Rehab Loan and New Construction Title Company
Closed State & local contract opportunity Posted
- Solicitation number
- 14007-0-2025-BG
- State
- Wisconsin
- Responses due
Opportunity facts
- Jurisdiction
- NIGP codes
- UNSPSC codes
- 84101602 Bi lateral or multi lateral aid
- 84121602 Letter of credit services
- 84121605 Currency conversion service
- 93151701 Currencies or coinage
- 93151608 Government or central bank services
- 84141601 Consumer credit gathering or reporting services
- 64151500 Representative money or currency
- 84121603 Currency exchange services
- 84101603 Non governmental aid
- 84121604 Spot exchange transaction services
Show all 42
- 84121601 Funds clearance services
- 93151702 National bank notes
- 84141701 Business credit gathering or reporting services
- 80131702 Title search services
- 80131802 Real estate appraisal and valuation service
- 64150000 Monetary instruments or currency
- 84120000 Banking and investment
- 84111700 Corporate finance
- 84121600 Funds transfer and clearance and exchange services
- 84122000 Cash vault services
- 64151502 Commercial banknotes
- 64151504 Local currency
- 64151505 Digital currency
- 84101604 Government aid
- 84121501 Privately owned banks
- 84121502 Publicly owned banks
- 84121503 Credit unions
- 84121504 Development finance institutions
- 84122001 Deposit verification services
- 84141500 Governmental credit agencies
- 84141700 Business credit agencies
- 84141702 Value added network VAN services
- 80131700 Escrow and title services
- 84121500 Banking institutions
- 93151700 Currency
- 64151503 Coins or coinage
- 64151501 National banknotes
- 84101601 Co financing
- 84121607 Operating lease finance service
- 84121606 Remittance processing services
- 93141901 Agricultural commercial banking services
- 80131703 Escrow account services
- Point of contact
-
- Brittany Garcia bgarcia@cityofmadison.com (608) 243-0529
Opportunity details come from vendornet.wi.gov. Updated .
About this opportunity
The City of Madison Community Development Division is seeking a title company to provide comprehensive services for its Rehabilitation Loan Programs through Request for Bids (RFB #14007-0-2025-BG). The primary scope involves facilitating loan closings and managing escrow accounts for rehabilitation and new construction loans, with specific responsibilities including preparing closing documents, issuing ALTA loan policies, conducting closings, and disbursing funds. Contractors must handle all communication and documentation electronically, collect title and recording costs from loan proceeds, and collect and remit loan application fees to the City within 5 business days. The contract term is three years with two optional one-year extensions, and the response deadline is February 5th, 2025 at 2:00 PM CST. Pricing must be submitted as an all-inclusive, not-to-exceed fixed fee per loan closing that covers title insurance, closing, construction escrow, and disbursing services, with specified percentage or dollar amount increases for years 2-5 of the contract.
While no specific set-aside designations or restrictions on organizational types are mentioned in the documentation, the contract appears to be open to qualified title companies capable of meeting the detailed service requirements. The procurement does not indicate preferences for disadvantaged enterprises or specific vendor categories. There is no information provided about incumbent vendors or existing technological infrastructure that would require integration. Though exact budget ranges are not specified, the contract's structure suggests compensation will be based on a per-loan closing fee, with the total contract value dependent on the number of rehabilitation and new construction loans processed during the three-year term. Interested title companies should carefully review the full RFB document to understand the comprehensive service expectations and pricing methodology required for this municipal contract opportunity.
Files
| File | Type | Posted |
|---|---|---|
| RFB 14007.pdf |
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