Mortgage Service Company Payment and Receivables Processing

The New York City Department of Finance is seeking a contractor to process mortgage service company files for real property tax payments, including validation, aggregation, and consolidation of payment data.

New York DEPARTMENT OF FINANCE


General
Open
83626B0002
6 years base + options: 4 years, 2 years
Minority-Owned BusinessWoman-Owned Business
Invitation for/to Bid (IFB/ITB)
Local
Original Solicitation Links
Contact
Hamant Salaiman
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
NAICS522320Financial Transactions Processing, Reserve, and Clearinghouse Activities
PSCR711Banking Services(includes accepting and cashing government checks and other payment instruments, accepting direct deposits, accepting payments to the government from the public)
Smart Codes
file processingpayment reconciliationdata aggregation
Specifications
Service Only
Requirements
Required
  • 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
Required
  • Minimum 3 references
  • Client point of contact required for each reference
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