Description

The Office of Housing – FHA Commissioner, U.S. Department of Housing and Urban Development (HUD), requires a comprehensive HECM loan servicing and accounting business solution that fully supports all functional requirements, processes, steps, timelines, and reports associated with FHA's current HECM insurance program and regulatory changes during the period of performance. The Contractor's HECM Solution shall provide all HECM portfolio servicing and financial transactions for all active and terminated cases throughout the full lifecycle of a HECM, including associated processing for pre-endorsement and underwriting, endorsement, claims, and assigned notes. The applicable North American Industry Classification System (NAICS) code assigned to this procurement is 541512 Computer Systems Design Services, PSC Code DA10: IT and Telecom - Business Application/Application Development Software as a Service. Services shall include: Deliver web-based, end-to-end reverse mortgage loan business and accounting services to manage HUD's HECM portfolio Provide and maintain accurate HECM business services for all active and historical loan level records Provide FHA management with ready access to data for financial, budgetary, and user-generated reporting Provide business intelligence and management reporting tools Provide automated reconciliation support of loan balances and posted transactions between its HECM business services and FHA's business partners (FHA-approved HECM lenders, servicers, and investors; GNMA; etc.); automated or manual HECM records Provide the ability to quickly adapt to legislative, regulatory, and other administrative changes in the policies and procedures based on industry best practices for financial management and reporting; Federal government and Credit Program accounting; auditing; state-of-the-art information technology, security, records management, and privacy standards; and project management. Provide a HECM services Help Desk to address operational and technical issues related to delivery, implementation, operation, servicing, and validation of the HECM portfolio and its related financial transactions Provide training to HUD Headquarters, Albany Financial Operations Center, Single Family Housing origination and servicing staff; Office of Housing Counseling, HECM servicers, lenders, and investors; and FHA-approved contractor staff on HECM business services and their related financial transactions. . Provide all FedGAAP-compliant accounting treatments, account reconciliations, posting entries, and reports associated with the HECM insurance program, its insurance-in-force loan . portfolio, its HECM claims, and its Secretary-held Assigned portfolio. Provide accounting treatments to FHA's General Ledger system (FHA-SL) that accurately reflect – and reconcile with – FHA and HUD's quarterly and year-end financial statements; monthly Treasury reporting; internal management reports, and disclosures to internal and external governance …

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• Attachment 1