Subscription and Database Access for Loan Limit Data by County

SOURCES SOUGHT NOTICE THIS IS A SOURCES SOUGHT NOTICE ONLY. This is not a request for offers, quotes or proposals. This notice does not represent a commitment by the Government to issue a solicitation or award a contract. This is a market research tool only to determine the capability of potential sources. The Department of Housing and Urban Development (HUD) is contemplating establishing a contract under NAICS Code(s) 519130--Internet Publishing and Broadcasting and Web Search Portals , and the Small Business Standard is 1000 employees, PSC Code D317--IT and Telecom Web-Based Subscription, for Subscription and Data Access for Loan Limit Data by County (Median Home Price Data Based on Recorder Data required for Federal Housing Administration Loan Limits), Loan Performance Servicing Data, and Mortgage Securities Data. Providing the coverage, depth, scope, accuracy and format in a single source subscription and is issuing this Request for Information (RFI) to solicit responses from capable sources and capability statements to ensure sufficient competition exists to meet the Government's requirements. Teaming arrangements and joint ventures will be considered for any subsequent procurement based on the Government's market research. Please review the statement of work (SOW) and provide your feedback to Mrs. Rachel Wilson at Rachel.n.wilson@hud.gov. BACKGROUND The U.S. Department of Housing and Urban Development (HUD) / Office of Housing and the Office of Evaluation (OE) is seeking contractor support to provide an annual subscription of commercially available database access to: 1) Loan limit data by county - median home price data based on County Recorder data; 2) Loan performance servicing data and mortgage loan on-line information/newsletter which includes Residential Loan Level Database both Prime and Subprime, Residential Loan Level Origination Database borrower and mortgage characteristics, Mortgage Delinquency Database both Prime and Subprime, 5 years of market history and access software, 24/7 Web Access to HUD Users with passwords; and 3) Loan securities data accessible in the non-agency Mortgage Backed Securities (MBS) Prime Database with a minimum 15-year perspective on the non-Agency securities market to enable long-term projections and includes 98+ percent of outstanding non-agency prime mortgage pools. Beginning with the Option Period 1 ABS (Asset Backed Securities) data that are currently accessible in the ABS (Alt-A & Nonprime) Database with a minimum 15-year perspective on the non-Agency securities market will also be covered. The Office of Evaluation (OE), located in the Office of Risk Management and Regulatory Affairs in the Office of Housing, is responsible for monitoring the performance of FHAs single family and multifamily programs. It prepares periodic reports to the FHA Commissioner on FHA business activities and oversees the statutorily mandated annual actuarial review of FHAs largest insurance fund. OE is also responsible for assessing the financial impact on FHAs insurance funds of new or existing policies and programs and evaluating relationships between current economic and market conditions and FHA program goals and objectives. With the advent of credit reform, The Office of Evaluation has become responsible for developing, maintaining, and updating cash flow models used to estimate credit subsidy rates for FHAs budget and liability for loan guarantee for FHAs annual financial statement. These cash flow models use historical data for loans grouped into risk categories to calculate the net present value of cash flows over the life of a book of business. Cash flows are estimated for premiums, claims, and recoveries. A credit subsidy rate for each risk category is calculated by dividing the net present value of cash flows by projected endorsements. If the credit subsidy rate is positive, FHA needs appropriations of credit subsidy (as well as commitment authority) before it can endorse new loans. 1. To support the mission above Housing FHA is statutorily required to provide: 1) an Independent Actual Review of the Mutual Mortgage Insurance (MMI) Fund; 2. Annual Report to Congress, and 3. Published Loan Limit data by MSA. All three of these statutory mandates require comprehensive loan performance data for loan limits, loan servicing performance and loan securities data. Loan Limit Data: In order to continue using the methodology developed for FHA loan-limit determination under the Economic Stimulus Act of 2008 (ESA), HUD requires that it have a regular and reliable source of county-level median price data. Specifically, HUD would like to base loan limits on median prices that reflect comprehensive property purchase data available through county deed recordation records, where that data is available, and throughout the country. By law, HUD must set FHA single-family loan limits at the county level, or at the Metropolitan Statistical Area (MSA) level when multiple counties are defined by the Office of Management and Budget as such an Area. In setting loan limits under the ESA, HUD relied upon multiple sources of information: county property-deed records, National Association of Realtor MSA-level median prices, data gathered from local realtor boards and multiple listing services, and American Community Survey (ACS) and decennial Census data on median house values. HUD also used a new house price index created by the Federal Housing Finance Agency (FHFA, formerly, OFHEO) for non-metropolitan areas in each state. That index was used to update median values from the ACS and decennial Census so that they were representative of the look-back period used for more contemporaneous data sources. Under the Homeownership and Economic Recovery Act of 2008 (HERA), FHA loan limit determination will continue to require the same procedures as have been used in the past. Loan limit determination for Fannie Mae and Freddie Mac are now, under HERA permanently, determined on the county-by-county basis required for 2008 under the ESA. HUD and the FHFA desire to calculate loan limits from a uniform set of underlying median price data. County recorder data is available for all states. However, non-disclosure states are those states where the value or sales price of a real estate transaction is not disclosed on transfer documents filed for public record. Median sales price data must include non-disclosure states. The following states are non-disclosure states: Alaska, Louisiana, New Mexico, Utah, Idaho, Mississippi, North Dakota, Wyoming, Indiana, Missouri (select counties), South Dakota, Kansas, Montana, and Texas. Price indices for states where the value or sales price of the property in question is not publicly disclosed should be provided using unique, proprietary data gathering and handling methods. Loan Servicing and Performance Data: Under this procurement, HUD is seeking comprehensive data on conventional home loans. This database assistance will allow 1) superior single-family risk assessments and 2) more program-related data to program managers to help improve program performance, hold down costs, and increase the effectiveness with which HUD can maintain and increase the supply of affordable housing. HUD has had subscriptions for Loan servicing and performance data since 2005. Loan Securities Data: The data procured through this request will allow 1) superior single-family risk assessments and 2) more program and related data available to program managers to help improve program performance, hold down costs, and increase the effectiveness with which HUD can maintain and increase the supply of affordable housing. GENERAL DESCRIPTION OF WORK The vendor shall furnish the following services: Loan Limit Data: The specific data elements required under this contract are: 1. State Identifier (FIPS code) 2. County Identifier (FIPS code) 3. County name 4. CBSA code (5-digit OMB-determined code) 5. MSA/MSD code (5-digit OMB-determined code for Metropolitan Statistical Division, where available) 6. Median sale price for all transactions in the look-back period 7. Median Sale price for single-family (non-condo) units, in the look-back period 8. Median Sale price for condos in the look-back period 9. Number of sale transactions 10. Number of single-family (non-condo) transactions 11. Number of condo transactions 12. Median Sale price for distress sales (sheriff sales and other foreclosure and REO sales) 13. Number of distress sales 14. Date of last available transaction used in determining median prices for this county in the look-back period HUD also requires that sale transactions used to compute county-level medians exclude all deed types or other indicators that would suggest the sale is less-than arms-length. Also excluded should be any commercial transactions. Distress sales (Sheriff, foreclosure, or REO sale) should only be included in the separate median price for those transactions. Transfer of property via foreclosure without a sale to a third party should be excluded from all median price computations. That would include properties transferred to the lender or a mortgage insurer or guarantor as a direct result of the foreclosure auction. Such properties should only be included in distress sale median prices when they are sold out of REO. HUD will determine the look-back period based on lags required to assimilate data from all, or nearly all counties that make such data available, and from its requirements for publishing loan limits each year. In principal, HUD would like three data downloads per year. The first download would be in the first quarter of the year and would be for transactions in the previous calendar year (January December). The second download would occur in June and would be for transactions starting in January of that year and ending with the most recent month for which comprehensive data is available at the time of data download. The third download would be in the last quarter of the year and would be for transactions starting in January of that year and ending with the most recent month for which comprehensive data is available at the time of data download. The exact date for the third download will be established based on the lead time required for publishing loan limits in advance of their effective date. It will most likely be in October or November. HPI - Geographical Coverage: National Index, All 50 States, Over 950 CBSAs, Over 1,200 Counties, Over 6,800 Zip Codes. - Index built upon actual repeat sales transactions (70+M), not merely interpolations from higher geographies - Includes non-disclosure states and counties through securities and servicing data - Covers 70% of population by Zip Code. 80% by County - Over 35 years of monthly history - Updates provided on a 4-week lag - Index broken down into multiple tiers involving Property Type (Excluding distressed sales), Price, Conforming/Non-Conforming, Time Between Sales Market Trends - Geographical Coverage: National, All 50 States, Over 950 CBSAs, Over 3,000 Counties, Over 38,000 Zip Codes. - Data set that provides mortgage performance, valuation and sales information by different levels of geography - Includes non-disclosure states and counties - Over 12 years of monthly history - Updates provided on a 7-week lag Loan Servicing and Performance Data: Prime and Subprime Servicing - Monthly performance data going back to 1996 - 85% coverage of all Prime 1st lien mortgages - 100% GSE inclusion for optimum benchmarking - 9 of the top 10 servicers and most of the 11 to top 30 servicers - Seriously delinquent measures like Foreclosure and REO - Extensive Source and inferred loan modification data - Integration of other licensed data sets (above) into web-based application Loan Securities Data (MBS & ABS): Historical origination and performance data going back to 1992 - Coverage of 98% of non-agency market, publicly-placed mortgage backed securities - Over 98% of monthly update data provided within 3 days working days from payment to bondholders. - Source and inferred loan modification data covering over 90% of RMBS non-agency market - Supplemental data, which provides the ability to tie other liens to the Securitized loan. Based on property detail that covers 99% of the US Population AND an updated AVM value from an industry-leading AVM source. Strong, verifiable match rates. - Integration of other licensed data sets (above) into web-based application Loan Level Market Analytics (LLMA) Base: History from January 1992 - Loan Level (LL) Prime 29 MM active / 108 MM closed - LL Subprime 2.2 MM active / 19 MM closed - LL HE 5.5 MM active LOC / 1.5 MM active Loans - Coverage 85% Loan Level Market Analytics (LLMA) - Property Analytics: History from January 1992 - Loan Level (LL) Prime 29 MM active / 108 MM closed - LL Subprime 2.2 MM active / 19 MM closed - LL HE 5.5 MM active LOC / 1.5 MM active Loans - Coverage 85% Loan Level Market Analytics (LLMA) - Supplemental Loan Analytics: History from January 1992 - Loan Level (LL) Prime 29 MM active / 108 MM closed - LL Subprime 2.2 MM active / 19 MM closed - LL HE 5.5 MM active LOC / 1.5 MM active Loans - Coverage 85% Home Equity Brief and HE Loan Level: History from January 2002 - LL HELOCS (Home Equity & Lines of Credit) 5.4 MM active / 11.2 MM closed - LL HE Loans 1.7 MM active / 5.4 MM closed - LL HE 5.5 MM active LOC / 1.5 MM active Loans - Coverage 85% Real Estate Analytics Suite (REAS): Real Estate Analytics Suite (REAS) Overview Deck Modules include HPI Forecast, Market Trends, Commercial Trends, Listing Trends, and rental trends will assist in market analysis. Geographic Coverage: - 6,700+ ZIPs, - 1,100+ Counties, - 937 CBSAs, - 50 States + DC - Frequency: Monthly. Entire history refreshed each month - History: 1976 to present. CONTEMPLATED MAGNITUDE OF THE PROJECT The total estimated value of the contract is $4,000,000.00. CONTEMPLATED PLACE OF PERFORMANCE This is an On-Line Data Subscription to be provided from the Contractor's website. RESPONSE REQUESTED Small Businesses are encouraged to respond. This synopsis is a market research tool being used to determine the availability and capability of potential sources prior to determining the method of acquisition and whether the government will proceed with this acquisition. The Government will not pay for any information solicited. If a contract is ultimately pursued, responses to this synopsis will be used to aid in determining whether the acquisition is set-aside for small business or in establishing small business subcontracting goals. All qualified firms are encouraged to respond. The capability statement shall address, at a minimum, the following for the past three years: 1. Name and address of company and or companies (if there is a teaming arrangement or joint venture); 2. Technical expertise relevant to the requirement; 3. Technical approach relevant of the requirement (1 to 2 paragraphs); 4. Management approach relevant to the requirement (1 to 2 paragraph); 5. Corporate experience relevant to the requirement (1 to 2 paragraph); 6. Indicate if you are a small business or any other socio-economic categories that apply to your firm under the designated NAICS code; 7. Indicate your FSS Schedule contract number if you possess a FSS Schedule. 8. Whether you have had unequal access to any information relevant to the acquisition that could provide an unfair competitive advantage; 9. Relevant past performance. Your capability statement needs to include a list of three customers (Government/non-Government) within the past three (3) years highlighting similar work in nature, scope, complexity, and difficulty and a brief description of the scope of work. Your submission for relevant past performance must include for each customer: - Contract name; - Contracting Agency or Department, POC and contact information; - Yearly contract value (in $); - Whether your firm was the prime or a subcontractor; - Period of performance; - Description of work and how it relates to the requirements. Interested firms responding to this market survey must provide a capability statement demonstrating their experience, skills and capability to fulfill the Governments requirements for the above. The capability statement shall be in enough detail, but not exceed 5 pages TOTAL, so that the Government can determine the experience and capability of your firm to provide the requirements above. Please specify one primary and one alternate Point of Contact (POC) within your firm, including telephone numbers and email addresses in case clarifications of your submission are needed. Only electronic copies of capability statements will be accepted and should be emailed to: rachel.n.wilson@hud.gov. The e-mail shall contain the following subject line: Response to Sources Sought Notice - Subscription and Data Access for Loan Limit Data by County (Median Home Price Data Based on Recorder Data required for Federal Housing Administration Loan Limits), Loan Performance Servicing Data, and Mortgage Securities Data requirement. The Government may use the responses received to determine whether to proceed with the acquisition as a set-aside, or in the absence of a least two small business responses to this notice, may determine to proceed with a full and open competition. This decision and whether to proceed with the acquisition is at the sole discretion of the Government. All interested contractors should submit their capability statements by: - TIME_4:00 PM EST - DATE: 12-28-2018 Attention POC: Mrs. Rachel N. Wilson Late responses will not be considered. Responses to this announcement will not be returned, nor there any ensuing discussions or debriefings of any responses.