RFQ R-CHI-00152-Questions from Prospective Offerors.pdf

Request for Quotation R-CHI-00152

Online Database Subscription Service

Government Responses to Questions from Prospective Offerors

Here are questions asked by prospective offerors, and the government’s response to each question.

A. The Online Database Subscription Service calls for the contractor to provide subscription services including at least 35,000,000 first lien mortgages and, or 70% of the mortgage market.

Furthermore, the data fields to be included are: 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.

Q.1: Will HUD provide (a) this data, (b) a preferred vendor/distributor of this data, or (c) rely on the contractor to locate and procure?

A.1: HUD will not provide data. The contractor must have the data or be able to collect and provide monthly updates to HUD by 17th of the following month.

Q.2: Does HUD guarantee that the data fields requested are in fact available for 35M or 70% of the mortgage market?

A.2: The majority of fields are available: some may not be available for 35M or

70% of the market.

Q.3 (Section II Objective): Mortgage performance … will provide PD&R with real-time mortgage market metrics with which to inform policy decisions…” Please confirm that you are not looking for direct real time access to updates on the loan level detail (i.e.

mortgage market metrics), but rather timely access “to mortgage market metrics with which to inform policy decisions…”

A.3: HUD requires timely access (monthly updates)

Q.4: (Section III Deliverables): Section A(1)- Are you requesting data on 35,000,000 ACTIVE first lien mortgages or a combination of active and inactive mortgages? Are there any requirements around origination years for these loans?

A.4: HUD wants both active and inactive mortgages, including 35,000,000+ (or 70%+ of market) first lien mortgages. With respect to origination years, HUD wants mortgages representative of the market today and historical data representative of the market in the past.

Q.5: (Section III Deliverables (1-5): Please provide either examples of these reports or content requirements

A.5: Delinquency, CPR, Change vs. Last Month, Change vs. Year Ago, Wtd Avg Interest Rate, Avg Orig Loan Amt, Wtd Avg Credit Score for all product types (conventional, jumbo, fixed, ARM, government, IO) by state. Summary statistics for all variables: i.e. number missing and distribution of cases with valid entries.

Roll rate report. Delinquency report is format of MBA National Delinquency Survey.

Q.6: Is “credit score” required only at the time of origination, or is this request for updated credit scores and if so, how frequently?

A.6: Origination and current credit scores are requested. Monthly or quarterly updates are desirable.

Q.7: Will HUD Chicago be providing the loan level data needed to produce the reports?

Or will the contractor need to acquire the loan information individually?

A.7: The contractor must 1) Provide HUD with the loan data; and, 2) Aggregate the loan level data to produce the reports to be provided to HUD. The contractor must complete (1) and (2) monthly.

Reminder: The successful offeror must provide data products on Day 1 of the contract

(i.e., date of award). Do not expect to locate data once the government awards the contract..