FAIRFAX, Va., May 7, 2014 (GLOBE NEWSWIRE) -- KPMG LLP, the U.S. audit, tax, and advisory firm, and Salient Federal Solutions, Inc. (Salient), a leading provider of information technology, have been awarded a contract to modernize the Federal Housing Administration's (FHA) business processes and technology.
The five-year (1 base, 4 option years) Blanket Purchase Agreement (BPA) contract has an anticipated value of $94 million. The FHA, a unit of the U.S. Department of Housing and Urban Development (HUD), is the world's largest insurer of mortgages. The contract is part of FHA's Mortgage Risk and Fraud Initiative (MRFI) and will provide new IT solutions that transform business processes and reduce risk to the agency's insurance fund.
KPMG is the prime contractor and will continue its support to FHA's modernization efforts by providing program management, technology consulting, systems integration, systems operations and maintenance, and business transformation services.
Salient will provide its extensive knowledge of HUD business processes and its software engineering experience to modernize, operate, and maintain the applications that HUD uses to administer and manage single and multi-family housing portfolios. The effort will strengthen HUD's ability to manage risk and prevent and detect fraud in the administration of loans for single and multi-family housing.
"We're delighted to have been chosen to help the FHA with this critical project," said Bill Phillips, who leads KPMG's federal advisory practice. "We have a great deal of experience in technology consulting and together with Salient's experience at HUD, we make for a very effective team."
"Salient and HUD have a long and proven partnership. This contract represents the level of trust that we have built with HUD," says Brad Antle, CEO of Salient. "We look forward to working side by side with KPMG to enhance and modernize HUD's critical Housing Management systems."
About KPMG LLP: KPMG LLP, the audit, tax, and advisory firm (www.kpmg.com/us), is the U.S. member firm of KPMG International Cooperative (KPMG International). KPMG International's member firms have 155,000 professionals, including more than 8,600 partners, in 155 countries.
About Salient Federal Solutions: A leading provider of Federal IT and engineering solutions enabling government and industry to respond quickly to new or surge mission requirements with exactly the right people, skills, expertise, and technical solutions. Working to accelerate mission impact by delivering highly adaptable technology services, engineering solutions, and domain expertise enabling customers to rapidly meet the pressing requirements of today. Headquartered in Fairfax, VA, with offices in McLean, Colorado Springs, Norfolk, Orlando, San Diego, and Tampa. Recognized by Forbes Magazine as one of America's Most Promising Companies and named Contractor of the Year. www.salientfed.com.
CONTACT: Jim McGann KPMG LLP 202-533-5783 email@example.com Matt Weiss KPMG LLP 201-307-8138 firstname.lastname@example.org Patricia Long Salient Federal Solutions, Inc. 703.891.8359 tricia.long@SalientFed.comSource:KPMG LLP;Salient Federal Solutions, Inc.