Quality Control Audit Software

The New Jersey Housing and Mortgage Finance Agency (NJHMFA) is soliciting sealed bids for Quality Control Audit Software through a Request for Proposals issued on May 13, 2026, with an electronic submission deadline of June 3, 2026, at 11:00 AM EDT through the NJHMFA Procurement Portal. The Agency seeks qualified mortgage quality control software vendors to provide a web-based audit platform enabling internal NJHMFA Quality Control staff to perform comprehensive post-closing quality control and loan servicing audits within a secure, centralized system. The solution must support customizable audit selection methodologies (random, targeted, and discretionary selections using fixed and statistical sampling), document management, workflow functionality, reporting capabilities including gross and net defect ratios, supervisory controls, user activity tracking, automated system updates aligned with regulatory requirements, compliance checks for fee discrepancies and TRID-related issues, and third-party reverification services for credit, employment, and income verification. The procurement requires firm fixed pricing with no price increases during the contract period unless approved by the Agency due to unforeseen changes in applicable law or regulation, with bidders required to submit a bid guarantee of 10 percent of the total price (not to exceed $20,000) and performance and payment bonds upon contract execution. The contract will be awarded for an initial three-year term with the possibility of one additional two-year extension upon mutual written consent. Questions must be submitted by May 20, 2026, at 2:00 PM EDT, and NJHMFA strongly recommends that suppliers allocate at least one day before the closing deadline to complete the submission process to avoid technical delays. Evaluation criteria weight bids at 35 percent for experience and staff qualifications, 25 percent for management and implementation approach, 30 percent for cost, and 5 percent each for responsiveness and disadvantaged business enterprise certification status.

The NJHMFA actively encourages participation from Small Business Enterprises (SBE), Disabled Veteran-owned businesses, Minority Business Enterprises (MBE), Women Business Enterprises (WBE), and Veteran-owned businesses as both prime contractors and subcontractors, with certification status weighted at 5 percent of the overall evaluation score. All application hosting, support, and data storage must be maintained within the United States, and vendors must comply with all New Jersey state laws, federal regulations, and Agency procurement standards, including business registration requirements, prevailing wage acts where applicable, equal employment opportunity provisions, and political contribution disclosure requirements. Mandatory insurance requirements include Workers' Compensation, General Liability ($1,000,000 per occurrence), Umbrella/Excess Liability ($5,000,000), Professional Liability ($5,000,000 unimpaired with $50,000 maximum deductible), and Cyber Liability ($5,000,000 per occurrence and aggregate). No incumbent vendors or current contractors are identified in the solicitation documents, and no specific award value or budget range is disclosed. All submissions must be made electronically through the NJHMFA portal at https://njhmfa.bonfirehub.com, with all required documentation including responses to RFP Section 5.0, Exhibits A through G, and Exhibit H (Cost Sheet) submitted in PDF format, with optional attachments also limited to 1,000 MB per upload and PDF format. Payment will be made within 60 calendar days of invoice receipt or service acceptance, whichever is later.