• Business Process Outsourcing
• Overview
• Success Stories
• Our Capabilities
• Accounts Payable
• Billing and Collections Management
• General Ledger (GL) Management
• Loan Administration

Business Process Outsourcing

During the late 1970s and early 1980s, the Federal Housing Administration (FHA) was faced with thousands of mortgage defaults, which resulted in insurance claims from lenders flooding into the Department of Housing and Urban Development (HUD). Manual processes and poor technical solutions created inaccurate recordkeeping. HUD could not account for or report on its portfolio of mortgages properly. The program was in shambles.

Dynaxys used its expertise in three areas to resolve HUD’s problems after others, inside HUD and in other consulting firms, remained stumped. First, we applied our knowledge of best-in-class business processes to FHA’s internal operations. We customized accounting and business software, allowing FHA to automate highly complex and multifaceted operations. And, finally, we hosted the systems at our secure site so that the FHA could confidently operate its programs, day or night.

We delivered full loan servicing, cash management, property and loan accounting for several HUD portfolios. We became, and still are, HUD’s central repository for all data and documents related to these assets and the official record for the Department. This includes the following services:

• Mortgage payment billing and collections. We apply payments automatically in accordance with often complex algorithms.
• Portfolio management. We manage HUD’s investment of hundreds of millions of dollars in reserves for replacement accounts and process disbursements to pay for property capital items. We implemented and now monitor a new technology-based Minority Banking program for HUD.
• Accounts payable. We pay FHA bills in a timely manner and in accordance with federal funds control requirements.
• Asset accounting. We account for HUD’s assets in accordance with federal laws, including Credit Reform and FED GAAP requirements.
• Data management. We make data available to borrowers and regulators through our mortgage Website.
• Provide management control reporting for end-to-end processing.

Our standardized, documented procedures, exception reports, manual and automated quality control programs, and customer service support improved HUD’s ability to track expenditures, record income in a timely manner, monitor performance, avoid penalty charges for late payments, and sell assets. Our Help Desk services addressed questions from the user community and, at the same time, enabled Dynaxys to identify specific training needs and offer the assistance HUD needed to maintain a high level of data accuracy.

Dynaxys continues to work with HUD to add new features and functionality so that HUD maintains state-of-the-art performance. HUD has been able to rely on accurate information for decision making. With the proper controls and exception reporting tools Dynaxys created, HUD can ensure that it is managing its very limited affordable housing budget wisely. Today, HUD administers its programs economically and efficiently; can analyze data against a wide variety of variables to support financial management and monitor program performance; and, with timely analyses of results, can act promptly to address any problems.

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