The Securities and Exchange Commission (SEC) has approved the state-run National Home Mortgage Finance Corp.’s (NHMFC) plan to raise P319.32 million from a limited offering of debt paper backed by cash flow from its housing loan portfolio.
This will be NHMFC’s fourth time to sell securities with housing receivables as underlying assets. Securitization is a rare transaction in the local financial market.
NHMFC is the agency mandated to provide homebuyer’s financing in the country.
The SEC en banc approved on Dec. 10 the securitization plan of NHMFC, albeit still subject to the fulfillment of certain conditions.
Under the securitization plan, NHMFC will create a pool of 1,291 l…
Keep on reading: SEC greenlights NHMFC plan to issue fresh ‘balai’ bonds