7-Attachment E - Contractor Questions.docx

Attachment E:

Subordinate Shared Appreciation Loan Program Contractor Questions

- Please read this document first and build your proposal around the below -

· This document contains questions and/or specific qualifications for selecting the Contractor for the Subordinate Shared Appreciation Loan Program.

· The purpose of this document is for the Contractors responding to the RFP to describe their skills and/or experience by answering the questions below.

· The Contractor will be evaluated on the overall expertise and experience provided. The State has determined that it desires specific experience and/or skills for the Contractor to possess in order for the Contractor to be able to complete the work efficiently while meeting the demands and deadlines of the State.

· Contractors must submit proposals that detail their experience and qualifications in the following areas. Each area must be addressed. Do not state “not applicable”.

Your response to this RFP should include a response to the following items, in this order:

A. Mandatory Minimum Requirements/Qualifications (Pass/Fail Criteria) Contractor must provide a narrative and/or documentation demonstrating that the Contractor is compliant with the stated Mandatory Minimum Requirements/Qualifications.

1. Contractor must be authorized to do business in the State of Utah as of the date of your response. The Contractor cannot be under suspension or debarment by the State or any other governmental authority. The Contractor must disclose in its response any convictions of the Contractor, its affiliates and all directors, officers and employees and its affiliates for any violation of State or federal law involving: fraud, bribery, collusion, conspiracy or misrepresentation with respect to insurance; or fraud or a criminal offense in connection with any offer or service. The Contractor must not have been issued a ‘Cease and Desist Order’ (or any similar order) from the Insurance Commissioner in the State of Utah for any reason within the past five years. Provide an affirmative statement that the Contractor complies with this requirement.

2. Contractor must be a non-profit or partner of a non-profit entity. Provide an affirmative statement that the Contractor complies with this requirement and attach a 501c(3) letter.

3. Contractor must have secured a Letter of Interest or Letter of Commitment for matching 3:1 ratio of private funds to Program funds. Provide an affirmative statement that the Contractor complies with this requirement and attach a Letter of Interest or Letter of Commitment.

4. Contractor must have demonstrated professional experience providing or purchasing loans that meet the requirements for a Subordinate Loan, as defined in Program policy. Provide an affirmative statement that the Contractor complies with this requirement and dates of services.

5. The Contractor must agree that the Department shall be the final authority in matters of policy, procedures and approval of any reports or plans. If the Department determines that the Contractor’s work is not satisfactory, either before or after any report is issued because it did not conform to the Scope of Work or specifications, the Contractor shall submit a revised report at the Contractor’s expense within the time period required by the Department. Provide an affirmative statement that if the Contractor is selected as the Contractor, the Contractor will comply with this provision.

B. Technical Response Requirements (Scored Criteria) The Technical Proposal submitted in response to this RFP shall include and be organized into the following areas of evaluation:

1. Contractor Experience

1.1 Describe your experience providing or purchasing loans that meets the requirements for a Subordinate Loan as defined in Subordinate Shared Appreciation Loan Program Policy.

1.2 Does the Contractor have experience purchasing condominium construction liability insurance? If yes, describe your experience in detail.

1.3 Has the Contractor purchased or provided mortgage loans? If yes, describe your experience in detail.

1.4 Describe any important features that distinguish the Contractor’s qualifications and experience from others in the field.

2. Documentation Requirements

2.1 Provide documentation as evidence of 3:1 matching funds (Letter of Interest, Letter of Commitment, or clearly delineated financial documents, or other as applicable).

2.2 Provide a Letter of Commitment to align and use Program funds in conjunction with the Utah Housing Corporation’s First Time Homebuyer Program, as applicable.