Program Related Investments Servicing Software

The Vendor is required to provide to procure a comprehensive loan servicing software solution to efficiently manage its program related investments (PRI) loan portfolio.
- Provide, implement, and support a loan servicing software solution that enables the Commission to efficiently originate, process, service, and monitor loans in the PRI program.
- The system will initially manage approximately 125 Multifamily and other non-Single-family loans averaging approximately $1.5 million each. 
- Vendors should note that future expansion may include Single-Family Down Payment Assistance loan servicing (25,000+ loans, $420+ million) and should design systems with appropriate scalability and data import capabilities.
- Loan Management and Servicing
• Process loan closings and fund disbursements
• Support document upload, storage, and management
• Manage various loan types (fixed, variable, deferred payment, compounding interest, etc.)
• Calculate and process payments, including principal, interest, fees, and penalties
• Support payment processing through multiple channels
• Maintain comprehensive transaction histories
• Implement billing cycles and generate statements
• Process deferments, forbearances, and loan modifications
• Track and manage loan collateral and project reserves
- Collections and Default Management
• Identify delinquent accounts and trigger appropriate workflows
• Generate and send automated delinquency notifications
• Support various collection strategies
• Track and manage loss mitigation efforts
• Process loan charge-offs and recoveries
- Reporting and Analytics
• Generate standard operational reports
• Provide customizable reporting capabilities
• Support data exports in multiple formats
• Offer dashboard views of key performance indicators
• Enable ad-hoc query capabilities.
- Contract Period/Term: 3 years
- Pre-Bid Conference Date: July 16, 2025
- Questions/Inquires Deadline: July 21, 2025