Loan Title Services
ID: BPM045891
• State: Maryland
Opportunity Assistant
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Description
Background
The State of Maryland, through the Maryland Department of Housing and Community Development (DHCD), is issuing this Invitation for Bids (IFB) to seek qualified Contractors to provide loan title services for properties owned by various entities that receive financing from the Department.
The goal is to ensure that properties are owned by borrowers without unreported liens or judgments that could affect their ability to secure loans.
Work Details
The Contractor will provide loan title services including:
1) Property and Judgment Reports for all 23 counties in Maryland and Baltimore City, delivered within ten business days of request. Reports must include owner details, annual taxes, property valuation, mortgages/deeds of trust, and any liens.
2) Updated Reports upon request showing recordation of DHCD loans within ten business days.
3) Recordation services for deeds of trust or mortgage instruments within two business days of receipt.
4) Title searches and preparation of title abstracts within three business days of request.
The Contractor will also handle invoicing for these services on a monthly basis, detailing each report provided.
Period of Performance
The contract duration is set for a three-year base period with no option periods.
Place of Performance
The primary place of performance is the Department of Housing and Community Development located at 7800 Harkins Road, Lanham, MD 20706.
The State of Maryland, through the Maryland Department of Housing and Community Development (DHCD), is issuing this Invitation for Bids (IFB) to seek qualified Contractors to provide loan title services for properties owned by various entities that receive financing from the Department.
The goal is to ensure that properties are owned by borrowers without unreported liens or judgments that could affect their ability to secure loans.
Work Details
The Contractor will provide loan title services including:
1) Property and Judgment Reports for all 23 counties in Maryland and Baltimore City, delivered within ten business days of request. Reports must include owner details, annual taxes, property valuation, mortgages/deeds of trust, and any liens.
2) Updated Reports upon request showing recordation of DHCD loans within ten business days.
3) Recordation services for deeds of trust or mortgage instruments within two business days of receipt.
4) Title searches and preparation of title abstracts within three business days of request.
The Contractor will also handle invoicing for these services on a monthly basis, detailing each report provided.
Period of Performance
The contract duration is set for a three-year base period with no option periods.
Place of Performance
The primary place of performance is the Department of Housing and Community Development located at 7800 Harkins Road, Lanham, MD 20706.
Overview
Opportunity Type
IFB: Invitation for Bid
Opportunity ID
BPM045891
Response Deadline
Dec. 9, 2024
Past Due
Date Posted
Nov. 2, 2024
Source
Est. Value Range
Experimental
$500,000 - $2,000,000
(AI estimate)
Agency Distribution
High
On 11/2/24 Department of Housing & Community Development in Maryland issued IFB: Invitation for Bid Loan Title Services with ID BPM045891 due 12/9/24.
Contacts
Documents
Posted documents for Loan Title Services
Opportunity Assistant
AI Analysis
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Classifications
Opportunity Classification
Real estate services
NAICS
Additional Details
Set Aside
Small Business Reserve Designation
Additional Instructions
Please read IFB for additional information:The purpose of this IFB is to invite qualified, experienced firms to provide Loan Title Services for properties owned by individuals, corporations, not-for-profit organizations, limited partnerships, general partnerships, and limited liability companies that receive financing from the Department. As a lender, DHCD is required to confirm that a property is, in fact, owned by the borrower and that there are no unreported liens, judgments, or unreported debt associated with the property that would impact its ability to lien or encumber the property. As a lender, DHCD is also
Lot #
1
Round #
1