THDA Issues RFP to Provide $25 Million Line of Credit
The Tennessee Housing Development Agency’s board of directors has approved a resolution authorizing THDA to use a line of credit or lines or credit to generate bond interest expense savings through the acceleration of bond redemptions. The board further authorized the Bond Finance Committee to select a provider or providers and enter into agreements as necessary.
THDA is seeking proposals from qualified entities to provide a $25 million line of credit to be used to purchase outstanding principal loan balances of FHA-insured foreclosed loans from our active bond resolutions. The line(s) of credit principal and interest will be repaid using FHA insurance proceeds, unsecured, and guaranteed by THDA.
THDA intends to use the results of this RFP process to select one or more providers for line(s) of credit on terms and conditions acceptable to THDA. THDA expects the effective date of the contract(s) to be on or around September 1, 2015.
The RFP can be found here.
THDA amended the RFP on June 12, 2015. The amendment can be found here.
THDA amended the RFP on June 19, 2015, to include responses to questions and comments. The amendment can be found here.