|
 |
INTRODUCTION
Loan Servicing and Asset Management include, but are not
limited to, (1) Servicing, monitoring and maintenance of Government
held loans/assets, (2) Refinancing Government-held loans/assets,
(3) Averting defaults and collecting on delinquent and defaulted
loans/assets, (4) Sharing and managing risk on services loans/assets,
and (5) Servicing and monitoring loans and other asset guarantees.
The assets may be any type including, but not limited to, consumer
loans, current and distressed bank loans, single family and
multifamily project mortgage loans, education loans, small business
loans, agricultural loans, premiums, etc.
Agencies may issue task orders for one or more
services, which are similar, but not limited to, the services,
described below. These services itemize some of the types of
tasks that the contractor may be required to perform under this
contract, but this is not intended to be an all inclusive list.
Rather, it illustrates the types of services a loan servicing
and asset management contractor provides. The contractor is
responsible for ensuring legal sufficiency for its actions.
The contractor is required to submit any proposed legal service
subcontractor to the ordering agency contracting officer for
consent in accordance with the subcontracting clause in Section
C.3.70 of this solicitation.
The Government does not guarantee the assignment
of any minimum number of loans or value to any loan and other
asset servicing/management contractor.
The following description of services illustrate
some of the types of tasks that a loan service contractor (awarded
a contract under this procurement) may be required to perform
under this contract. This is not intended to be an all inclusive
list. It is just meant to illustrate the types of services that
Real Estate Recovery, Inc. provides.
The following is a list of services offered:
- Verify and Maintain Borrower Data
- Exchange Data with an Agency’s Central Database
- Issue Forms, Disclosures and Letters
- Produce Project Materials
- Process Status Change Updates
- Cancel Loans
- Convert Loans to Repayment Status
- Calculate Interest
- Assess Fees and Late Charges
- Bill the Borrower
- Process Borrower Remittances
- Process Borrower Requests for Remittances Via Pre-authorized
Debit
- Determine Income Contingent Repayment
- Prepare Annual Statements
- Reconvert Loans
- Collect on Delinquent Loans
- Resolution of Complaints
- Administer Deferments and Forbearances
- Discharge Loans Due to Death, Disability, Bankruptcy, False
Certification, etc.
- Loan Consolidation
- Transfer Loans
- Transfer Defaulted Loans
- Accept Loans from Another Servicer or DCS
- Process Returned Mail
- Perform Skip-Tracing
- Report to Credit Bureaus
- Provide Customer Service
- Reconcile with an agency’s central database
- Issue Welcome Letters
- Enforce Creditor’s Rights Under the Loan
- Protect Loan Collateral
- Share and Manage Credit Risk
- Workout or Restructure Troubled Loans
Each of these services is described in more detail on the following
pages.
|
