'Measures in place to prevent repeat of GA scam'

Pag-IBIG Fund president Darlene Berberabe says stricter measures are in place to prevent a repeat of the Globe Asiatique scam. Berberabe says housing loan applicants are now scrutinized before they borrow money from Pag-IBIG, unlike before when developers were authorized to do so. The buyback guarantee was also removed. Globe Asiatique developer Delfin Lee admitted in a 2010 Senate hearing that he was the one paying for the monthly amortizations of "questionable" buyers, so his company can maintain a high performing accounts ratio and continue to avail of loans from Pag-IBIG. ANC Dateline Philippines, April 8, 2014