Attachment A - Statement of Work (SOW).pdf

ATTACHMENT A:

STATEMENT OF WORK

Commercially Available Off-the-Shelf (COTS) Rate Lock Database/Data Access

1.0 BACKGROUND:

The Federal Housing Finance Agency (FHFA) was created by the Housing and Economic Recovery

Act of 2008 (HERA) to regulate and supervise Fannie Mae, Freddie Mac, and the 11 Federal Home

Loan Banks (jointly, the “regulated entities”). HERA combined three organizations, the Office of

Federal Housing Enterprise Oversight, the Federal Housing Finance Board, and a group from the

Department of Housing and Urban Development, which collectively had previously regulated these regulated entities. These institutions play critical roles in supporting our nation’s housing finance system. Fannie Mae and Freddie Mac guarantee mortgage-backed securities (MBS) and hold mortgages and MBS’ for investment. The Federal Home Loan Banks lend money to banks and other financial institutions using mortgages as collateral and invest in mortgage-related assets. FHFA placed Fannie Mae and Freddie Mac in conservatorships in September 2008.

The primary mortgage market is a critical input to Fannie Mae, Freddie Mac, and Federal Home Loan

Banks. Towards monitoring the primary mortgage market, FHFA has a need to purchase commercially available off-the-shelf (COTS) borrower/loan application data that incorporates mortgage rate lock and additional mortgage application data elements.

2.0 SCOPE:

The data required must be at the borrower or loan application level and be recorded daily. In addition, the data must include specific borrowers, mortgage, collateral and lender attributes. A list of required and requested data elements is provided in Section 4.

3.0 OBJECTIVES:

The FHFA plans on utilizing the rate lock data to monitor primary mortgage market activities.

The rate lock data would support multiple internal and external reports and publication of ad hoc research studies.

4.0 TASKS AND REQUIREMENTS:

4.1 Rate Lock Data Elements and Variables – the FHFA requires several data elements on each rate lock observation. The data elements are summarized in the groups below.

a. Unique Transaction Identifiers – a unique record ID, date and time of the rate lock.

b. Borrower(s) information – data elements include numbers of borrowers, borrower credit scores, income, assets and loan documentation indicators. Underwriting ratios should also be reported if available, for example, front end and back end debt to income ratios.

c. Property (Collateral) information – geographic location of the home being financed

(e.g. zip code, but not the street address), appraisal, purchase amount, property type

(e.g. condo) and number of units (1, 2, 3, and 4).

d. Loan Origination data elements – select elements used in underwriting and marketing the loan, for example, LTV, loan purpose, loan amount, lien position, escrows, MI and loan pricing information.

e. Lender Information – type of lender or institution, information on the loan underwriting and other associated information as available.

f. Investor information – type of investor and transaction details, if available.

4.2 Data Coverage – FHFA primarily requires rate lock data on conventional conforming loans eligible for acquisition by the Enterprises; however, the FHFA also requires the rate lock data to include FHA, Jumbo and non-QM loan coverage in addition to conventional conforming loans.

4.3 Existing Data Product – the FHFA requires that the rate lock data exist as a current COTS product. The rate lock data must be an existing product provided in the commercial marketplace.

4.4 Additional Data Requirements

The Contractor’s data solution shall:

• Provide at least one (1) Secure File Transfer Protocol (SFTP) account to download the daily updates.

• Allow data to be used and accessible to an unlimited number of FHFA authorized users working concurrently from their office spaces or remotely.

• Update data daily. Multiple days of data should be downloadable in an easily exportable

CSV formatted file. The file should be posted to a server from which secure FTP is possible.

• Provide all available historical data back to at least 2014, or earlier if possible.

• Post clear instructions on data element revisions and data changes and improvements.

4.5 Ancillary Services and Information

The vendor’s data will be incorporated into the FHFA data warehouse; access to the product shall be controlled by FHFA data management staff. FHFA staff with authorized access to the

FHFA Data Warehouse shall have access to the vendor’s data during the contract period.

The Contractor’s data solution product, at a minimum, must include:

• Information technology (IT) help-desk support services, through email and/or telephone, at no additional cost beyond the cost of the product license. The support should be comparable to the support it provides to other customers. Help-desk support services include, but are not limited to, troubleshooting errors, login/access issues, questions related to the product (i.e., IT/technical issues), etc. Help-desk support must provide resolution within one (1) business day of receipt of either question or request. Support must be available 9AM to 5PM Eastern

Time Monday through Friday (except Federal Holidays and/or days the Contractor has determined as holidays for its employees).

• Subject matter expert/technical support services, through email and/or telephone, at no additional cost beyond the cost of the product license. The support should be comparable to the support it provides to other customers. Subject matter expert/technical support services include, but are not limited to, answering data-specific questions, data validation issues, data updates, etc. Support must provide resolution within one (1) business day of receipt of question or request. Support must be available 9AM to 5PM Eastern Time (ET) Monday through Friday (except Federal Holidays and/or days the Contractor has determined as holidays for its employees).

• Initial set-up and configuration of the data product, if any, on an enterprise-basis (i.e., any overall FHFA-specific account set up).

• Training on the data product for new users through, but not limited to, electronic user manuals and interactive training such as conference call, remote slideshow presentations, web-based interactive meeting/test environment webinars, etc. at no additional cost beyond the cost of the data product license. The training should be comparable to the support it provides to other customers.

5.0 DELIVERABLES:

The vendor shall:

1) Issue an FHFA staff member with a user name/password and detailed instructions to download current and historical rate lock data files.

2) Maintain an accurate data dictionary and provide the FHFA with advanced notice on any changes to the rate lock table.

3) Assist the FHFA in building the initial table in the FHFA environment. This assistance may include providing row counts and descriptive statistics to ensure that the load is accurate.

4) Update the rate lock data on a daily basis with the shortest time lag possible, for example, rate locks should be posted in the file no later than 24 hours after the time of the lock.

5) If possible, begin services within three (3) business days of the award date.

6.0 GOVERNMENT-FURNISHED PROPERTY

Unless otherwise agreed as part of an on-premise solution, FHFA will not furnish government property for the Contractor to fulfill the requirements of this purchase order. However, if the Contractor visits FHFA Headquarters (400 7th Street, SW, Washington, D.C. 20219) for training and related purposes, FHFA may furnish temporary access to desks, chairs, office space, internet access, and other common office furnishings.

7.0 SECURITY

Primarily, the Contractor will not work at FHFA Headquarters. Further, the Contractor may visit

FHFA Headquarters for training and related-sessions on a temporary basis. In these events, the

FHFA COR will coordinate visitor access and escorting duties.

8.0 LICENSE AGREEMENT MINIMUM REQUIREMENTS

The license agreement for the data product, at a minimum, must include and/or conform to the following requirements:

• At the termination or expiration of the license agreement, FHFA shall have the right to maintain and use indefinitely print or electronic copies of its reports, presentations, or other content created in accordance with the license agreement;

• Authorized end users may be from multiple divisions across FHFA, and may concurrently access and use the product from their official duty stations or via remote access when such end users are conducting business for the benefit of FHFA;

• FHFA does not permit compliance audits; however, the license agreement may require that

FHFA will provide written assurance of its compliance or other alternative agreed to in writing by the Contracting Officer;

• The license agreement shall not include an indemnification of the Contractor by the FHFA;

• The license agreement shall be governed by, and construed in accordance with, the federal laws of the United States of America;

• The Contractor shall represent and warrant that it makes commercially reasonable efforts to ensure that the software, data, or product as applicable is free of any viruses, worms, Trojan horses, malware, and/or other malicious code;

• The license agreement shall not include terms that authorize assignment of the task order except in accordance with Federal Acquisition Regulation Subpart 42.12;

• Contractor shall acknowledge and agree that if there is a conflict between the terms and conditions of the license agreement and those of the task order, the task order governs;

• The license agreement shall permit FHFA to use the data product for official Government purposes, including but not limited to reports, presentations, graphs, public releases, other publications, and examination of the regulated entities; and

• The license agreement may acknowledge that FHFA is a federal government agency and is exempt, by law, from the payment and collection of sales taxes.

• The license agreement shall be subject to the terms and conditions in the FHFA

Subscriber Addendum (Attachment D).

9.0 INFORMATION TECHNOLOGY ACCESSIBILITY (SECTION 508)

Section 508 of the Rehabilitation Act, as amended by the Workforce Investment Act of 1998

(P.L. 105-220) requires that when Federal agencies develop, procure, maintain, or use information and communication technology (ICT), it shall be accessible to people with disabilities. Federal employees and members of the public who have disabilities must have access to, and use of, information and data that is comparable to people without disabilities.

Products, platforms and services delivered as part of this work statement that are ICT, or contain ICT, must conform to the Revised 508 Standards, which are located at 36

C.F.R. § 1194.1 & Apps. A, C & D, and available at https://www.access-https://www.access-board.gov/guidelines-and-standards/communications-and-it/about-the-ict-refresh/final-rule/text-of-the-standards-and-guidelines board.gov/guidelines-and-standards/communications-and- it/about-the-ict-refresh/final-rule/text-of-the-standards-and-guidelines

E102 / 702.10 – Web Content Accessibility Guidelines (WCAG) success criteria level

A & AA are incorporated as a requirement. The referenced WCAG criteria is available at http://www.w3.org/TR/WCAG20/

Applicable Functional Performance Criteria

All functional performance criteria apply when using an alternative design or technology that achieves substantially equivalent or greater accessibility and usability by individuals with disabilities than would be provided by conformance to one or more of the requirements in

Chapters 4-6 of the Revised 508 Standards, or when Chapters 4-6 do not address one or more functions of ICT.

Applicable Requirements for Software and Web Products

Web deliverables/tools and access shall conform to the following standards:

E207 – WCAG Level A & AA Success Criteria

E302 – Functional Performance Criteria

E502 – Interoperability with Assistive Technology

E503 – Application

Electronic Documents and/or Support Services

All services and deliverables such as reports, training materials, support documentation and plans, shall conform to the following standards:

E205 – WCAG Level A & AA Success Criteria

E302 – Functional Performance Criteria

E602 – Support Documentation

E603 – Support Services

10.0 PERIOD OF PERFORMANCE

The period of performance will be for one (1) twelve-month base period and four (4) twelve-month option periods beginning from the effective date of the purchase order.

https://www.access-board.gov/guidelines-and-standards/communications-and-it/about-the-ict-refresh/final-rule/text-of-the-standards-and-guidelines https://www.access-board.gov/guidelines-and-standards/communications-and-it/about-the-ict-refresh/final-rule/text-of-the-standards-and-guidelines https://www.access-board.gov/guidelines-and-standards/communications-and-it/about-the-ict-refresh/final-rule/text-of-the-standards-and-guidelines http://www.w3.org/TR/WCAG20/