actually see decent and safe houses for all our disadvantaged

constituents,” Matti said.

On the other hand, Payot affirmed SHFC’s commitment to supporting the development of Polomolok. According

to him, adequate and livable housing play an important role in fighting COVID-19 as minimum health standards

such as social distancing and isolation depend on people having access to decent shelter. “We are not satisfied

with mediocre housing. We want it to be affordable but at the same time livable and adequate,” Payot

stressed.

SHFC has so far forged similar deals with around 100 local government units, including more than 20 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 secured homes to more than 400,000 families through about P24 billion in

loan assistance under the CMP.