On February 22, the Social Housing Finance Corporation (SHFC), the lead government agency mandated to undertake socialized housing for low-income families, and the local government of Basud, a third-class municipality in Camarines Norte, inked a memorandum of understanding for the implementation of the Community Mortgage Program (CMP) in the town.

Signing the deal in a virtual ceremony were Mayor Adrian Davoco and SHFC President Atty. Arnolfo Ricardo Cabling, who vowed full support to ensure the success of the housing projects under the CMP. Under the agreement, SHFC will finance lot acquisition, site development, and housing construction for informal settler families living in 29 barangays of the municipality.