[ 02/24/2008
By Doris Dumlao
THE STATE-CONTROLLED Home Development Mutual Fund, popularly known as the Pag-IBIG Fund, plans to auction some P20 billion worth of bad assets this November to free up more funds for its low-cost shelter financing.
In an interview, Pag-IBIG Fund president Romero Quimbo said the housing provident fund has mandated Ernst & Young as financial adviser for the unloading of the bad assets, 60 percent of which are made up of foreclosed property while the rest are highly delinquent retail loans. > > > [ full story ]
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