MeriTalk: USDA Issues Seventh Update to Cloud-Based Loan Origination and Servicing Platform RFI

“The U.S. Department of Agriculture (USDA) has issued the seventh update in its quest for a cloud-based Common Enterprise Loan Origination and Servicing (CELOS) platform.

In the initial post on in November of 2020, the USDA said its Rural Development mission area is dealing with increased customer demand for its loan and grant programs, so it is looking to automate tasks and better use online tools to communicate with customers and partners, as well as equip its IT staff with the information and agility to meet the requirements of its business stakeholders.

The new response deadline is May 21, 2021. Initially, responses were due by Dec. 4, 2020. The USDA issued RFI updates in December, twice in January, February, and twice in March before the most recent update…”

“While more information is likely forthcoming, USDA has already said the platform must provide industry-standard forms, data sets, and data definitions utilizing low-code/no-code solutions. Additionally, the preferred solution will include the use of Commercial-off-the-Shelf (COTS) / Government-off-the-Shelf (GOTS) products, Data as a Service (DaaS), Platform as a Service (PaaS), and Software as a Service (SaaS).

The solution must also be cloud-based and FedRAMP compliant, or it must be FedRAMP ready and capable of achieving compliance within six months of the award with sponsorship. Vendors will be required to provide an overview of their FedRAMP readiness level…” Read the full article here.

Source: USDA Issues Seventh Update to Cloud-Based Loan Origination and Servicing Platform RFI – By Kate Polit, April 26, 2021. MeriTalk.


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