NOTICE OF INTENT TO SOLE SOURCE CONTRACT FOR HUD ACTUARIAL (REVIEW) STUDY FOR 2016 2021 OF THE MMIF FUND
Synopsis:
Pursuant to the authority of FAR 6.302-2, The Department of Health and Human Services (DHHS), Program Support Center (PSC), Acquisition Management Services (AMS), on behalf of the Housing and Urban Development (HUD), intends to negotiate a sole source basis an order with Pinnacle Actuarial Resources, Inc. 3106 Cornelius Drive Bloomington, IL 61704.
Description:
The Department of Housing and Urban Development (HUD), Federal Housing Administration (FHA) seeks a Qualified Independent Actuary to provide an actuarial study of the financial position of the Mutual Mortgage Insurance Fund (MMIF) as of September 30, 2017 to comply with 12 USC 1708(a) (4) which states that the purpose of the independent actuarial study is to analyze the financial position of the MMIF.
SCOPE:
The MMIF is a group of accounts of the federal government in which transactions associated with FHA's guarantee programs for single family mortgages are recorded. FHA currently insures roughly 8 million forward mortgages under the MMIF with an aggregate unpaid principal balance of $1.2 trillion and 600,000 reverse mortgages under the Home Equity Conversion Mortgage (HECM) program. As of September 30, 2015, the MMIF loan guaranty liability was $5.937 billion for forward loans and $4.500 billion for HECM.
Use of other than full and open competition:
This is a sole source requirement to Pinnacle Actuarial Resources, Inc. to meet the federally mandated audit requirement by 30 September 2017.
This justification is not based on one source being capable. The previous contract was not issued under sole source or limited sources procedures. However, the previous procurement did not require the actuarial certification. The omission of the actuarial certification requirement was erroneous and has been corrected in this package. This requirement is essential to the Government to comply with 12 USC 1708 (a) (4) requires HUD to provide for an annual independent actuarial study of the Mutual Mortgage Insurance Fund (MMIF) analyzing the financial position of the Fund as of each September 30, and the National Association of Insurance Commissioner's for Actuaries that requires the use certified Actuarial firms and Actuaries to conduct said studies as the one mandated to HUD for the Study of the AFOS MMIF each year and to publish said results, HHS has determined this action will ensure it meets the required award date to meet the September 30, 2017 required reporting date. HUD has indicated that the date cannot be changed, revised or missed.
The J&A is needed because the last two efforts to fulfill the solicitation were unsuccessful and the remaining time does not allow for a competitive procurement of the services. In order to acquire a vendor to meet the solicitation needs, HHS is requesting a sole source to Pinnacle who has been the only qualified company to show interest in the requirement. Based upon the feedback of the previous two unsuccessful solicitations and remaining procurement timelines, warrants this request.
The purpose of this interim solution is to provide the government with ample time to conduct this new procurement whilst ensuring no detrimental loss of service to HUD caused by unacceptable delays in performance due to a competitive procurement.
This notice of intent to award is not a request for competitive quotations. Interested concerns capable of providing the same or similar products or services as described in this notice may submit a capability statement outlining their capabilities. No solicitation is available. Information received will be evaluated for the purpose of determining whether to conduct a competitive procurement. Capability Statements must be received within the time set forth in this synopsis to be considered by the Government. A determination to compete this proposed contract based on responses to this notice is solely within the discretion of the Government.
Ovidio Gonzalez-Nunez, Phone 7032599432, Email ovidio.gonzalez-nunez@psc.hhs.gov - Dorene Jackson, Phone 703-159-9425, Email Dorene.Jackson@psc.hhs.gov
