Key Takeaways
- Define the asset, objective, scope, and decision timeline before outreach.
- Keep data, documentation, ownership, servicing, and material exceptions connected.
- Compare complete economics and execution terms rather than a headline number alone.
- Document responsibilities, transfer controls, and the next review step.
What is a loan tape?
A loan tape is a structured table in which each row represents an account, loan, receivable, claim, or other portfolio unit. Columns describe identity, balances, performance, borrower or obligor characteristics, servicing history, legal status, collateral, documentation, and transaction attributes.
The format may be CSV, XLSX, database extract, or another agreed structure. The file format is less important than consistency, traceability, security, and the ability to reconcile the data to source systems.
Required metadata for every tape
Before reviewing individual fields, record the metadata that explains how the file was produced.
| Metadata item | Definition |
|---|---|
| Portfolio name | Internal name used to identify the transaction or data set. |
| Seller or data owner | Entity responsible for supplying and authorizing the data. |
| Extraction date | Date the file was generated. |
| Cutoff date | Date through which balances, payments, and status are measured. |
| Time zone | Time zone used for transaction and payment timestamps. |
| Currency | Currency used for all monetary fields. |
| Row definition | Explanation of whether each row is an account, loan, borrower, claim, or facility. |
| Version | Controlled version number or file identifier. |
| Source systems | Systems or reports used to create the extract. |
| Reconciliation totals | Record count, principal, current balance, payments, and recoveries tied to source records. |
| Known limitations | Missing fields, estimates, stale values, excluded records, and unresolved exceptions. |
Scroll horizontally to read the full table.
Without this metadata, a buyer may mistake a snapshot for a complete history or compare figures that use different cutoff dates.
Core account and loan identity fields
| Field | Definition | Format or control |
|---|---|---|
seller_account_id |
Unique identifier assigned by the seller or originating system. | Required; never reused; preserve leading zeros. |
source_system_id |
Identifier in the system of record. | Text; map to source system. |
portfolio_id |
Identifier for the transferred portfolio or pool. | Text; consistent across files. |
product_type |
Product or receivable category. | Controlled list, such as installment, mortgage, MCA, medical, auto, or commercial. |
origination_channel |
Channel through which the account originated. | Controlled list or documented text. |
original_creditor |
Entity that originated or first owned the account. | Legal entity name. |
current_creditor |
Entity currently asserting ownership before transfer. | Legal entity name. |
account_open_date |
Date the account or loan was opened. | ISO date: YYYY-MM-DD. |
origination_date |
Date funds were advanced or obligation created. | ISO date; define if different from open date. |
maturity_date |
Contractual maturity date, if applicable. | ISO date or null with reason. |
account_status |
Current operational status. | Controlled values with definitions. |
secured_flag |
Indicates whether the obligation is secured. | Controlled codes for yes, no, unknown, not checked, and not applicable; define mixed collateral treatment. |
Scroll horizontally to read the full table.
Do not use account numbers containing unnecessary personally identifying information as the only identifier. A transaction identifier should be stable while limiting exposure.
Borrower, obligor, and geography fields
Include only information necessary for legitimate diligence and transaction operations. Apply data-minimization, access-control, and privacy requirements to the transaction.
| Field | Definition | Format or control |
|---|---|---|
obligor_type |
Consumer, business, governmental, or other obligor category. | Controlled list. |
state |
State or jurisdiction associated with the account. | Two-letter code or documented jurisdiction format. |
county |
County or equivalent jurisdiction where relevant. | Standardized name or code. |
zip3 |
First three ZIP digits for geographic analysis where appropriate. | Text; do not infer exact address. |
residence_or_business_state |
State tied to the relevant borrower or business. | Document which address is used. |
industry_code |
Industry classification for commercial obligors. | NAICS or another identified standard. |
borrower_count |
Number of obligors attached to the account. | Integer; define joint-account treatment. |
bankruptcy_flag |
Indicates known bankruptcy status. | Defined status codes plus source and verification date; distinguish unknown and not checked. |
Scroll horizontally to read the full table.
A seller should document whether geography reflects borrower residence, business location, collateral location, or another address.
Balance and financial fields
Balance definitions are a frequent source of buyer-seller disputes. Define whether each amount is as of the cutoff date, whether it is contractual or collectible, and whether it includes interest, fees, advances, or other components.
| Field | Definition | Required clarification |
|---|---|---|
original_principal |
Principal advanced or original face amount. | State whether funded or contractual. |
original_balance |
Original amount owed under the agreement. | Define included components. |
principal_balance |
Principal outstanding at cutoff. | Reconcile to source system. |
interest_balance |
Accrued or outstanding interest. | State whether accrued, capitalized, or collectible. |
fee_balance |
Fees or charges recorded at cutoff. | Identify categories and legal treatment. |
current_balance |
Total balance under the seller’s stated calculation. | Provide formula or hierarchy. |
unpaid_principal_balance |
Unpaid principal balance, when used. | Define inclusions and cutoff. |
charge_off_amount |
Amount charged off under the seller’s policy. | Provide charge-off date and policy reference. |
recovery_amount |
Payments or proceeds recovered. | State gross/net treatment and period. |
settlement_amount |
Amount agreed under a settlement. | Include status and payment completion. |
servicing_cost |
Servicing or collection cost associated with the account or pool. | State actual, accrued, or estimated basis. |
Scroll horizontally to read the full table.
Never label a balance “recoverable” without explaining the basis. A recorded balance, contractual balance, collectible balance, and expected recovery are different concepts.
Performance and delinquency fields
Performance fields allow buyers to segment accounts by payment behavior and time since default.
| Field | Definition | Format or control |
|---|---|---|
last_payment_date |
Date of the most recent payment posted. | ISO date; reconcile to payment history. |
last_payment_amount |
Amount of the most recent payment. | Currency; define reversals. |
total_payments_to_date |
Cumulative payments posted through cutoff. | Currency; state gross/net basis. |
days_past_due |
Days past due as of cutoff. | Integer; define calculation. |
delinquency_bucket |
Standard delinquency range. | Controlled list, such as 30, 60, 90, 120+ days. |
default_date |
Date the account entered default under the applicable policy. | ISO date plus definition. |
charge_off_date |
Date the account was charged off. | ISO date plus policy reference. |
recovery_status |
Current recovery or collection status. | Controlled list. |
payment_plan_flag |
Indicates an active payment plan. | Defined status codes plus start date and terms; distinguish unknown from no. |
modification_flag |
Indicates a modification, forbearance, or workout. | Defined status codes plus effective date; distinguish unknown from no. |
Scroll horizontally to read the full table.
If delinquency is calculated differently across products, provide product-specific definitions rather than presenting an apparently comparable number.
Servicing and collection fields
Servicing history helps a buyer understand operational continuity, account treatment, and post-transfer requirements.
| Field | Definition |
|---|---|
current_servicer |
Entity currently servicing or collecting the account. |
prior_servicer |
Prior servicer, if transferred. |
servicing_start_date |
Date the current servicer began servicing. |
servicing_transfer_date |
Date of the most recent servicing transfer. |
collection_status |
Current operational collection category. |
right_party_contact_flag |
Indicates a documented right-party contact where lawfully available. |
contact_attempt_count |
Number of documented contact attempts through cutoff. |
contact_last_date |
Date of last documented contact attempt. |
settlement_status |
No offer, offer, active settlement, completed, broken, or other defined state. |
legal_placement_flag |
Indicates placement with legal counsel or legal recovery channel. |
servicing_fee_rate |
Applicable servicing fee or cost basis. |
servicing_exception_flag |
Indicates a known operational or data exception. |
Scroll horizontally to read the full table.
For consumer debt, servicing and collection operations may be subject to federal and state requirements. Regulation F addresses communications, prohibited conduct, validation information, time-barred debts, disputes, and record retention. The FTC explains that the FDCPA prohibits deceptive or abusive conduct by third-party collectors of consumer debts.
Legal, compliance, and documentation fields
These fields do not determine enforceability by themselves. They indicate matters requiring review and help buyers identify exceptions.
| Field | Definition |
|---|---|
document_available_flag |
Whether required core documentation is available. |
document_completeness_score |
Seller-defined measure of documentation completeness. |
chain_of_title_flag |
Indicates whether ownership or assignment records are available. |
assignment_date |
Date of assignment or transfer, if applicable. |
dispute_flag |
Indicates a known dispute or challenge. |
validation_request_flag |
Indicates a validation request or related response status. |
complaint_flag |
Indicates a complaint record requiring review. |
litigation_flag |
Indicates active or historical litigation. |
judgment_flag |
Indicates a judgment or judgment-related status. |
bankruptcy_status |
Bankruptcy chapter, status, or other defined category. |
time_barred_review_flag |
Indicates whether a statute-of-limitations review is required. |
licensing_review_flag |
Indicates a jurisdictional licensing or registration review. |
data_privacy_classification |
Sensitivity or access classification for the record. |
Scroll horizontally to read the full table.
The seller should provide a field definition and exception report. A blank field is not necessarily “no”; it may mean unknown, not collected, not applicable, or not yet reviewed.
Collateral and security fields
Use these fields for secured or collateral-linked portfolios. The required data depends on the product and jurisdiction.
| Field | Definition |
|---|---|
collateral_type |
Type of collateral securing the obligation. |
collateral_identifier |
Internal identifier for the collateral record. |
original_collateral_value |
Original or stated collateral value with valuation date. |
current_collateral_value |
Current estimated value with methodology and date. |
lien_position |
First, second, subordinate, unknown, or other defined position. |
lien_status |
Current lien or security-interest status. |
title_status |
Title or registration status where relevant. |
possession_status |
Whether collateral is in possession, pending recovery, or unavailable. |
repossession_date |
Date of repossession, if applicable. |
foreclosure_status |
Foreclosure stage, if applicable. |
collateral_document_flag |
Indicates supporting collateral documents are available. |
Scroll horizontally to read the full table.
Do not mix estimated collateral values with verified appraisals without clearly identifying the methodology and date.
Data-quality controls
A buyer-ready tape should pass documented quality checks before release.
| Control | Test |
|---|---|
| Uniqueness | No duplicate account identifiers unless the row definition expressly permits them. |
| Completeness | Critical fields meet the agreed completeness threshold. |
| Validity | Dates, amounts, status codes, and missing-value codes use the agreed formats. |
| Reconciliation | Record counts and balance totals reconcile to the source reports. |
| Referential integrity | Account IDs connect to documents, payment history, and servicing records. |
| Chronology | Dates are consistent with their definitions; investigate exceptions and allow legitimate events such as payments after charge-off. |
| Consistency | Status values agree across the tape, servicing system, and documentation. |
| Version control | Each release has a version, cutoff date, extraction date, and change log. |
| Security | Sensitive data is minimized, protected, and shared through approved channels. |
Scroll horizontally to read the full table.
Create an exception log with the field, affected record count, materiality, remediation status, and responsible owner.
Recommended file package
A complete transaction package may include:
- Master loan tape.
- Loan-tape data dictionary.
- Portfolio summary and segmentation report.
- Reconciliation report.
- Exception and data-quality log.
- Document index and document package.
- Payment and recovery history.
- Servicing summary and servicing agreement information.
- Legal, compliance, dispute, and complaint summary.
- Ownership and assignment documentation.
- Collateral and lien package where applicable.
- Change log and cutoff-date statement.
The package should identify which files are authoritative when two sources appear to conflict.
Common loan-tape mistakes
Using a total balance instead of account-level data
A portfolio total does not show concentration, account age, payment behavior, documentation, or legal exceptions. Buyers need account-level data to test assumptions.
Omitting definitions
The same label can mean different things across systems. Define “current balance,” “charge-off,” “recovery,” “default,” “active,” and “collectible.”
Mixing cutoff dates
A balance as of one date and payments through another date can overstate or understate the portfolio. State the cutoff date for every material metric.
Treating blank as zero
Blank, zero, unknown, not applicable, and not reviewed are different values. Use controlled codes and a legend.
Removing exception accounts without documentation
If accounts are excluded, provide the exclusion rule and aggregate count. Silent removal undermines reconciliation.
Over-sharing sensitive information
Provide the minimum information needed for the stage of diligence. Use confidentiality agreements, secure data rooms, role-based access, and appropriate redaction.
Sources and Further Reading
This page provides general information for institutional and commercial readers. It is not legal, tax, accounting, investment, or transaction-specific advice. Requirements and outcomes depend on the assets, parties, jurisdictions, and agreements. Obtain appropriate professional advice for a proposed transaction.