National servicing center loan servicing
Ended Definitive Contract Awarded Last action
- Contract number
- 86614920C00002
- Awardee
-
Novad Management Consulting LLC UEI DDZBCZ4K2DN3
- Awarding agency
-
Real Estate Assessment Center
Department of Housing and Urban Development
- Obligated
- $44,178,552
Award facts
- Opportunity
-
- Secretary Held Loan Servicing (Non-HECM) Solicitation · 86614920R00008 · Posted Aug 6, 2020
- Secretary Held Loan Servicing (Non-HECM) Award Notice · Posted May 3, 2021
- Contract value 100% obligated
- $44,178,552.11 Current and potential, with all options
- Completion date 100% complete
- Current and potential, with all options
- Funding agency
- Housing Office of Single Family Housing Department of Housing and Urban Development
- NAICS code
- 522390 Other Activities Related to Credit Intermediation
- Set-aside
- No set-aside
- Competition
- Full and Open Competition · 1 offer Negotiated Proposal / Quote
- Pricing
- Firm Fixed Price
- Place of performance
- Oklahoma City, OK 73107, USA
Award details come from SAM.gov/FPDS.
Transactions
| Action | Obligated | Date |
|---|---|---|
| Other Administrative Action | $0 | |
| Funding Only Action | $2,500,000 | |
| Other Administrative Action | $0 | |
| Other Administrative Action | $0 | |
| Exercise an Option | $11,682,710 | |
| Other Administrative Action | $1,413,350 | |
| Exercise an Option | $14,034,546 | |
| Other Administrative Action | $400,000 | |
| Other Administrative Action | $0 | |
| Original award | $14,147,946 |
About this award
This $44,178,552.11 definitive contract was awarded by the U.S. Department of Housing and Urban Development (HUD) to Novad Management Consulting LLC, a minority-owned, for-profit limited liability company, to provide loan servicing support for various HUD programs. The contract has a 12-month base period and four 12-month option periods.
The contract supports HUD's National Servicing Center and encompasses servicing functions for FHA-insured and Secretary-held first, second, and subordinate note and mortgage loan programs, including Partial Claim mortgages, 235 Recapture and Nehemiah mortgages, Title II Assignment Program mortgages, and others. This is an incumbent contract, as Novad Management Consulting was the previous provider of these loan servicing support services for HUD. The contract did not have a set-aside designation.
Quick answers
Who was awarded contract 86614920C00002?
86614920C00002 was awarded to Novad Management Consulting LLC by Real Estate Assessment Center (Department of Housing and Urban Development) on September 25, 2020.
How much is contract 86614920C00002 worth?
The government has obligated $44,178,552 on 86614920C00002.
Which agency awarded contract 86614920C00002?
Real Estate Assessment Center (Department of Housing and Urban Development) awarded 86614920C00002, with funding from Housing Office of Single Family Housing (Department of Housing and Urban Development).
Was contract 86614920C00002 competed?
The extent of competition for 86614920C00002 was full and open competition. The government received 1 offer.
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