Loan Services and Asset Management

2026-11-03

The Connecticut Municipal Development Authority (“ CMDA ”) is a quasipublic entity created to stimulate economic and transit - oriented development throughout Connecticut . Once a municipality becomes a member of CMDA , transit - oriented and downtown infill projects within that municipality ’ s Development District can request financing from CMDA . There is a $ 60m authorization through FY26 and a $ 30m authorization for FY27 with anticipated future authorizations . There is an expectation that the majority of the $ 90m will be allocated to projects by the end of FY27 . CMDA is requesting written Proposals from qualified firm ( s ) to service and manage CMDA ' s loans , which will include but is not limited to servicing loans , maintaining borrower relations , monitoring and overseeing construction draw requests , and the preparing reports . OUTLINE OF WORK ( the “ Work ”) The Authority is requesting written Proposals from qualified firm ( s ) to service and manage CMDA ' s loans . The servicing and managing of loans will be non - assignable and non - transferable , although specific tasks can be subcontracted upon review . While CMDA aims to select a single firm to provide the full scope of services listed below , the proposing firm ( s ) may respond to loan servicing and / or asset management services listed below within their expertise . Contract services will include , but may not be limited to : Loan Services • Servicing of released loans funded by CMDA • Management of loan payment collection and processing ( including maintenance of payment records and generating periodic statements to borrowers as necessary ) • When borrowers become delinquent or non - compliant , inform the Director of Operations and Finance and then take such action ( s ) as are requested of CMDA , including , but not limited to , sending notices of default • Maintain borrower communication channels , respond to inquiries , provide payoff statements , process payment changes , and handle general account management requests Loan Asset Management • Monitoring and oversight of construction draw requests and required documentation in connection with same • Maintain loan files , ensure regulatory compliance , and preserve documentation necessary for enforcement of loan obligations • Management and monitoring of borrower reporting requirements and enforcement of same • Prepare and distribute regular reports detailing loan performance , payment activity , delinquencies , and other portfolio metrics required under servicing agreements or pooling and servicing agreements in securitizations • Under CMDA ’ s direction , coordinate with participating lenders to ensure compliance with requirements and maintenance of continued contact with participating lenders to ensure the timely delivery of properly document files • Administer mortgagee change or assumption • Meet guarantor requirements and guidelines • Manage disclosures • Foreclosure responsibilities including filing all insurance claims

Connecticut

2026-05-05