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SERVICE, MONITOR, AND MAINTAIN GOVERNMENT-HELD
ASSETS
The Government operates programs which provide direct loans
or loan guarantees to individuals or businesses and may be responsible
for servicing, monitoring, and maintaining these loans. Contractor
support services are required to maintain a high level of customer
satisfaction, to ensure the integrity of the programs, and an
agency’s financial services.
Contractor loan services are required to provide
all support necessary for the effective servicing of Government
loans/assets, including providing all necessary processes, facilities,
hardware, software, and personnel. Task orders issued against
a contract resulting from this solicitation may require servicing
of borrower accounts at time periods prior to and during the
repayment period, establishing repayment plans for borrowers,
maintaining and updating accounts on a database and providing
updated information to the ordering agency’s central database,
providing customer service, billing and collection services,
collecting on delinquent loans, reporting to credit bureaus,
and all other activities necessary to properly service a loan.
Task orders may also require such related services as data entry,
storage of printed materials, printing and mailing, clerical
support, provision of office space for government personnel,
providing training to Federal agency personnel and quality assurance
and quality control activities. The loan servicing and asset
management contractor is required to report to and consult with
the ordering agency regularly about the contract and the status
of the work being performed.
VERIFY AND MAINTAIN BORROWER DATA
Agencies may require a contractor to perform some or all
of the tasks associated with the maintenance of borrower data
for the assets being serviced by the contractor. Agencies may
issue task orders that include requirements for loan remittance
processing services which are similar to the services described
below. A task order may require any combination of these services.
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 contractor may provide.
When required, agencies may issue task orders
that include borrower data maintenance services which may require,
but are not limited to the following types of tasks:
- Consistently maintain all data elements required to service
loans in accordance with requirements established by the ordering
agency. The loan servicing and asset management contractor
may be required to match each borrower and all loans for that
borrower to a borrower master account.
- Maintain the same loan identification number assigned to
the loan when it was originated to facilitate easy identification
of all loans.
- Maintain the most current and correct borrower data, including
updating borrower data on its own system within time frames
specified by the ordering agency in the task order. The contractor
may be required to process status changes received from multiple
sources.
- Maintain and link all loan records and documents (e.g.,
letters, forms,) to each loan and borrower it services. For
records and documents related to a borrower with multiple
loans, ensure that these records and documents are referenced
by each loan. Provide immediate, direct access to borrower
master accounts, loan records and documents to authorized
users (e.g., auditors, agency on-site monitors, other agency
representatives, etc.).
- Record into its system a record of all contacts, both written
and oral, with a borrower or a borrower's representative.
Records of oral conversations may be required to be made in
plain English without the use of special codes other than
standard abbreviations.
- Contact the borrower on other sources of information to
verify data on the loan application
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