Program Related Investments Servicing Software

The Washington State Housing Finance Commission is seeking a comprehensive, cloud-based loan servicing software solution to manage its Program Related Investments (PRI) loan portfolio. The procurement targets a software platform capable of efficiently handling approximately 125 Multifamily and non-Single-Family loans, with an average loan value of $1.5 million. The Request for Proposals (RFP) requires a scalable system that is compliant with federal regulations and security requirements, with potential future expansion to include 25,000+ Single-Family Down Payment Assistance loans totaling over $420 million. Proposals are due on August 8, 2025, at 5:00 PM Pacific Time, with the initial contract period scheduled from October 1, 2025, to September 30, 2027. The evaluation criteria will focus on alignment with RFP objectives, quality of proposed strategies, vendor experience and qualifications, cost-effectiveness, and innovation potential. The Commission reserves the right to award the contract to the most advantageous proposal, with options to extend the contract for three additional one-year periods, creating a maximum potential contract term of 5 years.

While specific set-aside designations are not explicitly detailed in the provided documentation, the RFP suggests a comprehensive and competitive procurement process. The software solution must demonstrate robust capabilities for data import, system scalability, and integration with existing technological infrastructure. The Commission anticipates the potential contract could support a diverse range of loan servicing needs, initially covering 125 loans but with clear expectations for future expansion. Although no specific budget range is provided, the average loan value of $1.5 million and the potential future scope of 25,000+ loans indicates a significant technological investment. Vendors will need to demonstrate extensive experience in loan servicing software, federal compliance, cloud-based solutions, and the ability to adapt to the Commission's evolving programmatic requirements. The procurement appears designed to select a vendor that can provide a comprehensive, flexible, and secure loan servicing platform capable of supporting the Commission's current and future operational needs.