Home Equity Conversion Mortgage (HECM) Justification Sole Source

ID: 86614924R00002 • Type: Special Notice

Description

LEASE READ THIS NOTICE CAREFULLY AS IT CONSTITUTES THE ONLY NOTICE THAT WILL BE PUBLISHED.

The Department of Housing and Urban Development (HUD)intends to negotiate a sole source fixed priced contract for one three (3) month base and one Nine (9) month option periods with the following company.

Compu-Link Corporation

14002 East 21st Street, Suite 300; Tulsa, OK 74134

HUD has prepared a sole source justification on the basis of other than full and open competition for this effort. HUD intends to negotiate with only one source under the authority of 6.301-1 Only One Responsible Source and No Other Supplies or Services Will Satisfy Agency Requirements. HUD has a requirement for servicing a portfolio of over 100,000 Home Equity Conversion Mortgage (HECM) loans with specialized experience in HECM, FHA insured and Secretary-Held first, second, subordinate notes and mortgages.

The North American Classification System Code (NAICS) for this requirement 522390 Other Activities Related to Credit Intermediation with a NAICS size stand of $20.5 Million. This notice will be distributed solely through the beta.sam.gov website. Interested parties are responsible for monitoring the sam.gov website to ensure they have the most up to date information regarding this acquisition. This notice satisfies the requirement of FAR 5.102(a)(1) and 5.103(a)(1). This Notice of Intent to Sole Source is not a request for quotes. Information received in response to this notice will be considered solely for the purpose of determining whether a competitive procurement is in the best interest of the Government. If no written responses by the date listed below, which reflect 3 business days from the posting of this notice, the solicitation will be issued to Compu-Link Corporation.

Interested parties may identify their interests and capabilities to the attention of Christopher Stuart, email address Christopher.S.Stuart@hud.gov. Emailed responses will only be considered and must identify their capabilities in writing no later than 4:00 PM Easter Time, November 5, 2024.

Background
The Department of Housing and Urban Development (HUD) intends to negotiate a sole source fixed priced contract with Compu-Link Corporation for servicing a portfolio of over 100,000 Home Equity Conversion Mortgage (HECM) loans. HUD's mission includes providing homeownership opportunities for first-time homebuyers and those underserved by conventional mortgage markets.

The goal of this contract is to ensure professional and effective loan servicing for HECM mortgage loans while maintaining high customer service standards.

Work Details
The contractor will perform comprehensive loan servicing activities per mortgage industry standards, including but not limited to: acceptance of assignment and title review, initial loan and escrow setup, payment collection, disbursement of payments, annual recertification, foreclosure activities, bankruptcy activities, compliance monitoring, and preparation of releases or satisfaction of mortgages.

The contractor must maintain accurate physical and electronic servicing files, ensuring all correspondence is documented within specified timeframes. Additionally, the contractor will handle asset sale activities related to mortgage note sales and provide technical assistance to purchasers. Key personnel must possess relevant qualifications and experience in mortgage servicing.

Period of Performance
The contract will have a base period of three (3) months with an option for an additional nine (9) months.

Place of Performance
The contract will be performed at the National Servicing Center located in Tulsa, Oklahoma.

Overview

Agency

HUD Office of the Chief Procurement Officer (CPO) [HUD]

Response Deadline

Nov. 5, 2024, 4:00 p.m. EST Past Due

Posted

Oct. 31, 2024, 11:29 a.m. EDT

Set Aside

None

NAICS

522390 - Other Activities Related to Credit Intermediation

PSC

R710 - Support- Management: Financial

Place of Performance

Tulsa, OK United States

Source

SAM

Current SBA Size Standard

$28.5 Million

Pricing

Fixed Price

Est. Level of Competition

Sole Source

Est. Value Range

$20,500,000 (value based on agency estimated range)

On 10/31/24 HUD Office of the Chief Procurement Officer issued Special Notice 86614924R00002 for Home Equity Conversion Mortgage (HECM) Justification Sole Source due 11/5/24.

Question & Answer

Incumbent or Similar Awards

Contracts Similar to Special Notice 86614924R00002

Potential Bidders and Partners

Awardees that have won contracts similar to Special Notice 86614924R00002

Additional Details

Source Agency Hierarchy

HOUSING AND URBAN DEVELOPMENT, DEPARTMENT OF > HOUSING AND URBAN DEVELOPMENT, DEPARTMENT OF > CPO : CPO; ACFO; WFCOD; REAL ESTATE

FPDS Organization Code

8600-866149

Source Organization Code

500042870

Last Updated

Nov. 20, 2024

Last Updated By

christopher.s.stuart@hud.gov

Archive Date