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(NAR) VOL. 18 NO. 4/OCTOBER - DECEMBER 2007
[ GSIS RESOLUTION NO. 74, April 25, 2007 ]
DISPOSITION OF ACQUIRED ASSETS SUBJECT OF CANCELLED DEED OF CONDITIONAL SALE AND FORECLOSED REAL ESTATE LOAN ACCOUNTS
RESOLVED, to APPROVE the two (2) Programs which have been drawn up by the Housing and Real Property Development Group (HRPDG) in order that the GSIS inventory of acquired assets which has grown and now represents a substantial portion of GSIS’ investments should now be moved to generate funds and at the same time give existing housing loan account holders some relief in financing their accounts thru increase of the account holders’ consumable income, to wit:
RESOLVED, FINALLY, to APPROVE the Policy and Procedural Guidelines on the Disposition of Acquired Assets Subject to Cancelled Deed of Conditional Sale and Foreclosed Real Estate Loan Accounts and the Policy and Procedural Guidelines on Rate Reduction Program-Sais and Interest sa Lahat (SAIS), copies of which are hereto attached* and made an integral part of this Resolution.
Both PPGs shall take effect upon Board approval.
Adopted: 25 April 2007 (Board Meeting No. 8)
* Text Available at Office of the National Administrative Register, U.P. Law Complex, Diliman, Quezon City
1. GMA HELPS - or “Garantisadong Mababang Amortization - House and Lot Para sa Iyo”; and
2. the “SAIS” - “Sais ang interest para sa lahat”
under the terms and conditions stipulated in the respective proposed Policy band Procedural Guidelines (PPGs).
RESOLVED, FINALLY, to APPROVE the Policy and Procedural Guidelines on the Disposition of Acquired Assets Subject to Cancelled Deed of Conditional Sale and Foreclosed Real Estate Loan Accounts and the Policy and Procedural Guidelines on Rate Reduction Program-Sais and Interest sa Lahat (SAIS), copies of which are hereto attached* and made an integral part of this Resolution.
Both PPGs shall take effect upon Board approval.
Adopted: 25 April 2007 (Board Meeting No. 8)
* Text Available at Office of the National Administrative Register, U.P. Law Complex, Diliman, Quezon City