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Posted by on May 26, 2015 in Corporate News, Press Room

Mortgage servicing next BPO?

Mortgage servicing next BPO?

(The Philippine Star) The mortgage servicing industry may still be in its infancy stage, but the pioneer in the management of mortgages in the Philippines sees the sector as the next BPO (business process outsourcing) opportunity. According to BFS, the country’s first company to specialize in mortgage servicing and asset management, there will be a growing need for mortgage processing as the demand for housing is projected to grow. This goes hand in hand with an expanding consumer market stemming from an improving economy. “The purchase of a residential home is the most important investment,” explains BFS president Federico Y. Cadiz. “With a growing economy, the opportunity to make this investment is made more available.” BFS is a pioneering multinational mortgage-servicing platform that combines functional competencies in mortgage finance organization and credit underwriting, loan servicing, default management, property management, and sales and secondary market development. In a recent report, the Bangko Sentral ng Pilipinas (BSP) reported that total consumer loans grew 20.9 percent year-on-year at the end of September...

Posted by on May 11, 2015 in Corporate News, Press Room

Mortgage servicing seen as next outsourcing niche

Mortgage servicing seen as next outsourcing niche

(The Daily Tribune) The mortgage servicing industry may be small, but the pioneer in the management of mortgages in the Philippines sees the sector as the next BPO (business process outsourcing) opportunity. According to BFS, the country’s first company to specialize in mortgage servicing and asset management, there will be a growing need for mortgage processing as the demand for housing is projected to grow. This goes in hand in hand with an expanding consumer market stemming from an improving economy. “The purchase of a residential home is the most important investment,” explained BFS President Federico Y. Cadiz. “With a growing economy, the opportunity to make this investment is made more available. In a recent report, the Bangko Sentral ng Pilipinas (BSP) reported that the total consumer loans grew 20.9 percent year-on-year at the end of September 2014, with residential real estate loans increasing by 24.8 percent in the same period to P79.8 billion.” “Under a growth regime, lenders will manage and process an increasing number of loans and...

Posted by on May 9, 2015 in Corporate News, Press Room

Mortgage servicing seen as next outsourcing niche

Mortgage servicing seen as next outsourcing niche

(Manila Bulletin) The mortgage servicing industry may be small, but the pioneer in the management of mortgages in the Philippines sees the sector as the next BPO (business process outsourcing) opportunity. According to BFS, the country’s first company to specialize in mortgage servicing and asset management, there will be a growing need for mortgage processing as the demand for housing is projected to grow. This goes hand in hand with an expanding consumer market stemming from an improving economy. “The purchase of a residential home is the most important investment,” explained BFS President Federico Y. Cadiz. “With a growing economy, the opportunity to make this investment is made more available. In a recent report, the Bangko Sentral ng Pilipinas (BSP) said the total consumer loans grew 20.9 percent year-on-year at the end of September 2014, with residential real estate loans increasing by 24.8 percent in the same period to P79.8 billion.” “Under a growth regime, lenders will manage and process an increasing number of loans and mortgage accounts. As the...

Posted by on May 5, 2015 in Corporate News

BFS resolves mortgage debt problems

BFS resolves mortgage debt problems

(The Philippine Star) BFS has successfully resolved more than 60 percent of accounts of mortgage servicing, generating a total collection of P11 billion. BFS is a pioneering multinational mortgage servicing platform that combines functional competencies in mortgage finance origination and credit underwriting, loan servicing, default management, property management and sales and secondary market development. One of its major accounts is managing the portfolio of housing loans acquired from the National Home Mortgage Finance Corp. (NHMFC). BFS president Federico Cadiz said that the transfer of the non-performing loans (NPL) management to BFS in 2005 was a pioneering transaction that allowed the government agency to maximize cash recovery from delinquent loans, provide cash flow relief and reduce its obligation to their funders. “The specialized mortgage servicing that BFS can provide helps institutions address the numerous and complex non-performing mortgage loan portfolio problems, and to free up their internal resources towards their performing loans,” Cadiz added. BFS has helped delinquent housing loan borrowers settle long-standing obligation by providing them with various loan...

Posted by on May 5, 2015 in Corporate News, Press Room

BFS resolves mortgage debt problems

BFS resolves mortgage debt problems

(The Philippine Star) BFS has successfully resolved more than 60 percent of accounts of mortgage servicing, generating a total collection of P11 billion. BFS is a pioneering multinational mortgage servicing platform that combines functional competencies in mortgage finance origination and credit underwriting, loan servicing, default management, property management and sales and secondary market development. One of its major accounts is managing the portfolio of housing loans acquired from the National Home Mortgage Finance Corp. (NHMFC). BFS president Federico Cadiz said that the transfer of the non-performing loans (NPL) management to BFS in 2005 was a pioneering transaction that allowed the government agency to maximize cash recovery from delinquent loans, provide cash flow relief and reduce its obligation to their funders. “The specialized mortgage servicing that BFS can provide helps institutions address the numerous and complex non-performing mortgage loan portfolio problems, and to free up their internal resources towards their performing loans,” Cadiz added. BFS has helped delinquent housing loan borrowers settle long-standing obligations by providing them with various loan...

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