Federal Home Loan Bank of Chicago | June 30, 2022
The Federal Home Loan Bank of Chicago (FHLBank Chicago) and the Government National Mortgage Association (Ginnie Mae) announced that total issuance under the Mortgage Partnership Finance® Program (MPF®) recently surpassed $3 billion in mortgage-backed securities (MBS). The MPF Government MBS product resulted from a partnership forged by FHLBank Chicago and Ginnie Mae to issue securities guaranteed by Ginnie Mae and backed by mortgages originated by Federal Home Loan Bank member financial institutions. The MPF Government MBS product provides mortgage lenders, particularly smaller institutions, direct access to the secondary mortgage market and more mortgage loan solution options for their valued customers.
Ginnie Mae developed the first mortgage-backed security in 1970, by pooling loans into a security sold in the secondary market.
The MPF Program is an important partnership for making the Ginnie Mae MBS system accessible to small community banks and lender partners, and this $3 billion milestone demonstrates its value in the marketplace. This program advances our mission and commitment to ensure liquidity for government mortgage products and create more equitable and affordable homeownership opportunities for households across the country."
Alanna McCargo,Ginnie Mae President
Federal Home Loan Banks across the nation offer the MPF Government MBS product to their members.
"As the MPF Program celebrates 25 years of helping community lenders nationwide, achieving this milestone with Ginnie Mae is another testament to our continued strong partnership," said John Stocchetti, Executive Vice President of the MPF Program. "Our business model provides community lenders access to the secondary market, and our relationship with these lenders gives their communities access to affordable mortgage products."
The MPF Program's partnership with Ginnie Mae began in 2014 and continues to provide lenders a channel to the MBS marketplace.
About the MPF Program
The MPF Program allows eligible Federal Home Loan Bank members to sell conventional conforming and government loans to their Federal Home Loan Bank or other investors. To learn more visit fhlbmpf.com. "Mortgage Partnership Finance" and "MPF" are registered trademarks of the Federal Home Loan Bank of Chicago.
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 MBS programs directly support housing finance programs administered by the Federal Housing Administration, the Department of Veterans Affairs, the Department of 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.
Torch.AI | August 19, 2022
Torch.AI, pioneers of data infrastructure AI, announced today a partnership with Vertosoft to accelerate the adoption of next-generation artificial intelligence (AI) and data infrastructure software capabilities across the U.S. Government.
Torch.AI, already supporting some of the world's most important organizations, has re-imagined how organizations use and extract value from data. The company's software is quickly becoming the AI ecosystem and data infrastructure standard, introducing a new way for teams to increase productivity, prioritize resources, and bridge data silos by accessing and correlating mission-critical information.
Torch.AI's role in the partnership will be to propel the adoption and delivery of new data infrastructures powered by AI to government agencies seeking an innovative response to complex data challenges. Torch's solutions will complement Vertosoft's strong portfolio of enabling technology partners in DOD agencies, such as the U.S. Army and U.S. Air Force, and further extend reach to Vertosoft's vast 100+ organization network across the greater DOD and Civilian space.
As a leading emerging technology distributor, Vertosoft is focused on bringing innovative and emerging technologies to the public sector. With dozens of contract vehicles and government-wide acquisition contracts, Vertosoft simplifies government procurement. The partnership with Torch.AI will enable Vertosoft to bring critically important data and AI capabilities to every level of government.
"We're excited to build on our momentum in the government space and continue powering mission-critical decisions and operational capabilities with our data infrastructure AI solutions, We see Vertosoft as a key component of our public sector strategy and plan to leverage their experience in bringing technology to the government market."
-Bobby Butler, Director of Partner Success at Torch.AI.
We continue to hear from public sector customers across the U.S. Federal, State, and Local markets that they're consistently looking to integrate more diverse datasets into their decision-making process and have systematically struggled in doing so, says Josh Slattery, Vice President of Technology Sales at Vertosoft. Vertosoft is thrilled to partner with Torch.AI to help bridge the gaps and turn AI into a reality for our public sector customers.
Torch.AI, the Data Infrastructure AI Pioneers, are headquartered in Kansas City with offices in Washington, DC. The company developed the use of AI to process data in-flight, radically evolving analytic and operational capabilities in any IT environment. Torch.AI's products and people are currently actively supporting operations in industries including financial services, construction and engineering, healthcare, and the US Department of Defense, US Department of Homeland Security, and other agencies.
Established in 2016, Vertosoft accelerates the adoption of innovative and emerging technology within the government. We bring the flexibility, agility, and responsiveness of a small company with the experience of a large organization. With our clear focus on emerging technology growth in government, Vertosoft is uniquely positioned to reduce complexity and provide scalable, cloud-ready technology solutions that enable government agencies to deliver smarter, client-centric digital transformations.
Hayden AI Technologies | July 01, 2022
Hayden AI Technologies, Inc., a leading provider of smart traffic enforcement solutions powered by artificial intelligence, has been awarded a patent for technology that automatically manages and analyzes traffic rules for violation enforcement and enables data-informed operational improvements for government agencies. The patent was awarded on May 3, 2022 and is labeled U.S. Patent number 11,322,017 B1.
The new patented technology facilitates the management of complex traffic rules using a traffic enforcement layer situated on top of a semantic map layer. The map layer, which consists of street elements such as intersections and stop signs, is continuously updated with data captured by Hayden AI edge devices already installed on municipal vehicles for automated enforcement. The enforcement layer consists of traffic rules that can be adjusted directly by the user or automatically via a traffic insight layer, which is generated based on traffic violations and traffic conditions. By analyzing the impact of traffic rules, the insight layer also provides suggestions for adjustments.
We devised this method because defining and managing traffic rules digitally hasn't been done successfully before. Our pilot programs consistently show that using AI to manage traffic rules is significantly more efficient and flexible than the traditional logic-based approach. We've also built in mechanisms that enable municipalities to gauge the effectiveness of particular traffic rules or lane restrictions in reducing traffic congestion as well as keeping buses on schedule."
Bo Shen, CTO and Co-Founder of Hayden AI
In addition to using artificial intelligence to automatically learn and manage traffic rules, the new system allows municipalities to directly update these rules via an interactive map editor. Government entities can also import raw traffic rule data from a transportation department database and generate a heat map of traffic violations detected by edge devices to update the insight layer.
By providing several methods to add and modify enforcement rules, the system helps government entities to update ineffective restrictions and ensure that enforcement results in a reduction in traffic congestion and crashes and an improvement in travel times and safety.
About Hayden AI
Hayden AI is pioneering smart traffic enforcement with its mobile platform to increase the safety, efficiency, and sustainability of municipal fleet vehicles. Our platform allows government agencies to enforce traffic laws, while harnessing AIoT data to gain actionable insights that help enhance the quality of life of their communities. Developed by a team of experts in machine learning, data science, transportation, and government technology, our flagship product, Automated Bus Lane Enforcement, enforces dedicated bus lanes, delivery zones, and intersections to reduce traffic congestion, improve bus speeds, and increase transit ridership.
GovPilot | September 08, 2022
GovPilot, a provider of modern cloud-based government management software specifically designed for municipal and county governments has successfully migrated its platform to Azure, Microsoft’s cloud platform.
The migration affords GovPilot and its local government customers with significant benefits including access to the latest Microsoft cloud technology and security which is already trusted by the Department of Defense, the Intelligence community, and 95% of Fortune 500 companies.
GovPilot’s Azure adoption comes at a time when local governments are increasingly the target of coordinated cyber attacks and malicious ransomware code which have disrupted operations and services, jeopardized data, and caused significant financial damage to local governments across the country. According to the FBI, local governments accounted for the second-highest victimized group in 2021, trailing only the academic sector as ransomware gangs’ favorite target.
“Local governments in the U.S. have often operated with a mix of paper-based processes, spreadsheets, single-use software, and older on-site server based systems. Not only is this inefficient but it is expensive to maintain and presents a significant cyber risk for local government administrators and their constituents, As a unified cloud-based government management platform, GovPilot aims to be the operating system for local government. This implementation provides our customers with best-in-class availability, reliability, and cyber resilience. GovPilot’s mission is to empower local governments to better serve their constituents and operate efficiently. Our implementation of Microsoft’s Azure Cloud is a major part of living up to and delivering on that mission.”
-Michael Bonner Founder and CEO,GovPilot.
With the Azure migration, GovPilot and its customers will realize significant benefits including:
Enhanced Security: The GovPilot platform is secured with the latest Microsoft technology.
Data Protection: All data is encrypted, and backed-up in multiple locations.
Scalability & Performance: Azure provides limitless room to grow, all while preserving performance.
Business Continuity: GovPilot enables users to access the platform 24/7 from anywhere. Azure allows for rapid restoration of services in the event of natural disaster or other catastrophe.
“By implementing the Microsoft Azure Cloud - trusted by 95% of Fortune 500 companies and U.S government agencies - GovPilot has made a serious commitment to security. Given the current threat environment, our customers and prospective customers in local government will benefit enormously from the technology provided by Azure.”
-Robin Smith, GovPilot’s Chief Operating Officer.
GovPilot - named a GovTech 100 company for five consecutive years - is the leader in digital transformation for local governments. GovPilot's cloud-based platform was built with the sole purpose of enabling local governments to operate at their full potential by standardizing, digitizing, and unifying more than 100 operational and constituent service processes on one operating system.