Title
Loan Servicing for Affordable Housing Programs (Ordinance S-45385)
Description
Request to authorize the City Manager, or his designee, to enter into a contract with AmeriNational Community Services LLC dba AmeriNat to provide loan servicing for the Housing Department. Further request authorization for the City Controller to disburse all funds related to this item. There is no impact to the General Fund.
Report
Summary
This agreement will provide loan servicing for affordable housing assistance programs in the Housing Department's portfolio. In addition to loan servicing, other services includes collections, account monitoring, cash-flow analysis, delinquency management, forbearance plans, online accounting services, loan subordination processing, and other loan portfolio management services. The Housing Department loan portfolio includes a variety of complex loans for affordable multifamily rental projects, special needs housing, and homeownership assistance mortgages. These loans are generally financed with federal funds.
Procurement Information
RFP FY19-086-05 Loan Servicing (Real Estate) was conducted in accordance with Administrative Regulation 3.10. The solicitation was emailed to 411 vendors and posted on the City of Phoenix website. One offer was received by the Housing Department on Nov. 28, 2018. The offer was evaluated based on price, responsiveness to all specifications, terms and conditions, and responsibility to provide the required services. The offer submitted by AmeriNational Community Services LLC dba AmeriNat is deemed to be fair and reasonable based on the market and previous contract pricing.
Contract Term
The contract term will be for five years, beginning on or about May 1, 2019, and end on April 30, 2024.
Financial Impact
The aggregate contract value will not exceed $160,000 (including applicable taxes). There is no impact to the General Fund. Funds will come from federal grant resources.
Department
Responsible Department
This item is submitted by Deputy City Manager Deanna Jonovich and the Housing Department.