CHARTER & MANDATES

1. Under its original Charter, P.D. No. 1267 dated December 21, 1977, the NHMFC was created primarily for the purpose of developing and providing for a secondary market for home mortgages granted by public and/or private home financing institutions.

Per E.O. 901 dated December 17, 1986, the NHMFC was designated as the major home mortgage market through purchase of mortgages origination by both private and public institutions.

2. Under E.O. 90, the NHMFC was tasked with the development of a system that will attract private institutional funds into long term housing mortgages.

3. Under R.A. 7279, the NHMFC was designated as the administrator of the Community Mortgage Program.

4. Under R.A. 6846, which was later amended by R.A. 7835, the NHMFC was designated as the administrator of the Amortization Support Program, Social Housing Development Fund and Mortgage Trading Support Program.