Payment Processing Vendor

Background
The Rhode Island Housing and Mortgage Finance Corporation (RIHousing) is seeking proposals from qualified firms to provide payment processing services. The goal of this contract is to enhance RIHousing's ability to process payments through various channels, thereby improving service delivery to its customers.

Work Details
The selected vendor will provide a hosted platform with real-time integration to the ICE (formerly Black Knight Mortgage Servicing Platform) via Web Services. The services include:

- Multiple payment channels: monthly and bi-weekly ACH, pin-less debit card transactions, and an automated telephone system.
- Secure messaging for payment confirmations via email, text messages, and USPS.
- Communication capabilities with customers through email or text messages.
- Content management and business rule settings, including tiered convenience fees and the ability to prevent payments based on customer default status.
- Robust reporting capabilities and secure storage of client records.
- Compliance with industry standards including CFPB, FHA, ADA, FNMA, FHLMC, GNMA, VA, USDA RD, and NACHA rules.
- Direct contacts for customer issue resolution and technical support with a Relationship Manager meeting biennially with RIHousing to review the product application and overall relationship.

Implementation of the product should begin within 60 days of contract execution and be completed within 120 days.

Period of Performance
The contract will be performed over a three-year term with a maximum service fee of $6000 per month. Implementation should start within 60 days of agreement execution.

Place of Performance
The services will be performed in Rhode Island as part of RIHousing's operations.