8.1. HRSR 12-03-2018 - Laserfiche WebLink

Home Browse Search

• No scope of work prepared or bid solicitation. It is the borrowers responsibility to get the bids and we will verify they are properly licensed. Most of our programs have moved to only requiring 1 bid • Not based on lowest bid • We typically allow 120 days to get work done, but can make that 90 and work with borrowers if extensions are needed • See guidelines, but no payment schedule established. We would disburse upon completion of work and verification it's been inspected. • For accounting, we would invoice monthly for loans closed and escrow for disbursement after projects are complete. If a project is completed prior to monthly invoicing CEE fronts the funding to get the contractor paid. • Borrowers monthly payments start one month from loan closing, even if all projects are not complete Please let me know if you have any questions. It looks like we would have quite a few changes to the loan process, but we have found that these programs have been very customer friendly. We can get loans processed and closed in a very timely manner. It was great to talk to you and to get you this information to start discussions. I definitely understand if some of our processes don't fit with what the HRA has done or wants to do, but iPs always good to look at options. Thanks again and let me know what questions you may have. I've also enclosed our new Loan Servicing Contract as well and ce'd our Contract Manager. Jim Jim HasnikI enci^q.enter Director of Lending Services : 612-3355885 Center for Energy and Environment 212 Third Avenue North, Suite 560 1 Minneapolis, MN 55401 ItSal n7'_ -335-i38? www.mnlrndinacenmr ore On Fri, Nov 30, 2018 at 3:23 PM Othoudt, Amanda <AOthoudt(a)elkrivermngov> wrote: Jim Thank you so much for your time today. Please find the attached documents for the Housing Rehab Loan Program that CMHP currently administers. Have a great weekend)