PhoenixTeam to Assist Department of Agriculture to Modernize Guaranteed Underwriting System (GUS)
ARLINGTON, Va.; Mar. 30, 2020 – PhoenixTeam has been awarded two contracts by the United States Department of Agriculture (USDA) Single Family Housing National Office (SFH NO) to provide leadership, industry subject matter expertise, MISMO mapping, and program management support services for the implementation of the new Guaranteed Underwriting System (GUS) and USDA’s roll-out of the new Uniform Residential Loan Application (URLA) submission requirements for November this year.
The USDA guaranteed loan program helps low- to moderate-income families in rural and suburban areas achieve homeownership.
By November 2020, USDA expects to modernize GUS and implement an updated Automated Underwriting System (AUS) that collects all data associated with the redesigned URLA. Lenders and brokers rely on GUS to provide underwriting recommendations based on their URLA submission.
“We’re excited to continue our partnership with USDA Single Family Housing to help them achieve this critical milestone” – said Tanya Brennan, PhoenixTeam CEO and Managing Partner.
The two contracts are worth a combined $3.1 million over 8 months. PhoenixTeam has previously worked together with USDA Single Family Housing to support their technology modernization programs.
PhoenixTeam is a women-owned small business that provides mortgage technology solutions to improve the home purchase experience for borrowers and help financial institutions, technology providers, and government agencies achieve their desired outcomes. PhoenixTeam specializes in serving federal housing agencies and the mortgage industry, helping deliver better business solutions through technology implementation excellence.