Posted Date : December 09,2019
Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID : SW-29761
Government authority located in Ohio; USA based organization looking for expert vendor for loan servicing software modernization.
[A] Budget: Looking for Proposal
[B] Scope of Service:
(1) Vendor needs to provide loan servicing software modernization.
• System generated letters and notices that can be emailed to borrower contact from the system. Examples: audit confirmations; invoices; various notices to clients; new loan letter with payment set-up, payoff letter, final payoff notifications to borrower, notice of revised payment schedules, delinquency letters, notice of items coming due (financial statements, current insurance certificates, employment reports), etc.; Ability to transmit IRS 1098 forms; Tickler
system to notify when letter/notices are to be sent; Accurate/authenticated contact mailing list resident in system; Ability to address correspondence to multiple contacts; Full record of
contact information.
• The new loan servicing application must be on the Salesforce Platform, it can not include any 3rd party systems that use an API connection.
• Client financial information must be secured and ensure confidentiality
• Keystroke logging of any changes made in the system by User ID
o Changes need to be recorded in a searchable format
• Ability to generate data to fulfil requests that may be planned or come as ad hoc/lastminute/unstructured requests
• Insurance (Policy number, expiration date) information needs to be maintained for each record
• Calculate interest as 30/360 or Simple Interest, precise calculations to the penny with rounding options available; Accurate recalculation of interest during deferral periods; Ability to defer accrued interest to a next payment or to a future or final payment; Ability to choose a
repayment structure for deferred interest (i.e. break up total due in even amounts to be added to scheduled payments over a designated period).
• Track checks coming into agency for loan repayments, loan modifications, payments from Attorney General Collection Enforcement, etc.; Process and track refunds by check/EFT
• Capability to record hundreds of fields and create reports using those fields needed to enable Development to handle questions and demands for justification beyond what is required of a typical business; Accurately reporting amounts due from amortization tables, collateral assigned, receipts received, loan balance data, adjustments to scheduled payments, delinquent accounts, drawdowns from loan programs, automatic clearing house (ACH) payments, loan
payoffs, maturity dates, loan histories, aging data, return on investments, Loan Loss Reserve
and any data related to budget projections that may be requested ad hoc/last
minute/unstructured request; Having an embedded calendar to alert staff of dates that fall on
weekend days or are observed as bank holidays; Recording multiple contacts related to the
project; Tracking uses of funds; Tracking critical dates affiliated with the loan; Have a
reportable user audit trail; Allowing multiple string searches; Importing and exporting
payments to and from the automatic clearing house banking application used by the Agency;
Handling the loan termination process, which includes release of collateral.
- for more information about functionality describe in document.
(2) All question must be submitted no later than December 18, 2019.
[C] Eligibility:
- Onshore (USA Only);
[D] Work Performance:
Performance of the work will be Offsite. Vendor needs to carry work in their office location.
Budget :
Deadline to Submit Proposals: December 27,2019
Cost to Download This RFP/RFQ/RFI/Solicitation/Tender/Bid Document : 5 US$
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Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID : SW-29761
Government authority located in Ohio; USA based organization looking for expert vendor for loan servicing software modernization.
[A] Budget: Looking for Proposal
[B] Scope of Service:
(1) Vendor needs to provide loan servicing software modernization.
• System generated letters and notices that can be emailed to borrower contact from the system. Examples: audit confirmations; invoices; various notices to clients; new loan letter with payment set-up, payoff letter, final payoff notifications to borrower, notice of revised payment schedules, delinquency letters, notice of items coming due (financial statements, current insurance certificates, employment reports), etc.; Ability to transmit IRS 1098 forms; Tickler
system to notify when letter/notices are to be sent; Accurate/authenticated contact mailing list resident in system; Ability to address correspondence to multiple contacts; Full record of
contact information.
• The new loan servicing application must be on the Salesforce Platform, it can not include any 3rd party systems that use an API connection.
• Client financial information must be secured and ensure confidentiality
• Keystroke logging of any changes made in the system by User ID
o Changes need to be recorded in a searchable format
• Ability to generate data to fulfil requests that may be planned or come as ad hoc/lastminute/unstructured requests
• Insurance (Policy number, expiration date) information needs to be maintained for each record
• Calculate interest as 30/360 or Simple Interest, precise calculations to the penny with rounding options available; Accurate recalculation of interest during deferral periods; Ability to defer accrued interest to a next payment or to a future or final payment; Ability to choose a
repayment structure for deferred interest (i.e. break up total due in even amounts to be added to scheduled payments over a designated period).
• Track checks coming into agency for loan repayments, loan modifications, payments from Attorney General Collection Enforcement, etc.; Process and track refunds by check/EFT
• Capability to record hundreds of fields and create reports using those fields needed to enable Development to handle questions and demands for justification beyond what is required of a typical business; Accurately reporting amounts due from amortization tables, collateral assigned, receipts received, loan balance data, adjustments to scheduled payments, delinquent accounts, drawdowns from loan programs, automatic clearing house (ACH) payments, loan
payoffs, maturity dates, loan histories, aging data, return on investments, Loan Loss Reserve
and any data related to budget projections that may be requested ad hoc/last
minute/unstructured request; Having an embedded calendar to alert staff of dates that fall on
weekend days or are observed as bank holidays; Recording multiple contacts related to the
project; Tracking uses of funds; Tracking critical dates affiliated with the loan; Have a
reportable user audit trail; Allowing multiple string searches; Importing and exporting
payments to and from the automatic clearing house banking application used by the Agency;
Handling the loan termination process, which includes release of collateral.
- for more information about functionality describe in document.
(2) All question must be submitted no later than December 18, 2019.
[C] Eligibility:
- Onshore (USA Only);
[D] Work Performance:
Performance of the work will be Offsite. Vendor needs to carry work in their office location.
Budget :
Deadline to Submit Proposals: December 27,2019
Cost to Download This RFP/RFQ/RFI/Solicitation/Tender/Bid Document : 5 US$