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SHARE AND MANAGE CREDIT RISK ON SERVICED
LOANS
When required, agencies may issue task orders that may require,
but are not limited to the following types of tasks:
- Take a share of the credit risk on loans serviced for
the Government. When required, agencies may issue task orders
that may require, but are not limited to the following types
of tasks:
- Reimburse the Government for a specified fraction of each
serviced loan, or of each serviced loan portfolio that defaults
over the servicing period.
- Service and collect on such loans, to the best of its
ability and with reasonable diligence according to prudent
commercial standards, and subject to any particular servicing
requirements that may be specified in the task order and
in compliance with law and regulations that govern the servicing
of such loans.
WORKOUT OR RESTRUCTURE TROUBLED LOANS
The contractor shall take steps to maximize the Government’s
recovery from troubled loans. When required, agencies may issue
task orders that may require, but are not limited to the following
types of tasks:
- Negotiate with the borrower to restructure loan payments
in accordance with prudent commercial standards.
- Foreclose and sell or supervise sale of collateral.
- Workout agreements with other creditors to protect the
Government’s financial interests in the loan or loan collateral.
LOAN AND OTHER ASSET GUARANTEE SUPPORT SERVICES
The contractor shall assist the Government with loan and
other asset guarantee support services. When required, agencies
may issue task orders that may require, but are not limited
to the following types of tasks:
- Follow up with lenders on unpaid premiums
- Claims processing support
- Refunding of overpayments
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