Single family master subservicer services in support of ginnie MAE's mortgage-backed securities (MBS) programs.
Active Definitive Contract Awarded Last action
- Contract number
- 86615623C00015
- Awardee
-
Selene Finance LP UEI C49UPCEKSDK1
- Awarding agency
-
Federal Housing Administration Support
Department of Housing and Urban Development
- Obligated
- $89,755,359
Award facts
- Contract value 8% obligated
- $1,138,168,536.48 Current and potential, with all options
- Completion date 91% complete
- Current and potential, with all options
- Contracting staff
- Funding agency
- Government National Mortgage Association Department of Housing and Urban Development
- NAICS code
- 523150 Investment Banking and Securities Intermediation
- Set-aside
- No set-aside
- Competition
- Not Competed · 1 offer Only One Source
- Pricing
- Time and Materials
- Place of performance
- Coppell, TX 75019, USA
Award details come from SAM.gov/FPDS.
Transactions
| Action | Obligated | Date |
|---|---|---|
| Exercise an Option | $9,465,377 | |
| Supplemental Agreement for work within scope | $0 | |
| Funding Only Action | $11,934,704 | |
| Funding Only Action | $3,497,775 | |
| Exercise an Option | $3,497,775 | |
| Funding Only Action | -$515,079 | |
| Funding Only Action | $268,839 | |
| Other Administrative Action | -$129,800,000 | |
| Exercise an Option | $43,370,819 | |
| Other Administrative Action | $0 | |
| Funding Only Action | $145,235,149 | |
| Original award | $2,800,000 |
Show all 12
About this award
The Government National Mortgage Association awarded a definitive contract to Selene Finance LP for single family master subservicer services in support of Ginnie Mae's mortgage-backed securities programs on August 12, 2023, with a ceiling value of $1,138,168,536.48.
This time and materials contract covers the full range of master subservicer responsibilities for Ginnie Mae's single family MBS programs. Place of performance is Coppell, Texas. The contract ultimate completion date is February 11, 2027.
Under Service Contract Inventory reporting, Selene Finance LP self-performed all work through FY2025 with no subcontractors. Labor footprint in the most recent fiscal year (FY2025) was 0.4 FTEs. Government-paid hourly rates remained stable across FY2023 and FY2024, averaging approximately $140 per hour ($142.24/hr in FY2023, $139.75/hr in FY2024).
Quick answers
Who was awarded contract 86615623C00015?
86615623C00015 was awarded to Selene Finance LP by Federal Housing Administration Support (Department of Housing and Urban Development) on August 12, 2023.
How much is contract 86615623C00015 worth?
The government has obligated $89,755,359 on 86615623C00015. Its current value, with exercised options, is $1,138,168,536.
Which agency awarded contract 86615623C00015?
Federal Housing Administration Support (Department of Housing and Urban Development) awarded 86615623C00015, with funding from Government National Mortgage Association (Department of Housing and Urban Development).
Was contract 86615623C00015 competed?
The extent of competition for 86615623C00015 was not competed. The government received 1 offer.
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