Intent to Sole Source for Average Prime Offer Rates (APOR) data
Closed Solicitation Posted
- Solicitation number
- 9531CB23R0002
- Responses due
- Set-aside
- No set-aside
Opportunity facts
- NAICS code
- Not on record
- PSC
- R702 Support- Management: Data Collection
Notice details come from SAM.gov. Updated .
About this opportunity
The Consumer Financial Protection Bureau seeks to acquire Average Prime Offer Rates mortgage pricing data on a weekly basis through a sole source contract with Intercontinental Exchange. The data must cover 30-year and 15-year fixed rate loans as well as adjustable rate mortgages, and be provided in standard formats via secure file transfer for a base period of February 1, 2023 through January 31, 2024 with up to four one-year option periods. The solicitation was issued to meet the Bureau's needs for determining qualified mortgage rates, higher-priced loan thresholds, and generating Home Mortgage Disclosure Act rate spread variables.
There is no set-aside designation. The NAICS code is 519130 and PSC code R699. The anticipated total contract value over the five year period is $615,000. The data will be used to replace the Primary Mortgage Market Survey and maintain an archive of acquired data. Interested vendors must be able to provide total discount points, origination fees, annual percentage rates, and acknowledge receipt of Amendment 0001 questions by November 17, 2022. The Bureau expects to make one award by the end of 2022.
Notice text
2 versions
Update #2 · Latest ·
AMENDMENT 0001 - amendment is published to answer questions received. the closing date and time remain the same.
- Is there an incumbent? If yes, why is the bureau seeking a second date source/service provider? No
- Will there be one award, multiple awards, or (potentially) no award from this RFP? One award
- Will this RFP be awarded in calendar year 2022? We expect to award by end of 2022.
- What is the most important criteria for the Bureau? What, if any, data/information gaps are needed? The most important criterion is obtaining data for all of the variables in the RFP every Thursday.
- Would a submission be considered if lender fees, origination fees or APR are not included? Total points/fees defined as discount points + origination points, as well as APR are required.
- Given the upcoming holiday would the Bureau consider a one week due date extension? An extension will not be provided at this time.
The Bureau is responsible for publishing weekly Average Prime Offer Rates
(APOR) values, a measure of what qualified borrowers would pay for a mortgage.
Three primary uses of APOR are (1) to determine if a mortgage is a Higher Priced
Mortgage Loan under Regulation Z, (2) to generate the rate spread variable in
Home Mortgage Disclosure Act (HMDA) data, and (3) to determine whether a
mortgage is a Qualified Mortgage (QM) under the Bureau’s Ability to Repay (ATR)
rules. The Research, Markets, and Regulations (RMR) Division seeks to acquire
APOR data, the right to use the mortgage pricing data to replace the PMMS for a
period to include the base period and up to four additional government option
periods, and the right to use and maintain an archive of data acquired by the
Bureau during all base and executed option periods (if exercised) to generate and
publish the weekly APORs.
There was a previous notice under RFP 9531CB22R0014 that was canceled. The requirement has an increased data need as included in the attached RFP.
CFPB Market Research has only identified one vendor that packages and sells the data. Please see attached Justificaiton.
Update #1 ·
The Bureau is responsible for publishing weekly Average Prime Offer Rates
(APOR) values, a measure of what qualified borrowers would pay for a mortgage.
Three primary uses of APOR are (1) to determine if a mortgage is a Higher Priced
Mortgage Loan under Regulation Z, (2) to generate the rate spread variable in
Home Mortgage Disclosure Act (HMDA) data, and (3) to determine whether a
mortgage is a Qualified Mortgage (QM) under the Bureau’s Ability to Repay (ATR)
rules. The Research, Markets, and Regulations (RMR) Division seeks to acquire
APOR data, the right to use the mortgage pricing data to replace the PMMS for a
period to include the base period and up to four additional government option
periods, and the right to use and maintain an archive of data acquired by the
Bureau during all base and executed option periods (if exercised) to generate and
publish the weekly APORs.
There was a previous notice under RFP 9531CB22R0014 that was canceled. The requirement has an increased data need as included in the attached RFP.
CFPB Market Research has only identified one vendor that packages and sells the data. Please see attached Jsutificaiton.
Attachments
| File | Type | Posted |
|---|---|---|
| Amendment00001-RFP-9531CB23R0002.pdf | ||
| RFP-9531CB23R0002.pdf | ||
| 9531CB23R0002-Justification.pdf |
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