Loan Servicing System

Project Description: Issuing Procurement Unit: State of Utah Division of Purchasing
Conducting Procurement Unit: Department of Government Operations
The purpose of this RFP is to enter into a contract to provide: A comprehensive loan servicing system to manage its diverse loan portfolio efficiently and effectively. .
It is anticipated that this RFP will result in a single contract award to the responsive and responsible vendor with the highest score justified by the procurement code.
The methodology or formula that will be used to determine the number of contract awards is: Vendors must meet the Mandatory Minimum Requirements as listed in the documents section before moving on to the technical scoring phase. If you cannot meet the MMR's you will not move on to the next phase. Technical criteria will be scored on a 0-5 scale by an evaluation committee and the offeror must provide a point-by-point response to the Technical Criteria topics detailed in the document labeled Evaluation Score Sheet and Vendors responses to Attachment C. Offeror must meet the minimum technical score threshold of 572 points out of 880 points. To move on to the Demonstration phase. Vendors must score an minimum of 503.80 points to move on to the Cost stage of the evaluation. Cost will be evaluated using this equation (Cost Points x (Lowest Proposed Price/Proposed Price). The max points will be given to the lowest cost Vendor and the rest will be evaluated based on the Cost Points equation. The highest scorer will be awarded the contract. There are 2,355 points possible.
Length of Contract: 5 Years