Are the requirements of Form 410A Still Impeding Your Proof of Claim Process? 


AIS has your solution for reconciling payments and filing timely, compliant POCs.


The new Bankruptcy Proof of Claim form and its attachment, Form 410A, has been a challenge, to say the least, for the mortgage servicing industry.
 
Prior to the rule change last December, servicers did everything they could to prepare and comply.

Five months later, many organizations are still struggling to manually produce itemized statements for every Proof of Claim, as a result of in-house resource constraints and technology limitations.

American InfoSource (AIS) has worked diligently to develop highly-efficient Payment Reconciliation Solutions that help financial institutions:

  • Generate detailed, Form 410-compliant payment ledgers
  • Include descriptions of fees, escrow balances, suspense, etc. that accurately match the client’s system of record
  • Transform various payment history file formats into an easy-to-read excel format
As the largest filer of Proofs of Claim in the country, AIS can also support its clients with the formatting and direct electronic delivery of POCs to all courts, ensuring that claims are accurate and include the required documentation and breakdown.


Benefits of Partnering with AIS to Reconcile Payment Histories:
 
  • Eases the Manual Burden of researching, calculating and keying payment information
  • Reduces / Eliminates FTE costs associated with the process
  • Increases the Efficiency at which Proofs of Claim can be filed

AIS has the capabilities and resources to assist banks, credit unions, and mortgage servicers in creating accurate payment ledgers to ensure compliance.

AIS Payment Reconciliation Services can support your Proof of Claim Filing, Portfolio Data Hygiene, and Motion for Relief from Stay processes.

  
Struggling to Navigate the New POC Form 410 Process?

Contact AIS today at 877-247-7253 or Click Here to learn more on how we can address your Payment Reconciliation and POC Filing needs.

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