Untransferred Title of Land for Housing Project
National Housing Authority · 2024
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What Happened?
Category: Asset ManagementIssue: Operational DeficiencyLand titles for a housing project were not transferred to the National Housing Authority (NHA), which prevents beneficiaries from receiving their individual titles and securing Pag-IBIG housing loans.
Why It Matters
Recommended Actions
- Work out on the immediate transfer of the title in the name of NHA and the subsequent transfer to the beneficiaries of the program so as not to impede the approval of their loan with the Pag-IBIG Fund.
Original Audit Finding Excerpt
"The title of the land for the New Armed Forces of _ the Philippines (AFP)/Philippine National Police (PNP) Housing Project in Barangays Calumpang and Tartaro-Sibul, San Miguel, Bulacan was not transferred to NHA, resulting in difficulty in giving individual title to the beneficiaries and the possibility of not being able to carry out the plan to take out loan arrangement with Pag- IBIG Fund pursuant to the Tequirement of Section 8.1.3 of the Pag-IBIG Fund Circular No. 396."