Digital Collateral Policy Support

The Department of Housing and Urban Development (HUD) is issuing this sources sought synopsis as a means of conducting market research to identify parties having an interest in and the resources to support this requirement for Policy Support of the Ginnie Mae Digital Collateral Program, specifically in the area of eNotes, eMortgages, and eVault operations. 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 541611, Administrative Management and General Management Consulting Services. There is no solicitation at this time. This request for capability information does not constitute a request for proposals; submission of any information in response to this market survey is purely voluntary; the government assumes no financial responsibility for any costs incurred. This is not an evaluation of proposals but an assessment of vendors capabilities. Therefore, a detailed assessment of the capability statements will be performed. Generic brochures are not being requested. Vendors should provide information to stress their competencies, differentiators, and past performance showing or demonstrating: Core Competencies to demonstrate expertise. Differentiator's listing/discussing unique factors and benefits of the services that set them apart from others. Past Performance listing/discussing previous similar work showing benefits and how the past projects relate to Agency's needs. If your organization has the potential capacity to perform these contract services, please provide the following information: 1) organization name, address, email address, website address, telephone number, and size and type of ownership for the organization; and 2) tailored capability statements addressing the particulars of this effort, with appropriate documentation supporting claims of organizational and staff capability. If significant subcontracting or teaming is anticipated in order to deliver technical capability, organizations should address the administrative and management structure of such arrangements. The government will evaluate market information to ascertain potential market capacity to 1) provide services consistent in scope and scale with those described in this notice and otherwise anticipated; 2) secure and apply the full range of corporate financial, human capital, and technical resources required to successfully perform similar requirements; 3) implement a successful project management plan that includes: compliance with program schedules; cost containment; meeting and tracking performance; hiring and retention of personnel and risk mitigation; and 4) provide services under a performance based service acquisition contract. Based on the responses to this sources sought notice/market research, this requirement may be set-aside for small businesses or procured through full and open competition, and multiple awards may be made. Telephone inquiries will not be accepted or acknowledged, and no feedback or evaluations will be provided to companies regarding their submissions. Submission Instructions: Interested parties who consider themselves qualified to perform the above-listed services are invited to submit a response to this Sources Sought Notice by Friday, August 30, 2024. All responses under this Sources Sought Notice must be emailed to Tarita Leftwich at tarita.l.leftwich@hud.gov. Additional information on the required services is listed below. If you have any questions concerning this opportunity, please contact: Tarita Leftwich at tarita.l.leftwich@hud.gov. Background: The Government National Mortgage Association (Ginnie Mae) launched the Digital Collateral Program in 2020 and began to accept electronic promissory notes (eNotes) as collateral from Mortgage- Backed Securities (MBS) Program Participants. As part of this effort, Ginnie Mae developed requirements to securitize Digital Pools and Loan Packages using Ginnie Mae's MBS Securitization Platform. Program participants are able to apply for entry into the Digital Collateral program. The program's requirements are specified in the Ginnie Mae Digital Collateral Program Guide (eGuide) which is a supplement to the Ginnie Mae Mortgage-Backed Securities Guide (MBS Guide). Ginnie Mae began approving participants that met the eGuide requirements for its pilot program in October of 2020. After a successful pilot program with a limited number of participants, Ginnie Mae opened up the program to new applicants in 2022. Since that time, Ginnie Mae has nearly tripled the size of the program and securitized over $38 Billion in mortgages backed by eNotes (eMortgages). As the program grows, demand on all aspects of the program have increased, from application review, transaction testing, to monthly reconciliations and enforcement actions. New functionality has been developed that requires advanced administration and support. In May 2024, the Acting Secretary of HUD announced a new development in the Digital Collateral Program - commingling. Commingling permits the securitization of eMortgages in the same pools alongside of traditional paper mortgages and greatly increases the scope of the program. This move will open new market channels and create an even larger demand for applications and other Digital Collateral Program services. The purpose of this procurement is to provide the Digital Collateral team with specialized support that can offer (1) experience accessing, testing, and trouble shooting in an eVault and the MERS eRegistry (2) application review support and recommendations (3) partnership with eVault provider to develop new automations that will allow for program growth (4) monitor developments in both the policy/legislative area and technological advancements affecting eNote securitization and transfers (4) support current training modules and develop new modules in accordance with functionality expansion and training delivery to user base. General Description of Work: Technical eVault and eRegistry Support and Assessments Portfolio Transfer Facilitation & Assistance within eVaults Program Application Analysis and Review for technical sufficiency Development of Training Modules, Internal and External Monitoring Developments in Tech and Recommendations for Implementation Development of Automation Processes in Ginnie Mae data systems and with external systems to Support Increase Program Growth Below are the characteristics of the Ginnie Mae Digital Collateral requirement: Must demonstrate: - Demonstrable knowledge in the areas of use of eVault and eRegistry technology - Previous experience in management of eNotes within an eVault - Working knowledge of eRegistry rightsholder positions and how to enact transfers of those positions - Skills in oral and written communication - Organized and deadline driven The tasks require a set of skill categories based on the following approximate breakdown: Administrative Staff Program Manager, Quality Control Subject Matter Expert, eVault Operations Subject Matter Expert, eRegistry Transfers and Performance Subject Matter Expert, eMortgage Law and Policy Training Facilitator Senior Technical Writer Business Analyst/Project Management Contemplated performance metrics: See Draft Performance Works Statement (PWS), Performance Requirements Summary Contemplated report requirements: See draft PWS Contemplated dollar value of the project: TBD but estimated $10M + Contemplated place of performance: Contractor's facility