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RFP News | Single-Family Mortgage Revenue Bonds

January 05, 2024

The Alabama Housing Finance Authority posted notice on January 5, 2024, that it is accepting proposals from qualified investment banking firms to serve as senior underwriter for the collateralized Single-Family Mortgage Revenue Bond Program. The RFP Notice, which includes all requirements and conditions, is posted on the AHFA website under Legal and Public Notices and is also available here.

AHFA Replies to Questions Regarding RFP

  • Question: Section III of your RFP states that an “updated statement of qualifications should be maintained on file at AHFA for all firms submitting proposals in response to this RFP.”  Can you tell us the process and information needed to provide a Statement of Qualifications to AHFA?
    • Response: The question is intended to ensure that the underwriter’s submitted qualifications are up to date. To clarify, the underwriter’s submitted proposal will serve as its statement of qualifications on file at AHFA. In regard to qualifications, no further update for purposes of the RFP is required.
  • Question: Does the 25-page limit on our response include the cover letter, Table of Contents and our firm’s Disclaimer?
    • Response: Yes. The page limit applies to the entire submitted response.
  • Question: As we look through the RFP, we are thinking ahead to providing costs of issuance. Has there been any thought as to the approximate size of the bond issue?  
    • Response: Regarding the size of the bond issue, it is our intent to roll out the issues incrementally to meet demand as part of an ongoing program. Our 2024 Volume Cap allocation is $159 million, which is also available for the multifamily program, but demand is uncertain at this point. Also, we have requested an allocation of the carryforward bond cap from 2023, but the state will not decide until as late as early February. For the first issue, we anticipate it may be between $25 to 35 million and would continue in subsequent issues to meet market demand.