NOTICE OF INTENT TO SOLE SOURCE

NOTICE OF INTENT TO SOLE SOURCE – Securitized Transactions Financial Advisor (STFA) Supportive Services - 86615526R00001 (RCS-T-2026-00006)

THIS IS A NOTICE OF INTENT TO SOLE SOURCE AND NOT A REQUEST FOR QUOTATION OR PROPOSAL. THERE IS NO SOLICITATION PACKAGE AVAILABLE FOR THIS ACTION. The U.S. Department of Housing and Urban Development (HUD), Office of the Chief Procurement Officer (OCPO), located in Washington, DC, intends to negotiate and award a hybrid (Firm-Fixed-Price (FFP) and Time and Materials (T&M) sole-source contract to PricewaterhouseCoopers, LLP (PwC) (655 New York Ave NW, Washington, DC 20001). This acquisition is being conducted using the policies and procedures of Federal Acquisition Regulations (FAR) Overhaul 15 “Contracting by Negotiation.” and FAR Overhaul Part 12 “Acquisition of Commercial Items” and supplemented by the Housing and Urban Development Acquisition Regulations (HUDAR). The North American Industry Classification System (NAICS) code for this requirement is 523150: Investment Banking and Securities Intermediation.

Background & General Description of Work: HUD’s Government National Mortgage Association (Ginnie Mae) has a requirement for a sole source award to PwC, to continue supporting Ginnie Mae’s Multiclass financial products, Mortgage-Backed Securities (MBS), mortgage derivatives, and mortgage related securities. The current contract 47QFDA24C0001 was awarded on May 20, 2024, to PwC, for a base period of 12 months and one (1) six-month option period. The 6-month extension under FAR 52.217-9 was exercised on November 20, 2025, and it will expire on May 19, 2026. Ginnie Mae requires STFA Supportive Services. The Contractor shall serve as a transaction advisor for GNMA’s Multiclass financial products, Mortgage-Backed Securities (MBS), mortgage derivatives, and mortgage related securities as implemented by GNMA. The draft Performance Work Statement (PWS) is attached.

Unique Characteristics of the Requirement: The circumstances of this requirement deem only one source reasonably available due to the unique and specialized nature of the Government’s need for continuous services. STFA Services are essential to create the STFA framework needed to serve as a transaction advisor for GNMA’s Multiclass financial products, Mortgage-MBS, mortgage derivatives, and mortgage related securities. STFA Services provided under the Contract require the capability of providing GNMA with insight into highly complex securitized mortgage, mortgage derivative, and mortgage related products, requiring a unique skillset. STFA Services have been identified as a National Essential Function by the Department of Homeland Security. Any delays, interruptions, or lapses in STFA Service will halt the issuance of Multiclass Securities, which will have a potentially devastating effect on the functioning of the MBS and Multiclass markets.

Market research revealed that there are three firms that have experience and capabilities in the provision of services, as it relates to current GNMA Multiclass transactions business. However, their current business with GNMA presents a potential conflict of interest. Two of the firms are accounting firms that have familiarity with GNMA’s Multiclass Securities Programs relative to the MBS market as defined in the PWS. These firms are active accountants for Multiclass Program Sponsors who issue the securities, with each accounting firm performing approximately 50% of the monthly transactions. The firms are selected and paid by the Sponsors, and the firms are required to maintain their American Institute of Certified Public Accountants (AICPA) professional independence. Performing STFA Services is an AICPA professional conflict of interest which prevents these two firms from working for the Sponsor and for GNMA on the related securities. This leaves the incumbent, PwC, as the only viable, available source to fulfill the acquisition need.

General Information & Instructions: This is NOT a solicitation for proposals, proposal abstracts, a request for competitive proposals; or request for competitive proposals; however, all responses received within 3 days from the date of publication of this synopsis will be considered by the Government. Any responses to this notice must clearly and thoroughly defend claims or assertions that attempt to refute the Government’s stance. A determination by the Government not to compete this proposed action based upon responses to this notice is solely with the discretion of the Government. Information received will normally be considered for the purpose of determining whether to conduct a competitive procurement, but the information must eliminate the Government's concerns and address how the items can be provided without jeopardizing the requirement. A brochure or capabilities statement is not the way to alleviate or eliminate the Government's concerns. Responses must be specifically tailored to address (1) exactly how the offeror’s services can be provided without jeopardizing the Government’s mission, (2) how the approach overcomes the barrier to competition the Government faces, and (3) how the approach is more advantageous to the Government than the sole source approach. If no affirmative responses are received within 3 days of this notice, a contract will be issued to PwC. Any questions regarding this notice must be submitted in writing via email to Melissa.A.Corum@hud.gov and Cheri.L.Redding@hud.gov.