When one loan can be sold twice.
Originators raise their funding from many funders at the same time, and each funder sees only its own slice.
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. The funders discovered the overlaps together, after the money had moved.
A verification agent checks only the funders the originator names, so a funding line left off that list keeps its duplicates out of sight. Most discrepancies are honest data errors. The trust between originator and funder has simply been asserted rather than checked.
The check has two parts.
Every party sends us its own tape, separately, so nothing routes through anyone else. We cross-check every feed and report the same findings back to everyone, every month.
We find the same loan across every funder.
Loan IDs can change, so we never match on them. Every loan instead carries a ROSA Signature, read from the borrower, the property and the debt as fixed at origination. Two funders holding the same signature are funding the same loan. Hiding an overlap would mean inventing all three and keeping the invention consistent on every tape, every month.
And a hidden funder rarely stays hidden.
Matching only covers the funders we know about, so we also keep the registry of who funds whom. A funder weighing a new line can ask us how many others already sit behind that originator, and a line left off the registry tends to surface.
- Funder A on file
- Funder B on file
- Funder C on file
- Funder D surfaced
One file a month. That's the whole ask.
ROSA is a data-integrity check, not an audit. You send the tape you already make each month. Everything else is our job.
- The full set of funders behind each originator's book.
- Each party's standard data tape, sent to us separately, exactly as it is produced.
- System access
- Bank accounts
- Integration
- Reformatting
- Software to install
- An onboarding project
Please don't tidy the tape before sending it. Untouched data is better evidence.
ROSA never needs to know who anyone is.
The check needs no names, no full dates of birth and no full addresses. A loan's signature is read from pseudonymised facts fixed at origination, and the check is designed so that we cannot identify any borrower.
You don't have to take this on trust. The tapes we receive carry none of those details in the first place.
Graded findings, plainly put.
Each party receives its own report every month, built from the same findings and the same evidence.
- CleanEvery check on your line clear.
- Early warningAn overlap caught in the pipeline, while there is still time to settle which funder the loan belongs to.
- EscalationAn overlap at completion, raised to every contracted party at once with the evidence attached.
This specimen shows the common case: a green banner, every check on your line clear, with a notice that a finding is open elsewhere on the book. Every report carries its own id, the engine version and a SHA-256 hash of the tapes behind it. All parties and data are synthetic. View the full specimen report.
Everyone submits
Each party sends its month-end tape, separately, within five working days.
We reconcile
Each loan's signature is cross-checked across every feed, pipeline and completed alike.
Everyone hears back
One graded report per party, in its own private folder, within three working days.
Findings carry over from month to month as new, persisting, escalated or resolved. A missing feed holds a finding open.
We're the fire alarm, not the fire brigade.
ROSA grades. The parties adjudicate.
The case each side can make.
Almost nobody signs ROSA off alone. A funder takes it to a credit committee. An originator proposes it to its funders.
Independent verification, and first sight.
Confidence that the loans you fund are not pledged elsewhere, and the first look at any that are. Every party receives the same evidence at the same time, so no one can commission, suppress or preview a result.
Weighing a new line? Ask us how many funders already sit behind that originator. A signed registry extract arrives within a business day: counts, line types and dates, never other funders' names.
Your word, independently checked.
"We don't double-pledge" becomes something you can show rather than say, checked every month by a party with no stake in any loan's outcome.
Your funders get the stringency their boards ask for, and your team sends the tape it already produces, once a month. Gen H and Landbay do exactly this today.
ROSA is built by people who have operated non-bank lenders and answered to their funders. We know these tapes first-hand, and we know where they go wrong.
See both sides
of your book.
If you fund a non-bank originator, or you are one, a short conversation is the fastest way to see how ROSA fits.
Your data, legal and risk teams will have questions. The FAQ answers the common ones before your first call.
Commercials on request.