DESCRIPTION OF SERVICE
Processing of guaranty call shall commence upon submission by client of Notice of claim with complete required documents within 30 calendar days from date of default of the mortgagor/borrower.

A Guaranty call shall be approved and paid upon client’s compliance with the warranties indicated in the Contract of Guaranty.

CLIENTS
Banks, Housing Developers and other Financial Institutions that have existing guaranty enrollments.

REQUIREMENTS

A. Call Processing

1. Notice of Guaranty Call;
2. Complete and detailed Statement of Account of the borrower certified by the client/Bank ;
3. Statement of Application of Payment certified by the client/Bank;
4. Bank’s Credit Approval/Evaluation Sheet of the Mortgagor/Borrower/Individual Buyer;
5. Transfer Certificate of Title (TCT)/Original Certificate of Title (OCT)/Condominium Certificate of Title (CCT);
6. Appraisal Report at the time of loan release;
7. Latest Appraisal Report on the security/collateral;
8. Notarized Special Power of Attorney executed by the Bank authorizing HGC to take possession of the mortgaged property;
9. Demand letters to borrower;
10. Tax Declaration for Lot/building/Condo unit/ Parking lot, whichever is  applicable;
11. Lot Plan, if applicable;
12. Technical Plans, if applicable;
13. Vicinity Map;
14. Tax Identification Number (TIN) of the Mortgagor/Borrower;
15. Restrictions annotated in the title, if applicable).
    
    Additional Requirements if Real Estate Mortgage (REM)
16. Real Estate Mortgage (REM);
17. Promissory Note (PN);
18. Loan Agreement (LA), if applicable;
    
    Additional Requirements if Contract to Sell (CTS)
19. Contract to Sell;
20. Developer’s Credit Approval/Buyers Information Sheet;
21. Purchase Agreement or Deed of Assignment between the Developer and Client Bank.

B. Call Payment – Original copies of the following:

1. Registered Deed of Assignment and Conveyance, transferring to the HGC all the Bank's rights, title and interests over the loan documents and mortgage contract and in the mortgage property it has acquired through foreclosure or otherwise;
2. Owner's copies of Transfer Certificate of Title (TCT)Condominium Certificate of Title with annotation of the Deed of Assignment and Conveyance ;
3. Updated Real Estate Tax Receipt and tax certificates;
4. Endorsement of Fire Insurance Policy to HGC;
5. Tax declaration for lot/building/Condo Unit/Parking Lot, whichever is applicable;
6. Notice to borrower, duly received by the borrower/mortgagor,  that his/her account has been assigned/conveyed to HGC;
7. Updated, complete and detailed statement of account of the borrower/mortgagor;
8. Updated  Statement of Application of Payment duly certified by the Bank.
   
   Additional Requirements if Real Estate Mortgage (REM)
   
9. Real Estate Mortgage (REM);
10. Promissory Note (PN);
11. Loan Agreement (LA);
    
    Additional Requirements if Contract to Sell (CTS)
    
12. The Deed of cancellation of the CTS and the canceled CTS;
13. Certification that there are no pending claims from the buyers under the Maceda Law on the properties to be assigned to HGC;
14. A Certification that the property subject of the CTS is vacated by the previous owner upon payment by the HGC;
15. Purchase Agreement or Deed of Assignment between the Developer and Client Bank;
16. A certification by the Bank/from the Condominium Corporation or Homeowner's Association that the payment of association dues are up to date, if applicable.

TOTAL PROCESSSING TIME
a) Call Evaluation  -  30 working days
b) Call Payment    -  30 calendar days

SCHEDULE OF AVAILABILITY OF SERVICE
Monday to Friday, 8:00AM to 5:00PM

ADDRESS AND CONTACT INFORMATION
Risk Management and Guaranty Claims Department
Guaranty Group
4/F Jade Building, 335 Sen. Gil Puyat Avenue, Makati City
Direct Lines : (+632) 897-3487, 895-6214;
Telefax : (+632) 896-4114
Emails : mariflor_reyes@hgc.gov.ph, editha_palacio@hgc.gov.ph, ariel_laurente@hgc.gov.ph

HOW TO AVAIL THE SERVICE

Step No.

Client’s Step

Agency’s Action

Duration
of Action

Person
in-Charge

Office Location

1.) Submit the following documents

• Notice of Guaranty Call
• Complete Documentary requirements as per Contract of Guaranty

2.) Accept receiving copy of Notice of Call

1.) Receive Notice of Call and documentary requirements 

Records Officer

2F; 4F Jade Bldg.
335 Sen. Gil  Puyat  Ave. Makati City

3.) Conduct Initial Evaluation (deny or accept as “callable”)

DM-Legal Services Dept.
EVP

2F Jade Bldg.