LRA Extension Office Opens at BPI Family Savings Bank

The Land Registration Authority (LRA) recently opened its extension office in the premises of BPI Family Savings Bank headquarters, as a result of the first-ever private bank partnership forged by LRA with BPI Family last year.

Now through its installed facilities at BPI Family Savings Bank, the country’s leading provider of real estate mortgage loans, LRA makes it convenient, more efficient and secure for BPI Family Bank and its clients to do title verification through a web-enabled system.

The LRA kiosk also allows BPI and BPI Family Savings Bank to request for LRA-approved Certified True Copies of Certificate of Title (CTCCT) in a breeze. The CTCCT can be retrieved in electronic form through the “Anywhere-to-Anywhere” (A2A) system of LRA. A2A is the system capable of accessing the CTCCT from the different Registry of Deeds (RDs) nationwide. The Bank can even inquire on the status of land titles registered outside Metro Manila, also enabling the Bank’s nine (9) provincial Business Centers to benefit from the LRA extension office.

The facility provides easy and fast printing of the CTCCT, while the assurance of an authentic title of the property being offered as collateral to the Bank would help hasten the review and approval of Title Verification Reports (TVR). “Turn-around-time on our credit approval will surely be enhanced, and there will also be a more efficient way of handling fees,” says Mr. Dave Sarmiento, SVP and Division Head of Auto Loan and Credit Services.

“We at LRA have recognized BPI Family Savings Bank’s long-standing efforts and time-proven systems that make transactions easy and convenient for its clients. Being the first to come up with the Automated Teller Machine, we believe that BPI’s expertise in technology is tested in ensuring smooth technical operations such as the A2A. The installed system helps eliminate manual title verification and manual errors providing more secured keeping of information,” says Hon. Eulalio Diaz III, LRA Administrator.

“We are very happy because, one, we already have the LRA’s facilities here inside the Bank. Two, because this only means we are extending transparent, efficient and secured services to the Filipinos with regard to their property,” says Mr. Jose Teodoro Limcaoco, BPI Family President.

In photo: (L-R) Delfin Hallare, LARES President; Eulalio Diaz III, LRA Administrator; Ronald Ortille, LRA Deputy Administrator; BPI Representatives: Celyn Sta. Ana, SVP and Division Head of Retail Mortgage; Dave Sarmiento, SVP and Division Head of Auto Loan and Credit Services; Glenn Varron, AVP, Credit Policy Group; Kit Mananghaya, VP, Credit Services and Auralyn Torres, VP, Credit Policy Group

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