MSC Payments & Receivables Processing

The New York City Department of Finance is seeking a qualified contractor to receive, validate, aggregate, and consolidate escrowed property‑tax payment files from Mortgage Service Companies (MSCs), reconcile those files to a single Fedwire payment, and deliver a consolidated output file for posting to taxpayer accounts. Daily reporting, error‑reporting, and strict security and confidentiality requirements are embedded in the contract, and the work must be performed under a six‑year fixed‑price sealed‑bid arrangement with possible renewal options. • Validate MSC payment‑advice files against Fedwire totals and generate error reports for any mismatches. • Consolidate validated files into a single output file and transmit it securely to the Department of Finance each processing cycle. • Provide daily processing reports, maintain disaster‑recovery capabilities, and comply with NYC’s cyber‑security, MWBE, and confidentiality statutes. • Operate two dedicated bank accounts with fraud‑protection services, handling inbound/outbound file transmission, and support ongoing monthly invoicing.