Housing Recovery Program - Request for Loan Servicing Consultant

2026-11-03

Overview and Goals Work includes the service and management of traditional and forgivable loans to borrowers ; engaging DOLA , as necessary , to resolve discrete borrower conditions as they arise ; reporting progress on a monthly basis ; and remitting payments of principal and interest to the State . SCOPE OF WORK A . Scope of Work and Deliverables This Scope of Work describes the deliverables sought through this RFP and the scope of what the awarded Offeror will be expected to offer through the contract resulting from this RFP . The Scope of Work is intended to provide interested Offerors with sufficient basic information to submit a proposal . It is not intended to limit a proposal ’ s content or exclude any relevant or essential data . i . Work includes the service and management of traditional and forgivable loans to borrowers - related to the existing Marshall Fire loan inventory . Inventory includes 186 traditional 30 year loans and 223 forgivable 3 - year loans , as well as 1 - 10 holdbacks . ( Future speculative loans in response to future disasters are not included in this RFP ). Specific work includes : 1 . Servicing : Collecting and posting borrower remittances , issuing monthly borrower account statements , completing payoff requests , credit reporting , and insurance verification . 2 . Compliance and closing : Posting yearly forgiveness , residency verification , duplication of benefits review , holdback releases , lien releases , and loan close outs . 3 . Communication and Risk : Responding to borrower and DOLA inquiries , identifying and proactively managing and resolving non - payment issues , and engaging DOLA , as necessary , to resolve discrete borrower conditions as they arise ; providing monthly financial reports to DOLA ; and remitting payments of principal and interest to the State . In addition , Contractor will provide the following : 4 . Forgivable Loan Servicing Years 1 and 2 : Contractor will review the loans for compliance with residency requirements through verification letters and send forgiveness letters to Borrowers . Contractor will provide a copy of the forgiveness letter to DOLA at the time the fee is invoiced . 5 . Forgivable Loan Servicing Year 3 : Contractor will review the loans for compliance with residency requirements through verification letters , perform a final duplication of benefits check , send forgiveness letters to Borrowers , and release the Deed of Trust on the property . Contractor will provide to DOLA at the time the fee is invoiced a copy of the forgiveness letter , duplication of benefits certification form signed by the Borrower , and the deed of trust release form . 6 . Loan Holdback Reviews : Contractor will review the loans for compliance with forgivable loan residency requirements through verification letters , perform a final duplication of benefits check , provide a holdback release letter to Borrower , and make final payment .

Rocky Mountain E-Purchasing System

2026-05-06