Release of Funds to the National Home Mortgage Finance Corporation
Letter of Instructions No. 1524, issued on February 6, 1986, authorizes the release of P305 million from the National Government to the National Home Mortgage Finance Corporation (NHMFC). This funding is intended to enhance NHMFC's capacity to operate the Secondary Mortgage Market System effectively. The directive is addressed to the Ministers of Finance and Budget, emphasizing the urgency for immediate compliance. The letter reinforces the government's commitment to supporting housing finance initiatives in the Philippines.
Law Information
- Reference Number
- Letter of Instructions No. 1524
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
February 6, 1986
LETTER OF INSTRUCTIONS NO. 1524
AUTHORIZING THE RELEASE OF FUNDS TO THE NATIONAL HOME MORTGAGE FINANCE CORPORATION
TO : The Minister of Finance; The Minister of the Budget:
Pursuant to Presidential Decree No. 1267 creating the National Home Mortgage Finance Corporation (NHMFC), and to enable NHMFC to operate efficiently the Secondary Mortgage Market System, you are hereby directed to release the balance of the equity contribution of the National Government to the NHMFC in the sum of three hundred five million pesos (P305,000,000.00). aisa dc
For immediate compliance.
DONE in the City of Manila, this 6th day of February, in the year of Our Lord, Nineteen Hundred and Eighty-Six.
Cite This Law
Release of Funds to the National Home Mortgage Finance Corporation, Letter of Instructions No. 1524, Feb 6, 1986 (Philippines)
Release of Funds to the National Home Mortgage Finance Corporation, Letter of Instructions No. 1524 (Phil. 1986)
Related Laws
- Creating a National Home Mortgage Finance Corporation, Defining its Powers and Functions, and for Other PurposesPresidential Decree No. 1267 • Dec 21, 1977 • Presidential Issuances
- Implementation and Administration of the Home Development Mutual FundsLetter of Instructions No. 870 • Jun 4, 1979 • Presidential Issuances
- Creation of the Social Housing Finance CorporationExecutive Order No. 272 • Jan 20, 2004 • Presidential Issuances
- Release of Appropriations Under R.A. No. 7835 to the National Shelter ProgramMemorandum Order No. 341 • Feb 21, 1996 • Presidential Issuances
- Support for the Secondary Mortgage Market SystemLetter of Instructions No. 1523 • Feb 6, 1986 • Presidential Issuances
- Release of Funds To Finance the Investments for Alcohol Storage and Blending FacilitiesLetter of Instructions No. 983 • Feb 1, 1980 • Presidential Issuances
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