HUD taps four to update securities program
By
Nick Wakeman
Four companies have won spots on a $127 million HUD blanket purchase agreement to help Ginnie Mae modernize the systems and processes it uses to sell debt.
Four companies have won spots on a $127 million Department of Housing and Urban Development blanket purchase agreement to modernize Ginnie Mae’s processes.
Accenture, CGI Federal, Deloitte and KPMG will provide a variety of services to provide software development, modernize proprietary applications, databases and systems that comprise Ginnie Mae’s securitization platform technologies.
Ginnie Mae is the nickname of HUD’s Government National Mortgage Association. Securitization is the financial practice of pooling various types of debt such as residential and commercial mortgages, auto loans and credit card debt and selling them as securities.
Companies on the BPA will compete for task orders to provide services such as agile development, implement new technologies such as those for robotic process automation, and upgrade business operations.
Ginnie Mae wants wants a common infrastructure that will address the need for greater transparency and improve the user experience for investors and issuers of its security products. The association has more than $2 trillion of assets under management.