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Request For

RFP - Document Custodian


Document Custodian

Kentucky Housing Corporation (KHC) is seeking to replace its Ginnie Mae ("GNMA") Document Custodian starting August 1, 2020. KHC will enter Competitive Negotiations with any Bidder that is deemed a Responsible and Responsive Bidder to this RFP.

KHC is the state housing finance agency and a political subdivision of the Commonwealth of Kentucky. Created by the General Assembly in 1972, KHC's mission is to invest in quality housing solutions for families and communities across Kentucky.

KHC is committed to its mission of promoting, developing, and providing a wide range of housing opportunities to assist lower- and moderate-income individuals and families obtain decent, affordable housing. In fulfilling that commitment, KHC originates FHA, VA, and RHS single-family residential mortgage loans and pools them into GNMA pools. As of March 31, 2020, KHC was servicing 609 pools consisting of approximately 15,000 loans. For the twelve months ending March 31, 2020, KHC issued 85 GNMA pools aggregating approximately $383.5 million and consisting of 2,980 loans, and experienced liquidations of approximately 1,400 loans. KHC has not been a servicing buyer or seller.

Services Requested

The firm selected must provide:

  • All GNMA Document Custodial services in compliance with applicable GNMA Document Custodian requirements for pools issued beginning August 1, 2020; and
  • One-time recertification services on compliance with applicable GNMA Document Custodian requirements for pools issued and serviced by KHC outstanding at July 31, 2020, which services must be completed by December 31, 2020.

The firm selected will primarily work with KHC's finance staff. The initial term of this contract for services will be for 3 years. At KHC's sole discretion, the contract may be renewed an additional two times under the same terms and conditions.

For complete details, please review the full Document Custodian RFP.

Submission of Proposals

Proposals must be submitted electronically, preferably in a single PDF document, via email, no later than the time indicated below. See Section 3 of Exhibit A regarding the Kentucky Open Records Act and exemptions thereto

   To: Lori Davis
         Kentucky Housing Corporation
         Subject line to read: Proposal – Ginnie Mae Document Custodian

Proposals received after the deadline will not be accepted or reviewed for selection, unless the Bidder can provide evidence that the cause of the delay was beyond the Bidder’s control. The Purchasing Officer will make a final determination as to whether to consider the Proposal.

Proposals must be received by 5 p.m. ET, Monday, June 15, 2020.