RFI-Mortgage Data Revised
Closed Pre-Solicitation Posted
- Solicitation number
- CFP-25-RFI-00002
- Responses due
- Set-aside
- No set-aside
Opportunity facts
- NAICS code
- Not on record
- PSC
- Not on record
- Place of performance
- Washington, District of Columbia, United States
- Points of contact
Notice details come from SAM.gov. Updated .
About this opportunity
The Consumer Financial Protection Bureau (CFPB) is seeking data and service providers to support its Mortgage Interest Rate Explorer tool, which helps consumers understand potential mortgage interest rates based on personal characteristics. This Request for Information (RFI) aims to conduct market research for identifying vendors who can provide comprehensive mortgage rate data with specific requirements. Vendors must demonstrate the ability to cover at least 75% of the mortgage market, including data from a minimum of 25 major institutions across all 50 states. The evaluation will focus on data requirements, coverage, quality, and technical delivery capabilities. Interested vendors must submit their responses by 12pm ET on December 12, 2024, to Contracting Officer Vanessa del Toro, with submissions limited to 10 pages and including company details, federal contract vehicles, relevant experience, and responses to specific RFI questions.
The RFI does not indicate a specific set-aside designation for this procurement, and no incumbent contractors are mentioned in the documents. While no precise award value is specified, the procurement is seeking comprehensive mortgage rate data with specific technical requirements, including twice-weekly updates via .csv files or API endpoints. The data must encompass detailed mortgage information such as interest rates, discount points, loan terms (15/30 year), property types, loan purposes, and multiple other parameters outlined in Exhibit A of the solicitation. Vendors will need to provide sample data, confirm data field coverage, specify market coverage details, and include a cost breakdown for both offered and locked interest rates. The CFPB's ultimate goal is to develop a tool that helps consumers make more informed decisions about mortgage loans by providing transparent, up-to-date market information.
Notice text
2 versions
Update #2 · Latest ·
Request for Information (RFI) - RElated to prior RFI: CFP-25-RFI-00001 - Revised items/questions/ requests in red font in the attached PDF.
NOTE: any vendors that responded prior, please respond to PDF items in red font only. thank you.
NOTE: Due date reviesed to December 12, 2024 at 12:00 PM ET.
Background:
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Pub. L. 111-203)
established the Consumer Financial Protection Bureau (CFPB) to regulate the offering and
provision of consumer products or services under federal consumer financial laws. Consistent
with the purposes of the Dodd-Frank Act, CFPB’s mission is to establish and enforce clear,
consistent rules for the financial marketplace, protect American families from unfair financial
practices, and develop and implement a strategy to improve the financial literacy of consumers.
The CFPB is charged with “developing and implementing initiatives intended to educate and
empower consumers to make better informed decisions” (12 U.S.C. § 5493(d)). As part of its
work to fulfill this educational mandate, the CFPB has developed a set of tools and resources to
help consumers navigate the uncertain financial terrain between themselves and their goals.
One of such tools is called Mortgage Interest Rate Explorer (Explorer), which helps consumers
(homebuyers or homeowners) understand what interest rates they can expect to receive on their
mortgage loan, based on their personal characteristics, including credit score, physical location,
and loan amount. The tool helps consumers be better prepared to shop for a loan
by giving them a greater understanding of the current market. It also helps them evaluate their
loan offers to see if they have gotten a good deal relative to what would be expected in the
market for someone with their personal characteristics.
Purpose of RFI:
The objective of this RFI is to conduct market research to find potential data and service
providers to power the Explorer tool from a cost-efficiency perspective.
The CFPB wants to identify vendors who can provide the scope of the data and service that falls
into the following categories: data requirements, data coverage, data quality and technical
delivery.
Update #1 ·
Request for Information (RFI) - RElated to prior RFI: CFP-25-RFI-00001 - Revised items/questions/ requests in red font in the attached PDF.
NOTE: any vendors that responded prior, please respond to PDF items in red font only. thank you.
Background:
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Pub. L. 111-203)
established the Consumer Financial Protection Bureau (CFPB) to regulate the offering and
provision of consumer products or services under federal consumer financial laws. Consistent
with the purposes of the Dodd-Frank Act, CFPB’s mission is to establish and enforce clear,
consistent rules for the financial marketplace, protect American families from unfair financial
practices, and develop and implement a strategy to improve the financial literacy of consumers.
The CFPB is charged with “developing and implementing initiatives intended to educate and
empower consumers to make better informed decisions” (12 U.S.C. § 5493(d)). As part of its
work to fulfill this educational mandate, the CFPB has developed a set of tools and resources to
help consumers navigate the uncertain financial terrain between themselves and their goals.
One of such tools is called Mortgage Interest Rate Explorer (Explorer), which helps consumers
(homebuyers or homeowners) understand what interest rates they can expect to receive on their
mortgage loan, based on their personal characteristics, including credit score, physical location,
and loan amount. The tool helps consumers be better prepared to shop for a loan
by giving them a greater understanding of the current market. It also helps them evaluate their
loan offers to see if they have gotten a good deal relative to what would be expected in the
market for someone with their personal characteristics.
Purpose of RFI:
The objective of this RFI is to conduct market research to find potential data and service
providers to power the Explorer tool from a cost-efficiency perspective.
The CFPB wants to identify vendors who can provide the scope of the data and service that falls
into the following categories: data requirements, data coverage, data quality and technical
delivery.
Files
| File | Type | Posted |
|---|---|---|
| CFPB-RFI-25-RFI-0002-MortgageDataRevised.pdf | ||
| Mortgage Data RFI V2 11.26.24.pdf |
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