PAG-IBIG Fund and the Land Registration Authority (LRA) will collaborate to simplify and speed up the processing of housing-loan transactions.
In a press briefing on Wednesday, Pag-IBIG Fund Chief Executive Officer Darlene Marie Berberabe said the agency aims to implement a “government to government style” transaction that will expedite the application and processing of housing loans.
“If possible, Pag-IBIG Fund wants to implement a G to G style because this will simplify the transaction and processing,” she said.
“We acknowledge there are a lot of problems in the different agencies of government. For instance, Pag-IBIG has different agencies that need to develop consistencies in the information of applicants,” she said.
She also pointed out that a full-scale computerization program is essential to handle the large volume of annotations. “If Pag-IBIG Fund is fully computerized, the annotation process would be reduced from 30 to 10 days,” she said.
Fot his part, LRA Administrator Eulalio Diaz III stressed the importance of computerization to address current delays of processing and a developed standard form for applications.
Diaz said there are different forms in sales, processing and application which are one of the root causes of delays in Pag-IBIG Fund transactions .
He added the computerization program of LRA is expected to bring a paradigm shift and improve housing delivery in a comprehensive manner. “First is streamlining the process, second is eradicating fake titles and third is to professionalize the ranks of the LRA,” he said.
Berberabe said progress have been made in the computerization process as 80 percent of the titles submitted to the LRA have been released within a few days.
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