Vendor Q and A FINAL~1.pdf

Illinois Housing Development Authority

Loan Servicing System RFP 24-551HDA-LEGAL-B-38123

Vendor Questions and Answers

1. Will a Non-Disclosure Agreement be acceptable between IHDA and the vendor prior to proposal submission?

A. IHDA will not be able to execute a non-disclosure agreement with a vendor prior to submission of a proposal. Pursuant to Section A.16 of the RFP, vendors may request confidential treatment of portions of their proposals.

2. Please clarify the locking of pricing.

A. The pricing document is locked to ensure vendors cannot edit the pricing document. In addition, please be sure to follow the instructions regarding locking pricing in BidBuy when submitting your proposal.

3. Regarding M.14 “The Software Application must be completely responsive with support for Android and iPhone/iPad mobile platforms”…is this meant for customer support?

A. Customer support.

4. Provide clarification regarding whether you are looking for a loan servicing system or a subservicing/master servicer.

A. IHDA is looking for a loan servicing system that has the ability to service loans in accordance with the respective Agency reporting requirements as indicated in the

Mandatory Business Requirements section. Currently, IHDA does get sub-servicing data via a daily electronic data transfer, but the solution should not be limited to his and should adhere to the requirements located within the RFP. IHDA is not looking for a Master

Servicer.

5. Regarding Section D.13 “Describe, in detail, any capacity the Software Application has to handle Tax Credits”…provide clarification regarding what type of work needs to be done regarding Tax Credits.

A. These are multi-family focused, which can be used to offset federal income taxes and provide equity financing for the project. Capacity could include, but is not limited to, tracking of funding sources (aggregate level and loan level), with the ability to report off remaining balances and allocations already used. Some examples are Low-Income

Housing Tax Credit (LIHTC) and Illinois Affordable Housing Tax Credit (IAHTC)

6. Under Development and Testing, please provide clarification regarding the test environment configuration (memo, space and patching).

A. The test environment should be a duplicate of the production environment or most recent release of application for UAT with the ability to refresh the database to most recent COB.

7. From the description, it appears you are looking for the system to provide state by state compliance for conventional consumer purchase loans. In addition, servicing of loans that are Fannie Mae or Freddie Mac require GSE reporting. Please confirm these requirements.

A. IHDA is looking for a loan servicing system that has the ability to service loans in accordance to the respective Agency reporting requirements as indicated in the Mandatory

Business Requirements section. These loans would only be located in the State of Illinois and would be comprised of FHA, VA, and USDA loans, in addition to Conventionally underwritten loans.

8. Is this a new requirement? If not, who is the incumbent?

A. This is not a new requirement. The incumbent vendor is The Mitas Group.

9. Can you provide guidance on the budget earmarked for this?

A. IHDA cannot provide information regarding the budget earmarked for this.

10. What is the anticipated timeframe for system go-live?

A. No specific timeframe, but IHDA would like to move in an efficient manner in the event an award is made.

11. Can you give more specifics on the requirement that the Application “automate workflows”?

A. The system to have the ability to automate certain parts of the workflow based on pre-determined criteria being satisfied. Workflow automation would be used to increase the efficiency throughout the loan’s cycle by eliminating certain human steps and ensuring the process works the same way every time.

12. Is IHDA interested in a Point-of-Sale (POS) feature?

A. Only when applicable to the mortgage housing market (from a servicing aspect).

Functionality could include borrowers making payments directly through an eternal portal and other payment processing services.

13. Is IHDA interested in additional features/solutions such as managing servicing risk, credit risk, repurchase risk?

A. If the additional features/solutions are relevant to loan servicing, then yes. However, we are not looking for a separate risk system at this time, so it would have to be native to the solution.