BFS Celebrates Four Years of Asset Management

BFS’ efficient and accurate processing, nimbleness, intensive focus on quality control and customized service, exhaustive follow-up with stakeholder partners like local jurisdictions, courts, and government agencies where critical protocols have been developed, enable BFS to stay at the top of its game in terms of total service delivery. Furthermore, strategic partnerships with other service providers allow BFS to reach far-flung areas, leverage local knowledge and further enhance the value of its services, consistent with its over-all goal to deliver targeted results in its asset management business.

BFS, the only mortgage servicing company in the Philippines, is celebrating four years of asset management this year. In 2005, it took over a multi-billion Peso portfolio of 52,000 highly distressed, geographically dispersed residential mortgage loans from the National Home Mortgage and Finance Corporation (NHMFC). BFS was officially launched in 2006 when it commenced servicing the portfolio.

It has a fully-integrated mortgage servicing and special asset management delivery platform that employs customized programs and strategies, end-to-end workflow automation including virtual foldering, centralized database and data warehousing, and systems-driven processes and procedures.

Delinquency levels for loans restructured by BFS are below market averages. This, despite a portfolio which has been delinquent for more than 10 years, including 30 percent with no payment at all since loan origination.