Mortgage Loan Services

Description

The County of Volusia Community Assistance Division administers federal and state grant allocations for affordable housing programs.  These funding allocations are used to administer programs that provide loans to low and moderate-income households for the housing rehabilitation or demolition and reconstruction of their primary residence. The County has an existing portfolio of approximately 58 loans that are currently being serviced by an outside contractor.   The County anticipates that the portfolio of active amortized loans will continue to expand based on affordable housing funding allocations and needs. The Community Assistance Division is soliciting proposals for mortgage loan servicing for the program.  The goal of the servicing is to encourage and assist low and moderate income borrowers to keep their loans current, assist those borrowers who have fallen behind due to hardship or other reasons, to maintain effective management of the loan portfolio, to ensure that the borrowers are maintaining the requirement of the program to reside in the home as their primary residence, and ultimately, to reduce portfolio delinquency rates.