Description
The County of Lake is seeking a consultant to provide general management for their HOME Investment Partnerships Program (HOME) and Community Development Block Grant (CDBG) loan portfolio. The current loan portfolio contains 54 loans, with 46 HOME loans and 7 CDBG loans. The consultant will be responsible for providing loan portfolio management services, including coordinating and conducting loan committee processes for approvals as required. The consultant will also be responsible for providing loan servicing policy and delinquency procedures.
• The loan portfolio consists of single-family loans, with some loans being deferred or forgiven.
• The loans have varying interest rates, with some having deferred payments and balloon payments.
• The consultant will need to have experience in loan portfolio management and be familiar with the HOME and CDBG programs.
• The consultant will be expected to provide a comprehensive scope of work, including loan servicing policy and delinquency procedures.
• The County is not currently actively loaning any new funds, but retains the right to do so in the future.