Guidelines for the Implementation of the Provisions of Republic Act No. 11494 for Existing Residential, Commercial, Industrial and Institutional Accounts of NHA
NHA Memorandum Circular No. 055-20 outlines guidelines for implementing provisions of the Bayanihan to Recover as One Act (RA No. 11494) concerning existing accounts under the National Housing Authority (NHA). It grants a two-month automatic moratorium on monthly amortizations or lease payments for residential account holders, effective from November 1 to December 31, 2020, with no additional interest charges during this period. Additionally, the circular waives delinquency interest for commercial, industrial, and institutional accounts due in the same timeframe. The memorandum mandates that the Corporate Operations and Systems Development Department ensure proper implementation and reporting, and that information is disseminated to the public. The guidelines are effective immediately upon approval.
October 9, 2020
NHA MEMORANDUM CIRCULAR NO. 055-20
| SUBJECT | : | Guidelines for the Implementation of the Provisions of Republic Act No. 11494 (Bayanihan to Recover as One Act) for Existing Residential, Commercial, Industrial and Institutional Accounts of NHA |
1.0 BACKGROUND
Pursuant to Republic Act No. 11494 (An Act Providing for COVID-19 Response and Recovery Interventions and Providing Mechanisms to Accelerate the Recovery and Bolster the Resiliency of the Philippine Economy, Providing Funds Therefor, and for Other Purposes, otherwise known as the Bayanihan to Recover as One Act) dated September 11, 2020, this Memorandum Circular is hereby issued to prescribe guidelines on the two (2) months grant of the following: HTcADC
• Automatic moratorium or suspension of monthly amortization or lease payments of residential account holders in NHA projects
• Waiver of delinquency interest for the monthly amortization or lease payments of Commercial, Industrial and Institutional (CII) accounts in the Regions
This Circular further supplements the following MCs:
• No. 2020-025 (Guidelines for the Grant of Automatic Moratorium on Housing Loan Amortization or Lease Payments of Residential Account Holders in NHA Projects Due to the COVID-19 State of Public Health Emergency) dated March 20, 2020
• No. 2020-030 (Guidelines on the Waiver of Delinquency Interest on Commercial, Industrial and Institutional Accounts within the Spirit of RA No. 11469 (Bayanihan to Heal as One Act) and Presidential Proclamation No. 929 (Declaring a State of Calamity Throughout the Country Due to COVID-19) dated April 27, 2020
2.0 COVERAGE
This Circular shall cover all NHA existing accounts:
2.1 Residential account holders in NHA housing projects which may include individuals or Community Associations.
2.2 Estate and non-estate-based CII accounts in the Regions with:
• Updated accounts as of October 31, 2020
• Active accounts with arrears up to three (3) months as of October 31, 2020
3.0 SPECIFIC GUIDELINES/PROCEDURES
3.1 Automatic moratorium or suspension of monthly amortization or lease payments of residential accounts
• The payment of amortization falling due from November 1 to December 31, 2020 shall be suspended. Payments shall resume on January 1, 2021.
• Delinquency or additional interest charges shall not be imposed on suspended amortization due.
• Any payment made within the moratorium period shall be applied according to the existing hierarchy of payments.
• The term/repayment period for these existing Residential account holders shall be extended for a maximum of two (2) months depending on the status of the account holder under moratorium.
• This moratorium shall be given automatically by NHA to all existing Residential account holders, as such, they need not apply for moratorium.
3.2 Waiver of delinquency interest for the monthly amortization or lease payments of CII accounts
• Waiver of delinquency interest shall be granted for the monthly amortization or lease payments of CII accounts that fall due reckoned from November 1 to December 31, 2020.
• The grant to waive the delinquency interest shall not preclude CII awardees/lessees from paying their monthly amortization/rental dues to the Authority as they fall due or for the purpose of updating their account.
• The Authority shall continue to accept payments tendered by its CII awardees/lessees in the form of cash or cash equivalents, which include Post-dated Checks (PDCs) of the awardees/lessees already deposited or for deposit by the Regional/District Office in designated government depository banks.
4.0 RESPONSIBILITIES FOR IMPLEMENTATION OF THE CIRCULAR
4.1 The Corporate Operations and Systems Development Department (COSDD) shall ensure completion of the Utility Program by November 16, 2020 and that the concerned District Offices make the appropriate adjustments in their Billing and Collection System (BCS) in accordance with the provisions of this Circular.
4.2 The Finance Unit-District Offices shall ensure downloading and use of the BCS Utility Program, and submission of the year-end report on the implementation of this Circular to Management through the Accounts Management Division-Financial Services Group (for residential accounts) and Commercial and Industrial Estates Department (for CII accounts) by January 15, 2021.
4.3 The Information Division of the Corporate Planning Department shall provide the necessary information dissemination on this Circular through the posting of the Pahayag at the NHA Facebook and Website and forwarding the information to radio and television stations.
5.0 EFFECTIVITY
This Circular shall take effect immediately upon approval. All concerned shall be guided accordingly.
(SGD.) MARCELINO P. ESCALADA, JR.General Manager