Pilot agencies submitted data to ED in late April and received the NDNH data back the third week of May. The total number of records submitted for all Guaranty Agencies was 581,293 with 195,615 matches from HSS records. This resulted in a hit rate of 34% and all GA’s will be required to monitor the results from these pilot accounts. The next submission will occur in late August and all GA’s will be eligible to participate in this submission.
A conference call was held with ED, their contractor and the pilot guarantors to discuss the processing of data and the success of the data exchange. There were a number of questions presented to ED regarding the data exchange process. These questions and answers from the conference call will be posted in the near future. During the conference call, ED stressed the importance of monitoring the results from the pilot project as well as future data exchanges. Of particular concern is how much revenue was derived from this data. Pilot agencies should monitor/track total revenue received from the pilot accounts from the date the data was received. ED will then collect this data on the basis of monthly, quarterly, annually and cumulative revenue. If the information is not provided to ED by December 2001, the agency will not be able to participate further in the exchange until the information is received. ED is obligated to report the results and impact of this data exchange within SFA and to congress.
The next opportunity to submit records will be in late August. Currently, there are ten additional agencies that have expressed an interest in participating in the next exchange. A conference call is being scheduled for next Friday, July 20, 2001 with the new agencies that want to participate. If you are interested in participating please contact Phillip Cervin at or call him at (512) 219-4649. In preparation for the call, please forward any questions you may have to Phillip Cervin by Wednesday (7/18). These will then be forwarded to Marian Currie with ED who will lead this conference call. An email will be sent to those agencies that have responded no later than Wednesday (7/18) with the phone number and code for the call.
As a reminder, ED will need a signed Disclosure and Security Agreement from each participating agency before tapes will be accepted. The agreement can be found on NCHELP’s web site, and can be located on the Debt Management Committee web page. If you are interested in participating in the next exchange, please forward two signed agreements to Marian Currie with ED before the end of July. Marian’s address can be found on the agreement. New participants will not be required to submit test tapes to ED and will receive notification of when data may be submitted.
If you have any questions, please email Phillip Cervin at or call him at (512) 219-4649.