24520543 - Credit Reporting Services

Background
The California Department of Veterans Affairs (CalVet) established the Home Loans Division to provide low-cost, low-interest loans to eligible veterans in California. This contract aims to secure credit reporting services necessary for evaluating veterans' creditworthiness during the loan qualification process. The contractor will provide a triple merged credit report and other required reports and disclosures in compliance with state and federal laws.

The contractor must also interface with CalVet's loan origination system, Calyx Path, which is a cloud-based application hosted externally.

Work Details
The contractor shall provide the following services:
1. A triple merged credit report including data from Equifax, Experian, and TransUnion;
2. Identity Authentication and Fraud Detection Report;
3. Employment Verifications through the Work Number;
4. Liens and Judgment supplemental reports;
5. Secure online access for authorized staff to all reports;
6. Capability for supplemental credit report updates including recent employment and residence history;
7. Customer service support via phone at no additional charge;
8. Compliance with Fair Credit Reporting Act (FCRA) requirements regarding consumer privacy and data handling.

Period of Performance
The contract is anticipated to begin on June 1, 2025, and will last for three years.

Place of Performance
Services will be performed at the California Department of Veterans Affairs located at 1227 O Street, Sacramento, CA 95814.

Bidder Requirements
Bidders must have a minimum of ten years of experience providing tri-merged credit reports and maintain all necessary licenses for this work. They must also demonstrate compliance with California Civil Rights Laws and have appropriate insurance coverage including Workers’ Compensation and Commercial General Liability.