Mortgage Service Company Payment and Receivables Processing
New York DEPARTMENT OF FINANCE
Original Solicitation Links
83626B0002
]msc payments & receivables processing (035140)
Contact
Submission Instructions
Description
The New York City Department of Finance is seeking a contractor to process mortgage service company (MSC) files related to escrowed real property taxes. The contractor will be responsible for validating, aggregating, and consolidating files received from MSCs, matching payment totals to Fedwire payments, and producing a consolidated output file for DOF to post payment records. This is a Competitive Sealed Bid (CSB) RFx released through PASSPort, New York City's online procurement portal. Responses must be submitted via PASSPort. The procurement is subject to Local Law 1 - M/WBE participation requirements. The contractor must demonstrate at least three years of relevant experience and submit at least three professional references. Key milestones include a release date of June 10, 2026, a questions due date of June 26, 2026, and a bid opening/due date of July 13, 2026. The anticipated contract start date is November 13, 2026, with an anticipated end date of November 12, 2032. The anticipated contract term is six years, with the option for renewal.
Classification Codes
Smart Codes
Specifications
Requirements
- Commercial General Liability — $1,000,000.00
- Commercial Auto Liability — $1,000,000.00
- Professional Liability/Errors&Omissions — $1,000,000.00
- Cyber Liability Insurance — $5,000,000.00
- Minimum 3 references
- Client point of contact required for each reference
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