[bombcar]

Once you get outside of things that are highly standardized (like home loans to individuals) you quickly find out that no matter how regulated, finance is done on a handshake.

[cs702]

That's true, but only to a point. Due diligence is not uncommon, especially with more traditional forms of credit.

I resorted to the mortgage-lending analogy so others could quickly grok what multi-pledging means.