Comparison
MyLoanBook vs LoanCheckr
LoanCheckr approaches trail book management from the client's bank data: with consent under the Consumer Data Right it sees the client's loan directly and alerts the broker to events. MyLoanBook approaches it from the broker's commission statement: it sees what the lender actually paid, month by month, and works out what left, what is at risk and what to do. The two see different halves of the same loan; LoanCheckr is stronger on live client-side data, MyLoanBook on the income side and the retention workflow.
| Capability | MyLoanBook | LoanCheckr | Basis |
|---|---|---|---|
| Client loan data via open banking (CDR) | No | Yes | LoanCheckr's core feature. MyLoanBook does not connect to client bank data. |
| Trail income from the commission statement | Yes | Partial | MyLoanBook reads the RCTI directly. LoanCheckr's public material centres on CDR data. |
| Lost and gained trail, month on month | Yes | Partial | MyLoanBook compares statements; LoanCheckr infers changes from client data. |
| Clawback window tracking with exposure | Yes | Partial | MyLoanBook derives it from settlement dates in the statement. |
| Event alerts (settlement, review, expiry) | Yes | Yes | Both alert on key client events from different data sources. |
| Repricing board with outcomes | Yes | Partial | Not a headline LoanCheckr feature at the time of review. |
| Book valuation | Yes | No | Not described in LoanCheckr's public feature list at the time of review. |
| Requires client consent to set up | No | Yes | CDR data needs each client's consent before a loan appears; a commission file covers the whole book from the first upload with no client action. |
| Run-off measured from actual trail paid | Yes | Partial | MyLoanBook compares trail lines month to month; a client-data tool sees the loan close but not the commission consequence. |
Choose MyLoanBook if
- You want to start from the statement you already have, with no client consent step.
- Income, run-off, clawback exposure and valuation are the numbers you care about.
- You want the retention workflow built around what the file shows.
Choose LoanCheckr if
- Live client-side loan data is more valuable to you than commission-side data.
- Your clients are comfortable granting open-banking consent and you want event alerts from their accounts.
- You already reconcile commission elsewhere.
Frequently asked questions
Which data source is more accurate for trail?
The commission statement, because it is what the lender paid. Client bank data shows the loan but not the commission, the split or the clawback.
Will MyLoanBook add open-banking data?
It is not on the current roadmap. The commission file already covers the income side; client-side data is a different product decision.
How long does setup take with each?
MyLoanBook shows your first analysis minutes after you upload a commission file. A consent-based tool needs each client to authorise data sharing before their loan appears, so coverage builds over weeks as clients respond.
Which is better for valuing the book?
The commission-file approach, because a valuation is a multiple of the trail you actually receive after the split. Client-side data cannot see the split or the arrears treatment that a buyer will ask about.
Related
Last reviewed 05/09/2026 · Verified against lender material 05/09/2026
Sources: LoanCheckr website (accessed 05/09/2026)