The Market Monitor Minding the Nation's Business
The Housing and Urban Development Coordinating Council (HUDCC) and the six key shelter agencies (KSAs) under its administrative supervision provided assistance to the typhoon victims as part of the government’s collective immediate response and to help the families recover from the aftermath of Typhoon Nina.
In their report, the HUDCC said a total of 313,767 homes were either damaged or destroyed in Calabarzon, Mimaropa and Region V after the onslaught of Typhoon Nina last December 25, 2016, according to the updated situation report released by the National Disaster and Risk Reduction Management Council (NDRRMC). Based on the post-disaster needs assessment (PDNA) conducted by the NDRRMC, more than 27 percent out of the total 313,767 destroyed units or 85,229 homes were totally damaged, while 228,538 were partially damaged.
The hardest-hit was Camarines Sur, Region V where a total of 137,779 homes were either completely or partially destroyed. The region also recorded the most number of damaged houses, which makes up more than seventy percent (74 percent) of the reported total housing damages due to Typhoon Nina.
In response, the HUDCC and the Key Shelter Agencies (KSAs) Home Development Mutual Fund (HDMF/ Pag-IBIG), Home guarantee Corporation (HGC) and National Home Mortgage and Finance Corporation (NHMFC), together with the National Housing Authority (NHA), Social Housing Finance Corporation (SHFC) and the Housing and Land Use Regulatory Board (HLURB) provided assistance to the typhoon victims as part of the government’s collective immediate response and to help the families recover from the aftermath of Typhoon Nina.
HDMF earmarked P6 billion for calamity loan assistance to its members in the provinces of Albay, Catanduanes, Camarines Sur, Batangas, Marinduqe, Quezon, and the municipalities of Naujan, Puerto Galera, Baco, San Teodoro, Pola and Calapan City in Oriental Mindoro, which have been declared by their respective LGUs in a state of calamity.
The Pag-IBIG Calamity Loan is also available to eligible members living in the municipalities of Jipapad, Maslog, Oras, Dolores, Canvid, Taft, Sulat, Arteche, San Policarpio and all of Eastern Samar, which were likewise declared under the state of calamity. Members may avail of a loan up to 80% of their total accumulated savings, at an annual interest rate of 5.95%, the lowest in the market. To qualify, members must have at least 24 monthly contributions, and must not be in default in their payments of their Pag-IBIG Housing Loan or Multi-Purpose Loan, if they have these. Calamity loan applicants must submit an application form and two valid IDs, with at least one bearing an address showing that they reside in the area declared under state of calamity.
Last January 23, HDMF also distributed home materials assistance to 125 families affected by the typhoon in Pasacao, Camarines Sur. Each family received 10 galvanized iron (GI) sheets as they start to repair/rebuild their damaged homes.
The HGC gave checks amounting to P100, 000 to the local government unit (LGU) of Buhi, Camarines Sur as an additional support to the LGU’s immediate relief activities for its 7,886 affected families.
In support, NHMFC imposed a six-month moratorium on housing loan payments for its borrowers who were affected by the typhoon. According to reports from NHMFC’s satellite office, roughly 1,050 accounts were severely affected: Bicol (800); Quezon (50); and Mimaropa (200).