410A Extraction
with 410a Extraction, you can upload the servicer’s payment histories; get back a draft Mortgage Proof of Claim Attachment (Official Form 410A) with every figure traced to its page, every balance checked to the cent, and anything that needs a person listed first. This is the power of NetDirector’s enhanced 410A Extraction with 2nd Auditor. Learn more below!
The problem that 410A Extraction solves:
Every mortgage proof of claim on a principal residence needs a Form 410A. Building one means working through dozens of pages of servicer screen prints and reports, often from two or three servicers, scanned and in different layouts, and rebuilding the loan’s history line by line: installments due, payments applied, escrow, suspense, fees and advances. It is slow, repetitive and unforgiving. One misread number carries through every balance after it.
Most firms do this by hand, or with paralegals who are not 410A specialists. The work takes hours per loan, and the risk of an error in a filed claim sits with the firm.
410A with 2nd Auditor steps in to solve this problem. It’s built for anyone who has to turn a servicer’s payment history into numbers they can stand behind. That includes bankruptcy firms, Chapter 13 trustees, mortgage servicers, debtors’ attorneys, and collections teams, from agencies and debt buyers to collection law firms.
It uses two specialist models, each with its own job, backed by exact code that checks every number. It covers everything from the first page of the servicer’s history to a finished draft with every figure traced. And it saves your team hours on every claim.
Learn more about 410A Extraction with 2nd Auditor
Every number is proven. Every running balance is recalculated to the penny and matched against the balances the servicer printed. If something doesn’t add up, you see it. It is never hidden.
A second, independent auditor checks our work. Think of a second paralegal re-reading every page. A separate auditor goes back over the histories looking for anything missed or misread, and every concern it raises is checked against the page before it reaches you.
Nothing is guessed. Every figure shows where it came from. Anything uncertain goes to the top of your review list.
Your team makes the final call. We do the reading and the math; your attorneys make the legal decisions.
Why the second audit matters: one misread number in a payment history carries through every balance after it. A second, independent check catches what a single reader misses before it reaches a filed claim.
Hours back on every claim.
The reading and arithmetic that takes hours by hand is done in minutes.
Confidence before filing.
Every number is proven against the servicer’s own figures, and a second auditor checks the reading.
Faster review.
Every figure points to its page, so checking takes seconds instead of re-reading the file.
Fewer surprises.
Problems are flagged up front, not discovered after the claim is filed.
Handles the messy files.
Scanned faxes, several servicers, servicing transfers and loan modifications.
Your fees included.
Add your attorney fees on a simple one-page sheet and they flow through the whole form.
Let's review your current integration and automation strategy.
Does it replace our review? No. It removes the hours of reading and arithmetic. Your team confirms the items flagged and makes the legal calls.
What if the histories are scanned? Scanned and faxed pages are read and checked the same way.
What about attorney fees? Upload them on our one-sheet template, or add them yourself. Possible duplicates of charges the servicer already recorded are held for your decision.
Which servicers? See the list on the upload page. Any servicer can be submitted.
How long does it take? Typically a few minutes per loan.
Temporary by design. Your payment histories are held only while we prepare the draft. They are never kept as an archive.
Names and loan numbers are blacked out (currently being rolled out). Enter the borrower name and loan number and they are blacked out on the pages before our models read them, so that personal information never reaches the models.
Never used for training. Your files are processed within our secure cloud account and are never used to train any model.
No new logins. Sign-in uses your existing NetDirector account.
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