Section 25Republic Act No. 6758, otherwise known as the Salary Standardization Law, and from other laws, rules and regulations on salaries and compensations; and to establish a Provident Fund and determine the , Sec./Art. 25

Participation of Financing Institutions and Other Investors.

(a) All banking institutions, trust companies, personal finance companies, mortgage companies, building and loan associations, savings and loans associations, installment lending companies, insurance companies, the GSIS, the SSS, the Development Bank of the Philippines (DBP), and other government financing institutions or other government owned and controlled operations, are hereby authorized to invest part of their funds for the purpose of giving loans and advances of credit contemplated provided in this Act, as well as on the purchases of obligations representing loans and advances of credit made pursuant to the provisions of this Act, any provision of their respective charters or by-laws to the contrary notwithstanding.

All housing loans, within the loan ceiling fixed by the foregoing government institutions shall be guaranteed by the Corporation under the provisions of this Act.

All mortgagee institutions participating in the mortgage guaranty program shall be bound by the terms and conditions of the guaranteed mortgage loans as may be approved by the Corporation. Any amount invested by all foregoing entities in the financing or mortgage loans for housing development under this Act shall be guaranteed both the Corporation and the government of the Republic of the Philippines.

(b) The aforementioned government financing institutions are hereby authorized to constitute the secondary market for guaranteed and shall;

1) Purchase, service or sell mortgages which are guaranteed under the provisions of this Act.

2) Subject to the approval of the Monetary Board of the Bangko Sentral ng Pilipinas, issue bonds, debentures, securities, collaterals and other obligations against the security of mortgage as their respective boards may designate and such obligations may be issued and offered for sale at such price or prices as the particular government institutions may determine, and shall be negotiable and exempt from taxes both as to principal and interest, subject to section 19 hereof.