Ginnie Mae Single Family Master Subservicer

The Ginnie Mae Single Family Master Subservicer contract, solicitation R-OPC-23289, is an indefinite-quantity requirements contract issued by the Department of Housing and Urban Development. The contract provides for non-personal services including loan servicing, default services, asset management, and legal services for a portfolio consisting of 5,356 loans with a principal balance of approximately 282.8 million dollars. The performance period includes a base period from December 1, 2008, to November 30, 2011, with two subsequent one-year option periods extending through November 30, 2013. The contract structure utilizes a detailed CLIN system covering fixed-price and time-and-materials services, including specialized roles such as portfolio liaisons and IT programmers, as well as contingency loan servicing to address potential large-scale issuer defaults. Operational requirements are governed by strict reporting and remittance schedules. Subservicers must submit regular reports on pool loans, foreclosed loans, acquired properties, and whole loans using specific templates such as the SFAP and SFPR series. Financial obligations include adhering to precise remittance due dates for loan sales, collections, and escrow recoveries via wire transfer. The contract also encompasses comprehensive default management, utilizing a three-phase process of preparation, execution, and portfolio integration, supported by limited power of attorney for legal actions such as foreclosure and fund collection. Compliance is further monitored through NIST certification and accreditation for technical requirements and rigorous past performance evaluations.