Posted by jhenares on Jun 5, 2015 in Corporate News, Press Room

BFS Social Case Window helps delinquent borrowers

(The Philippine Star) BFS, the mortgage servicer of 52,000 delinquent housing loans acquired from the National Home Mortgage Finance Corp., recognizes marginal cases where delinquent borrowers cannot pay the full amount of their loan obligations due to extreme poverty, old age, or serious medical conditions, among others, and who are unable to receive support from family members. The BFS Social Case Window program helps borrowers access more lenient financial options if borrowers applying under the program can adequately demonstrate their eligibility under the program’s coverage. Among those who have benefitted from the Social Window Case program are Vilma Dada, who was diagnosed with stage 3 breast cancer in 2012, Mimosa Famularcano who has been supporting her younger brother who was diagnose with lung cancer; Pascua Mendoza who suffered a financial setback when his wife suffered heart problems last year and had to earmark the funds for hospital bills, and many more. “These are only a few of the people reaching out to BFS to resolve their housing payments by...

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

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 jhenares on May 11, 2015 in Corporate News, Press Room

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 jhenares on May 9, 2015 in Corporate News, Press Room

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...