| 1 | | | The Oregon Housing and Community Services Department ("Agency") has issued this Response to Questions document for RFP #914-4695-21, Homeownership Master Servicer through Smartsheet. |
| This document is not an Addendum to RFP #914-4695-21 and does not change the requirements of this RFP. Answers given to the below questions that were submitted by prospective proposers are for clarification purposes only. This document will be updated as Agency responds to questions received. See the Posted Date column for the most recent response. |  |
| 2 | | | |
| 3 | |  | Question Received |
| Agency Response | Date Agency Posted Response |
| 4 | | | From the OHCS Master Servicer RFP, I was confirming that the times listed for the March 3 and March 15 meetings are Pacific Standard Time? |
| The times listed in the RFP Schedule, Section 1.2 are in Pacific Time. (Pages 4-5 of the RFP). | 03/01/21 |
| 5 | | | Section 3.2.2. Procurement Requirements & Page Counts (pg 10) Will scorecards and other supporting documents (requested but not listed in the page count exclusions) be counted toward the page count? Pending question from Pre-Proposal Conference Call. |
| An update in page count exclusions is pending. Please continue to monitor the Procurement RFP-914-4695-21 Homeownership Master Servicer for updates and addenda. | 03/16/21 |
| 6 | | | Can OHCS share their plans for adding lenders above and beyond the current lender list? Does OHCS require that lenders have a physical presence in the State of Oregon to become an approved lender? |
| OHCS has no published plans regarding adding lenders. Lender physical presence requirements have not been published yet either. | 03/16/21 |
| 7 | | | Scope of Work, bullet point 18 (page 8) mentions ensuring that borrowers are referred to established Department Homeownership Centers. Can the Department clarify exactly what the requirement is for referral (i.e., providing information to borrowers for HUD approved counseling agencies)? |
| The referenced item in the RFP is: “Work with delinquent borrowers to consider and evaluate all necessary options to bring them current, reduce delinquencies and avoid foreclosure. Ensure borrowers are referred to established Department Homeownership Centers”. Oregon Housing has partnerships with Homeownership Centers throughout Oregon. Those Department Homeownership Centers can be found here: Oregon Housing and Community Services : Find a Housing Counselor : Homebuyers & Homeowners : State of Oregon https://www.oregon.gov/ohcs/homeownership/pages/housing-counseling.aspx | 03/16/21 |
| 8 | | | Regarding Section 3.3.2 Reference Contacts (pg. 10). If we have reference letters on hand, may we include for consideration or is the Department looking to collect independently? If we are permitted to include, will they count toward the page limit? |
| OHCS is only requiring the items in Section 3.3.2 for that Section, any additional documents not listed as an exclusion under 3.2.2 will be counted in the page limit. | 03/16/21 |
| 9 | | | Section B Experience, Item 5 (pg. 17) asks Proposers to describe the dollar amount and delinquency history of our GNMA, FNMA and FHLMC servicing portfolio for the previous 3 years. Is that all loans in our portfolio or limited to HFA loans? |
| OHCS is seeking HFA loans and all other loans in your portfolio broken out by GSE. | 03/16/21 |
| 10 | | | Section C Approach & Protocols, Item 1 (pg. 18) mentions Agency approval numbers and recent volume of pooling activity with each. Please confirm if “Agency Approval Numbers refers to the Firm’s Lender Approval Numbers (ID #). If not, please clarify. |
| Confirmed, that is what it means. | 03/16/21 |
| 11 | | | Section G Reports, Item 2 (pg. 21) requests a summary report for the past 12 months to show number of loans purchased, turn time etc. Is OHCS looking for HFA specific numbers, Correspondent Lending, or Originations as a whole? |
| Yes, this includes HFA, correspondent lending, and total originations broken out. | 03/16/21 |
| 12 | | | Note, the remaining questions are not specific to a particular RFP Section, but are more-so related to volume, whether Bond or projected, to draft a pricing response (Section I, Proposer’s Price, pages 21 & 22).
a. Based on your bond volume, or projections for the TBA program, can the Department provide what percent of your overall volume is (or may be) manufactured housing?
b. Can the Department provide an estimate for average loan amount – either based on your Bond program or from your projections for the TBA program.
c. Can the Department share the possible type of DPA anticipated for the new program (i.e., deferred, amortizing or grant)?
d. Can the Department provide (using bond program loan data or projected data) the weighted average FICO, LTV and DTI amounts for Conventional and Government products, separately? What % of volume falls < 660 FICO for Conventional and Government products, separately? Lastly, what % of volume falls < 45% DTI for Conventional and Government products, separately? |
| a. Pending response from OHCS. Check back for a future update. OHCS responded below 3-18-21.
b. The average loan amount for Bond Loans in 2020 was $251,111, there are no published projections for the TBA program at this time.
c.The department’s current framework anticipates utilizing DPA with both deferred and amortizing aspects, however future funding could bring the possibility of grants.
d. Due to Oregon Bond program structure, reporting at this level of granularity is not available at this time. At our most recent Housing Stability Council Meeting on March 5, 2021 we reported the following numbers for 2020 Bond Production: FHA $58,700,856 (212 units), RD $22,534,477 (97 units), Conventional Uninsured $57,269,319 (242 units), VA $6,637,556 (27 units), Oregon Bond does not originate Conventional Insured at this time. | 03/16/21 |
| 13 | | | Does OHCSD table fund the down payment assistance today and will that process continue in your TBA Program? |
| OHCS does not provide down payment assistance at this time. The closing cost assistance we currently provide is advanced by the lender who is reimbursed by OHCS at file purchase. | 03/16/21 |
| 14 | | | How is your current down payment assistance structured - Gift/Grant, Second Mortgage (Deferred, forgivable, Amortizing |
| OHCS does not provide down payment assistance at this time. | 03/16/21 |
| 15 | | | General question regarding formatting: If we have information relative to questions within the RFP that require expanded response and information to fully answer the question. Can we include the information as exhibits and will they be counted within the 20 page limitation on the response? |
| Additional exhibits not listed under Section 3.2.2 as an exclusion would be part of the page count. | 03/16/21 |
| 16 | | | Will items requested, but not included it section 3.2.2 be counted towards the page limits (i.e., Scorecards, proof of agency approvals, reference letters)? |
| Addendum No. 1 is pending release. Please check back for updates.
Addendum No. 1 issued 3-23-21. Check website for response. | 03/16/21 |
| 17 | | | Are you able to share details on the current bond program volume (average loan size, type of DPA, % of product mix - both overall and government, AMI allowance, average FICO & DTI and anticipated volume for the TBA program) 14:47:05 From Michelle Quaresima to Everyone : Sorry - should have specified that to be "possible DPA options" for this new program |
| The most recent public data regarding the information you seek can be found at the following link: OBRL semi-annual report 20190630 - Oregon Housing and Community Services | Tableau Public Please note not all datapoints requested are tracked or available.https://public.tableau.com/profile/oregon.housing.and.community.services#!/vizhome/OBRLquarterlyreport20190630/OBRLdash | 03/16/21 |
| 18 | | | Anticipate offering over 80% ami? |
| Yes, we anticipate offering loan products which allow for borrower income of greater than 80% AMI | 03/16/21 |
| 19 | | | Are you anticipating the Master Servicer to take on their existing whole loan servicing bond business |
| Not at this time, however, Per the RFP: “successful Proposer(s) may assume servicing for either new or existing loans originated through the whole loan MRB program.” | 03/16/21 |
| 20 | | | Section I: Proposer’s Price / Question 1 / Page 22 / first chart of the RFP: Can you please define 'Pass Through Fee'? |
| Addendum No. 1 is pending release. Please check back for updates.
Addendum No. 1 issued 3-23-21. Check website for response. | 03/16/21 |
| 21 | | | Section I: Proposer’s Price / Question 1 / Page 22 / first chart of the RFP: Can you please define and explain the 'Service Release Fee' and is it the same as total lender compensation? |
| Addendum No. 1 is pending release. Please check back for updates.
Addendum No. 1 issued 3-23-21. Check website for response. | 03/16/21 |
| 22 | | | May we inquire as to the current volume of the program? We are interested in total number of units and dollar volume.
This can be for calendar year 2020, or a period of time that is available. We would like to have an understanding of current volume and also project growth. |
| At oHCS' most recent Housing Stability Council Meeting on March 5, 2021 we reported the following numbers for 2020 Bond Production: FHA $58,700,856 (212 units), RD $22,534,477 (97 units), Conventional Uninsured $57,269,319 (242 units), VA $6,637,556 (27 units), Oregon Bond does not originate Conventional Insured at this time. OHCS has not published volume and growth projections surrounding the Flex Lending (TBA) Program. | 03/16/21 |
| 23 | | | a.Based on your bond volume, or projections for the TBA program, can the Department provide what percent of your overall volume is (or may be) manufactured housing? |
| Manufactured Homes consisted of 10.21% of the Oregon Bond Program volume for 2020. | 03/18/21 |