Q A_VII.xlsx
XLSX spreadsheet 13 KB Posted
- Attached to
- HCERA/SAFRA - Not-For-Profit (NFP) Servicer Program Federal contract opportunity
- Solicitation number
- NFP-RFP-2010
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Questions Answers Posting 7
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Q&As
| Questions | FSA Responses | |
| 1 | Will all servicers have the same metrics and pricing structure? | Pricing and performance metrics will be the same for all servicers. The TIVAS contracts also include additional quarterly compensation that can be earned by meeting or exceeding delinquency percentage targets. This additional quarterly compensation will not be available to the NFPs, but performance incentives may be added to the contracts in the future. |
| 2 | Is it still FSA's goal to have the NFPs and TIVAS on par with each other in the future? | FSA will continue to move toward a more similar mix of borrowers by adding new borrowers to the incoming volume at NFPs. FSA anticipates that a recompetition will be completed prior to volumes of NFPs and TIVAS becoming similar. |
| 3 | Are there plans to have a common servicing platform in the future? | FSA is considering several options, including the use of a common servicing platform and/or a common customer relationship management solution. |
| 4 | How will servicers receive the new borrowers (i.e., daily, weekly, monthly)? | Servicers will receive the new borrowers daily. The distribution tool allows for division of the 'new' borrowers received daily to be divided out by percentage for each servicer. |
| 5 | What status will the new borrowers be in? | Most non-PLUS borrowers coming from the originations solution are in school. A small percentage may be in grace or ready to be placed in repayment. |
| 6 | When does FSA expect NFPs to begin receiving borrowers? (a month) | FSA expects all NFPs to have the COD interface in place and begin receiving new borrowers by 2015. |
| 7 | Would current borrower's new loans be sent to the same servicer and would they count towards their allocations? For example, if one borrower takes out a new loan, would that new loan be with the same servicer? | Yes, new borrower's loans for an existing borrower will be sent to the servicer currently servicing the borrower. Those new loans are NOT counted in the allocation percentage, nor are they separately billable. |
| 8 | How was the allocation percentage determined (75% to TIVAS and 25% to NFPs) and is it final? | FSA considered various factors when determining the volumes to be provided. Limiting the volume of in school borrowers to NFPs during the first six months of the new interface will help minimize the Government's risk. The allocation percentage of new borrowers for TIVAS and NFPs is subject to change and FSA will continually monitor servicer performance and potential risk in making its allocation determinations in the future. |
| 9 | How long are these allocation percentages valid? What will be the cycle for changing the percentages? | Under the revised terms of the servicer contracts, future allocation periods will be for 6 months and change at the start of each 6-month period (March 1 and September 1). The TIVAS' allocation will be updated under revised terms of servicer contracts beginning March 1, 2015 while NFPs' initial allocation volumes will remain in place until August 31, 2015. On September 1, 2015 all servicers' allocation volumes will be updated and will continue to be updated each following March 1 and September 1 per the terms of the contracts. |
| 10 | Will the 25% allocation to NFPs come from COD? | Yes, the 25% volume of new borrowers for NFPs through 8/31/15 will come from COD. The distribution tool that allocates borrowers to all servicers is currently operated and maintained under the COD contract. |
| 11 | Is the original 100,000 allocation still going to be met? | No additional "initial" allocations will be given and no "refills" will be given. |
| 12 | In the future, will all servicers compete within the entire pool of new borrowers? If not, will the percentage going to NFPs increase? | There will be an allocation pool designated for TIVAS and another pool designated for NFPs. The allocation percentage for TIVAS and NFPs is subject to change and FSA will continually monitor servicer performance and potential risk in making its allocation determinations in the future. |
| 13 | What is the estimated total borrowers for the new year for the TIVAS and NFPs? | The estimated volume is approximately 2,800,000 borrowers. This is only an estimate and not a guaranteed number of new borrowers. Also, please note that FSA has not yet determined whether all NFPs will interface with the distribution tool simultaneously or whether NFPs will be added one at a time. Again, FSA will consider servicer performance and the Government's risk exposure in making its determination. |
| 14 | Will NFPs have the ability to consolidate and service consolidation loans? | All servicers service consolidated loans, including the NFPs. At this time, the Government has sufficient loan consolidation capacity; therefore, only the current loan consolidators will consolidate loans. Newly originated consolidations will not be transferred to NFPs at this time. |
| 15 | In the future, will the number of team members continue to be taken into consideration, or will each team be counted as one servicer? | No, the number of team members will not continue to be taken into consideration. Starting with the next allocation period (September 2015), each contract will represent one servicer. |
| 16 | Is it or will it be possible for a smaller NFP to join a larger NFP team? | In accordance with FSA's announcement in September 2013, FSA will not allow new teaming arrangements at this time. |
| 17 | When will COD testing begin? What is the timeframe for getting the NFPs ready to receive new borrowers? | Requirements and schedule will be discussed with NFPs in September. Testing is anticipated to begin with each servicer by the end of November with all NFP interfaces in place to accept new borrowers by around January 2015. Please note that FSA has not yet determined whether all NFPs will test simultaneously or whether NFPs will test in phases. |
| 18 | How will COD access be handled? | The requirements for interfacing with the distribution tool will be provided to the servicers via the existing Change Management process, and, as stated in the contracts, will be put in place at no additional cost to the Government. |
| 19 | Will there be a minimum serviced volume requirement in the RFP for the recompete in 2016? | Requirements for the recompetition have not been finalized. |
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