Specialty servicer Wingspan Portfolio Advisors has announced its partnership with National Claims Filing LLC of Irvine, Calif., to automate the handling of claims audits and compliant filings with bankruptcy courts across the country.
According to the companies, National Claims Filing provides a single-point, fully automated proof-of-claim (POC) preparation and risk management system. The POC is prepared, all supporting documentation is attached and the claim is filed with the correct court in accordance with that court's specific filing conventions.
An electronic litigation audit is performed to satisfy the unique rules of each court district across the nation, with National Claims Filing constantly monitoring these requirements as local rules are modified and published, the companies add. In addition, the service automates bulk claim transfers and examines each claim for anomalies and errors that could result in the claim's being questioned by the bankruptcy court.
"Lenders and servicers simply have to protect themselves in an increasingly hostile legal environment," says Wingspan's CEO, Steven Horne. "Borrower attorneys are capitalizing by casting doubt on lender information like servicing data, payment histories and basic accounting calculations the industry has used for decades. Having valid, carefully prepared and pre-audited proof-of-claims submissions has never been more important."