News
DYNAXYS WINS $75M DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) CONTRACT TO SERVICE GOVERNMENT INSURED MORTGAGE LOANS
Silver Spring, Maryland, October 28, 2008 – Dynaxys, a technology and accounting solutions firm, announces the award of the Federal Housing Administration’s (FHA) “Multifamily Mortgage Loan Servicing and Accounting, Property Management Servicing and Accounting and 202/811 Direct Loan UCC (Uniform Commercial Code) Set Up and Maintenance” contract held since 1982. The one-year contract for $16M was awarded with four year options totaling more than $75M.
“We are thrilled to be selected to continue to provide loan and accounting services to FHA. We are dedicated to delivering the utmost in performance, continuous improvement, and innovation for the management of these federal assets. “Lisa Miller, President of Dynaxys said, “The tenure of our relationship speaks to the trust and transparency that Dynaxys brings to loan servicing.”
The contract began when the federal government was faced with a mortgage crisis. HUD’s FHA was responsible for thousands of mortgages that were in default, resulting in a high volume of insurance claims from lenders. HUD partnered with Dynaxys to accommodate the volume of defaulted mortgages.
Dynaxys provides loan servicing, cash management, financial and asset management, and accounting services to service the HUD portfolio. The company develops complex and customized accounting and business software, and offers extensive reporting, adhoc and analytic capabilities to support for FHA's complex portfolio and multi-faceted operations. The systems are hosted in the secure data center at our Silver Spring headquarters, and our staff provide all information security, systems administration and programming services.
In feedback from HUD personnel, they commented that they were extremely pleased that Dynaxys was awarded the contract for services for the multifamily properties and HUD-Held notes. Dynaxys years of experience with HUD has enabled them to have an exceptional understanding of HUD’s business practices and provide HUD with excellent service.
Dynaxys is pleased to be acknowledged by HUD as one of their most outstanding contractors and an asset to the Department.
About Dynaxys
Dynaxys is a woman-owned small business that delivers software, hosting, and accounting solutions to government, commercial and non-profit customers. The company has expertise in outsourced accounting, business services and application development. Dynaxys invests in innovation and partnerships to advance process management and business intelligence including the use of the global standard, XBRL. More information can be found at http://www.dynaxys.com.
Contact Information
Dynaxys LLCLisa Miller
1-301-622-0900
lmiller@dynaxys.com
