Pinellas County Opengov #26-0643-ITQ

Pinellas County Solicits Loan Servicing for Mortgage Portfolio

Pinellas County's Housing and Community Development department is seeking a qualified loan servicer to manage its mortgage loan portfolio. - Government Buyer: - Pinellas County, Housing and Community Development - Scope of Services: - Administration of approximately 272 mortgage loans (including 24 escrowed loans) - Total principal balance: $12,704,707.96 - Loan types include: - 1st Mortgage - 2nd Mortgage Down Payment Assistance - Multi-Family Development - Home Improvement - Mortgages held in the Pinellas County Land Trust - Loans funded by federal (CDBG, HOME, NSP), state (SHIP), and local (Housing Trust Fund, General Fund) sources - Delinquency rate for loans over 30 days: 15% - Average of 1-2 new loans added monthly - Notable Requirements: - Minimum 10 years of loan servicing experience - Compliance with all applicable laws and regulations - Encouragement of recycled products - No specific OEMs or vendors are named; opportunity is open to qualified loan servicers

Description

Pinellas County intends to establish a contract with a qualified and experienced loan servicer for Loan Administration Services for the County's mortgage loan portfolio. The contract covers servicing approximately 275 loans funded by federal, state, and local sources, including mortgages with and without escrow. The portfolio includes various loan types such as 1st Mortgage, 2nd Mortgage Down Payment Assistance, Multi-Family Development, Home Improvement, and Mortgages in Land Trust. The contract duration is 60 months with possible extensions, and contractors must have at least 10 years of experience in loan servicing.

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