Non-moving loans and receivables
National Housing Authority · 2024
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What Happened?
Category: Financial ManagementIssue: Asset ManagementCertain loans and bridge financing provided by the agency have had no movement or repayments for five years or longer, totaling over 83 million pesos.
Why It Matters
Recommended Actions
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Original Audit Finding Excerpt
"This account also includes loans extended by the NHA for the following programs/projects which are non-moving for more than five years: LR – others represent loans granted to beneficiaries under the various housing projects of NHA, as well as other loans, such as employees’ housing and car loans. It also includes loans granted to beneficiaries for commercial and industrial purposes, housing material loans, small business loans and community mortgage program loans. Additionally, it includes bridge financing to joint venture partners that have been non-moving for five years or more amounting to P83.651 million."