Preamble
WHEREAS, under Presidential Decree No. 957, the National Housing Authority is vested with the exclusive jurisdiction over the real estate trade and business; WHEREAS, the Decree did not expressly provide the means to enforce its decisions in favor of the prevailing party, thereby rendering such decisions inutile; WHEREAS, many subdivision lot buyers have been appalled by the inability of the National Housing Authority to enforce decisions rendered in their favor, thereby giving rise to disillusionment and skepticism about the noble objectives of Presidential Decree No. 957; and WHEREAS, it has become necessary to strengthen the powers of the National Housing Authority to enable it to enforce and execute its decisions. NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby decree and order: