The U.S. Department of Housing and Urban Development (HUD) intends to negotiate and award a sole source contract to Reverse Market Insight, 34232 Pacific Coast Hwy, Suite D, Dana Point, CA 92629. Under the statutory authorities 41 USC 3304 (a)(1) (see FAR 6.302-1) to provide Home Equity Conversion Mortgage (HECM) Business Service Provider to provide Business Service Provider via web-based that can support HUD’s Home Equity Conversion Mortgage (HECM) Insurance Program, which is commonly known as the FHA reverse mortgage program. The Business Service Provider shall meet the growing demand for – and complexity of HECM loans; shall comply with current Federal legislation; shall have the ability to accurately address legislative changes and modify HECM processes in a timely fashion; shall address audit weaknesses; and shall improve overall accountability, monitoring, reporting and oversight over the various stages of the HECM product’s life cycle. The contractor shall provide a Business Service Provider via web-based, end-to-end business service to manage HUD’s HECM portfolio; to meet the demand for HECM loans; and to address administering the HECM insurance program by HUD; by FHA-approved HECM investors, originators, and servicers; by HECM mortgage-backed security (HBMS) issuers, by Government-Sponsored Enterprises (GSEs); by HUD’s Loan Servicing Contractor; by third party service providers; by HUD-approved contractors; and by other HUD-approved groups. The contractor shall provide HECM business services for all active and historical loan level records; of ready access to data for financial, budgetary, user-generated reporting, and business intelligence and management reporting tools; of automated reconciliation support between loan balances and posted transactions between its HECM business services and FHA’s business partners’ automated and/or manual HECM records; and of the ability to quickly adapt to legislative, regulatory, and other administrative changes in the policies and procedures based on industry best practices for financial management and reporting, Federal government and Credit Program accounting, auditing, state-of-the-art information technology, security standards, and project management. The contractor shall provide staffing for the HECM business services Help Desk to address operational and technical issues related to delivery, implementation, operation, servicing, and validation of the HECM portfolio and to provide automated reconciliation support of all loan balances and posted transactions between its HECM business services, HUD, and FHA’s business partners (HUD Loan Servicing Contractor; FHA-approved HECM originators, servicers, and investors; HBMS issuers, GNMA and GSEs). The contractor shall provide training of HUD Headquarters, Albany Financial Operations Center, NSC, and HOC staff; HUD counselors and Housing Counseling agencies; HECM originators, servicers, and investors; and HUD’s Loan Servicing Contractor staff on HECM business services. The period of performance is for a 6-month base period plus a 6- month option periods. The NAICS code is 522390 – Other Activities Related to Credit Intermediation size standard is 20.5. This notice is not a request for competitive quotations. However, any firm that believes it can meet these requirements may submit a written response via email to
[email protected] by 12:00 PM Eastern Standard Time on September 15, 2020. Supporting evidence must be furnished in sufficient detail to demonstrate the ability to comply with the above requirement. Information received will be considered; however, a determination by the Government not to compete the proposed acquisition based on responses to this notice is solely within the discretion of the Government. If no responses are received, HUD will proceed with the sole source award to The anticipated award date of this requirement is on or around September 18, 2020. No calls will be accepted. If you have any questions regarding this announcement, please contact Brenda K. Lee at
[email protected].