Home Equity Conversion Mortgage (HECM) insurance program
Closed Pre-Solicitation Posted
- Solicitation number
- NOF-FY25-01
- Responses due
- Set-aside
- No set-aside
Opportunity facts
- NAICS code
- 518210 Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services
- Place of performance
- Washington, District of Columbia 20410, United States
- Points of contact
Notice details come from SAM.gov. Updated .
About this opportunity
The Department of Housing and Urban Development (HUD) is seeking a contractor to provide comprehensive business services for the Home Equity Conversion Mortgage (HECM) insurance program, with a focus on data processing, hosting, and related services. The procurement will involve a Software as a Service (SaaS) solution that encompasses loan origination, setup, servicing, and management of HECM-related activities. Interested parties must submit a capability statement and respond to a detailed questionnaire by November 29, 2024, with questions about the opportunity due by November 12, 2024. The market research will help HUD determine the most appropriate procurement method, which could include full and open competition or a potential small business set-aside. Evaluation criteria will likely focus on vendor experience with similar mortgage insurance technology platforms, technical capabilities, and ability to meet the comprehensive service requirements outlined in the Performance Work Statement.
The contract is anticipated to have a base year with four 12-month option periods, with an estimated total value between $30-$45 million. Performance will be conducted at the contractor's facility, with a required 24/7 availability and a 180-day transition period. The procurement is classified under NAICS code 518210 for Data Processing, Hosting, and Related Services, suggesting a strong emphasis on technological infrastructure and service delivery. The contract will require the selected vendor to manage complex processes including loan origination, setup, servicing, borrower portal management, reporting, and system interfaces. Key deliverables will include maintaining a HECM insurance services module, providing help desk support, and training HUD personnel on the new system and processes.
Notice text
2 versions
Update #2 · Latest ·
FHA’s current Home Equity Conversion Mortgage (HECM) insurance program utilizes the Home Equity Reverse Mortgage Information Technology (HERMIT) system, provided by Reverse Market Insight, Inc. FHA is considering dividing this large contract into two separate contracts.
Single Family HECM Services (NOF-25-01): FHA Single Family requires Software as a Service (SaaS) for management of its HECM endorsed and assigned portfolio servicing activities, along with the functions for loan setup and assignment claim (claim type 22) processing. These services will include enhanced features for lenders and HUD staff, including a borrower portal and self-service reports.
Accounting Services (NOF-25-002): FHA requires Software as a Service (SaaS) for its traditional HECM accounting activities, including MIP calculation and collection, notes disbursement, plus the processing of claim types 21, 23, and 24, and claims calculation and disbursement functions.
FHA is looking for technical application services that meet Federal Risk and Authorization Management Program (FedRAMP) requirements at the Moderate impact level and other Federal Government cybersecurity and privacy requirements.
HUD received an unanticipated number of questions in response to its sources sought notice and finds it inappropriate to respond at this time. As market research progresses, HUD expects to provide additional information. Respondents are invited to submit capability statements and responses to HUD’s questionnaire via email to david.y.kim@hud.gov, with a cc to dwayne.e.gist@hud.gov, no later than Friday, December 6, 2024, 2:00 PM Eastern Standard Time for consideration.
Update #1 ·
The Department of Housing and Urban Development (HUD) is issuing this Sources Sought Notice (SSN) as a means of conducting market research to identify parties having an interest in and the resources to support this requirement for a Contractor’s solution to provide business services for the Home Equity Conversion Mortgage (HECM) insurance program. The result of this market research will contribute to determining the method of procurement. The applicable North American Industry Classification System (NAICS) code assigned to this procurement is 518210 – Data Processing, Hosting, and Related Services.
Questions for this announcement can be submitted no later than Tuesday, November 12, 2024, 2:00 PM Eastern Standard Time for consideration.
Capability Statement and response to questionnaire must be submitted, no later than Friday, November 29, 2024, 2:00 PM Eastern Standard Time for consideration.
Files
| File | Type | Posted |
|---|---|---|
| Sources Sought Notice - HECM.pdf | ||
| Attachment B - HECM Questionnaire.docx | DOCX document | |
| Attachment C - HECM Proposed CLIN Structure.xlsx | XLSX spreadsheet | |
| Attachment A HECM PWS.pdf |
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