Press Room | BFS Corporate

Posted by adminbfs on Apr 27, 2012 in Corporate News, Press Room

BFS Attracts Young Professionals to its Proprietary Training Program

A BFS Account Specialist counsels borrowers BFS, the premier special assets management and mortgage servicing company, has been resolving the 52,000 loan accounts of Balikatan Housing since 2005. In the process, it has fulfilled the dreams of homeownership for thousands of Filipinos. Launched in 2006, BFS continues to grow in leaps and bounds. As the Philippines’ premiere special asset management and mortgage servicing company, BFS established proprietary systems and processes to successfully service a portfolio of highly-distressed home loans from the National Housing and Mortgage Finance Corporation (NHMFC). With its proven track record, BFS is poised for more growth and is actively recruiting high-caliber performers to join the organization. BFS boasts of an unprecedented training program that specializes in mortgage servicing through the only Mortgage Academy in the Philippines, leading to the development of an exceptional career. A learning culture foments a mentoring standard from a senior management team with an average of 20 years of experience. International best practices are utilized and high value skills are taught by...

Posted by adminbfs on Apr 27, 2012 in Corporate News, Press Room

BFS Launches its Property Management Services in Luzon, with Plans for Mindanao

BFS formally launched its new property security and maintenance programs on November 22, 2010 replacing current resident caretakers with security guards and maintenance personnel in four critical subdivisions out of 255 subdivisions. The transition to the new set-up met some resistance from unyielding resident caretakers who resorted to various forms of protests ranging from emotional pleas, compromise offers, threats of negative media, political patronage and violence that posed many challenges to the implementation of new strategies. Nevertheless, the transition pushed through as planned. BFS also plans to expand its property management services to Mindanao, with Davao, Tagum, andPanabo as the pilot areas in the first quarter of...

Posted by adminbfs on Apr 16, 2012 in Corporate News, Press Room

Balikatan Housing fetes former NHMFC President Jopet Sison

Balikatan Housing Finance Inc.’s (BHFI) board of directors recently recognized its outgoing director and former National Home Mortgage Finance Corporation (NHMFC) President Joseph Peter “Jopet” Sison (5th from left) for his invaluable contribution to the company. Says BHFI President Federico Y. Cadiz, “The sale by NHMFC of a portfolio of thousands of highly delinquent residential mortgage loans in 2005 to a private international fund, through its investment vehicle BHFI, was a pioneering transaction. The asset sale allowed NHMFC to liquefy its interest in the portfolio and repay its debts to the SSS and the Pag-ibig, address its long-standing non-performing mortgage loan portfolio problem and free up its internal resources towards its performing loans. The “outsourcing” of the NPL management to the private sector with BHFI’s specialized competency in this area through its servicer, BFS Inc., at the same time, improved the rate of financial resolution of the portfolio. This also benefited the many borrowers wishing to legally retain ownership of their homes through a loan work-out. “While credit must...

Posted by adminbfs on Apr 16, 2012 in Corporate News, Press Room, Properties News

BFS Offers 2D’ Max Program for Property Buyers

Pioneer asset management company BFS recently announced its most aggressive sales program to date for potential home buyers. Under the 2D’ Max program, eligible spot-cash buyers may enjoy up to a 50% discount on select pre-owned properties. Properties available under the 2D’ Max program are located nationwide, from Metro Manila extending up to the provinces of Bataan, Bulacan, Cavite, Camarines Norte, Davao, Laguna, Pampanga, Quezon, Rizal, and Tarlac, among others. “Pre-owned properties are an attractive alternative, especially for entry level home buyers,” states BFS Property Sales Head Antonio Ortiga. “Generally, real estate prices are expected to continue to appreciate in the short- to mid-term period, so our affordable pre-owned house and lot packages provide buyers today with great value for their money.” “Through BFS, end-users and investors alike are presented with this rare opportunity to acquire properties at bargain prices. Moreover, the properties which are located in gentrified communities appreciate in value over time; hence, buyers realize home equity which is a big component of personal savings.” explains Ortiga....

Posted by adminbfs on Apr 16, 2012 in Corporate News, Loan Accounts News, Press Room

BFS Addresses 52,000 Financially Challenged Home Borrowers

Mrs. Rosario Briones of Mabalacat, Pampanga, the latest Balikatan borrower to successfully resolve her long outstanding housing loan, receives her TCT from a BFS account specialist. Pioneer mortgage servicing company BFS, Inc. has helped some 21,000 Filipino families to fully resolve their long outstanding and overdue loan obligations, with yet another 27,000 accounts in the resolution pipeline. This was made possible through BFS’ best-practice, end-to-end mortgage servicing platform. BFS, Inc. is the exclusive mortgage servicer and asset manager of the residential mortgage loan portfolio of Balikatan Housing and Finance, Inc. (BHFI). “We are glad that through our efforts, families have reclaimed their homes and have peace of mind,” states BFS Federico Y. Cadiz, Jr. “More importantly, they now have assets in the form of realized home equity, which for individual families is the largest component of personal savings—savings that may increase as their homes appreciate in value over time and may be passed on to their loved ones.” The most recent borrowers to successfully settle their obligation are Mr....

Posted by adminbfs on Apr 16, 2012 in Corporate News, Press Room

BFS Engages Towers Watsons

Towers Watsons’ Rafael Lucien Cepeda and Patrick V. Marquina and BFS’ Elizabeth Gilson, Amelia Hocson, and Ma. Johanna Clemente sign a contract for the Job Re-grading Project Last October 2011, BFS signed a contract on a Job Re-Grading Project with Towers Watson, a leading global consultancy firm providing professional services in the areas of people, risk, and management. The purpose of the project is to update BFS’ existing Job Grading Chart. It also aims to ensure that most, if not all, positions in the company are thoroughly evaluated, properly slotted in the correct job grade, and clustered together with other jobs of relative worth to the organization. The basis of the job grading is the job descriptions accompanied by interview sessions involving the department heads, Human Resources, and Towers Watson representatives. HR kicked off the project by facilitating a “Guide to Writing Job Descriptions (JD)” orientation for all department heads in utilizing the new template to revise JDs for positions in their respective departments. Standardized information results in more...