National servicing center loan servicing
Ended Definitive Contract Awarded Last action
- Contract number
- 86614922C00004
- Awardee
-
Novad Management Consulting LLC UEI DDZBCZ4K2DN3
- Awarding agency
-
Real Estate Assessment Center
Department of Housing and Urban Development
- Obligated
- $22,009,350
Award facts
- Opportunity
-
- Intent to Award a Sole Source Contract Special Notice · 86614922R00007 · Posted Apr 8, 2022
- Contract value 100% obligated
- $22,009,350.36 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
- Not Competed · 1 offer Only One Source
- Pricing
- Firm Fixed Price
- Place of performance
- Edmond, OK 73012, USA
- Legislative mandates
-
- Service Contract Inventory FAR subpart 4.17
Award details come from SAM.gov/FPDS.
Transactions
| Action | Obligated | Date |
|---|---|---|
| Other Administrative Action | $0 | |
| Exercise an Option | $4,465,631 | |
| Funding Only Action | $2,123,300 | |
| Exercise an Option | $7,920,419 | |
| Original award | $7,500,000 |
About this award
This $22,009,350.36 firm fixed price contract was awarded by the Department of Housing and Urban Development (HUD) to Novad Management Consulting LLC, a minority-owned, for-profit limited liability company, for loan servicing of over 100,000 Home Equity Conversion Mortgage (HECM) loans and related first, second, and subordinate notes and mortgages. The contract has a base period of 3 months and one 3-month option period. Novad Management Consulting was the incumbent contractor for previous HUD loan servicing contracts, including a $44.2 million definitive contract in 2020 and a $31.9 million contract in 2019. This contract did not have a set-aside designation.
Quick answers
Who was awarded contract 86614922C00004?
86614922C00004 was awarded to Novad Management Consulting LLC by Real Estate Assessment Center (Department of Housing and Urban Development) on April 15, 2022.
How much is contract 86614922C00004 worth?
The government has obligated $22,009,350 on 86614922C00004.
Which agency awarded contract 86614922C00004?
Real Estate Assessment Center (Department of Housing and Urban Development) awarded 86614922C00004, with funding from Housing Office of Single Family Housing (Department of Housing and Urban Development).
Was contract 86614922C00004 competed?
The extent of competition for 86614922C00004 was not competed. The government received 1 offer.
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