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Platform

What the platform runs

One engine, one sequence per file. A tape goes in; a priced, documented record comes out, one page per loan, every figure traceable to the tape or to a document in the file. The run is the same whichever side of the table is reading; the reader decides what to do with what comes out.

This is not an appraisal, not a broker price opinion, not an opinion of value, and not accounting, tax, legal or investment advice. The platform makes no decisions. Examples on this site are synthetic; no client loan, scrubbed loan, or public-record address appears here.

An analyst, broker, lender or asset manager who receives a distressed construction or bridge loan tape and must decide what to bid. The record is the bid: a tear sheet per loan, the three tests, the governor, the proposal and cover letter, with backup a capital partner can audit.

Download this page as a two-page PDF — Receiving a tape; no form.

Nine runs. Not a library: the sequence is fixed, and every artifact below exists on the platform today.

  1. 01

    Verify a tear-sheet figure independently

    You give
    The record id, or the hash printed on a shared sheet.
    What runs
    Recompute from the proof object under the policy version it names; compare the hash.
    You get
    Pass or fail on the hash, the recomputed bid, the policy version used.

    Receiving a tape Run it before relying on any figure. It is the one run a reader performs without trusting the platform.

    See a hash on a synthetic loan

  2. 02

    Price a tape before the bid date

    You give
    The seller's tape, mapped once; the data room.
    What runs
    Intake and triage; a column pass by document type; claim, lien and title, cost to complete, market absorption; the disproof; the proof under the policy version in force.
    You get
    Tear sheet per loan (PDF, XLSX), tear-sheet pack with cover, bid analysis with the three tests and the governor per loan, bid proposal and cover letter, a dedicated workspace.

    Receiving a tape Submit the proposal; keep the pack as the backup the capital partner reads.

    What was checked, on a synthetic loan

  3. 03

    Reconstruct the claim on one loan

    You give
    Note, loan agreement, payoff or default notice, servicer statement.
    What runs
    The claim role.
    You get
    Legal balance (principal, accrued, default interest, fees, advances), each component cited to a document and a page; tape-versus-document disagreements flagged.

    Receiving a tape The balance the bid ceiling is computed on; the lesser of tape and document where they differ.

  4. 04

    Check lien position against the title report

    You give
    Title report, deed of trust, loan agreement, any PACE or senior lien record.
    What runs
    The lien and title role; Schedule B parse.
    You get
    Senior encumbrances with recording dates; position stated by the loan documents against position recorded; Schedule B table (PDF, XLSX).

    Receiving a tape A recorded senior lien ahead of a stated first is a fatal finding; the record is held until it is resolved.

    The lien trap on a synthetic loan

  5. 05

    Test cost to complete against the budget

    You give
    Budget and draw history, any consultant estimate, permit status.
    What runs
    The cost-to-complete role.
    You get
    Owner-stated against independent cost to complete, lender residual, the gap, percent complete supported. On the tear sheet.

    Receiving a tape The cost cap. A stalled build is priced on what it takes to finish, not on what was spent.

  6. 06

    Reprice a tape when the bid policy changes

    You give
    Nothing new; a saved policy version.
    What runs
    The repricing memo, automatic on every policy save.
    You get
    Portfolio repricing memo: every loan under the prior and the new policy, one permanent row per save.

    Receiving a tape The audit trail from indicative to final. Every change in the number has a policy version behind it.

  7. 07

    Reconcile a data-room pull against the last one

    You give
    The new zip or directory.
    What runs
    Room diff: manifest with a root hash; added, removed and changed documents by relationship.
    You get
    The diff. It shows what moved between indicative and final.

    Receiving a tape Re-run only the loans whose file changed; the rest of the record stands.

  8. 08

    Hand a counterparty a read-only loan view

    You give
    The loan ids and a password.
    What runs
    An access-portal grant.
    You get
    A link that resolves to the non-pricing field subset only; expiry and revocation on the grant.

    Receiving a tape Share the file view with a capital partner without sharing the bid.

  9. 09

    Draft a counter-proposal from the proof

    You give
    The record, the counterparty's number.
    What runs
    The counter-proposal draft.
    You get
    The counter-proposal document, each figure traced to the same record.

    Receiving a tape Answer a seller's counter from the record, not from a new spreadsheet.

Access is per run, priced by loan count for a specific tape, or unlimited use with named users and support hours for a desk that sees pools regularly. Fees are stated in the agreement only. See Platform Facts for the measured figures a principal has signed.