Posted by jhenares on May 5, 2015 in Corporate News

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 jhenares on Apr 30, 2015 in Corporate News

BFS marks a decade

(Malaya) BFS is entering a decade of pioneering multinational mortgage servicing in the Philippines this year, and continues to promote liquidity in the Philippine capital markets by helping both corporate and government clients alike manage loan accounts through primary and special servicing. As the only independent mortgage servicer in the country, BFS manages loan portfolios though a comprehensive mortgage platform which handles all core competencies for loan servicing. The platform makes use of specialized and efficient technology in processing information with a high degree of efficiency and integrity. “Through our adherence to global standards and best practices, BFS has been successful in helping both private and government institutions manage both their performing and nonperforming loan portfolios (NPLs),” BFS President Federico Cadiz said.  “BFS can also provide clients with wider access to financial services through secondary-market development, for example,” he added. While BFS works with corporate clients on mortgage servicing and asset management, one of its major roles is managing a portfolio of housing loans acquired by a private equity...

Posted by jhenares on Apr 8, 2015 in Corporate News

Tips on how to spot fake titles

(Business Mirror)   Manila, Philippines – Selling fraudulent certificates of title remains one of the most widespread scams in the country. BFS (Bahay Financial Services), the only mortgage servicer and special asset management company, shares some pointers on how to avoid falling prey to scam artists making sure the copies of title are genuine.   The transfer certificate of title (TCT), the Registry of Deeds’ (RD) copy and the owner’s duplicate should be identical in all aspects, including capitalization, punctuation marks, erasure and even typos. For reference, ask for the Registry of Deeds’ original copy and compare with the owner’s duplicate.   The last two or three digits of the TCT number should be identical to the page number. The serial number (SN) of the title as arranged in the registry book consecutively numbered. Government agencies keeping a record of the serial numbers assigned to each registry are the Land Registration Authority, Land Management Bureau and the Department of Agriculture.   The owner’s duplicate copy of the certificates of...

Posted by jhenares on Mar 6, 2015 in Corporate News

Tips on how to spot fake titles

(The Philippine Star Online)   Manila, Philippines – Selling fraudulent certificates of title remains one of the most widespread scams in the country. BFS (Bahay Financial Services), the only mortgage servicer and special asset management company, shares some pointers on how to avoid falling prey to scam artists making sure the copies of title are genuine.   The transfer certificate of title (TCT), the Registry of Deeds’ (RD) copy and the owner’s duplicate should be identical in all aspects, including capitalization, punctuation marks, erasure and even typos. For reference, ask for the Registry of Deeds’ original copy and compare with the owner’s duplicate.   The last two or three digits of the TCT number should be identical to the page number. The serial number (SN) of the title as arranged in the registry book consecutively numbered. Government agencies keeping a record of the serial numbers assigned to each registry are the Land Registration Authority, Land Management Bureau and the Department of Agriculture.   The owner’s duplicate copy of the...