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Request for Information

ID: CFP-25-RFI-0001 • Type: Sources Sought

Description

THIS IS A REQUEST FOR INFORMATION ONLY.

There is no promise of an award or an upcoming solicitation.

Background:

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Pub. L. 111-203)

established the Consumer Financial Protection Bureau (CFPB) to regulate the offering and

provision of consumer products or services under federal consumer financial laws. Consistent with the purposes of the Dodd-Frank Act, CFPB's mission is to establish and enforce clear, consistent rules for the financial marketplace, protect American families from unfair financial practices, and develop and implement a strategy to improve the financial literacy of consumers.

The CFPB is charged with developing and implementing initiatives intended to educate and

empower consumers to make better informed decisions (12 U.S.C. 5493(d)). As part of its work to fulfill this educational mandate, the CFPB has developed a set of tools and resources to help consumers navigate the uncertain financial terrain between themselves and their goals.

One of such tools is called Mortgage Interest Rate Explorer (Explorer), which helps consumers (homebuyers or homeowners) understand what interest rates they can expect to receive on their mortgage loan, based on their personal characteristics, including credit score, physical location, and loan amount. The tool helps consumers be better prepared to shop for a loan

by giving them a greater understanding of the current market. It also helps them evaluate their loan offers to see if they have gotten a good deal relative to what would be expected in the market for someone with their personal characteristics.

Purpose of RFI:

The objective of this RFI is to conduct market research to find potential data and service providers to power the Explorer tool from a cost-efficiency perspective.

The CFPB wants to identify vendors who can provide the scope of the data and service that falls into the following categories: data requirements, data coverage, data quality and technical delivery.

see attached PDF file with RFI and instructions.

Background
The Consumer Financial Protection Bureau (CFPB) was established by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 to regulate consumer products and services under federal financial laws. The CFPB's mission is to enforce clear rules for the financial marketplace, protect American families from unfair practices, and improve consumer financial literacy.

One of its initiatives is the Mortgage Interest Rate Explorer tool, which assists consumers in understanding potential mortgage interest rates based on personal characteristics such as credit score and location, thereby empowering them to make informed decisions when shopping for loans.

Work Details
The RFI seeks market research to identify potential data and service providers for the Mortgage Interest Rate Explorer tool. Vendors are requested to provide:
1. Data for all fields in Exhibit A, with a sample included in the RFI response.
2. Additional data and services that meet the objectives of data requirements, coverage, quality, and delivery.
3. A detailed contract and cost breakdown structure for their data and services, including estimated costs for variables such as data coverage and delivery frequency (daily or biweekly).

The submission should also include a capabilities statement addressing vendor details, existing federal contract vehicles, expertise relevant to similar requirements, responses to RFI questions, and small-business size status.

Overview

Response Deadline
Nov. 12, 2024, 12:00 p.m. EST Due in 9 Days
Posted
Oct. 31, 2024, 10:54 a.m. EDT
Set Aside
None
NAICS
None
PSC
None
Place of Performance
Washington United States
Source
SAM

Est. Level of Competition
Average
Odds of Award
10%
On 10/31/24 Consumer Financial Protection Bureau issued Sources Sought CFP-25-RFI-0001 for Request for Information due 11/12/24.
Primary Contact
Name
Vanessa del Toro   Profile
Phone
None

Secondary Contact

Name
Michael Villano   Profile
Phone
None

Documents

Posted documents for Sources Sought CFP-25-RFI-0001

Question & Answer

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Additional Details

Source Agency Hierarchy
CONSUMER FINANCIAL PROTECTION BUREAU > CONSUMER FINANCIAL PROTECTION BUREAU > CONSUMER FINANCE PROTECTION BUREAU
FPDS Organization Code
955F-9531CB
Source Organization Code
500000031
Last Updated
Oct. 31, 2024
Last Updated By
vanessa.deltoro@cfpb.gov
Archive Date
Nov. 27, 2024