NHMFC teams up with SM and UCPB

            Vice President Jejomar C. Binay said the National Home Mortgage Finance Corporation (NHMFC) has teamed-up with SM Mart, Inc. (SM) and United Coconut Planters Bank (UCPB) as its accredited collection partners    in order to reach out to its paying clients

            “Through the Bills Payment Facility of SM and the Over-the-Counter Collection Facility of UCPB, the agency will have a wider reach to its clientele,” Binay said.

            Binay also said that the partnership will enhance NHMFC’s collection mechanism because it will eliminate the float period which requires the collecting banks to remit the collection to NHMFC the next day after the date of collection.

            “The remittance of the collection is beneficial to both the payor and NHMFC since this will be posted to his account immediately upon receipt of his payment by NHMFC,” he added.

            The NHMFC is the major government home mortgage institution tasked to operate a viable secondary home mortgage market.  It is also mandated to monitor the performance and implementation of the Community Mortgage Program (CMP) by its wholly-owned subsidiary, the Social Housing Finance Corporation (SHFC).

            The SM payment facility has over 200 locations nationwide that accept and consolidate payments for its various biller partners while UCPB has 183 branches nationwide.

            Other accredited collection partners of NHMFC include Banco De Oro (formerly EPCIB branches), Philippine National Bank (PNB), BPI Family Bank, Land Bank of the Philippines (LBP), Development Bank of the Philippines (DBP) and Bayad Centers.