By December 1st, 2011 Federal Bankruptcy Courts will mandate that all Notices be filed with the courts. No exceptions.
Bankruptcy Judges and Trustees are now actively scrutinizing Proof of Claims and Claim Transfers for errors and omissions. There is zero tolerance for errors.
These rulings and mandates reflect a world of tougher rules and regulations, and the risk of litigation for loan servicers has never been greater. NCF was created to help members of the financial services industry and bankruptcy practitioners eliminate risk, reduce overhead and save money.
NCF presents the financial services industry with a single point fully automated hands-free proof of claim preparation and risk management system. This technology has been created for use by investors, mortgage loan servicers, financial service companies and law firms with a bankruptcy law practice.
NCF performs these key functions:
Automates the preparation of the Proof of Claim, attaches all necessary supporting documents, and files the Proof of Claim with the correct court in accordance with their specific filing conventions.
Audits for compliance in accordance with the unique rules of each bankruptcy court district.
Automates bulk claim transfers and scrubs each claim for anomalies and errors.
Automates the process of creating and mailing notices to debtor, debtor's attorney and trustee. Notices include payment changes, post-petition payments, HAMP and escrow.
Whether you are filing a single Proof of Claim or transferring large pools of claims; NCF revolutionizes a process that is time consuming and prone to human error and litigation risks.
