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• SRN-1094, as Filed
  5/27/2009 122.2KB

Long title

RESOLUTION DIRECTING THE SENATE COMMITTEES ON URBAN PLANNING, HOUSING AND RESETTLEMENT; AND ACCOUNTABILITY OF PUBLIC OFFICERS AND INVESTIGATIONS TO IMMEDIATELY CONDUCT AN INVESTIGATION INTO THE NATIONAL HOME MORTGAGE FINANCE CORPORATION'S (NHMFC) AUCTION OF MORE THAN 53,000 DELINQUENT HOUSING LOANS TO DEUTCH BANK REAL ESTATE GLOBAL OPPORTUNITIES (GLOBAL) IN 2004 AND THE CONSEQUENT CREATION OF A JOINT VENTURE SPECIAL PURPOSE VEHICLE CALLED BALIKATAN HOUSING FINANCE INC. (BALIKATAN) WHICH OTHERWISE RESULTED IN HIGHER INTEREST RATES AND EXORBITANT DOWNPAYMENT HOUSING LOAN RESTRUCTURING SCHEME TANTAMOUNT TO A QUESTIONABLE PUBLIC SERVICE ACCOUNTABILITY PURSUANT TO CONSTITUTIONAL AND STATUTORY MANDATES

Scope

National

Legislative status

Pending in the Committee (5/26/2009)