The Department of Housing and Urban Development has awarded EDS Corp. a contract valued at up to $750 million to provide HUD with its information technology infrastructure.Under the contract, dubbed HITS for HUD Information Technology Systems, EDS will be responsible for furnishing personnel, hardware and software, telecommunications, facilities, and services necessary to deliver HUD's basic IT functions at more than 80 HUD offices around the country. The contract has a base period of four months followed by nine option years.
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Newly minted Federal Reserve Chair Kevin Warsh will host his inaugural press conference on Wednesday. Bankers will be paying close attention to what he says — and how he says it.
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The Federal Housing Finance Agency's annual report to Congress asks for enforcement and referral powers beyond the limited ones it currently has.
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The deal reinforces PennyMac's AI-focused pivot and will also accelerate development and growth of its proprietary servicing platform, the lender said.
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Rithm and UWM Holdings are the favorite names among publicly traded lenders, while BTIG adds coverage of Better Home & Finance at a buy rating.
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The deal offers a series of exchangeable, class A and B notes, which will pay coupons ranging from 6.00% on the A1 tranche to 5.00% on the A33 tranche.
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This industry executive finds subservicing mortgages impacted by rule changes and relatively higher delinquency rates helps test operations and keep them sharp.
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