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Important RFP Update – 14 May 2008:
The final series of RFP Draft Questions and Answers (Q&A) have been posted. Select the "questions and answer on the DRAFT
RFP" link below. All questions and comments have been posted.
Important RFP Update – 12 May 2008:
Due to the large number of comments and questions submitted in response to the Draft RFP, LTC will require additional time
to sufficiently consider and incorporate all the comments and questions into the final RFP. Please be assured that a new
schedule will be created and distributed with the final RFP. Proposals will not be due on May 23, 2008. Thank you for your care and attention in reviewing the Draft RFP. LTC greatly appreciates your input, interest and participation
in this process.
RFP Update – 29 April 2008:
The first series of RFP Draft Questions and Answers (Q&A) have been posted. Select the "questions and answer on the DRAFT
RFP" link below. The remaining Q&A will be forthcoming.
RFP Update – 16 April 2008:
Thank you for your care and attention in reviewing the Draft RFP. LTC greatly appreciates your input. Due to the large number
of comments and questions submitted in response to the Draft RFP, LTC will require additional time (beyond Friday, April 18,
2008) to sufficiently respond. Please be assured that the final schedule will be adjusted as appropriate upon completion
of responses. Notice will be posted on the website when all questions have been addressed. Thank you again for your interest
and participation in this endeavor.
Lender Technologies Corporation (LTC), a subsidiary of the Mortgage Bankers Association (MBA), is an entrepreneurial organization
set up to provide a potentially wide range of products and services to the lending community. LTC is here to assist companies
in achieving strategic advantages, cost savings and efficiencies.
LTC is investigating the creation of a national database to help prevent fraud against lenders. Within both the industry and
law enforcement, there is increasing concern that mortgage fraud perpetrated against residential mortgage bankers has grown
considerably over the past several years with significant consequences to lenders as well as to taxpayers, consumers and communities.
The primary focus of this project is to develop a database and process to facilitate the secure sharing of information that
will improve a mortgage lender's ability to identify and stop fraud at the point of origination. The project presents a very
powerful opportunity for the mortgage industry to prevent fraudsters from harming both lenders and honest homeowners.
An industry working group, made up of several of the largest residential mortgage lenders as well as Fannie Mae and Freddie Mac, has now developed a Draft RFP (Request for Proposal) in followup to the RFI (Request for Information) that was circulated to the industry last
fall. The Draft RFP is now posted for industry review and comment, as described in the March 31, 2008 press release from LTC.
Industry comments and questions on the Draft RFP are welcomed, and will be accepted in writing at FPD@mortgagebankers.org, through April 11, 2008. Comments/questions and responses will be posted on this website, at the link below. The industry
working group intends to utilize these industry comments and questions in order to develop a final RFP to industry in late
April or early May.
The dates in Section 5.1 Proposal Delivery Instructions and 5.4 Proposal Guidelines were incorrect. The updated version reflects
the correct dates from Table 2-1 Acquisition Event Schedule.
Click Here to see the DRAFT RFP (PDF).
Click Here to see the press release.
Click here to see questions and answers on the DRAFT RFP.
Click Here to see the RFI (PDF)
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Click here to see questions and answers on the RFI.
ALL INQUIRIES REGARDING THE PROJECT MUST BE MADE IN WRITING ONLY. PLEASE DIRECT ALL INQUIRIES TO FPD@mortgagebankers.org.
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