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Document type

Extracting data from promissory notes

Every mortgage closes on a signed promissory note, usually a Fannie Mae or Freddie Mac uniform instrument such as Form 3200, with adjustable-rate and state variants. Document custodians certify one for every loan delivered into a pool or sold, reading a scan of the original in the collateral file.

Certification needs the principal, the interest rate, the monthly payment, the maturity date and the lender. The custodian matches them against the loan schedule, and a note whose principal or payment differs holds up certification of the pool.

Page 1 of a sample Promissory Note, with extracted values outlined
10,220Markdown characters
26parse blocks
24fields extracted
The problem

What makes promissory notes hard

Terms written as sentences

A uniform note states the principal, rate and payment in first-person prose, such as "I will pay interest at a yearly rate of".

Small type on scanned copies

A note runs to three or more pages of small type, and the copy in a collateral file or court filing is usually a scan.

Near-identical form families

Fixed-rate, adjustable-rate and state-specific notes share most of their wording, and the adjustable versions add change dates and rate caps.

How it works

Parse, extract, verify

1

Parse

Parse turns the document into reading-order Markdown and a hierarchy of blocks (text, tables, figures), and grounds each block to its exact location on the page.

2

Extract

You define the fields in a JSON schema, and Extract returns their values in a consistent, structured format, each linked back to where it appears in the Markdown.

3

Verify

Each value links back to where it appears, down to the character range in the Markdown, and the page and bounding box in the source document, so every result can be verified.

Worked example

One promissory note, end to end

About this document: A VA-guaranteed mortgage note on the Fannie Mae and Freddie Mac Multistate Fixed Rate Note, Form 3200, filed as an exhibit to an Oregon foreclosure judgment. Three scanned portrait pages of small type, initialled on each page and signed on the last. Page 1 is featured. The borrower's name, signature, initials and property were replaced with stand-ins, and the loan number was blacked out before filing.

Processing objective: The objective is to read the loan's terms: who lent the money, how much, at what rate and for what monthly payment. Each term is written into a sentence of the note's first-person prose, and each grounds to the sentence that states it.

Demonstration fields: Lender, Principal, Interest rate (%), Monthly payment

The document

3 of 3 pages
  • Page 1 of the sample Promissory NotePage 1shown below
  • Page 2 of the sample Promissory NotePage 2
  • Page 3 of the sample Promissory NotePage 3

Where each value came from

Page 1 of the sample Promissory Note, with every featured field outlined
Lenderlender
Mortgage Express, LLC
The region of the sample Promissory Note containing Lender, with the extracted value outlined
extraction_metadata["lender"]
{
  "value": "Mortgage Express, LLC",
  "page": 1,
  "range": {
    "end": 532,
    "start": 425
  },
  "box": {
    "xmin": 0.22733,
    "ymin": 0.34495,
    "xmax": 0.78454,
    "ymax": 0.35633
  }
}
Principalprincipal_amount
360,000
The region of the sample Promissory Note containing Principal, with the extracted value outlined
extraction_metadata["principal_amount"]
{
  "value": 360000,
  "page": 1,
  "range": {
    "end": 424,
    "start": 311
  },
  "box": {
    "xmin": 0.24736,
    "ymin": 0.33363,
    "xmax": 0.81202,
    "ymax": 0.34532
  }
}
Interest rate (%)interest_rate_percent
3.875
The region of the sample Promissory Note containing Interest rate (%), with the extracted value outlined
extraction_metadata["interest_rate_percent"]
{
  "value": 3.875,
  "page": 1,
  "range": {
    "end": 971,
    "start": 949
  },
  "box": {
    "xmin": 0.22757,
    "ymin": 0.44873,
    "xmax": 0.34719,
    "ymax": 0.45947
  }
}
Monthly paymentmonthly_payment
1,692.85
The region of the sample Promissory Note containing Monthly payment, with the extracted value outlined
extraction_metadata["monthly_payment"]
{
  "value": 1692.85,
  "page": 1,
  "range": {
    "end": 1972,
    "start": 1913
  },
  "box": {
    "xmin": 0.24809,
    "ymin": 0.62261,
    "xmax": 0.55735,
    "ymax": 0.63481
  }
}

How to try it yourself

Everything on this page is reproducible. The sample, its schema, and the Parse and Extract API outputs are published. You can repeat the same two calls from whichever surface you already build on.

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Why LandingAI?

Documents into data

Accurate

The best accuracy on the difficult documents other tools get wrong, such as messy scans, complicated tables, checkboxes and handwriting.

Auditable

Every answer cites its sources. Values come back with an audit trail (page, bounding box, character range) so a human can review them.

Agentic

Applies multi-step reasoning, and plans before it acts. Handles documents it has never seen before and adapts to variations.

API-first

Composable APIs that drop into any tech stack and can be called from anywhere. Easy to build on and embed in your pipelines and products.

Affordable

Cost-competitive rates with complete price transparency. Spend controls before you run, and every job reports its exact cost.

Enterprise-grade

Built for production and scale from day one. Fully observable and monitored, running securely in our cloud or yours.

Built for high-volume, high-throughput production

  • Zero data retention
  • Priority rate limits
  • Enhanced support
  • VPC and on-prem deployment

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Capabilities

Promissory Note processing highlights

Principal and interest rate
Monthly payment amount
First payment and maturity dates
Late charge terms
Lender and payment address
Property address
Borrower signature detection
Initialed page counts
Uniform instrument form numbers
Scanned multi-page notes
No per-lender templates
Bounding box for every value
FAQs

Questions, answered

Yes. Describe each term in your schema, such as the principal or the monthly payment. Extraction reads them out of the note's prose as typed values, and each grounds to the sentence that states it.

No. A schema names the fields you want and describes them in plain language. Extraction reads the parsed note for meaning, so one schema covers fixed-rate and state variants of the uniform instrument.

Yes. Parsing marks signatures as attestation blocks, labelled SIGNED in the Markdown. A boolean field can read that label, and a count field can report how many pages carry the borrower's initials.

Yes. Parsing works from the page image, so a scanned note parses the same way as a native PDF. Every value is grounded to its position on the scan, for review against the original.

Every extracted value carries the character range it was quoted from in the parsed Markdown. The Ground API maps that range to a page and a bounding box, so a reviewer sees each term in the sentence that states it.

Start extracting promissory note data

Reliable, structured outputs with full traceability in minutes