Loan Administration Services

The Pinellas County government authority located in Clearwater, Florida is seeking professional loan administration services to service the county's amortizing loan portfolio. The agency requires a vendor to handle loan onboarding by accurately setting up each loan in a servicing system with amortization schedules, interest rates, maturity dates, and escrow requirements. The chosen provider must manage payment processing, which includes the monthly collection and posting of borrower payments for principal, interest, escrow, and fees, as well as processing partial payments, returned payments, and payment reversals with documented audit trails. The scope of work also covers escrow administration, requiring the establishment and maintenance of escrow accounts for taxes, insurance, and other reserves, alongside monitoring insurance renewals and hazard-insurance compliance. The agency requires the operation of a borrower service channel via phone, email, or portal with defined response times to handle inquiries, disputes, payment questions, and general servicing requests. For transition and closeout support, the provider must collect mortgage payments, payoffs, escrow, and late fees from the delivery date until the principal and interest are paid in full. The agency specifies that the provider must offer automatic, online, pay-by-phone, and mail-in payment options at no cost to the mortgagor or the county. Eligibility is restricted to onshore organizations based in the United States. The agency expects the performance of the work to take place offsite. Bidders can submit their responses digitally via email or through an online portal. The agency has not disclosed a set budget and is looking for proposals to determine the cost of these services. No specific key dates are provided in the initial project description.