Master Servicer

The Texas Department of Housing and Community Affairs (TDHCA) is seeking a qualified Master Servicer to provide services related to its Single Family Mortgage Loan Program, which offers first and second lien mortgage loans to low and moderate-income homebuyers through the My First Texas Home Program and the My Choice Texas Home Program. The Master Servicer will be responsible for reviewing program documentation, working with TDHCA on lender guidelines, assisting with lender training, securing commitments from Ginnie Mae/Fannie Mae/Freddie Mac, reviewing loan files for compliance, purchasing loans, pooling and delivering mortgage-backed securities, servicing all mortgage loans and down payment assistance loans, and providing monthly reporting. The initial contract term is expected to begin on May 1, 2024, and terminate on August 31, 2027, with the option for TDHCA to extend for two additional one-year periods. The RFP requires the Master Servicer to pay a Service Release Premium to TDHCA and provides detailed pricing instructions.

TDHCA has determined that HUB subcontracting opportunities are probable, and the completion of a HUB Subcontracting Plan is a required part of the response. Respondents must demonstrate experience in servicing first and second lien loans for state Housing Finance Agencies, as well as expertise in loss mitigation and foreclosure procedures. The contract will serve jurisdictions in Travis County and the City of Austin, and the selected contractor will be required to comply with HUB program requirements, including providing notification to subcontractors and submitting progress reports. The deadline for submitting proposals is March 22, 2024.