# EDGAR Filing Document

**Accession Number:** 0001816839
**File Stem:** 0001193125-25-163207
**Filing Date:** 2025-7
**Character Count:** 17911
**Document Hash:** d8dc55ddb74eccdc7c31eaf5a3e135a0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-163207.hdr.sgml**: 20250723

**ACCESSION NUMBER**: 0001193125-25-163207

**CONFORMED SUBMISSION TYPE**: ABS-15G

**PUBLIC DOCUMENT COUNT**: 6

**CONFORMED PERIOD OF REPORT**: 20250723

**ITEM INFORMATION**: Findings and Conclusions of the Third Party Due Diligence Provider Obtained by the Issuer

**FILED AS OF DATE**: 20250723

**DATE AS OF CHANGE**: 20250723

**ABS RULE**: RULE-15GA2

**REGISTERED ENTITY**: N

**ABS ASSET CLASS**: Other

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BHG Securitization Funding LLC
- **CENTRAL INDEX KEY:** 0001816839

**ORGANIZATION NAME:**
- **EIN:** 851525098
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-05135
- **FILM NUMBER:** 251142377

**BUSINESS ADDRESS:**
- **STREET 1:** 201 SOLAR STREET
- **CITY:** SYRACUSE
- **STATE:** NY
- **ZIP:** 13204
- **BUSINESS PHONE:** 315-671-4107

**MAIL ADDRESS:**
- **STREET 1:** 201 SOLAR STREET
- **CITY:** SYRACUSE
- **STATE:** NY
- **ZIP:** 13204
**DEPOSITOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BHG Securitization Funding LLC
- **CENTRAL INDEX KEY:** 0001816839

**ORGANIZATION NAME:**
- **EIN:** 851525098
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act

**BUSINESS ADDRESS:**
- **STREET 1:** 201 SOLAR STREET
- **CITY:** SYRACUSE
- **STATE:** NY
- **ZIP:** 13204
- **BUSINESS PHONE:** 315-671-4107

**MAIL ADDRESS:**
- **STREET 1:** 201 SOLAR STREET
- **CITY:** SYRACUSE
- **STATE:** NY
- **ZIP:** 13204
**SECURITIZER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BHG Securitization Funding LLC
- **CENTRAL INDEX KEY:** 0001816839

**ORGANIZATION NAME:**
- **EIN:** 851525098
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-05135

**BUSINESS ADDRESS:**
- **STREET 1:** 201 SOLAR STREET
- **CITY:** SYRACUSE
- **STATE:** NY
- **ZIP:** 13204
- **BUSINESS PHONE:** 315-671-4107

**MAIL ADDRESS:**
- **STREET 1:** 201 SOLAR STREET
- **CITY:** SYRACUSE
- **STATE:** NY
- **ZIP:** 13204

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

**FORM ABS-15G** 

**ASSET-BACKED SECURITIZER** 

**REPORT PURSUANT TO SECTION 15G OF** 

**THE SECURITIES EXCHANGE ACT OF 1934** 

**Check the appropriate box to indicate the filing obligation to which this form is intended to satisfy:** 

☐ **Rule 15Ga-1(c)(1) under the Exchange Act (17 CFR 240.15Ga-1(c)(1)) for the reporting period to** 

☐ **Rule 15Ga-1(c)(2)(i) under the Exchange Act (17 CFR 240.15Ga-1(c)(2)(i)) for the quarterly reporting period to** 

☐ **Rule 15Ga-1(c)(2)(ii) under the Exchange Act (17 CFR 240.15Ga-1(c)(2)(ii)) for the annual reporting period to** 

☒ **Rule 15Ga-2 under the Exchange Act (17 CFR 240.15Ga-2)** 

## BHG Securitization Trust 2025-2CON
**(Exact name of Issuer as specified in its charter)** 

**Central Index Key Number of depositor: 0001816839** 

**Central Index Key Number of issuing entity (if applicable): N/A** 

**Central Index Key Number of underwriter (if applicable): N/A** 

**Daniel McSherry, 315-671-4107** 

**Name and telephone number, including area code, of the person** 

**to contact in connection with this filing** 

Indicate by check mark whether the securitizer has no activity to report for the initial period pursuant to Rule 15Ga-1(c)(1) ☐

Indicate by check mark whether the securitizer has no activity to report for the quarterly period pursuant to Rule 15Ga-1(c)(2)(i) ☐

Indicate by check mark whether the securitizer has no activity to report for the annual period pursuant to Rule 15Ga-1(c)(2)(ii) ☐

------

**INFORMATION TO BE INCLUDED IN THE REPORT** 

**PART I: REPRESENTATION AND WARRANTY INFORMATION** 

**N/A** 

**PART II: FINDINGS AND CONCLUSIONS OF THIRD-PARTY DUE DILIGENCE REPORTS:** 

**Item 2.01 Findings and Conclusions of a Third Party Due Diligence Report Obtained by the Issuer** 

The disclosures required by Rule 15Ga-2 (17 CFR 240.15Ga-2) are attached as Exhibit 99.1 to this Form ABS-15G.

------

**SIGNATURES** 

Pursuant to the requirements of the Securities Exchange Act of 1934, the reporting entity has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
|  BHG Securitization Funding LLC<br> (Depositor) | BHG Securitization Funding LLC<br> (Depositor) |
| By: | /s/ Daniel McSherry |
|  | Name: Daniel McSherry |
|  | Title: Treasurer |

---

Date: July 23, 2025

------

**EXHIBIT INDEX** 

Exhibit 99.1: Independent Accountants' Report on Applying Agreed-Upon Procedures, dated July 23, 2025.

## Exhibit 99.1

**Exhibit 99.1** 

---

| | |
|:---|:---|
| ![LOGO](g72125g74m74.jpg) | ![LOGO](g72125g21j92.jpg) |

---

**Independent Accountants' Agreed-Upon Procedures Report** 

Bankers Healthcare Group, LLC (the "Company")

Truist Securities, Inc. (the "Structuring Agent")

Citigroup Global Markets Inc.

Goldman Sachs & Co. LLC

Capital One Securities, Inc.

BMO Capital Markets Corp.

ATLAS SP Securities, a division of Apollo Global Securities, LLC

Atlas SP Partners, L.P.

Regions Securities LLC

FHN Financial Securities Corp.

(together, the "Specified Parties")

Re: BHG Securitization Trust 2025-2CON – Data File Procedures

We have performed the procedures described below on the specified attributes in an electronic data file entitled "BHG ABS 2025-2CON Hypo Tape 06132025v3.xlsx" (the "Data File") provided by the Company on June 13, 2025, containing information on 2,333 unsecured consumer loans (the "Loans") as of June 12, 2025, which we were informed are intended to be included as collateral in the offering by BHG Securitization Trust 2025-2CON. The Company is responsible for the specified attributes identified by the Company in the Data File. 

The Specified Parties have agreed to and acknowledged that the procedures performed are appropriate to meet their intended purpose of assisting specified parties in evaluating the accuracy of the specified attributes in the Data File. This report may not be suitable for any other purpose. No other parties have agreed to or acknowledged the appropriateness of these procedures for the intended purpose or any other purpose.

The procedures performed may not address all the items of interest to a specified party of this report and may not meet the needs of all specified parties of this report and, as such, specified parties are responsible for determining whether the procedures performed are appropriate for their purposes. We make no representation regarding the appropriateness of the procedures either for the intended purpose or for any other purpose.

Unless otherwise stated, the following definitions have been adopted in presenting our procedures and findings:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The term "compared" means compared to the information shown and found it to be in agreement, unless
otherwise stated. Such compared information was deemed to be in agreement if differences were within the reporting threshold.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The term "recomputed" means recalculated and compared the result to the information shown and found it
to be in agreement, unless otherwise stated. Such recomputed information was deemed to be in agreement if differences were within the reporting threshold.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The term "reporting threshold" means that dollar amounts and percentages were within $1.00 and 0.1%,
respectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The term "Loan Agreement" means the following information provided by the Company: Financing Agreement,
Loan Summary, Cash Flow Calculation, Application for Credit, Credit Report, and/or Verification of Funding.

![LOGO](g72125g70c60.jpg)

------

![LOGO](g72125g24z54.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The term "Loan Documents" means the following information sources provided by the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Loan Agreement

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Promissory Note

The Loan Documents were represented by the Company to be a copy of the original Loan Documents, and/or electronic records contained within the Company's servicing system. We make no representation regarding the validity or accuracy of these documents, the execution of the Loan Documents by the signor, or the electronic records contained within the Company's servicing system.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The term "Company's Asset System File" means an electronic data file entitled "BHG ABS
2025-2CON Asset System File 06172025.xlsx" provided by the Company on June 17, 2025, containing: LoanType, RiskGrade, DTI, Income, FICO, APR, yearsinindustry, Industry, Specialty, AcquisitionChannel, PastDueDays, Balance, RepeatBorrower,
DeferralEndDate, FundDate, and TermRemaining for the Selected Loans (defined below) from the Company's asset system of record.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The term "Provided Information" means the Loan Documents and Company's Asset System File.

The procedures we were instructed by the Company to perform, and the associated findings are as follows:

A. We randomly selected a sample of 150 Loans from the Data File (the "Selected Loans"). A listing of
the Selected Loans is attached hereto as Exhibit A. For purposes of this procedure, the Company did not inform us of the basis they used to determine the number of Loans we were instructed to randomly select from the Data File.<sup></sup>

B. For each Selected Loan, we compared the specified attributes in the Data File listed below to or using the
corresponding information included in the Provided Information. The Specified Parties indicated that the absence of any of the information in the Provided Information or the inability to agree the indicated information from the Data File to the
Provided Information for each of the attributes identified constituted an exception. The Provided Information is listed in the order of priority.

---

| | |
|:---|:---|
| **Attribute** | **Provided Information** |
| ApplicationNum | Loan Agreement, Promissory Note |
| LoanType | Loan Agreement, Promissory Note, Company's Asset System File |
| TotalFinanceAmount | Loan Agreement, Promissory Note |
| Term | Loan Agreement, Promissory Note |
| Rate | Loan Agreement, Promissory Note |
| Payment | Loan Agreement, Promissory Note |
| FirstPaymentDate | Loan Agreement, Promissory Note |
| RiskGrade | Company's Asset System File |
| DTI | Loan Agreement, Promissory Note, Company's Asset System File |

---

------

![LOGO](g72125g24z54.jpg)

---

| | |
|:---|:---|
| **Attribute** | **Provided Information** |
| guarantorstatecode | Loan Agreement, Promissory Note |
| Income | Loan Agreement, Promissory Note, Company's Asset System File |
| FICO | Loan Agreement, Promissory Note, Company's Asset System File |
| APR | Loan Agreement, Promissory Note, Company's Asset System File |
| yearsinindustry | Company's Asset System File |
| Industry | Company's Asset System File |
| Specialty | Company's Asset System File |
| AcquisitionChannel | Company's Asset System File |
| PastDueDays | Company's Asset System File |
| Balance | Company's Asset System File |
| RepeatBorrower | Company's Asset System File |
| DeferralEndDate | Company's Asset System File |
| FundDate | Company's Asset System File |
| TermRemaining | Company's Asset System File |

---

We found such information to be in agreement without exception.

We were engaged by the Company to perform this agreed-upon procedures engagement and conducted our engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants, which involves us performing the specific procedures agreed to and acknowledged above and reporting on findings based on performing those procedures. We were not engaged to, and did not, conduct an examination or review, the objective of which would be the expression of an opinion or conclusion, respectively, on the specified attributes in the Data File. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported.

We are required to be independent of the Company and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement.

The procedures performed were applied based on the information included in the Data File and Provided Information, without verification or evaluation of such information by us; therefore, we express no opinion or any other form of assurance regarding (i) the reasonableness of the information provided to us by the Company, (ii) the physical existence of the Loans, (iii) the reliability or accuracy of the Provided Information which was used in our procedures, or (iv) matters of legal interpretation.

------

![LOGO](g72125g24z54.jpg)

The procedures performed were not intended to address, nor did they address: (i) the conformity of the origination of the Loans to stated underwriting or credit extension guidelines, standards, criteria or other requirements, (ii) the value of collateral securing any such Loans being securitized, (iii) the compliance of the originator of the Loans with federal, state, and local laws and regulations, or (iv) any other factor or characteristic of the Loans that would be material to the likelihood that the issuer of the notes will pay interest and principal in accordance with applicable terms and conditions. The procedures performed were not intended to satisfy any criteria for due diligence published by the nationally recognized statistical rating organizations ("NRSROs").

The terms of our engagement are such that we have no responsibility to update this report because of events and circumstances that may subsequently occur.

This report is intended solely for the information and use of the Specified Parties. It is not intended to be and should not be used by any other person or entity, including investors or the NRSROs, who are not identified in the report as the Specified Parties but may have access to this report as required by law or regulation.

 /s/ KPMG LLP<br>

Irvine, California

July 23, 2025

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**Exhibit A** 

**The Selected Loans** 

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Selected**<br> **Loan**<br> **Number** | **Loan**<br> **Application**<br> **Number** | **Selected**<br> **Loan**<br> **Number** | **Loan**<br> **Application**<br> **Number** | **Selected**<br> **Loan**<br> **Number** | **Loan**<br> **Application**<br> **Number** |
| 1 | xxx70470 | 31 | xxx90795 | 61 | xxx95759 |
| 2 | xxx75597 | 32 | xxx91528 | 62 | xxx98138 |
| 3 | xxx75386 | 33 | xxx01408 | 63 | xxx64496 |
| 4 | xxx69829 | 34 | xxx03233 | 64 | xxx80973 |
| 5 | xxx75123 | 35 | xxx05090 | 65 | xxx75126 |
| 6 | xxx03708 | 36 | xxx08405 | 66 | xxx91442 |
| 7 | xxx75415 | 37 | xxx10784 | 67 | xxx96509 |
| 8 | xxx98078 | 38 | xxx87021 | 68 | xxx91095 |
| 9 | xxx76964 | 39 | xxx79121 | 69 | xxx09221 |
| 10 | xxx69477 | 40 | xxx79635 | 70 | xxx97858 |
| 11 | xxx97449 | 41 | xxx88023 | 71 | xxx92938 |
| 12 | xxx78423 | 42 | xxx91763 | 72 | xxx03370 |
| 13 | xxx86754 | 43 | xxx00457 | 73 | xxx98519 |
| 14 | xxx87983 | 44 | xxx02205 | 74 | xxx66034 |
| 15 | xxx93463 | 45 | xxx02516 | 75 | xxx75576 |
| 16 | xxx93891 | 46 | xxx90128 | 76 | xxx74411 |
| 17 | xxx01844 | 47 | xxx94845 | 77 | xxx52318 |
| 18 | xxx04589 | 48 | xxx05512 | 78 | xxx86025 |
| 19 | xxx09433 | 49 | xxx06071 | 79 | xxx68319 |
| 20 | xxx12953 | 50 | xxx08663 | 80 | xxx94532 |
| 21 | xxx76903 | 51 | xxx74495 | 81 | xxx04316 |
| 22 | xxx82387 | 52 | xxx86756 | 82 | xxx81922 |
| 23 | xxx93144 | 53 | xxx93990 | 83 | xxx72613 |
| 24 | xxx04442 | 54 | xxx02835 | 84 | xxx98085 |
| 25 | xxx04932 | 55 | xxx04072 | 85 | xxx73030 |
| 26 | xxx08537 | 56 | xxx04694 | 86 | xxx06133 |
| 27 | xxx76700 | 57 | xxx06184 | 87 | xxx98945 |
| 28 | xxx78158 | 58 | xxx09892 | 88 | xxx95668 |
| 29 | xxx83721 | 59 | xxx93010 | 89 | xxx88318 |
| 30 | xxx89901 | 60 | xxx93585 | 90 | xxx04125 |

---

------

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| | | | |
|:---|:---|:---|:---|
| **Selected**<br> **Loan**<br> **Number** | **Loan Application**<br> **Number** | **Selected**<br> **Loan**<br> **Number** | **Loan Application**<br> **Number** |
| 91 | xxx09559 | 121 | xxx00305 |
| 92 | xxx76524 | 122 | xxx07349 |
| 93 | xxx89233 | 123 | xxx72378 |
| 94 | xxx00658 | 124 | xxx83560 |
| 95 | xxx01654 | 125 | xxx89511 |
| 96 | xxx51067 | 126 | xxx71961 |
| 97 | xxx91440 | 127 | xxx74617 |
| 98 | xxx71417 | 128 | xxx80916 |
| 99 | xxx77236 | 129 | xxx89095 |
| 100 | xxx78056 | 130 | xxx89434 |
| 101 | xxx61420 | 131 | xxx94028 |
| 102 | xxx71264 | 132 | xxx94863 |
| 103 | xxx74368 | 133 | xxx01230 |
| 104 | xxx74552 | 134 | xxx02097 |
| 105 | xxx74612 | 135 | xxx03615 |
| 106 | xxx78269 | 136 | xxx03914 |
| 107 | xxx78659 | 137 | xxx05758 |
| 108 | xxx80608 | 138 | xxx89595 |
| 109 | xxx83344 | 139 | xxx05863 |
| 110 | xxx85594 | 140 | xxx07840 |
| 111 | xxx92498 | 141 | xxx66916 |
| 112 | xxx93513 | 142 | xxx71841 |
| 113 | xxx00299 | 143 | xxx75487 |
| 114 | xxx00590 | 144 | xxx78594 |
| 115 | xxx06095 | 145 | xxx81446 |
| 116 | xxx72858 | 146 | xxx89575 |
| 117 | xxx77779 | 147 | xxx97131 |
| 118 | xxx84742 | 148 | xxx99002 |
| 119 | xxx91013 | 149 | xxx00513 |
| 120 | xxx92386 | 150 | xxx09346 |

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