C-101798: RFP 33-24 Loan Servicing Software

The City of Vancouver has awarded a contract to Willow Servicing for loan servicing software. The contract has a term of 5 years, with the option to renew. The software will be used to service loans, and the vendor will provide implementation, training, and ongoing support. The contract includes fees for loan administration, IRS tax filing, print and mail services, and ACH payment processing. The City of Vancouver has the option to terminate the contract if the vendor fails to meet certain performance standards or if there is a security breach. The contract also includes provisions for data security, confidentiality, and compliance with applicable laws. Key aspects of the contract include: * Loan servicing software implementation and training * Ongoing support and maintenance * Fees for loan administration, IRS tax filing, print and mail services, and ACH payment processing * Performance standards and termination provisions * Data security and confidentiality provisions * Compliance with applicable laws and regulations