Bill 662 clears first debate on closing the state mortgage bank by 2027
If your Panama housing story runs through the Banco Hipotecario Nacional (BHN)—a social mortgage, a subsidized lot, or a title that never quite finished—the Assembly just moved the wind-down from rumor to legislative track.
In late September 2026 (press dated 23–24 September), the Assembly’s Comisión de Infraestructura Pública y Asuntos del Canal approved Proyecto de Ley 662 in first debate. The Executive-backed bill orders a progressive, total closure of BHN operations, starting when the law is promulgated and finishing no later than 31 December 2027, with an Institutional Transition Plan and a Transition Committee (En Segundos, Panamá América).
Who would do what after BHN
Coverage is consistent on the split of roles:
- Miviot keeps social-housing policy and would administer BHN real estate and land dedicated to those programs (assets pass to the Nation for Miviot use).
- Caja de Ahorros would handle mortgage financing, credit administration, and related financial products—likely through fideicomisos (trusts). The Superintendencia de Bancos told the committee that trust structure is viable.
- A new Dirección del Fondo de Vivienda Nacional under Miviot would manage subsidies, interest-rate supports, and land acquisition/registration.
- Social-housing PPPs appear with a maximum 49% state share via Caja de Ahorros trusts.
Housing Minister Jaime Jované framed the political promise as rescue-and-title: families who have lived for 15–20 years in properties with messy records should be able to regularize and get a clean title once debts are cleared (En Segundos).
The ugly number on the table
BHN manager Alberto Ortega confirmed in debate a B/.100 million non-performing portfolio. Caja de Ahorros consumer-banking manager Santino Tapia said a year-long review found a technical financial bankruptcy and portfolios that are poorly identified or unregistered—so absorption is not a simple overnight migration. That is why the trust vehicle and staged transition matter.
What this is not
Bill 662 is not finished law. First debate clears the committee stage; second and third debates (and possible amendments) remain. It is also not a cancellation of every borrower’s debt. The public pitch is continuity of service plus cleanup—not a holiday from payment.
Bottom line for expats: most foreign buyers never touch BHN—but if you bought social housing, inherited a BHN-linked lot, or your PH sits next to a BHN project with cloudy titles, this is the clock and the new counterparty map (Miviot for policy/land, Caja de Ahorros for credit ops). Keep payment proofs and ask, in writing, who will service your loan after transfer.
Based on En Segundos (24 Sep) and Panamá América (23 Sep). First debate only.
Key points
- 1er debate OK; cierre progresivo hasta 31 dic 2027
- Miviot = política/vivienda social + tierras; Caja de Ahorros = cartera/crédito
- Mora citada: B/.100 millones (gerente BHN en debate)
- Caja: “quiebra técnica” / carteras mal registradas → fideicomiso
- Aún no es ley
Sources
- https://ensegundos.com.pa/2026/09/24/aprueban-en-primer-debate-proyecto-662-que-ordena-cierre-del-bhn/
- https://www.panamaamerica.com.pa/economia/avanza-en-la-asamblea-el-cierre-del-bhn-caja-de-ahorros-y-miviot-asumiran-sus-funciones
- https://www.critica.com.pa/nacional/avanza-el-cierre-del-bhn-detectan-b100-millones-en-cartera-morosa-516908