CHFA 293-RFP for Single Family Loan Origination System Download PDF

Dear Interested Party: Date: May 6, 2026
REQUEST FOR PROPOSALS FOR
SINGLE FAMILY LOAN ORIGINATION SYSTEM
The Connecticut Housing Finance Authority ("CHFA") requests written proposals from qualified
firms to provide an electronic Loan Origination System ("LOS") for its single-family
homeownership programs.
CHFA will not reimburse for any expenses incurred in connection with this Request for Proposals
("RFP") including, but not limited to, the cost of preparing the initial response and any additional
information requested or travel expenses relating to a presentation. Please be advised that
responses will be considered property of CHFA, are matters of public record, and may be publicly
disclosed by CHFA after the awarding of the contract.
OVERVIEW
CHFA, a body politic and corporate constituting a public instrumentality and political subdivision
of the State of Connecticut, was created in 1969 and operates pursuant to Chapter 134 of the
Connecticut General Statutes, as amended. CHFA's purpose is to help alleviate the shortage of
affordable housing for low and moderate-income families and persons in Connecticut by providing
single-family mortgages, financing for rental housing, and mortgages for the purchase,
development and construction of housing.
For additional information about CHFA, please reference CHFA's website at www.chfa.org.
SCOPE OF SERVICES
CHFA is seeking proposals from qualified firms to provide a secure, web-based, end-to-end LOS
that enables participating lenders to reserve funds, lock interest rates, submit documentation, and
manage the loan pipeline in real time.
The selected firm will be responsible for the delivery, implementation, configuration, and ongoing
support of the LOS solution.
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While the final scope may be refined based on the selected solution, at a minimum, the firm shall
provide the following services and deliverables:
Core Services and Deliverables
* Provision of software licensing for CHFA staff and participating lenders
System implementation, including project management and deployment
System configuration and customization, workflows, reporting, and form/data mapping
Integration with CHFA financial and other internal/external systems
Data migration from the existing legacy system to the new LOS
Development and execution of a comprehensive implementation plan, including design,
testing, issue resolution, and regular status reporting
Delivery of system documentation, including user guides and technical documentation
Training for CHFA staff and participating lenders, including both instructor-led and web-
based options; Ongoing system support, maintenance, and updates
Current Operations and Volumes
Loan Origination system users (approximate)
Internal users 35
External users (participating lenders) 600
Participating Lenders (approximate) 85
Mortgage programs (approximate) 20
Annual Loan Origination Activity - 2025 (approximate)
Loans Reserved 4,800
Loans Underwritten 3,900
Loans Committed 3,900
Loans Purchased 3,800
Loans with committed second mortgages 3,700
Functional Requirements
The proposed LOS must include, at a minimum, the following capabilities:
Automated document submission with indexing by document type
A flexible, configurable, and user-friendly interface
Real-time management of loan reservations, commitments, and holds
Ability to accept, validate, and process Uniform Residential Loan Application
(URLA/Form 1003) data uploads from participating lenders in Fannie Mae compliant
MISMO format, including support for data mapping and error handling
Tools to calculate accurate down payment assistance amounts at the time of reservation
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Automated notifications to originators and processors regarding missing documents,
exhibits, and commitment conditions
Configurable workflow management to support complex business processes;
Integration capabilities with internal and external systems
Automated compliance to ensure adherence to regulatory and investor requirements
Pipeline management and tracking tools
Embedded help features, including tutorials and user guidance
Customizable reporting and data mapping capabilities
Implementation and Support Expectations
The selected firm shall:
Provide a detailed project plan and actively manage all phases of implementation,
including planning, design, testing, and deployment
Lead and facilitate data migration activities from the legacy system to the new LOS
Deliver comprehensive training to CHFA-designated staff and provide accessible training
resources for participating lenders
Provide ongoing technical support, system maintenance, and updates to ensure system
performance, security, and reliability
EVALUATION CRITERIA
Firms will be evaluated based on their written response to this RFP, additional written
information as requested by CHFA and oral interviews, if any, including but not limited to the
following criteria:
Demonstrated experience and qualifications of firm and staff assigned to perform the
services
Fee structure
Desired functionality
Implementation plan
Initial support post implementation
Financial and organizational stability of firm
Ongoing support-maintaining level of services
CHFA may select multiple firms for the services described herein. No selected firm is
guaranteed or ensured of any number of contracts or proportion of business.
REQUESTED INFORMATION
All firms must address the following issues and questions:
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1. Provide a brief description of your firm, its history, and main areas of business. Indicate
the total number of staff and the team available to CHFA.
2. Provide a summary of the key strengths and qualifications of your firm to provide an LOS
product to CHFA.
3. Describe your presence in Connecticut, if any, including corporate existence in
Connecticut, whether formed in Connecticut or authorized to do business in the state. This
may include, but not be limited to, information on the number of offices your firm
maintains in Connecticut, the location of such offices, the number of Connecticut residents
employed in those offices, and payroll and corporate taxes paid in Connecticut. If your
firm currently is not registered with the Connecticut Secretary of State, please indicate
whether your firm will register if your firm is awarded this contract.
4. Include any participation by your firm in any civic or other non-profit activities, including
any charitable contributions that your firm made in Connecticut.
5. Provide a brief summary of the professional background of any individual who would be
assigned to work with CHFA. Please indicate their probable areas of responsibility and
the percentage of their time which would be available to service CHFA's account.
6. Provide a list of all modules available in your software package. If any additional systems
are required or should be considered by CHFA to deliver the required functionalities,
please identify this information in your response.
7. Please provide information about any anticipated upgrades, enhancements, functional
changes, expansion plans, cost structures, etc. over the next three to five years.
8. Please provide a step-by-step plan for performing and completing the services. The plan
should include:
Key personnel and their roles providing the services
The general approach and methodology in providing the services
Details about project phases, including deliverables, timelines, milestones, software
components and resources, if any, to complete the project
9. Provide a complete price proposal, as specified in Attachment A entitled "Costs/Pricing."
10. Provide a copy of your service level agreement which includes but is not limited to the
hours/day of availability for technical support and maintenance and other technical
assistance. Please include information on the firm's service request process, reporting and
monitoring.
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11. Provide a copy of your firm's business continuity and disaster recovery materials and
protocols to ensure the security, availability and recovery of CHFA's data.
12. Provide copies of the firm's annual report, balance sheet or other financial information for
the past three years.
13. SOC-2/SOC-3 or other reports of systems or controls.
14. Provide any necessary technical specifications, hardware, software requirements and
supported devices for the proposed system.
15. Furnish evidence of the firm's most recent penetration test or other related assessments to
ensure data integrity and security.
16. Provide information about the firm's procedures to offset risk and address compliance
requirements.
17. Provide, in tabular form, information on the employee composition of your firm indicating
the total number of employees and the total number and percentages of minorities and
women employed and their titles.
18. Submit specific information regarding your firm's commitment to Affirmative Action.
Please include, at a minimum, policies and practices that demonstrate your firm's
commitment to underrepresented groups (e.g., in terms of ethnicity, gender, sexual
orientation, disability, etc.). Please include your firm's most recent EEO-1 report if required
to file.
19. Describe any and all material lawsuits, legal or administrative proceedings or governmental
investigations, criminal actions or law enforcement activities (including those by federal,
state or local authorities, or self-regulatory organizations) or non-routine inquiries or
investigations relating to you, your firm, or any of your affiliates, including any
proceedings to which you, your firm, your affiliates or any of their respective officers,
directors or employees are a named party or of which any of such has been the focus, that
have occurred in the last three (3) years or that are currently threatened, including whether
you, your firm, or any of your affiliates, or their respective officers, directors or employees
have been censured by any regulatory body. Describe any such circumstances and advise
whether these investigations or proceedings will affect you or your firm's ability to
complete the proposed transaction and perform the services in this RFP.
20. Describe whether you foresee any potential conflicts of interest arising from providing
property preservation services to CHFA. If so, describe how your firm would address
potential conflicts of interest.
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21. Has your firm ever been removed from an account prior to the expiration of its contract
(i.e., been fired)? If so, please explain. If you wish, list the name of a third party with
whom the Authority could discuss this termination.
22. Describe your firm's knowledge of and past experience with CHFA.
23. Please provide as references with a minimum of three clients for whom your firm has
provided similar and substantial services, including past experience with entities similar to
CHFA. Please include the name of the person to contact, his or her phone number and
email address. Please include as references any State of Connecticut agencies or
departments that have engaged your firm to perform services.
24. Selected firm(s) must comply with CHFA and State Ethics requirements, laws and
regulations. Firms seeking to do business with CHFA are required to comply with the
ethics statement, attached hereto on Exhibit C, and the applicable provisions of the Code
of Ethics and Code of Ethics for Lobbyists incorporated therein by reference. Selected
firm(s) will also be required to provide evidence of the firm's insurance in the amount
listed in Exhibit C.
25. An authorized signatory of any firm submitting proposals is required to execute and
submit with the proposal and with any contract awarded in accordance herewith all
applicable representations and certifications set forth on Exhibit B, attached hereto and
made a part hereof, regarding:
Gift and Campaign Contributions; Connecticut General Statutes 4-252
Entities Making Investments in Iran; Connecticut General Statutes 4-252a
Nondiscrimination; Connecticut General Statutes 4a-60 &
Connecticut General Statutes 4a-60a
Consulting Agreements; Connecticut General Statutes 4a-81
Campaign Financing Contributions; Connecticut General Statutes 9-612
All of the above are attached and incorporated herein on Exhibit C.
26. What is the most important question that we haven't asked you? Why should CHFA hire
your firm instead of another firm?
FREEDOM OF INFORMATION ACT
Please be advised that all information submitted in a proposal or in response to a request for
additional information is subject to disclosure under the Connecticut Freedom of Information Act
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as amended and judicially interpreted. If a firm believes that its response contains financial,
trade secrets or other data that it claims should not be public, ("Confidential Information"), the
firm must identify specifically the pages and portions of its proposal or additional information
that contain the claimed Confidential Information by visibly marking all such pages and portions.
An entire response marked Confidential will not be accepted.
If CHFA receives a request for an applicant's Confidential Information, it will use its best efforts
to notify the firm of such request and provide the applicant with a copy of any written disclosure
request, provided, CHFA will not be liable to the firm or any other party for any failure to act as
described herein. The firm may provide written consent to the disclosure or may object to the
disclosure by notifying CHFA in writing, identifying in the notice the basis for its objection,
including the appropriate statutory exemption(s) from disclosure. The firm shall be responsible
for defending any complaint brought in connection with the nondisclosure, including, but not
limited to, appearing before the Freedom of Information Commission, providing witnesses and
documents as appropriate, and for payment of CHFA's costs and expenses, including attorney
fees.
SUBMISSION OF RESPONSES
The following requirements must be observed in the preparation and submission of a proposal:
1. All inquiries should be directed to Shelly Mondo at RFP.RFQ@chfa.org no later than May
22, 2026. Firms submitting a proposal should not contact members of the CHFA's Board
of Directors or CHFA staff, which may be grounds for elimination from consideration.
2. The entire proposal must not exceed 20 single-sided pages, exclusive of cover letter and
exhibits.
3. Submissions must be sent electronically (not to exceed 25 MB) to RFP.RFQ@chfa.org no
later than 12:00 p.m. on Tuesday, June 17, 2026. Faxed responses will not be
considered.
4. Responses must include a cover letter signed by an individual authorized to enter into an
agreement with CHFA on behalf of the firm which shall specify that the firm is responding
to the RFP for an LOS. Please also remember to include completed Exhibit A
(Representations and Certifications), and Exhibit B (OPM Form 1 and SEEC Form
10).
5. Selected firms must comply with all state and federal laws applicable to CHFA including,
but not limited to, ethics requirements, laws, procedures, and regulations and must execute
CHFA statutory provisions, certifications and affidavits attached hereto.
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CHFA reserves the right to:
Reject any and all proposals received in response to this request
Negotiate the fees contained in any proposal
Waive or modify any irregularities in proposals received
Award contracts in any manner necessary to serve the best interest of CHFA and the
State of Connecticut, without obligation to accept a proposal based upon the lowest fee
schedule
Request additional information as determined necessary or request some or all firms
responding to make oral presentations
Each approved firm will execute a contract satisfactory to CHFA and will agree to comply with
the provisions of Connecticut General Statutes applicable to contracts with CHFA including, but
not limited to, nondiscrimination and affirmative action provisions. Failure to comply with the
requirements of this RFP may result in CHFA's rejection of a proposal.
Thank you for your interest in the Connecticut Housing Finance Authority.
The Connecticut Housing Finance Authority is
an Affirmative Action/Equal Opportunity Employer.
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Attachment A
COSTS/PRICING
Cost will be a key factor in the evaluation of proposals. Firms must provide a detailed and
transparent pricing structure, including:
Itemized costs for all components, including hardware (if applicable),
software/subscription, hosting, implementation, training, and ongoing support
Billing rates for any additional services, including hourly rates for key personnel and any
reimbursable expenses
A clear description of the pricing model, including assumptions, cost drivers, and
whether pricing is based on named users or concurrent usage
Pricing options for Cloud/SaaS solutions, including both multi-tenant and single-tenant
models (if available)
Identification and cost-breakdown of any third-party components over one-, three-, and
five-year periods
Disclosure of any anticipated future costs, including upgrades, enhancements, or optional
services
A comprehensive view of total cost of ownership, including any additional or indirect
fees
Pricing Model & Assumptions
Firms must describe:
Pricing structure (e.g., subscription, license-based, usage-based)
Whether pricing is based on named users or concurrent users
Key cost drivers and assumptions used in developing the proposal
Differences between multi-tenant and single-tenant pricing (if applicable)

Additional Costs / Total Cost of Ownership
Firms must identify:
Any optional modules or add-ons not included in base pricing
Upgrade or enhancement costs
Data storage or overage fees
Any other costs that may impact on the total cost of ownership