HOME GUARANTY CORPORATION. TRAINER’S TRAINING. Date: October 12-14, 2011. Venue :. HISTORICAL BACKGROUND. FOUNDED IN 1950 THRU R.A. 580 - HOME FINANCING COMMISSION 1978 - BECAME CORPORATION UNDER E.O. 535
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Date: October 12-14, 2011
Guaranty for Securitization Schemes
RISK COVER - on outstanding principal obligation plus interest and yields on guaranteed loans
FISCAL INCENTIVE -Tax exemption on Interests and yields earned on guaranteed loans
Sales PackageInterest/Yield Earned
Socialized Housing Up to 11.0%
Low-Cost Housing Up to 10.0%
Medium-Cost Housing Up to 9.5%
Open Housing Up to 8.5%
SOVEREIGN GUARANTY ON HGC OBLIGATIONS
– Up to twenty (20) times its networth.
TYPES OF GUARANTY COVERAGE
B. Installment sale:
MINIMUM DOWN PAYMENT: 10% OF THE BID PRICE
Balance of the bid price shall be payable for a maximum period of thirty (30) years at the following interest rates:
The amount of Bid Security shall depend on the sales package of the property, as shown below:
A. Public Bidding
2. The Invitation to Apply for Eligibility and to Bid shall be published in a newspaper of general circulation for two (2) consecutive weeks or days and posted in the HGC website (www.hgc.gov.ph). If the project is located in a region, province or locality which has its own broadly circulated newspapers, the Invitation is also published in one (1) of such local newspaper.
3. The MDP shall be based on the average appraisal values of two (2) external appraisers. The appraisal shall be effective for two (2) years; updating may be undertaken even before the 2-year period expires, if warranted.
A. Public Bidding (Cont’d)
4. The MDP shall be approved by the following:
The approval of the HGC Board of Directors is also obtained for the following:
After a failed public bidding, the Board may, upon the recommendation of Management, approve the conduct of another public bidding with a revised and/or adjusted MDP, or undertake disposition through a negotiated arrangement.
The project/asset shall be disposed through negotiations with interested buyers. Offers for negotiated sale shall be published and solicited formally. The negotiated disposition may come in the form of:
B. Negotiated Sale (Cont’d)
For purposes of negotiation, the following may be considered as applicable bases for determining the offer most advantageous to the Corporation:
Current Market Value
Add/Deduct : (expected increase or depreciation for the next 2.5 years)
= Adjusted Market Value
= Minimum Disposition Price
Disposition through Retail Basis
After failing to dispose a developmental project on a wholesale, “as-is, where-is” basis, and if said project has lots and/or houses and lots that can be disposed of individually, disposition of the non-retail account can be made on a retail basis.
Short Term Leases
Developmental accounts may also be published for lease but only for a short term of one to five years.
4th Floor Jade Building No. 335
Sen. Gil Puyat Avenue, Makati City
Tel Nos. 896-04-25; 897-31-49; 897-32-34