Buying your first note is exciting. Around your tenth, a pattern shows up: the deal went fine, but the record of it is scattered. Payment history in an emailed PDF, purchase price in a spreadsheet, servicing fees in QuickBooks, boarding confirmation buried in your inbox. When your CPA asks about basis, or a buyer asks for payment history two years later, you rebuild the story from scratch.
NoteLedger exists to eliminate that rebuild.
What it is
A note asset management platform for private mortgage note and land contract investors — the kind who buy on Paperstac, use a third-party servicer, and hold anything from a first note to several hundred across a stack of entities.
It is not a servicing platform. Your servicer collects payments and handles escrow. NoteLedger sits one level above that as the system of record for *your* side of the asset: what you paid, what you own, who you deal with, and what the investment actually returned.
What it does
Structured asset records — terms, UPB, lien position, tax and insurance status, servicer, and holding entity. Contracts for deed, wraps, HELOCs, and HECMs are first-class instrument types, not mortgages with the labels changed, and manufactured-home collateral is a supported property type rather than an afterthought.
Servicer connections that keep the record current— Allied, Madison, and FCI sync directly over their APIs: loans, payments, escrow activity, and loan charges land on the asset without rekeying. For servicers without an API, payment and note data import from a file.
Payment and cash tracking — automatic P&I allocation, an escrow ledger with reserve balances, payment status, and monthly cashflow. Escrow is treated as pass-through cash for taxes and insurance, not as income to you.
Expenses out of QuickBooks — upload a QuickBooks report export and NoteLedger maps your chart of accounts, matches each transaction's Class to the right note, and proposes the expenses for review. Duplicate detection keeps a recurring servicing fee from being booked twice.
Intelligent contact surfacing — connect Office 365 or Gmail and NoteLedger reads message *metadata only* — who you corresponded with, how often, how recently, and subject lines — to surface the servicer rep, title officer, or borrower's attorney worth keeping in the file. It proposes; you accept or reject. The contents of your mail are never opened, parsed, or stored.
Property data and valuation refreshes — pull tax, ownership, characteristics, an AVM, and comparable sales for any property on demand, or set an account-wide recurring refresh so valuations don't go stale.
Workflow and tasks — sensible defaults drawn from experienced note investors, customizable to your own process, so the next action on a delinquent file isn't something you have to remember.
Realized return analysis — when a note pays off or sells, NoteLedger computes total invested against total received, net profit, ROI, equity multiple, annualized return, and hold period from the actual cash — purchase price, acquisition costs, and every expense booked against the asset — not the pro forma you built at bid time.
Multiple entities — LLC, self-directed IRA, Solo 401(k), trust, and personal holdings stay separated and don't commingle, with per-entity reporting and multi-user access for teams.
Document storage and OCR, investor reporting, and data export are in development, not shipped. Today the collateral file still lives in your cloud drive.
How it fits with Paperstac
Paperstac handles the transaction. NoteLedger handles the years that follow it.
Today, moving a closed purchase into NoteLedger means entering the loan once — a few minutes per note, or a file import if your servicer has already boarded it. Two integrations in development will remove that step in both directions:
Importing what you buy. Close on Paperstac and the asset appears in NoteLedger already populated — terms, borrower and property, payment history, and your purchase price set as cost basis.
Listing what you sell. Select an asset in NoteLedger and push it to Paperstac as a draft listing, with current UPB and payment history since acquisition. You price it and publish.
Together they close the loop: assets flow in when you buy, portfolio data flows back out when you sell.
Who it's for
Investors past the point where a spreadsheet holds up. For some that's the fifth note; for others it arrives the first time a second entity or a business partner enters the picture. At the other end, operators and small funds run hundreds of assets across multiple entities with a team sharing one set of books. Performing and non-performing alike.
Learn more: noteledger.io - every plan starts with a 30-day free trial.
*Informational only; not legal, tax, or investment advice. Note investing involves risk, including loss of principal.*