Social Housing Finance Corporation
1. Definition
The Social Housing Finance Corporation (SHFC) is a government-owned and controlled corporation in the Philippines under the Department of Human Settlements and Urban Development (DHSUD). The SHFC is the lead government agency responsible for implementing socialized housing programs for low-income families, primarily executing the Community Mortgage Program (CMP) to secure land tenure. (Official Gazette)
2. Alternate Names
- SHFC
- SHFC Philippines
- Social Housing Finance Corp.
3. Recognized Identities
| Source Type | Identity |
|---|---|
| Wikipedia | Social Housing Finance Corporation |
| Wikidata | Q24204555 |
| DBpedia | N/A |
| ProductOntology | N/A |
| Wiktionary | N/A |
| Library of Congress Subject Headings (LCSH) | Housing — Finance — Government policy — Philippines |
| MeSH | N/A |
| NCBI Taxonomy | N/A |
| AGROVOC | N/A |
| Google Scholar | Social Housing Finance Corporation SHFC Community Mortgage Program socialized housing finance |
| ConceptNet | N/A |
| OpenCyc | N/A |
4. Examples of Usage
- Community Mortgage: SHFC financing the land acquisition of an urban poor association under the Community Mortgage Program.
- Socialized Housing Philippines: The main canonical article details the price caps, balanced developer quotas, NHA projects, and housing laws.
5. Usage Scenarios
1. Financing local land purchase
A homeowners association partners with SHFC to buy an informal settlement land parcel from its private owner.
2. Upgrading informal housing
SHFC releases site development loans to build drainage and concrete roads in a community mortgage site.
6. Strategies
- Cross-reference community financing frameworks and socialized housing programs with the main Socialized Housing Philippines article.
- Form homeowners associations early to comply with SHFC community mortgage application guidelines.
7. Security and Safety Measures
- Ensure that community mortgage land purchases are backed by clean, verified Transfer Certificates of Title.
- Verify that community housing layout plans satisfy the safety codes and easement rules of the local government.
8. Historical Context
The Social Housing Finance Corporation was established in 2004 under Executive Order No. 272, taking over the administration of the Community Mortgage Program and the Abot-Kaya Pabahay Fund from the National Home Mortgage Finance Corporation. With the creation of DHSUD in 2019, SHFC became an attached corporation focused on community-based financing.
9. Challenges and Controversies
Delayed Loan Processing
Complex documentation and title verification steps can stretch SHFC loan approvals over several years, affecting land sellers.
High Community Default Rates
Economic challenges in low-income families can lead to defaults on community mortgage amortizations, requiring loan restructuring.
10. Related Topic
- [[Socialized Housing Philippines]]
- [[DHSUD]]
- [[Zoning]]
- [[National Housing Authority (NHA)]]