DISCLOSURE

One assignment, read three different ways.

Each of the three has something they will not show the others, and a system that ignores that will simply not be used by the party with the most to lose.

• The lender's pricing stays theirs

  What they charge one borrower differs from another, and their assessment of the incoming buyer is not something they will expose to the outgoing seller.

• The seller's arrears stay theirs

  A buyer stepping into the position needs the balance and the schedule. They do not need the seller's full payment history.

• The buyer's assessment stays theirs

  What the lender concluded about the buyer is between those two. The seller has no business in it.

• We hold no position

  The assignment belongs to the three of them. Running the infrastructure beneath it does not add a fourth.