The Social Housing Finance Corporation (SHFC) was created through Executive Order No. 272 (E.O.272), which directs the transfer of the Community Mortgage Program (CMP), Abot Kaya Pabahay Fund (AKPF) Program, and other social housing powers and functions of the National Home Mortgage Finance Corporation to the SHFC.

Under E.O. 272, the SHFC shall be the lead government agency to undertake social housing programs that will cater to the formal and informal sectors in the low-income bracket and shall take charge of developing and administering social housing program schemes, particularly the CMP and the AKPF Program (amortization support program and development financing program).

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