R -- GINNIE MAE'S MASTER SUBSERVICING FUNCTIONS FOR ITS SINGLE-FAMILY HOUSING PORTFOLIO

Notice Date

June 27, 2001

Contracting Office

Department of Housing and Urban Development, Government National Mortgage Association (Ginnie Mae), Contracting Division, Room 6153, 451 Seventh Street, SW., Washington, DC 20410

ZIP Code

20410

Point of Contact

Susan M. Taylor, (202) 708-4531.

Description

The Government National Mortgage Association, Ginnie Mae, a wholly-owned Government corporation within the Department of Housing and Urban Development (HUD), provides a secondary market for government insured/guaranteed loans through its Mortgage-Backed Securities programs. Ginnie Mae is soliciting for multiple contractors to provide the servicing of single-family housing portfolios when Ginnie Mae either places a Ginnie Mae issuer in default or transfers its existing defaulted portfolio. The successful offeror shall perform the complete range of services expected of a Ginnie Mae single-family housing issuer/servicer. Since 1991, Ginnie Mae has defaulted approximately 29 single-family issuers and, by so doing, assumed the issuer responsibility of over $1.7 billion in mortgage pools. In 1999 and 2000, there were 2 defaults totaling $116 million, and 3 defaults totaling $84 million, respectively. As a result of sales of servicing rights and principal run off, the Ginnie Mae held portfolio now consists of about $350 million. The future level of default activity is dependent upon a number of program and economic factors. In recent years, default activity has been minimal. However, Ginnie Mae must be prepared to handle a large volume of defaults to fulfill its guarantee obligations. As such, bidders are advised that the actual level of future business may be substantially less than the contract award amount. A three-year, single award is contemplated with 2 one-year options to renew. RFP R-OPC-22011 (GNMA-01-OF-01) will be issued on or about July 19, 2001. Offerors must be Ginnie Mae approved single-family issuers on or before the date of proposal submission. Brief written proposals limited to resumes of key personnel and past performance of the firm, and consisting of no more than 30 pages, will be due 30 days after issuance of the solicitation. An oral presentation addressing the evaluation factors for award will be requested of those firms still remaining in the competition after the written submission is evaluated. HUD posts all required notices of its contracting opportunities on its Internet Home Page Contracting Opportunities site as indicated at the end of this notice. Copies of the solicitation will not be mailed. Only electronic copies will be available, and may be printed from the Internet site. Potential offerors who download copies of the solicitation from HUD's Home Page will NOT automatically receive any amendments to the solicitation. Offerors are advised to check frequently to see if amendments will be posted on, and may be downloaded from, HUD's Home Page Contracting Opportunity site: http://www.hud.gov/cts/ctsoprty/html.

Record

Loren Data Corp. 20010629/RSOL006.HTM (M-178 SN50Q280)