Added: Jun 19, 2008 3:45 pm
The U.S. Department of Housing & Urban Development intends to procure Master Subservicer services to perform the complete range of services expected of a Ginnie Mae issuer. These services include, but not limited to servicing current, delinquent and defaulted loans, both pooled and non-pooled, including foreclosure services, management and disposition of acquired properties (REO), preparation and submission of insurance or guarantee claims to FHA, VA, RD, and PIH, reporting to Ginnie Mae. The Contractor shall also provide, on a monthly basis, the accounting reports to Ginnie Mae (example of reports are attached). The Contractor shall have an automated process for producing the Ginnie Mae monthly accounting reports.
The Contractor shall maintain a readiness to execute simultaneous multiple issuer defaults, including defaults of the largest Ginnie Mae issuers those with more than $10 billion in Ginnie Mae pools.
The Contractors that are awarded Ginnie Mae s Master Subservicer contract must have the ability to service one or more defaulted MBS portfolios. Furthermore, the Contractor must have knowledge in servicing HECM loans. The Contractor should understand the specific program requirements outlined in the Ginnie Mae s Mortgage-Backed Securities Guide 5500.3 (Ginnie Mae Guide) and be able to fulfill the monthly reporting requirements. In addition to complying with specific FHA, VA, RD, PIH and Ginnie Mae servicing requirements for loans, the Contractor shall adhere to all other requirements contained in the statement of work.
An eligible Offeror under this solicitation shall demonstrate that it is an approved Ginnie Mae issuer and maintains current MBS issuer eligibility. Failure to satisfy this requirement shall render Offeror s proposal ineligible for further consideration.
Ginnie Mae requires the services of a Master Subservicer. An eligible Offeror under this solicitation shall demonstrate that it meets the following requirements:
It is an approved Ginnie Mae Single Family Issuer.
It possesses IT infrastructure to support the services as described in the Statement of Work (SOW)
It is capable of completing Transition In, including certification accreditation by Ginnie Mae, under National Institute Science Technology (NIST) the SOW in six months from date of award.
Failure to satisfy these three requirements shall render the Offeror s proposal ineligible for further consideration.
HUD anticipates multiple awards for these services in accordance with Federal Acquisition Regulation Part 12 for Commercial Items. The period of performance is approximately five (5) years including all options. It will be awarded on the basis of best value to the government in consideration of both price and non-price factors.
