Awarded vendors
- Dovenmuehle Mortgage, Inc.
Description
The Housing Opportunities Commission of Montgomery County (HOC) awarded a single‑award contract to Dovenmuehle Mortgage, Inc. to serve as the subservicer for its single‑family mortgage loan portfolio (≈ 569 loans, total principal ≈ $32.6 M). The contractor must collect and remit payments, manage escrow accounts, produce monthly statements, provide borrower‑portal access, handle loss‑mitigation activities, and deliver extensive monthly and annual reporting. Pricing is to be submitted as a flat fee per loan or per principal balance, with optional à‑la‑carte fees. The contract has a base term of one year with up to four one‑year extensions (maximum five years). HOC requires comprehensive background‑screening of all on‑site personnel, insurance coverage, and an annual independent audit.
• Scope: full‑cycle mortgage loan sub‑servicing for whole‑loan and subordinate‑loan portfolios.
• Pricing model: flat‑fee per loan or per principal balance (no disclosed dollar amounts).
• Term: 1‑year base, renewable up to four additional one‑year periods.
• Mandatory compliance: criminal screening, insurance limits, annual audit, and detailed reporting.