Tender Details

Country: USA
Summary: Notice of Intent to Sole Source to Credit Bureaus - EQUIFAX
UST Ref No: 106248146
Deadline: 03 Sep 2024
Financier: Self Financed
Purchaser Ownership: Government
Tender Value: Refer Document
Notice Type: Tender
Document Ref. No.: 12RADA24Q0003
Purchaser's Detail:
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Description:
Description
USDA Rural Development 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 Rural Development 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 Rural Development-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 Rural Development-s business needs for historical raw archived credit data that corresponds to Rural Development-s TOTAL Mortgage Scorecard algorithm that is used to underwrite the mortgages submitted for a Rural Development guarantee. Industry practice and Rural Development-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 (USDA-RD) 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 RFQs and associated Credit Bureaus are as follows:
12RADA24Q0002 - TransUnion
12RADA24Q0003 - Equi...
Documents:

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Notice of Intent to Sole Source to Credit Bureaus - EQUIFAX - USA Tender

The AGRICULTURE, DEPARTMENT OF, a Government sector organization in USA, has announced a new tender for Notice of Intent to Sole Source to Credit Bureaus - EQUIFAX. This tender is published on USARFP under UST Ref No: 106248146 and is categorized as a Tender. Interested and eligible suppliers are invited to participate by reviewing the tender documents and submitting their bids before the deadline on 2024-09-03.

The estimated tender value is Refer Document, and full details, including technical specifications and submission requirements, are provided in the official tender documents. Ensure all submissions meet the criteria outlined to be considered for evaluation.