More banks sign up for HGC program

MANILA, Philippines - BPI Family Savings Bank, RCBC Savings Banks, HSBC Savings Bank, The Real Bank, Malayan Bank and Pueblo de Oro Development Corp. have signed up for the Home Guaranty Corp.’s (HGC) Bankers-Builders-Buyers (B-B-B) program. HGC president, Manuel R. Sanchez said the B-B-B program is an enhancement of HGC’s function as fund mobilizer for housing. “We aim to bring together bankers, builders and buyers in a housing finance circle complementing each other’s needs and functions,” Sanchez said. The B-B-B program aims to: assist partner banks promote housing loan products to builders and home buyers; bring builders to banks for project financing and promoting their housing units to prospective buyers; and guide homebuyers to self-qualify for housing loans and provide them with home-buying options according to their financial capacities and other preferences such as types of housing unit, location, etc. Nine banks and eight developers had previously signed up for the B-B-B Program, namely: Philippine Savings Bank, Planters Development Bank, East West Banking Corp., Sterling Bank of Asia, Philippine National Bank, Land Bank of the Philippines, Rural Bank of Makati, Philippine Veterans Bank, Equicom Savings Bank; Filinvest Land, New San Jose Builders, PRO-Friends, Suntrust Properties, Foghorn, 8990 Development Corp.,   Hausland and NGG Properties, Inc.