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For standard and uniform implementation, the following policies on the Determination of Retention Fees for Developer-Assisted Housing Loan Accounts and Transfer/Registration Fees for Retail Housing Loan Accounts are hereby issued:

1.    The retention fee  for  developer-assisted housing loan accounts and the transfer/registration fee for retail housing loan accounts shall be at a rate depending on the following:

Loan Amount	Up to P500 , 00	Ove r P500 , 000 to P2 , 000, 000	Ove r P2,000,000 to P6, 000, 000
Bureau of Internal Revenue (BI R)	3 . 5%	5 . 0%	8 . 0%
Registry of Deeds (RD)	3 . 0%	1 . 5%	1 . 0%
Local Government Unit (LGU)	1 . 0%	1 . 0%	1 . 0%
Tota l	7 . 5%		10 . 0%

2.    In case the developer is exempted from the payment of tax, no retention fee shall be deducted from the housing loan takeout proceeds up to the extent of the said exemption; provided, the developer shall furnish Pag-IBIG Fund with proof of Certificate of Tax Exemption issued by the SIR Commissioner.

This shall repeal Section II.1 of Pag-IBIG Fund Circular No. 388, or the Additional Amendments Relative to the Conversion of CTS to REM under Item C of Circular No. 298 and Item C.3.3.2 of Circular No. 259. All other terms and conditions provided in the said Circular shall continue to be in full force and effect.

This Circular takes effect after fifteen (15) calendar days following the completion of its publication in the Official Gazette or in a newspaper of general circulation.

Please be guided accordingly.