{"id":3009,"date":"2012-01-27T03:20:58","date_gmt":"2012-01-27T03:20:58","guid":{"rendered":"http:\/\/newspaper.ctsi-logistics.com\/?p=3009"},"modified":"2012-01-27T03:20:58","modified_gmt":"2012-01-27T03:20:58","slug":"funds-home-loan-program-for-sale","status":"publish","type":"post","link":"https:\/\/www.saipantribune.com\/index.php\/funds-home-loan-program-for-sale\/","title":{"rendered":"Fund&#8217;s home loan program for sale"},"content":{"rendered":"<div>By Moneth Deposa<br \/>\nReporter<\/div>\n<p>The NMI Retirement Fund is selling its member home loan program after its board of trustees approved yesterday the issuance of a request for proposal.<\/p>\n<p>Board chair Sixto K. Igisomar told Saipan Tribune that selling the program will allow the Fund to concentrate on the pension plan.<\/p>\n<p>Other programs under the agency such as the Workers Compensation Commission and the Group Health Life Insurance Program are also being considered for transfer to other agencies, Igisomar said.<\/p>\n<p>Bills now pending at the Legislature propose to transfer WCC to the Commerce Department and the GHLIP to either the Office of Management and Budget or Office of Personnel Management.<\/p>\n<p>Fund records show that there are 106 loans under the program; 31 are considered bad loans or delinquents. Of these bad loans, only two can be potentially collected while the rest are classified as \u201cdead accounts.\u201d<\/p>\n<p>\u201cI know there are some differences in opinion among members and trustees in the past and even now.and I understand that.but you just don&#8217;t wait until you have 80-percent delinquency when nobody wants to buy it anymore,\u201d Igisomar said. He believes that selling the program now is \u201csomething that we need to do\u201d at this time.<\/p>\n<p>The Fund has a total investment of $5.5 million in the program. As of December 2010, bad loans amounted to nearly $800,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Moneth Deposa Reporter The NMI Retirement Fund is selling its member home loan program&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3009","post","type-post","status-publish","format-standard","hentry","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/3009","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=3009"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/3009\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=3009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=3009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=3009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}