Explanation
BACKGROUND
This legislation authorizes the Director of Development to modify the contract with AmeriNational Community Services, LLC for loan servicing to add $65,000.00 and to extend the contract for another year.
AmeriNational services loans provided to small business, home owners, home builders, and multi-family unit builders funded by the city’s Community Development Block Grant (CDBG), HOME Investment Partnership Program (HOME), and the Neighborhood Stabilization Program (NSP) grants.
Competitive bids were solicited for this service through Vendor Services in 2011. The 2011 Mortgage Loan Servicing RFP provided for four, two-year contract periods. One firm responded and was selected (AmeriNational Community Services, LLC).
The original procurement effort and contract, including most renewals, were managed by the Department of Finance and Management. In 2019, the Department of Development took over ownership of the contract as the loans in the portfolio are held by the Department of Development. Since taking over the contract, Development has begun the process of reviewing the loan portfolio. Before the COVID-19 health emergency, the department intended to work diligently to review the portfolio and make it portable to a potential new vendor as the department had intended to advertise for new loan services in mid-2020. Given that most of the files are paper files and we are uncertain when staff will be returning to the office, the portfolio review will take longer than anticipated, therefore advertisement for loan servicing may not occur until 2023. Until such time the portfolio is reviewed and made portable to a new vendor, contract renewals for this service are needed.
Prior contracts/renewals were authorized as follows:
Ordinance 0139-2012 $185,000.00
Ordinance 0112-2013 $120,000.00
Ordinance 0146-2014 $120,000.00
Ordinance 0362-2015 $118,260.00
Ordinance 0400-2016 $103,753.17
Ordinance 0995-2017 $102,463.00
Ordinance 0166-201...
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