Single Family Master Servicer and Sub-Servicer

The Washington State Housing Finance Commission is requesting proposals for master loan servicer and sub-servicer operations for the Home Advantage Program and House Key Program, with proposals due August 26, 2026. The Commission serves Franklin, Grant, Grays Harbor, Chelan, and Yakima counties in Washington. Minimum qualifications are restrictive: bidders must be approved active issuers of Ginnie Mae, Fannie Mae, and Freddie Mac securities in good standing, with adequate dedicated warehouse lines, computerized loan tracking systems compatible with the Commission's HOTB Software, and prior experience with daily-priced market-rate programs and community second mortgage servicing.

The scope encompasses purchasing mortgage loans from participating lenders, pooling loans into GSE securities, servicing loans throughout their lifecycle including collections and loss mitigation, managing delinquencies and foreclosures, and handling downpayment assistance loans. Bidders must submit detailed cost breakdowns separating pricing for master servicing versus sub-servicing roles and broken out by scope. Quality control programs, second mortgage servicing ability, and financial soundness are required. Bidders must also submit diverse business inclusion plans and workers' rights certifications as mandatory proposal components.

The Commission has committed funding for this procurement, though the exact amount has not been finalized. All contract awards are contingent on funding availability. The initial contract term is two years with options to extend for two additional two-year periods; the Commission reserves the right to cancel at any time. Evaluation will weight bid pricing as a percentage of outstanding principal amount, experience with wholesale and retail mortgage origination and securitization, prompt loan packaging capabilities, warehouse mortgage capacity, prior administration of tax-exempt mortgage revenue bond programs, and quality control programs. An optional pre-bid conference is scheduled July 28, 2026 at 10:00 AM Pacific Time via Zoom. Questions are due July 30, 2026 at 2:00 PM Pacific Time, with answers posted August 7. Finalist interviews are anticipated the week of September 7, 2026, with contract negotiations in September/October and work beginning January 2027.