Veterans Affairs



VALERI-R OverviewThe Department of Veterans Affairs (VA) Loan Guaranty (LGY) Service provides home loan benefits to eligible Veterans obtaining mortgage loans through private lenders by guarantying a portion of the loan against default. This allows Veterans to obtain mortgage loans at competitive rates with little or no down payment. When a default occurs on these guaranteed loans, mortgage servicers continue to provide primary servicing and VALERI (VA Loan Electronic Reporting Interface) enables VA staff to conduct oversight to ensure that Veterans are afforded every possible opportunity to retain their home. Veterans receive assistance in retaining their homes and minimizing their financial losses through primary servicing performed by their servicers, and servicing by exception performed by VA. VALERI is a web-enabled, rules-based solution designed to improve VA’s oversight capability and to reduce the cost to the Government for the servicing and liquidation of VA-Guaranteed loans. It provides an interface between VA and the mortgage servicing community, allowing mortgage servicers to report significant event updates to VA focusing on default, loss mitigation, foreclosure, acquisition and claim payments. The current VALERI system provides both a web-interface and an integration component to allow automated loading of events and updates from VA mortgage servicers. The web-interface allows VA technicians to manage VA loans and evaluate servicer performance to ensure compliance with regulatory requirements, allowing VA to intervene on the Veteran’s behalf, on exception basis when necessary. VA is seeking information on potential solutions to replace the existing VALERI system. The primary objectives of this RFI are to collect information regarding:The availability of existing fielded solutions in the marketplace that is similar in the size, scope and complexity of the current VALERI system which may also afford additional flexibility to meet future needs.Provide an estimated cost for the VALERI system replacement as well as the Data Aggregation Service and how potential providers evaluate and estimate pricing for software solutions.The timeline for the design, development, deployment and training of the VALERI-R system and transition from the existing VALERI to new VALERI- R system. Implementation of VALERI began February 20, 2008. Since November 2008, all servicers and all VA-Guaranteed loans have been managed through the VALERI environment. Currently, VALERI assists VA in managing over 2.02 million active and 2.05 million inactive VA loans (inactive loans are defined as 425 calendar days following the termination of a VA loan). By Fiscal Year (FY) 2019, VA anticipates managing 2.7 million active and 10 million inactive loans.As of June 25, 2015, VALERI maintains 3,527 active users, which includes 3,153 servicer users and 374 VA users, data exchanges with 481 servicers in the industry, processing over 157 event files daily and maintaining a web portal for the remaining servicers’ use.? VALERI processes an average of 65,536 events monthly.Important information regarding VALERI-RThe Project will be required to conform to all VA Project Management Accountability System (PMAS) and ProPath requirementsThe application will be built and hosted internal to VA. Interfaces (Please reference VALERI-R BRD and Business Models) and data exchanges with existing VA applications will need to be present (WebLGY, FMS, etc.)The solution shall include a web-based graphical user interface (GUI), capable of supporting more than 3,500 users across nearly 500 different servicing companies internally to the VA and externallyThe solution shall support 1,000 concurrent usersVALERI requires the daily collection of up to?254?loan-level data elements for all 2.3M active VA guaranteed loans. (VA expects that industry adoption data standards will increase the number of data elements collected over time). This information is provided by mortgage servicers and transmitted to the solution provider. The solution provider receives the information; conducts necessary data integrity checks, handles exception processing and imports the data into VALERI-R. Loan Data aggregation services should be priced separately.The Potential Provider solution shall receive loan data on a daily basis and compare it to previously submitted dataThe solution shall provide the capability to determine if any changes were made to the data and generate appropriate regulatory events based on the VA Business Rules.? (Event Interpreter Functionality) VA has developed business rules for each event, which shall be examined by the solution via a business rules engineThe solution shall make available the results for VA reviewThe Potential Provider solution shall interface with the servicing community (e.g., Servicer Proprietary Systems, Servicer Licensed Mortgage Servicing Systems, Mortgage Servicing Bureaus,) to support automatic detection of regulation-required events from servicer-provided data that is submitted daily. VALERI–R RFI QuestionsInstructions: The respondent should prepare two responses for every question below. One response should be prepared for the Data Aggregation Services described in VALERI-R BRD BN 6. The second response should be prepared for all other requirements in the VALERI BRD. Describe your current technology offerings that are similar in size, scope and complexity as compared to the VALERI-R solution described in the attached VALERI BRD and the VALERI Business Models.What would be your proposed solution for building and/or configuring a software application to support the requirements defined in the enclosed VALERI BRD and the VALERI Business Models? Important Note: Solutions may include custom built applications and/or commercial off the shelf products. Which technologies would you use in your proposed solution? What technologies do you own vs. those that are purchased or leased, describe where appropriate.Cost to design, develop, test, and deploy (Training, Transition, and Communication) and implement the proposed solution, identify key cost drivers.Time to design, develop, test, and deploy (Training, Transition, and Communication) and implement the proposed solution. Key milestones should include:PlanningRequirementsArchitectureDesign, Development TestingTransition from existing systemDeploymentWhat are the key risks associated with the proposed solution?Provide your feedback on the VALERI-R BRD and the VALERI-R Business Models? ................
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