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Press Release​s​

Ginnie Mae Sets Stage for Next Generation Technology Development with New Cloud Services Contract
Contact: Douglas Robinson
Published Date: 10/5/2020 8:45 AM

WASHINGTON, D.C. – Ginnie Mae announced today that in coordination with the General Services Administration a 10-year, $140 million Cloud Services contract was awarded to team Deloitte (Prime), who partnered with AWS, JHC Technology and Bank NY Mellon.

The new contract will provide an improved path to meeting Ginnie Mae’s requirements, enabling consolidation of legacy platforms, improving availability, and providing more reliable, efficient, and higher quality services using cloud native solutions. This contract also provides a more modernized and centrally managed infrastructure platform integrated with leading edge cloud services, enhanced security, DevSecOps, monitoring, and service delivery across the entire Ginnie Mae application portfolio.

“This modernized cloud platform provides the infrastructure and application development environment to support the deployment of Ginnie Mae’s next generation of technology that is designed to maintain a strong mortgage-backed securities program for the government mortgage market,” said Barbara Cooper-Jones, Senior Vice President, Office of Enterprise Data and Technology Solutions.

Combined with the technology services contract recently awarded to MicroTech, this contract underscores Ginnie Mae’s commitment to building a more flexible, modern and cost- effective business that increases options for Issuers to meet the mortgage finance needs of homeowners, while protecting the American taxpayer.

About Ginnie Mae

Ginnie Mae is a wholly owned government corporation that attracts global capital into the housing finance system to support homeownership for veterans and millions of homeowners throughout the country. Ginnie Mae mortgage-backed securities (MBS) programs directly support housing finance programs administered by the Federal Housing Administration, the Department of Veterans Affairs, the Housing and Urban Development’s Office of Public and Indian Housing and the Department of Agriculture Rural Housing Service. Ginnie Mae is the only MBS to carry the explicit full faith and credit of the United States government.

Ginnie Mae I MBS are modified pass-through mortgage-backed securities on which registered holders receive separate principal and interest payments on each of their certificates. Ginnie Mae I securities can include single family, multifamily, manufactured home and project construction loans.

Ginnie Mae II MBS are modified pass-through mortgage-backed securities for which registered holders receive an aggregate principal and interest payment from a central paying agent. An Issuer may participate in the Ginnie Mae II MBS either by issuing custom, single-Issuer pools or through participation in the issuance of multiple-Issuer pools, which combine loans with similar characteristics.