When one loan can be sold twice.
A non-bank lender borrows from several funders. Each funder sees its own slice of the book, on a tape the lender prepares. None sees the bank accounts, and everything it does see comes from the lender.
A London lender went into administration early in 2026 amid allegations that the same mortgages had been pledged to several of its funders at once. Most of its funders learned of the overlaps only when it failed, after the money had moved.
£2bn+ and ~12 as reported by Reuters, 27 Feb 2026 and CNBC, 18 May 2026.
The tape predicts. The bank account confirms.
Every loan is looked for on every feed.
Loan references change, so we never match on them. Each loan is matched on the borrower, the property and the debt as fixed at origination; two funders with the same signature hold the same loan.
- The borrower same people ✓
- The collateral same property ✓
- The loan same debt ✓
Money in and out is checked against the tape.
Each month's amounts, destinations and timing are compared with the line's own history. A month inside its usual range passes. A payment to a firm off the solicitor panel, or collections short of the book, is a finding.
- 04 AugHarper & Co −£248,000Panel matched
- 11 AugWren LLP −£312,500Panel matched
- 19 AugHarper & Co −£191,250Panel matched
- 24 AugUnlisted payee −£199,000Flagged
Every funding line is declared.
Before committing to a new line, a funder can ask how many already sit behind that lender. A signed count comes back by the next business day, never names.
- Line A · warehouse tape received
- Line B · term facility tape received
- Line C · securitisation tape received
- Line D · warehouse no tape yet
One file a month, and one consent.
Everything else is our job.
- Each party's standard tape, exactly as produced. The lender sends its whole book; each funder forwards its copy.
- One open banking consent from the lender, through a regulated provider. Under an hour once, minutes a quarter after.
- Every funding line behind the lender's book, declared.
The lender's book against every funder's copy.
Checks for double pledging and book integrity.
Adds the lender's bank accounts.
Without it, a funder's report marks that section not assessed.
We hold nothing identifying.
The loan check reads facts fixed at origination and needs no names, full dates of birth or full addresses. It is designed so that we cannot identify any borrower.
The money check reads totals, timing and destinations on the lender's own accounts. Raw transactions are discarded in the same run. We keep the banded results, never a borrower's bank details.
One report, three questions.
Each party gets its own report every month, from the same run on the same evidence. Most months it is one page with no adverse finding.
- 01Is any of the line's collateral pledged to another funder?
- 02Does the funder's copy agree with the lender's book?
- 03Did the money move as the book predicts?
- CleanEvery check on your line clear.
- Early warningAn overlap on a loan still in the pipeline, or a bank movement outside its usual range, listed for review.
- EscalationAn overlap on a completed loan, or a payment to a firm off the solicitor panel, with the evidence attached.
Tapes are due within five working days of month end, and each party's report lands in its own private folder within three working days after that. Findings carry from month to month until resolved, and a missing feed holds a finding open. Each report carries its id, the engine version and a hash of the evidence behind it. View a full specimen report.
We're the fire alarm, not the fire brigade.
We report the findings and the parties act on them.
Independent sight of the book and the money.
No party can edit or hold back a finding.
Your word, independently checked.
"We don't double-pledge" is checked every month by a party with no stake in any loan.
Gen H and Landbay are verified monthly today.
See every side
of your book.
If you fund a non-bank lender, or you are one, email us and we'll set up a short call.
The FAQ and the security overview answer the questions data, legal and risk teams ask.
Commercials on request.