HUD awards $127M contract for Ginnie Mae software modernization
The Department of Housing and Urban Development has awarded a blanket purchase agreement for modernizing the securitization software used by the Government National Mortgage Association (Ginnie Mae).
Accenture Federal Services, CGI, KPMG and Deloitte are all part of the potential $127 million, five-year contract.
Part of HUD, Ginnie Mae is a guarantor for the timely payment of principals and interest on mortgage-backed securities. The organization’s services, it says, minimize risks to taxpayers and make it easier for underserved populations to obtain mortgages.
The goal of the new BPA is to help Ginnie Mae modernize the software it uses to help lenders find mortgages for home buyers. The update also aims to improve user experience with the government mortgage lender.
To do this, Accenture, as one example, plans to introduce “innovative practices” like agile software development and new technologies like robotic process automation.
“We’re honored to help Ginnie Mae advance the IT transformation initiatives that are critical to supporting the modernization of the securitization platform,” Elaine Beeman, who leads AFS’ civilian portfolio, said in a statement. “We’re bringing together proven commercial capabilities, significant experience in financial services, and expertise in federal IT modernization and application development to help Ginnie Mae scale its capabilities quickly and deliver more value to their partners and customers.”
This software services contract is part of HUD’s overall push to modernize Ginnie Mae’s policies, processes and technology.