RESOLVED, to APPROVE and CONFIRM the suspension of all GSIS housing loan programs effective 28 April 2011 in line with the thrust to adopt wholesale approaches to asset sales and to wind down GSIS housing programs in favor of working with other agencies for housing concerns.

In this regard, the following guidelines shall be observed:

1. No new housing loan applications, including loans on acquired assets, shall be received starting on the said effective date.
   
2. However, applications and existing housing loans prior to the said date shall continue to be processed and serviced.
   
3. Policies and procedural guidelines for GSIS housing programs shall remain in effect only for the above mentioned existing housing loans and applications until such loans and applications are exhausted.
   
4. Disposition of acquired assets, however, shall continue but on a cash basis only.

Adopted: 28 April 2011