Corporate Training Solution Colorado

							COLORADO HOUSING
AND FINANCE AUTHORITY

REQUEST FOR PROPOSALS FOR A COMMERCIAL LOAN SERVICING SYSTEM


OVERVIEW
Colorado Housing and Finance Authority (CHFA or the Authority), is a quasi-
governmental body corporate and political subdivision of the State of Colorado,
conducting its operations without receiving tax dollars or other funding from the state.
CHFA invites qualified companies to submit proposals to provide an automated solution
to support the Commercial Servicing Department in the Loan Servicing Division. CHFA
has a Commercial Servicing Department that services approximately 900 loans that
include both multi-family and small business loans. CHFA intends to select one vendor
to provide a solution and implementation services for the Authority. CHFA reserves the
right to reject any or all proposals and to accept or reject any item or combination of
items in any proposal. Any proposal received by CHFA must be valid and binding for a
period of thirty (30) days beyond the submission deadline.

All proposals must be submitted either in paper or electronic format to:

Rod Hardin
Director, Information Technology
Colorado Housing and Finance Authority
1981 Blake Street
Denver, CO 80202
rhardin@chafinfo.com

The deadline for submission is 5:00 pm MST October 22, 2010. No alteration of the
proposal will be accepted or made after submission.
QUALIFICATIONS
 1. CHFA and the selected vendor(s) will enter into a software and vendor
    agreement describing the general terms under which the solution will be
    supported and the services will be performed, subject to the execution of
    individual statements of work.

 2. CHFA is covered by C.R.S. 8-17.5-101, which provides that Colorado state
    agencies and political subdivisions may not enter into, or renew, a contract for
    services with a contractor who knowingly employs or contracts with an illegal
    alien to perform work under the contractor or who knowingly contracts with a
    subcontractor who knowingly employs or contracts with an illegal alien.
    Therefore, unless there is an applicable exception, the vendor(s) selected will
    need to certify that the Vendor does not knowingly employ or contract with an
    illegal alien: and that the Vendor participates in the Department of Homeland
    Security and Social Security Administration E-Verify Program or the State of
    Colorado Program. An exemption may apply.

 3. The proposed solution will need to be compatible with the current CHFA IT
    Architecture as described below:
     Microsoft SQL Server 2005 or 2008
     Microsoft Windows 7 Desktop OS
     Microsoft Internet Explorer version 8
     Dell Servers/Workstations
     VMWare version 4.0

 4. The proposed solution will need to support CHFA Commercial Loans Products,
    Business Processes, and IT Architecture as described on the following pages.




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SUBMISSION REQUIREMENTS
 1. Requests for additional information and/or questions and clarifications not
    answered in this RFP should be sent via e-mail by October 8, 2010, only to Rod
    Hardin at rhardin@chfainfo.com. All questions as well as answers will be posted
    in the RFP section of CHFA’s website at www.chfainfo.com/news/RFPs.icm. This
    will be available by October 15, 2010 if not sooner.

 2. All interested parties who can demonstrate a solution to support the requirements
    listed in this RFP are requested to submit a proposal containing evidence they
    can meet the expectations previously described.

 3. Additional information which is reasonably necessary for the Authority to fairly
    and comprehensively evaluate proposals may be enclosed. It should be limited
    to information which clarifies and substantiates written responses.

 4. During the evaluation process, the Authority reserves the right to request
    additional information or clarifications from the vendor submitting the proposal, or
    to allow corrections of errors or omissions. At its discretion, the Authority may
    request any one or all vendors submitting proposals to make oral presentations
    as part of the evaluation process.

 5. All submitted proposals become the property of CHFA’s. The information therein
    as well as any attachments and any subsequent agreement(s) may become
    public records.

 6. Vendors submitting a proposal for the product and service categories in the RFP
    shall provide the following items:
        Cover Letter
        Completed General Information
        Completed Key Features Questionnaire
        Reference List

 7. By submitting a proposal, vendors agree they waive any claim against the
    Authority, and its respective agents, affiliates, officers and employees for
    recovery of any costs or expenses incurred in or associated with preparing and
    submitting a proposal.

 8. CHFA reserves the right to not award a bid after reviewing all responses to this
    proposal.
BID PROCESS TIMELINE
 Posting of CLS Evaluation Solution RFP on CHFA Website – September 22, 2010
 Submit RFP questions – October 8, 2010
 CHFA responses to questions – October 15, 2010
 Deadline for Submission of Proposals – October 22, 2010 (5:00 pm MST)
 Interviews with Finalist Service Providers - TBD
 Selection of Vendor - TBD




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General Information
1.00 Company Details                      Vendor Response
1.01 Company Name

1.02 Company Web Site

1.03 Company Address

1.04 Company Size

1.05 Financial Position

1.06 Company Origin / Longevity

1.07 Target Market

1.08 Product Origin / Longevity

1.09 Current Version
     Next Version (including target
1.10
     release date)
     Number of clients (please provide
1.11
     references)
1.12 Local Denver Presence

1.13 Professional Services capabilities

1.14 Training capabilities

1.15 Documentation and Online Help

1.16 Quality Release Plan

1.17 SAS70 Compliant
       Other comments Vendor may
1.18
       deem relevant…




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Key Features Questionnaire
2.00 CHFA Business Process Support                       Vendor Response
     Support for CHFA Multi-Family and
     Small Business Loan Product Types
     (see Appendix A
       [http://www.chfainfo.com/documents/Appendix_A_C
2.01   HFA_MultiFamilyProducts.pdf]   and Appendix
       B[http://www.chfainfo.com/documents/Appendix_B_
       CHFA_BusinessFinanceProducts.pdf ]. Specify
       support for each individual loan
       type.
       Support for common borrower
2.02   information with multiple loans
       associated to borrower.
       Support for import data from a
       Commercial Loan Production
2.03
       Systems (Specify all types of
       import, XML, etc.)
       Specify support for Cashiering
       functions with specifics around how
2.04
       cash is applied to loans and
       reconciled on a daily basis.
       Support for aggregate escrow
       accounting. Which escrow
       accounting methods does the
2.05   system support? How does the
       system support annual escrow
       accounting and borrower shortages
       and overages.
       Support for various types of fees
2.06   including fees received, fee
       amount, and date.
       Support for loan participations
       including what percentage is
2.07
       assigned to each participant. Track
       payment splits.
       Support for draw requests, change
2.08
       orders, and disbursements.

     Support for field length for large
2.09 loan amounts (100 millions),
     escrow balance (100 thousands),

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       escrow advance (100 thousands),
       late fees (10 thousands), and
       payment amounts (100 thousands).
       Specific length supported for major
       fields such as those above.
       Support for multiple funding
2.10
       sources on a single loan.
     Support for various types of
     interest methods including ARM,
2.11 Step Rates, Interest Only, Default
     Interest, Prepaid Interest and Zero
     Percent.
     Support for various term payment
2.12 methods including monthly,
     quarterly, and annually.
     Support for other lien holders in the
2.13 name of the lien holders including
     Qic/Qal transactions.

       Support for 360 and 365 accrual
2.14
       methods at the loan level.

       Support for suspending the accrual
2.15
       of interest for a specified period.
       Support for multiple book
2.16
       accounting methods.
     Support for multiple payments
     based on effective dates.
     Backdating of payments. Ability to
2.17 stop applying payments (stop
     codes).Setting up step rate
     payments with effective dates (Rate
     and P&I)
     Fee association with general ledger
     accounts. Ability to generate
2.18
     appropriate GL entries for JD
     Edwards One World XE
     Support for handling tax and
     insurance payments for escrow
2.19 accounting. Ability to handle
     multiple payment accounts to
     disburse and track funds. Specify

                                             8
       Hazard, Flood, Mortgage Insurance
       handling and interface with HUD
       portal for MI payment.
       Support for investor
       accounting/reporting for Fannie
       Mae, Freddie Mac, and Ginnie Mae.
2.20
       Also includes remittance to
       investors. Manual and electronic
       filing capability. HUD Reporting?
       Support for construction loans
       including draws, transfer to
2.21
       permanent loan, and amortization
       begin date.
       Support for Loan Collateral Tracking
       including UCC filings, continuation
2.22
       deadlines, UCC terminations, and
       changing the collateral.
       Support for billing including loan
2.23
       statements and/or coupons.
       Support for delinquencies and
2.24
       foreclosures.
       Support for borrower
       quarterly/annual financial
2.25   statement follow up to ensure
       compliance with stated loan
       provisions.
       Support for loan write offs including
2.26
       appropriate GL entries.
       Support for keeping transaction
       loan history. Support for keeping
       staff login credentials associated
       with all loan transactions including
2.27   movement of cash. Specifically
       address audit trail capabilities for
       loan changes and vendor/payee
       changes (Reports, other database
       tracking capabilities).
       The ability to change basic loan
       data without having to restructure
       the loan. Identify which cases
2.28
       require restructuring and which
       don’t. Include loan modifications to
       interest rate and principle/interest.


                                               9
       We prefer changing the existing
       loan rather than cancelling the loan
       and setting up a new one.
       The ability to pay a third party for
       county taxes (CoreLogic) which
2.29
       then remits payments to Colorado
       Counties
       Out of the box reports for all major
       servicing functions (please include
       samples of the major reports and a
2.30
       list of all reports). Describe
       capability to report on system flags
       such as customer complaints.
       Describe the various ways that a
       loan and/or borrower can be
2.31
       located through search such as
       name.
       Year end statements including
2.32   1098’s, 1099’s, and tape
       generation to IRS.
       Describe loan history reporting and
       the ability to view loan histories for
2.33
       all transaction types such as
       payments, disbursements, etc.
       Ability to interface with Consumer
2.34   Reporting Agency (Credit Bureau)
       for credit checks.
2.35   Borrower loan web/portal.
       Abililty to support fees for GASB
2.36   net fees which is amortizing fees
       over the life of the loan.
       Electronic submission of portfolio
2.37   and default data to investors such
       as HUD.
2.38   Audit Confirmation Letters
       Ability to set field edits to require
       fields be present or require certain
       values. Provide administration
       functionality to control field edits.
2.39
       Ability to customize screens/forms
       to flow according to our workflow
       and also add user defined fields as
       necessary.


                                                10
     Interfaces to/from Lock Box, ACH,
2.40 and FHA Mortgage Insurance
     including scheduler capabilities.
     Default Rate Increase support
     which includes rate increases above
2.41
     note rate with a specific payment
     date.
     Loan write offs including keeping
2.42 the loan on the system for tracking
     purposes.
     Service Loans including serviced by
     others, serviced for others, tracking
2.43 for various fees including service
     fees and late fees with interface to
     GL.
2.44 Hazard Loss Claim Tracking
     Vendor setup including IRS
     reporting flag, inactive vendor flag
2.45
     (should not be able to disburse to
     inactive vendors)
     Ability to have different
     disbursement levels for various
     user groups based on security
     profile. Ability to set rules to limit
2.46 disbursements of refunds to
     borrower only. All disbursements
     (wires, accounts payable, etc.) to
     be reflected/accounted for within
     loan level record details.
     Support for lines of credit including
2.47
     daily simple interest billings.
     Ability to delete disbursement prior
     to printing by viewing the
2.48
     disbursements and asking for
     confirmation.
     Loan modifications for deferred
     payments without impacting loan
2.49
     amortization including changing
     payments and maturity.
     Payment processing for balance
2.50
     payment reversals.
     Loan paid off in full to include
2.51
     letters to cancel tax contracts,


                                              11
       insurance coverage, and
       notification to HUD if applicable.
       Once loan is paid off how long does
       history stay available.
       Any other

       General Criteria                      Vendor Response
3.00
       The candidate company should be
       financially solvent. This includes
3.01   size, revenue, number of
       customers, and any likelihood of
       acquisition.
       The candidate company should be
       dedicated to the product. This
3.02   includes being characterized by
       innovation and a clear and reliable
       future product roadmap.
       The candidate company should
       maintain on staff professional
3.03
       services that offer affordable and
       available expertise on the product.
       The candidate tool should support
       the CHFA requirements without
3.04
       software modification or via system
       extensibility.
       The candidate tool should provide a
       non-technical business user client
3.05   interface that enables the business
       the most control over its
       applications.
       The candidate tool should provide
       both technical and non-technical
3.06
       user documentation detailing
       system functionality and usability.
       The candidate company should
       have a standard implementation
3.07   plan for product installation
       including detailed client resource
       requirements.
       The candidate company should
       have a standard detailed release
3.08
       plan and installation instructions
       for product releases.

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3.09
3.10
3.11
3.12
       Other comments Vendor may deem
3.13
       relevant…



       Technology/Security
4.00                                        Vendor Response
       Requirements
       Software should be able to
       integrate or utilize an existing
4.01   Microsoft Active Directory
       infrastructure for user
       authentication.
       The product should have an API
4.02
       and SDK integration capability.
       Role/Function Based Security
4.03   including user, loan field, and user
       group.
       The software must be installable on
4.04   Windows Server OS, a minimum of
       2003 R2 and preferably 2008 R2.
       Software must be able to operate
       on a VMWare guest server (running
4.05
       Microsoft Windows Server OS) in a
       production environment.
       Multi-site and DR Redundancy
4.06
       Support
       Software must use Microsoft’s SQL
       server version 2005 or later, and
       preferably support 2008. Database
4.07
       must be able to be located on
       remote database server (not on
       local server).
       Centralized management for all
4.08
       software components
       No client side installations should
       be necessary. If client side
4.09
       installations are necessary,
       software should support distribution

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     software such as Microsoft SCCM.
     Other comments Vendor may deem
4.10
     relevant…


5.0 Licensing / Costs                        Vendor Response
5.1 License Model
5.2 License Cost
5.3 Maintenance & Support
5.4 Implementation Cost Model
5.5 Average License Deal
5.6 Average Implementation Cost
5.7 Average Implementation timeframe
    Training hourly rate (Technical/End
5.8
    User)

Additional Comments / Information
Please provide any additional comments or information that will assist in this
evaluation.




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