National Home Mortgage Finance Corporation

Best Practice Focus Area/s

Strategy, Citizens, Customers, Operations

Year Implemented

26 October 2020

This is a GBPR entry


The Online Housing Fair 2020 is the first online public housing fair conducted by a key shelter agency initiated by the Acquired Asset Division, Asset Management Department, and the Fund and Asset Management Group. This is a collaborative project with the Information Systems and Technical Support Division. Despite the varying community quarantine restrictions because of the COVID-19 pandemic, the NHMFC continued to deliver its service to the people and use information and communications technology to reach its clientele better.

Background and Problem

The corporation is conducting an annual housing fair to sell properties acquired through foreclosures. This initiative is intended to ensure the corporation’s assets are performing at an above-average collection efficiency rate. Before COVID-19, they conducted the housing fair face to face in the corporation’s head office or other venues. The community quarantine restrictions and health protocols hindered the corporation from conducting a housing fair.

Screenshot of the Online Housing Fair streamed on the NHMFC Facebook Page last 20 November 2020.

Solution and Impact

The Online Housing Fair 2020 changed the landscape of Key Shelter Agency housing fairs. At the onset of the pandemic, the housing fair team determined the migration of the event to be 100% online. With the full support of the Information Systems and Technical Support Division, they developed a fully automated housing fair program. This program covers the interactive listing of the acquired properties for sale, the registration of the participants, the submission of bids, and the automated selection of the most responsive bidder, up to the opening of the bids. The opening of bids was wrapped up twice faster than ever because bid results were generated electronically. The Online Housing Fair was interactive, contactless, seamless, and boundless nationwide. It greatly facilitated the fulfillment of NHMFC’s GCG Targets for CY 2020, specifically Strategic Measure #5–“Reduction of Non-performing Assets” and Strategic Measure #6 –“Percentage of Satisfied Individual Customers.”

The Online Housing Fair 2020 is instrumental in reducing nonperforming assets of the corporation and converting the same into performing loans that can now be eligible for asset pooling and securitization of mortgage receivables, consistent with its mandate. Moreover, the program generated a projected income of Php 12 million, contributing to income generation and reduction of nonperforming assets targets of the corporation. The Online Housing Fair 2020 also contributed to the increase in the monthly collections received by the Corporation and effectively increased the Collection Efficiency Rate (CER) performance. The generated fund under the program was channeled back to nance new housing loan receivables take-outs and help the corporation to increase the number of its mortgage receivables portfolio.


The housing fair team was awarded a Special Recognition Award during the Program on Awards and Incentives for Service Excellence (PRAISE) CY 2020. The corporation’s housing fairs will now be conducted online at least once a year and more frequently moving forward.

During the height of the pandemic last year, one of the sectors greatly impacted was real estate. Everyone is trying to keep funds as liquid as possible. The housing market was down because people were not ready to purchase a home amid uncertainties. Additionally, implementing the BayanihanHeal as One Act mandated all financial institutions to offer a moratorium and grace period in mortgage payments. At the same time, interest rates were forced to go down to support the economy’s viability. It was a blessing for NHMFC that people enjoyed the housing fair in the comforts and safety of their homes. Despite the uncertainties, 101 properties were sold, and 13 were paid in cash.