SPECIAL NOTICE
D -- Loan-level mortgage datasets
- Notice Date
- 5/19/2011
- Notice Type
- Special Notice
- NAICS
- 518210
— Data Processing, Hosting, and Related Services
- Contracting Office
- Department of the Treasury, Bureau of the Public Debt (BPD), Division of Procurement, Avery 5F, 200 Third Street, Parkersburg, West Virginia, 26106-5312, United States
- ZIP Code
- 26106-5312
- Solicitation Number
- SS-CFP-11-0053
- Archive Date
- 6/17/2011
- Point of Contact
- A.Zoller, Phone: 304-480-8954, L. Gossett, Phone: 304-480-7213
- E-Mail Address
-
psb3@bpd.greas.gov, psb3@bpd.treas.gov
(psb3@bpd.greas.gov, psb3@bpd.treas.gov)
- Small Business Set-Aside
- N/A
- Description
- Intent to Sole Source: The Department of the Treasury's Bureau of the Public Debt (BPD), intends to negotiate sole-source procurement with CoreLogic and LPS/McDash for loan-level datasets at Consumer Financial Protection Bureau 1801 L Street NW, Washington, DC. The Government intends to award a firm fixed priced contract for a base period and 4 option periods. The CFPB Mortgage Markets group has the following duties which require mortgage loan-level data: • Establish empirical rulemaking records for numerous upcoming, statutorily-mandated rulemakings and reports to Congress and the public (the first of which will be the Qualified Mortgage rulemaking, for which the Public Notice and Comment period ends 7/22/2011); • Monitor mortgage market trends (including financial, industry structure, credit risk, product development, demographic, geographic, etc.) and report significant findings pursuant to Section 1022(c) of the Dodd-Frank Act using data-driven analysis for issues affecting consumer welfare; • Evaluate policy options, recommendations, and impacts; and • Conduct long-term quantitative research in mortgage loans (in partnership with Research). To conduct such functions, Mortgage Markets needs appropriate mortgage loan-level datasets. In a four-month study of available mortgage loan-level datasets, we concluded that only CoreLogic and LPS/McDash (in combination) will suit all of these needs. Our conclusion is based on the following investigation: • Assembled a team including two researchers who had conducted peer-reviewed multivariate regression studies using the major competing loan-level mortgage datasets; • Identified major research questions the Bureau needs to answer; • Worked with Urban Institute consultants to evaluate mortgage data addressing those questions; • Met with finance economists from the Federal Reserve Board, HUD, the FDIC, FHFA, the Wharton School, Harvard Business School, other leading business schools and economics departments, and the Pew Trust to discuss their mortgage data needs and solutions; and • Participated in a federal interagency mortgage data task force to explore long-term solutions to public mortgage data. The output of that investigation was a determination that any dataset would need to meet five essential criteria: (1) provide loan-level data, (2) combine origination data with loan performance data, (3) provide broad, comprehensive market coverage, (4) be reported in a timely fashion, and (5) have significant, proven data integrity with substantial support provided by the vendor. A sole source to CoreLogic and LPS/McDash is intended for this order. No existing dataset meets all of the required needs. There are five large mortgage loan-level datasets in wide use: HMDA (Home Mortgage Disclosure Act) & HMDA Plus, OCC-OTS Mortgage Metrics, CoreLogic Loan-Level Servicing Data, LPS/McDash Mortgage Performance Data, and BlackBox: While no single dataset will meet our required needs (given the requirement for broad market coverage over a combination of origination and performance data), by combining CoreLogic and LPS/McDash, we can achieve broad market coverage in conjunction with the other four required criteria. No other option provides the same coverage, time lag, and data integrity at the loan-level. A request for more information will not be considered an affirmative response. If no affirmative written response is received, that clearly demonstrates the ability to meet all the requirements, and that is more advantageous to the Government, we intend to negotiate a sole-source award to CoreLogic and LPS/McDash. Telephone inquires will not be accepted.
- Web Link
-
FBO.gov Permalink
(https://www.fbo.gov/spg/TREAS/BPD/DP/SS-CFP-11-0053/listing.html)
- Place of Performance
- Address: Consumer Financial Protection Bureau, Fifth Floor, 1801 L St. NW, Washington, DC 20036, Washington, District of Columbia, 20036, United States
- Zip Code: 20036
- Zip Code: 20036
- Record
- SN02451946-W 20110521/110519234330-df44db5240b238e2348156efe3659eb4 (fbodaily.com)
- Source
-
FedBizOpps Link to This Notice
(may not be valid after Archive Date)
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