Renewal Notice - Single Family Loan Servicer (Renewal Option 2 of 2)

This is a renewal notice for a contract with the Illinois Housing Development Authority (IHDA) to provide single family loan servicing. IHDA intends to exercise the second renewal option under its existing contract with Dovenmuehle Mortgage, Inc. for this service. The renewal contract term will be from November 1, 2024 to October 31, 2027. The initial contract term was 4 years, with a 3-year renewal option. The total award amount for the initial term was $6,600,000, and the renewal term is $4,950,000. This renewal remains subject to the review and formal approval of IHDA's Board. If the Board does not approve the renewal, IHDA will cancel the renewal.

There are no set-aside designations or restrictions on the types of organizations that can respond, as this is a renewal of an existing contract. The incumbent vendor is Dovenmuehle Mortgage, Inc., who was the successful bidder in the original competitive solicitation process. There are no Business Enterprise Program (BEP) or Veteran's Business Program (VBP) utilization requirements associated with this contract. The renewal opportunity does not have a listed budget range, as the award amounts are specified in the contract details.