In the case of Lend by Hodl Hodl, the lender controls one key, the borrower controls a second key, and Hodl Hodl controls the third key to be used only if a dispute arise between lender and borrower.
If you need more information please send your question by email to support@hodlhodl.com
We will be happy to help you. 

 Ah OK so in this case @hodlhodl is not a lending service but a P2P lending platform. Interesting if will look into it  

 Any doubt, we're here to help.