VA Lends $16M for Mortgage Services via Non-Competitive Order to Black Knight Infoserv

Contract Overview

Contract Amount: $16,033,114 ($16.0M)

Contractor: Black Knight Infoserv, LLC

Awarding Agency: General Services Administration

Start Date: 2009-06-09

End Date: 2014-06-30

Contract Duration: 1,847 days

Daily Burn Rate: $8.7K/day

Competition Type: NON-COMPETITIVE DELIVERY ORDER

Number of Offers Received: 1

Pricing Type: FIRM FIXED PRICE

Sector: Other

Official Description: LENDING SERVICES FOR VA

Place of Performance

Location: JACKSONVILLE, DUVAL County, FLORIDA, 32204, UNITED STATES OF AMERICA

State: Florida Government Spending

Plain-Language Summary

General Services Administration obligated $16.0 million to BLACK KNIGHT INFOSERV, LLC for work described as: LENDING SERVICES FOR VA Key points: 1. Significant spending on mortgage and loan brokerage services. 2. Sole-source award to Black Knight Infoserv, LLC. 3. Long contract duration of 1847 days. 4. High potential for taxpayer impact due to non-competitive nature.

Value Assessment

Rating: questionable

The contract value of $16 million over approximately five years suggests a substantial investment. Without comparable contract data or a competitive bidding process, assessing the value for money is difficult.

Cost Per Unit: N/A

Competition Analysis

Competition Level: sole-source

This was a non-competitive delivery order, meaning GSA did not solicit bids from multiple vendors. This limits price discovery and potentially leads to higher costs for the government.

Taxpayer Impact: The lack of competition raises concerns about whether taxpayers received the best possible price for these essential lending services.

Public Impact

Veterans may experience impacts on their mortgage and loan processes. Government efficiency in providing financial services is affected. Potential for increased costs for federal housing assistance programs.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Non-competitive award
Long contract duration
Lack of clear justification for sole-source

Positive Signals

Services provided to support VA lending programs

Sector Analysis

This contract falls under financial services, specifically mortgage and loan brokerage. Benchmarks for similar services are difficult to ascertain without competitive data, but $16M over 5 years is a considerable sum.

Small Business Impact

The data indicates this contract was not awarded to a small business, suggesting a lack of opportunity for smaller firms in this specific procurement.

Oversight & Accountability

The non-competitive nature of this award warrants further oversight to ensure the justification for sole-source procurement was robust and that the pricing was fair.

Related Government Programs

Mortgage and Nonmortgage Loan Brokers
General Services Administration Contracting
Federal Acquisition Service Programs

Risk Flags

Lack of competition
Potential for overpayment
Limited transparency
No clear small business participation

Frequently Asked Questions

What is this federal contract paying for?

General Services Administration awarded $16.0 million to BLACK KNIGHT INFOSERV, LLC. LENDING SERVICES FOR VA

Who is the contractor on this award?

The obligated recipient is BLACK KNIGHT INFOSERV, LLC.

Which agency awarded this contract?

Awarding agency: General Services Administration (Federal Acquisition Service).

What is the total obligated amount?

The obligated amount is $16.0 million.

What is the period of performance?

Start: 2009-06-09. End: 2014-06-30.

What was the specific justification for awarding this contract on a sole-source basis?

The provided data does not specify the justification for the sole-source award. Typically, sole-source contracts are used when only one vendor can provide the required service, or in cases of urgent need. Further investigation into the contract file would be necessary to determine the exact rationale.

How does the cost of these lending services compare to market rates or other government contracts?

Without a competitive bidding process, it is challenging to benchmark the cost against market rates or similar government contracts. The non-competitive nature means there's no direct price discovery mechanism to ensure optimal value for taxpayer dollars. A comparative analysis would require access to pricing data from similar sole-source or competitively awarded contracts.

What is the potential impact on VA's ability to serve veterans if these services are not procured competitively?

Procuring essential services like lending support non-competitively could lead to higher operational costs for the VA, potentially diverting funds from direct veteran services. It also limits the VA's ability to leverage innovation and cost efficiencies that often arise from a competitive marketplace, potentially impacting the speed and quality of service delivery to veterans.

Industry Classification

NAICS: Finance and Insurance › Activities Related to Credit Intermediation › Mortgage and Nonmortgage Loan Brokers

Product/Service Code: IT AND TELECOM - INFORMATION TECHNOLOGY AND TELECOMMUNICATIONS › ADP AND TELECOMMUNICATIONS

Competition & Pricing

Extent Competed: NON-COMPETITIVE DELIVERY ORDER

Solicitation Procedures: ONLY ONE SOURCE

Offers Received: 1

Pricing Type: FIRM FIXED PRICE (J)

Evaluated Preference: NONE

Contractor Details

Parent Company: Fidelity National Financial, Inc. (UEI: 604525241)

Address: 601 RIVERSIDE AVE, JACKSONVILLE, FL, 32204

Business Categories: Category Business, Corporate Entity Not Tax Exempt, Not Designated a Small Business, Special Designations, U.S.-Owned Business

Financial Breakdown

Contract Ceiling: $96,064,385

Exercised Options: $16,033,114

Current Obligation: $16,033,114

Parent Contract

Parent Award PIID: GS23F0005V

IDV Type: FSS

Timeline