Notice of Intent to Sole Source to Credit Bureaus - Transunion Tender, USA - 82658384

Procurement Summary

Country : USA

Summary : Notice of Intent to Sole Source to Credit Bureaus - Transunion

Deadline : 20 May 2023

Other Information

Notice Type : Tender

TOT Ref.No.: 82658384

Document Ref. No. : 86614623Q00016

Competition : ICB

Financier : Self Financed

Purchaser Ownership : Public

Tender Value : Refer Document

Purchaser's Detail

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Tender Details

Description

NOTICE OF INTENT TO SOLE SOURCE TO CREDIT BUREAUS BLANKET PURCHASE AGREEMENTS

86614623Q00014, 86614623Q00015, 86614623Q00016

Nationwide Credit Bureaus

The U. S. Department of Housing and Urban Development (HUD) intends to award Blanket Purchase Agreements to the three nationwide credit bureaus: Experian, Equifax, and TransUnion. These sole source awards are for access over the next five years to raw archived credit data maintained by each repository that can be combined with FHA borrower and loan data to evaluate scorecard performance and re-estimate and update the mortgage scorecard as new data and experience become available. The data will also be utilized for an assessment of how FHA-s distribution of insurance risk has been changing.

NAICS Code: 561450 Credit Bureaus PSC: R611 Support - Administrative: Credit Reporting

The authority permitting a sole source acquisition is FAR 13.501(a)(1)(ii) Simplified Procedures for Certain Commercial Items - 41 U.S.C. 1901- Sole Source (Including brand name) Acquisitions.

According to preliminary market research conducted, these three companies are the only companies that are able to provide HUD-s business needs for historical raw archived credit data that corresponds to FHA-s TOTAL Mortgage Scorecard algorithm that is used to underwrite the mortgages submitted for FHA insurance endorsement. Industry practice and FHA-s automated underwriting system require credit be obtained from each of the 3 major repositories (if present) considered in the underwriting decision. Fair Credit Reporting Law requires that system providers (HUD-FHA) employ depersonalized (coded) credit data for modeling (scorecard development and redevelopment) purposes and as a practical matter that data must be drawn from archives of past credit (that only the 3 repositories maintain) that correspond to loan origination rather than the subsequent current period loan status (default, prepaid, current).

The three RF...
Active Contract Opportunity
Notice ID : 86614623Q00016
Related Notice
Department/Ind. Agency : HOUSING AND URBAN DEVELOPMENT, DEPARTMENT OF
Sub-tier : HOUSING AND URBAN DEVELOPMENT, DEPARTMENT OF
Office : CPO : CPO; ACFO; SFCOD; FT WORTH OP
General Information
Contract Opportunity Type: Sources Sought (Original)
All Dates/Times are: (UTC-04:00) EASTERN STANDARD TIME, NEW YORK, USA
Original Published Date: May 06, 2023 04:55 pm EDT
Original Response Date: May 20, 2023 02:00 pm EDT
Inactive Policy: 15 days after response date
Original Inactive Date:
Initiative: None

Classification
Original Set Aside:
Product Service Code: R611 - SUPPORT- ADMINISTRATIVE: CREDIT REPORTING
NAICS Code: 561450 - Credit Bureaus

Place of Performance:

Documents

 Tender Notice