Pyramid Completes HUD Pilot Program with Wells Fargo

Fairfax, VA – Pyramid is pleased to announce the successful completion of HUD’s pilot program in April 2016 with Wells Fargo that allows FHA lenders to submit Single Family Loss Mitigation claims through a new Business-to-Government (B2G) XML-based interface. Prior to this, the lenders could only file such claims manually, one-by-one, through the FHA Connection portal. The new B2G method makes the whole process more efficient and less error-prone by allowing lenders to fully automate these claim submissions in bulk, and also retrieve their status electronically through XML-based queries. HUD started working on this pilot with Wells Fargo in 2014 and together, with support from Pyramid Systems, the contractor supporting Single Family Claims System / A43C, made changes to B2G processing to better accommodate the needs of lenders, provide audit compliance, and improve system performance.

This is the first time FHA has used the B2G XML-based interface for claims. It supplements the other methods of submitting Single Family claims, such as using EDI (for Disposition claims), FHA Connection, and paper packages by mail. FHA is now planning to promote this new B2G interface to other FHA lenders submitting Loss Mitigation claims, and get more of them to use this new interface that will increase the efficiency of their operations and reduce their costs.

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