MBS legal services acknowledgement agreements
Active Definitive Contract Awarded Last action
- Contract number
- 86615525C00005
- Awardee
-
Venable LLP UEI EC44BLNJVM99
- Awarding agency
-
Government National Mortgage Association
Department of Housing and Urban Development
- Obligated
- $1,109,920
Award facts
- Opportunity
-
- Notice of Intent to Sole Source Special Notice · 86615525R00003 · Posted Apr 21, 2025
- Contract value 68% obligated
- $1,643,320.00 Current and potential, with all options
- Completion date 90% complete
- Current and potential, with all options
- NAICS code
- 541110 Offices of Lawyers
- PSC
- R418 Support- Professional: Legal
- Set-aside
- No set-aside
- Competition
- Not Competed · 1 offer Only One Source
- Pricing
- Labor Hours
- Place of performance
- Washington, DC 20001, USA
- Legislative mandates
-
- Service Contract Act FAR subpart 22.10
Award details come from SAM.gov/FPDS.
Transactions
| Action | Obligated | Date |
|---|---|---|
| Supplemental Agreement for work within scope | $0 | |
| Funding Only Action | $43,120 | |
| Funding Only Action | -$43,120 | |
| Original award | $1,109,920 |
About this award
The Government National Mortgage Association awarded a $1.643 million definitive contract to Venable LLP for legal services supporting the Mortgage-Backed Securities Program on June 14, 2025, through sole-source procurement under FAR Subpart 13.5.
The originating Special Notice, posted April 21, 2025, identified a critical need to continue reviewing Acknowledgement Agreements following termination of a previous contract. HUD determined Venable LLP was the only viable source due to the urgent nature of ongoing AA reviews and risk of service disruption to agency operations. The acquisition uses labor-hour pricing and covers comprehensive legal services including regulation review and drafting, tax law research, trademark application management, program development, and litigation support for Ginnie Mae's management of mortgage-backed securities. Place of performance is Washington, DC. The contract runs through December 13, 2026. NAICS code 541110 (Offices of Lawyers) applies.
Quick answers
Who was awarded contract 86615525C00005?
86615525C00005 was awarded to Venable LLP by Government National Mortgage Association (Department of Housing and Urban Development) on June 14, 2025.
How much is contract 86615525C00005 worth?
The government has obligated $1,109,920 on 86615525C00005. Its current value, with exercised options, is $1,643,320.
Was contract 86615525C00005 competed?
The extent of competition for 86615525C00005 was not competed. The government received 1 offer.
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