Section 22Sec./Art. 22

Attached Corporations. - The Department shall exercise administrative supervision over the following housing agencies, which shall remain to be attached for purposes of policy and program coordination, monitoring and evaluation:

(a) National Housing Authority (NHA);

(b) National Home Mortgage Finance Corporation (NHMFC);

(c) Home Development Mutual Fund (HDMF); and

(d) Social Housing Finance Corporation (SHFC).

The attached corporations shall continue to function according to existing laws and their respective Charters, subject to the policy directions of the Board.

The appointment of the Board of Directors or Trustees of the attached GOCCs shall be in accordance with Republic Act No. 10149, otherwise known as the "GOCC Governance Act of 2011". However, each of the heads of the attached corporations shall enter into a performance contract annually with the Secretary in accordance with their respective mandates, which shall be consistent with the national targets on human settlements and urban development, and the overall administration of the corporation.

Furthermore, within two (2) years from the effectivity of this Act, the Secretary, in coordination with the Governance Commission for GOCCs (GCG), shall recommend to the President, the restructuring of the foregoing corporations guided by the objectives found hereunder:

(a) To eliminate overlaps, if any, in programs, within and among the attached corporations, that serve the same beneficiaries or clientele;

(b) To identify functions and programs of corporations that properly belong to regular government agencies such as policymaking, regulation, standard setting, and service provision from functions that are imbued with commercial motives which require a corporate structure. Thereafter, line functions shall be transferred to the Department while commercial functions shall be retained with the corporations;

(c) To clarify the role of each corporation along the housing value chain, including housing production, primary financing, secondary market development, and housing insurance and guarantee to promote the development of a comprehensive and synergetic housing industry; and

(d) To strengthen integration of functions, programs, and services among the corporations and the Department to leverage limited public resources and maximize the value of housing products and services offered by the public sector.

Any reorganization, merger, streamlining, abolition or privatization of any attached corporation shall be formulated and implemented in coordination with the GCG and in consultation with the GOCC concerned and the relevant provisions of Republic Act No. 10149.

CHAPTER VII

OTHER PROVISIONS