In a letter issued by Malacañang on Monday (September 19), Marilene C. Acosta has been appointed as Acting CEO of Pag-IBIG Fund, succeeding Rizaldy P. Moti as head of the country’s leading mortgage agency.
Acosta, who hails from Narvakan, Ilocos Sur, has been with the Pag-IBIG Fund since 1981. A Certified Public Accountant (CPA) and Professional Executive Services Officer (CESO) V, Acosta has risen through the ranks since beginning her career as an accountant in the Baguio Regional Office of the Pag-IBIG Fund. During her tenure as Executive Vice President of the Pag-IBIG Home Lending Fund from March 2017 to September 2022, the agency issued consistent record numbers of housing loans, which then enabled a record number of members to own their homes.
“I am grateful for the confidence that President Ferdinand Marcos Jr. and our President, DHSUD Secretary José Risalino Acozar have given me for his appointment to this position. I also thank outgoing CEO Moti and my colleagues Lingkod Pag-IBIG for their support, as well as the Organization of Social and Economic Housing Developers of the Philippines (OSHDP), Inc. and Subdivision and Housing Developers Association (SHDA), Inc. for their endorsement. I assure them all, as well as our members, partners, developers, employers, partners and stakeholders that we at Pag-IBIG Fund will remain committed to providing them with responsive and excellent service. You have prepared me over 40 A year of public service in the Pag-IBIG Trust will do well for this position, and I will make best use of everything I have learned over the past four decades to ensure that we continue to carry out our mandates and in providing Tapat na Serbisyo, Mula sa Puso,” Acosta said.
Meanwhile, the outgoing CEO of Pag-IBIG Fund, Akmad Rizaldi Moti, praised Acosta’s appointment. He said that this would ensure the continuity of the agency’s orientations towards preserving and building on the many gains it achieved in recent years.
“Acosta CEO’s drive, excellence, integrity and determination are among the key factors that have enabled the Pag-IBIG Fund to achieve many record achievements and milestones, particularly in the real estate field. Her appointment will allow the continuity and sustainability of Pag-IBIG Fund’s efforts to advance the lives of All Filipino workers. Really wish her and Pag-IBIG all the best,” Muti said. Moti left the Pag-IBIG fund at its strongest ever, posting big increases in key metrics from 2016 — the year before he took over as CEO. As of August 2022, the agency has total assets of 795.93 billion pesos, an increase of 81% from 439.30 billion pesos at the end of 2016; Release of a home loan of 100.8 billion pesos in 2021, an increase of 76% over the annual borrowing of a home loan of 57.3 billion pesos six years ago; 25.95 billion pesos voluntarily provided by members in MP2 savings in 2021, an increase of 3.065% over $0.82 billion saved in 2016; investable funds of 92.56 billion pesos, up 49% from 62.15 billion in 2016; And an annual net income of over 30 billion pesos for five consecutive years since 2017.