Request for Proposals- To Be Announced Administrator
The purpose of this Request for Proposals (RFP) is to solicit proposals, in accordance with the New Mexico Mortgage Finance Authority Procurement Policy, from qualified firms by reason of their skill, knowledge, and experience are able to furnish To Be Announced (“TBA”) single -family program administrative services to MFA (“Offerors”). Services include pipeline management, hedging and delivery of Government and Conventional Mortgage-Backed Securities (“MBS”). The TBA program is intended to be used as a compliment to MFA’s Mortgage Revenue Bond single-family program (“MRB single-family program”). MFA uses a TBA program to finance its FIRST HOME and NEXT HOME programs (see Part II: Program Structure and Program Policy). However, MFA may continue/ resume issuing Mortgage Revenue Bonds and or/ initiate a tax-exempt mortgage-backed securities program (“TEMS”) at any time, and will then use TBA as a complement to MFA’s MRB Single Family Program.
According to the MFA’s website, Idaho Housing and Finance Association is the Master Servicer using the PowerLender Registration System. Can you provide us any information describing the MFA’s relationship with the Servicer and the Registration System?
Idaho Housing not only acts as a sub-servicer for MFA loans, but they currently perform several services for MFA outside of the traditional sub-servicer role. They currently do pre-purchase reviews, purchase loans from participating lenders on MFA’s behalf, review and forward loan documentation to our document custodian and perform quality control reviews of a percentage of purchased loans.
MFA uses the Power Lender software as our LOS system. Lenders make reservations, upload applications and documentation to submit loans to MFA for review and purchase through the LOS.
The majority of the RFP references 15 and 30 day extensions, but Exhibit B of the RFP labels them 30 and 60 day. Which extension pair is correct?
I apologize for my mistake and any confusion. Exhibit B should have been labeled 15 and 30 day. We want to be able to compare providers accurately so in case some respondents do not see this update, please complete Exhibit B with 15, 30 and 60 day extensions.