332-RFP26-1000 Underwriting Services

The Texas Department of Housing and Community Affairs (TDHCA) has issued Request for Proposals (RFP) 332-RFP26-1000 for Underwriting Services, seeking to add up to four additional firms to their existing underwriting team for single family Mortgage Revenue Bond (MRB) issues. The procurement is specifically focused on firms with strong retail distribution capabilities to serve as Senior Manager and/or Co-Manager for proposed bond issues. Proposing firms will be evaluated based on their commitment to housing finance, distribution capabilities, underwriting experience, personnel qualifications, fee structure, and ability to generate Down Payment Assistance funds. The RFP requires expertise in managing mortgage loans through the My First Texas Home Program, with experience handling FHA, VA, and USDA-RD loans that can be pooled into Ginnie Mae Mortgage-Backed Securities. Key proposal submissions are due on November 5, 2025 at 2:00 PM CT, with anticipated contract execution on November 19, 2025, and work scheduled to commence on December 1, 2025. The initial contract term will run through August 31, 2027, with no annual extensions planned.

The procurement has specific restrictions, notably excluding current TDHCA Underwriting team members from responding. While subcontracting opportunities are deemed improbable, the HUB (Historically Underutilized Business) Program has established goals of 26.0% for other services and 21.1% for commodities. The current Master Servicer for new mortgage loans is The Money Source (TMS), operating on a released servicing basis, which suggests potential integration requirements for new underwriting firms. The department has a substantial track record, having financed over $3 billion in mortgage loans using bond proceeds over the past five years, indicating a robust and established program. While specific award values are not explicitly stated, the scale of past financing and the desire to add multiple firms suggest a significant potential contract value. The solicitation falls under NIGP Class/Items 946-64 and 946-30, and no pre-solicitation conference is scheduled. Interested firms should carefully review the comprehensive terms and conditions, which cover 83 distinct sections addressing legal, operational, and administrative requirements.