The U.S. Department of Housing and Urban Development (HUD) seeks justification for a non-competitive contract to continue servicing Home Equity Conversion Mortgages (HECM) during corrective procurement action. This document outlines the necessity for ongoing support provided by Compu-Link Corporation, amidst performance issues from the previous contractor, Novad Management Consulting LLC. HUD faces an urgent need as the loan servicing includes over 190,000 HECM loans valued at over $55 billion, primarily benefiting elderly borrowers reliant on timely payments. The justification highlights that no other contractors can satisfy the agency's requirements due to the specialized nature of HECM loan servicing. Market research indicates an extremely limited pool of qualified HECM servicers, restricting HUD’s options. The proposed bridge contract, valued at approximately $13.86 million for a three-month base period with a nine-month option, aims to prevent service disruption while awaiting a competitive procurement resolution. The contracting officer assessed the pricing as fair and reasonable, ensuring compliance with all regulatory requirements for this urgent acquisition.

The document outlines a justification for using other than full and open competition for the acquisition of services or supplies by the U.S. Department of Housing and Urban Development (HUD). It details a recommendation from the program office, identifying specific sources for negotiation and estimating the acquisition's cost at $13,855,750. The justification cites statutory exceptions allowing this procurement method, such as the presence of a single responsible source, unusual urgency, or an authorized requirement by statute, with supporting documentation provided in an attached exhibit. The head of the program office certifies the accuracy of the information, followed by a contracting officer's review ensuring fair pricing and addressing barriers to competition. The document establishes procedures for obtaining necessary approvals based on the dollar value of the acquisition, ensuring compliance with federal regulations. Overall, the file reflects HUD’s compliance with procurement practices and emphasizes the need for transparency and justification in government contracting decisions.

The document outlines a Request for Proposal (RFP) from the U.S. Department of Housing and Urban Development (HUD) for professional loan servicing support for FHA Insured and Secretary-held Home Equity Conversion Mortgages (HECM). It specifies contractor responsibilities, pricing structure (fixed unit price per serviced loan), and reimbursable expenses. The contractor is required to maintain high customer service standards while managing a portfolio estimated between 1 and 300,000 loans. Objectives include maximizing loan recoveries, effective risk management, and compliance with regulatory guidelines. Key tasks encompass comprehensive loan servicing, including payment collections, foreclosure activities, and customer support, all while adhering to specified HUD policies. Performance standards like timely mortgage releases and correct property conveyance to REO are emphasized, with disincentives for failures in performance metrics. Transition strategies at contract end, and a robust quality assurance process to evaluate contractor performance, are also indicated. The document reflects HUD's commitment to enhancing customer service and effective portfolio management through well-defined contractual obligations and oversight mechanisms.