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. Additionally, the selected provider must manage monthly payment processing, including the collection and posting of principal, interest, escrow, and fees, while maintaining documented audit trails for partial payments, returned payments, and reversals. The scope of work also covers comprehensive escrow administration to establish and maintain accounts for taxes, insurance, and other required reserves. The agency requires the monitoring of insurance renewals and hazard-insurance compliance for all escrowed loans. To ensure high-quality borrower communication, the provider must operate a dedicated service channel via phone, email, or portal with defined response times to handle inquiries, disputes, and payment questions. Transition and closeout support are required to collect mortgage payments, payoffs, escrow, and late fees from the delivery date of the mortgage until the principal and interest are paid in full. The agency specifies that the provider must offer multiple payment options to the mortgagor, including automatic payment, online payment, pay-by-phone, and mail-in options, at no cost to the mortgagor or the county. All work must be performed offsite, and eligibility is strictly limited to onshore, United States organizations. Bidders must submit their proposals digitally via email or online, and the agency is currently seeking budget proposals for these services.