Tape Cracking and Comparison - Initial Seller Data to Post DD TPR Data

Learn how to normalize loan data using tape crackers, load it into a standard BI format tape, and run a macro to compare seller data against post-TPR files.

May 28, 2026 By Eddy Kup

This guide explains how to format and load new loan data into a standard BI format tape and run a macro to compare the initial seller data against post-Third-Party Review (TPR) data. Completing this process ensures that all loan attributes are accurately tracked and any discrepancies are highlighted before activation.

This workflow is intended for capital markets or data analysts responsible for boarding new loans and reconciling pre-close and post-close loan data. It should be performed whenever a new loan tape is received from a seller or warehouse lender.

This process is split into three main phases: normalizing the seller tape, normalizing the TPR (Third-Party Review) tape, and running the comparison macro.

Phase 1: Format the Seller Tape

Step #1: Open the weekly flow BI Loader file for your specific seller (e.g., LenderMac). — Open the weekly flow BI Loader file for your specific seller (e.g., LenderMac).

Step #2: Click the Data Input tab to view the normalized tape structure. — Click the **Data Input** tab to view the normalized tape structure.

Copy the raw data from the seller's MLS tape and paste it into the Data Input tab.

Always double-check that your columns align properly before proceeding.

Type =if(B16=B1,0,1) and press Enter to quickly verify column alignment across the dataset.

Press Ctrl + V to paste the normalized data values into your master bid tape.

Step #5: Click the filter dropdown on the Seller column. — Click the filter dropdown on the **Seller** column.

Type the name of the seller into the search box.

Step #7: Click OK to filter the tape and ensure no undefined errors passed through. — Click OK to filter the tape and ensure no undefined errors passed through.

Phase 2: Format the TPR Tape

Next, process the post-diligence data (often in ASF format) from the warehouse lender.

Step #8: Navigate to the InvestorPoolFiles folder. — Navigate to the **InvestorPoolFiles** folder.

Step #9: Double-click the Eddy Tools directory. — Double-click the **Eddy Tools** directory.

Step #10: Double-click the BI Format Tape Crackers folder. — Double-click the **BI Format Tape Crackers** folder.

Step #11: Double-click the Lender MLS folder to locate the specific tape crackers. — Double-click the **Lender MLS** folder to locate the specific tape crackers.

Step #12: Open the applicable MLS tape cracker file (e.g., Nomura MLS). — Open the applicable MLS tape cracker file (e.g., Nomura MLS).

Paste the TPR data into the file, verify the columns match exactly as you did for the seller tape, and clear out any extraneous rows from previous runs.

Phase 3: Compare Seller Data to TPR Data

With both tapes standardized, you can run the comparison macro.

Step #13: Double-click the Comparison Macro folder. — Double-click the **Comparison Macro** folder.

Step #14: Open the specific Comparison Macro file for your seller. — Open the specific Comparison Macro file for your seller.

Paste the normalized seller data into the BI tab and the normalized TPR data into the TPR tab within the macro workbook.

Step #15: Click the Run comparison and generate master summary button. — Click the **Run comparison and generate master summary** button.

Step #16: Select the columns you want to compare and click OK. You can choose "Select All" to compare the entire dataset. — Select the columns you want to compare and click OK. You can choose "Select All" to compare the entire dataset.

Step #17: Click OK on the success prompt once the macro finishes processing. — Click OK on the success prompt once the macro finishes processing.

The macro generates a Master Summary tab. This tab provides a clear inventory of all differences between the pre-close seller tape and post-TPR tape (such as property types or program flags). Review these discrepancies and update your final BI format tape accordingly.

Q: What happens if data from the seller tape is not defined in the tape cracker?

A: If the data is not mapped in the tape cracker's column references, you will get an error when loading it. You must ensure the seller format matches the expected template.

Q: Which fields should I select to compare?

A: You can select all fields. The macro is highly efficient, though in practice you may choose to ignore fields like current loan amount, which are expected to change over time.

Q: What if a value is blank in the TPR tape but exists in the seller tape?

A: The comparison process will highlight it, but you typically do not overwrite existing seller data with a blank value from the TPR tape.

Term	Definition
Tape Cracker	A customized spreadsheet or tool that normalizes repetitive and varied MLS data formats into a standardized structure.
TPR	Third-Party Review; refers to the post-diligence data verified by an external party before loan activation.
ASF	American Securitization Floor; a standard data format commonly required by warehouse lenders.
BI Tape	Business Intelligence tape; the standardized format used internally to track loan portfolios.