Online Database Subscription SOO R-2011-R-00152.pdf

STATEMENT OF OBJECTIVES

Online Database Subscription Service

I. Background

The Office of Policy Development and Research and its Office of Economic Affairs, in particular, have an ongoing need for reliable mortgage origination, performance, and delinquency/foreclosure data in order to evaluate changes in housing and mortgage markets and to gauge the effectiveness of HUD’s responses to changes in those markets.

HUD Economists and Policy Analysts are routinely asked to monitor, assess, or characterize the performance of population of outstanding mortgages at the national, state, or local levels. Thus, access to reliable mortgage performance data at the national, state, or local levels is necessary for responding to these requests to provide understanding of the state of the nation’s housing and furthering HUD's mission to increase homeownership, support community development and increase access to affordable housing free from discrimination.

II. Objective

The contract objective is to provide the Department of Housing and Urban Development with access to mortgage performance data and analytic products to be used in analysis and research to inform public policy and provide information on trends and loan performance in U.S. mortgage markets. Mortgage performance data with coverage of

70+% of outstanding U.S. mortgages, will provide PD&R with real-time mortgage market metrics with which to inform policy decisions, provide timely responses to

Congressional and Administration mortgage market data and performance requests, to monitor mortgage originations, modifications, delinquencies, and foreclosures, and provide data for geo-spatial mortgage analysis and other mortgage market research projects.

III. Deliverables

Contractor must provide HUD with subscription services that include:

A. Mortgage data including, but not limited to the following:

1. At least 35,000,000 first lien mortgages and, or 70% of the mortgage market

2.Data fields: credit score; delinquency status; interest rate; loan balance;

original loan amount; loan-to-value ratio (LTV); loan age; ARM indicator; negative amortization indicator; loan purpose; property type;

geography – state, county, MSA, zip-code; payment history; origination date; mortgage type; product type; investor; documentation status;

occupancy; pre-payment penalty status; payment – principal, interest, taxes, & insurance; foreclosure status; mortgage insurance provider; AUS;

charge off amount; loss mitigation status - mod type, workout type, duration of mod, interest rate before/after mod, remaining term before/after mod, P&I before/after mod and other similar fields

3.Continuous time series mortgage performance data (delinquencies, foreclosures, and REO) for prime and subprime mortgages that allows

HUD to track individual loans or loan cohorts from 2004 to present.

B. Online access to mortgage data, with monthly data updates, and User IDs for ten

HUD staff/contractors

C. Monthly Download of Loan Level Data File

D. Monthly Data Summary Reports:

1.Warehouse Distribution Report;

2. Market Summary Trends;

3. Delinquency and Migration Analysis Report;

4. Monthly Overview-Traditional Products;

5. Monthly Overview-Exotic Products.

E. User Support-Contractor will provide point of contact with 24-hour response time to assist data users with respect to data results, the online interface, downloadable data files, or other questions.

F. Training with respect to 1) Online mortgage analytic tool and 2) Loan level data download

G. Monthly conference calls summarizing/analyzing new data releases