Pyramid Systems Selected to Help Advance HUD through a $42 Million Loan Modernization Program

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Sep 16, 2020, 07:00 ET

FAIRFAX, Va., Sept. 16, 2020 /PRNewswire/ -- The U.S. Department of Housing and Urban Development (HUD) awarded Pyramid Systems the Salesforce Refactoring and Implementation Support Services (SRISS) contract, which will modernize the Federal Housing Administration (FHA) loan system. SRISS runs for two years and is worth $42 million. Pyramid will modernize and replace several mainframe and legacy applications to help the agency operate more efficiently and cost-effectively while improving system usability, security, and maintainability. Last summer, Pyramid was invited to help the agency embark on a critical and ambitious initiative to transform and modernize FHA's legacy systems using a minimum viable product (MVP) approach. HUD's leadership developed an aggressive time frame for different vendors to build MVPs. Pyramid successfully developed an MVP and pushed the solution into production within 100 business days.

Sherry Hwang, president and co-founder, said, "Pyramid has supported HUD's mission for 25 years and has extensive knowledge of its technology, people, and processes. We are thrilled to partner with HUD and help move the agency beyond mainframes into the cloud while digitizing manual processes. Pyramid has recently supported HUD with the modernization of Salesforce technology via supplemental claims MVP, which allows mortgage lenders to submit supplemental claims online in 17 minutes and receive payment in days versus the previous 17-month paper process. HUD is swiftly advancing toward a next-generation agency, and we are so excited to be a partner with them on this journey."

Pyramid will assist HUD by refactoring legacy systems using Salesforce, a low-code platform, and moving the applications to AWS GovCloud. HUD will be able to leverage leading-edge data analytic capabilities and the scalability, flexibility, and security of the cloud. The modern system will eliminate many of the current paper-based submission processes during a loan's life cycle and potentially save HUD millions of taxpayer dollars a year.

To learn more about Pyramid's digital transformation expertise and solutions, visit https://pyramidsystems.com/services/services-modernization/.

About Pyramid Systems
Pyramid Systems is an award-winning technology leader driving digital transformation across federal agencies. We solve complex problems with advanced technologies and modern methodologies. By leveraging leading-edge cloud, analytics, and low-code platforms with Agile and DevSecOps approaches, we deliver highly secure, mission-critical solutions. Pyramid has professionalized innovation to deliver consistent results, reducing the time from prototype to production to scale. We partner with clients to optimize for better citizen experiences, faster user adoption, greater efficiencies, and improved mission outcomes. Our unique culture is the main driver of why we build solutions that last.

SOURCE Pyramid Systems, Inc.