From deal data to
COMMERCIAL REAL ESTATE UNDERWRITING
From deal data to
credit memo in minutes —
not weeks.
AI generates a fully structured, policy-compliant CRE credit memo from your deal documents — ratios computed, risks flagged, narratives written. Every number traces back to its source.
1.45x
DSCR ✓
Min 1.20x
64%
LTV ✓
Max 75%
0.44yr
WALT ✗
Target ≥2yr
9.2%
Debt Yield ✓
Min 8.0%
71%
Breakeven ✓
Max 85%
6.8%
Cap Rate ~
6.5–7.2%
01Executive Summary
04Financial Analysis
07Risk Assessment
Automated Underwriting Platform
It collects and classifies files, spreads 1040s, 1065s, 1120s, and 1120-S returns, traces K-1 flows across related entities, runs policy checks, and assembles a source-cited memo an underwriter can actually defend — end to end, in minutes instead of weeks.
2–4 hrs
Review time per deal (down from 30–40 hrs)
3–5×
More deals closed without adding headcount
Days
To deploy — not 6–18 months like legacy LOS
100%
Source-traced figures — every number cites its page
Intelligent Risk Analysis
Score borrower risk across credit, collateral, and market factors. AI reads financial
statement footnotes — flagging contingent liabilities, related-party transactions, and
cross-period discrepancies your team would miss in a manual review.
Workflow Automation
Route deals through configurable review stages with decision authority coded into the
platform — not just documented in a policy binder. Every override is logged with user,
reason, and timestamp, making the entire lifecycle reconstructable on demand.
Faster Approvals
Reduce analyst time per deal from 30–40 hours to 2–4 hours of focused review. The
platform handles document intake, spreading, global cash flow, and memo assembly —
your team approves, not re-creates.
Examiner-Ready Compliance
Policy guardrails are product-enforced, not just documented. Every figure traces back
to its source page, every flag dismissal is logged, and the full decision lifecycle is
queryable in real time — built to SR 11-7 and OCC Bulletin 2025-26 standards.
The Way Most Banks Still Do It
- Analysts re-key figures from PDFs into Excel — for every single deal
- Memos look different depending on who wrote them that week
- Policy guardrails live in a three-ring binder nobody reads during crunch time
- Footnotes and related-party transactions get skimmed or missed entirely
- New LOS technology takes 6–18 months to deploy and costs seven figures
- Examiners ask for the decision trail and teams spend days reconstructing it
→
What AI-Native Underwriting Delivers
- Every figure is extracted, computed, and cited automatically — no re-keying
- Consistent, policy-aligned credit packages on every deal, every time
- Guardrails are coded into the workflow — they apply whether or not someone remembers
- AI reads every footnote, flags contingent liabilities and discrepancies proactively
- Deploy as an overlay in days — no LOS migration, no disruption to existing systems
- The full decision lifecycle is queryable in real time, not reconstructed after the fact
AI Document Collection
A typical multi-entity commercial deal arrives as 300–800 pages across dozens of files. Our intake layer sorts, labels, and validates every one of them — so your analyst opens a complete, organized package, not a chaotic inbox of attachments.
What Your Borrowers Experience
- A purpose-built portal with a checklist that knows exactly which documents their loan type needs
- Real-time status — they see what's received, what's still needed, and what's been reviewed
- Targeted follow-up reminders instead of vague "we need more documents" emails
- No more emailing 400-page bundles to a generic inbox and hoping someone sorts them
What Your Analysts Get Back
- A complete, classified, and validated package — not a folder full of unlabeled PDFs
- Every tax return, rent roll, and entity doc already identified and routed to spreading
- Zero time spent chasing borrowers — the system does it automatically with full audit records
- 1–2 full analyst days reclaimed per deal, redirected to actual credit analysis
Loan-Type Specific Checklists
Borrowers receive a deal-specific request list — not a generic form. CRE deals prompt
for rent rolls and operating statements; SBA deals surface forms 1919, 912, and 413;
C&I deals request entity docs and personal financial statements automatically.
AI-Powered Classification
Every uploaded file is identified and routed automatically — Form 1040 (Sch. C, E & F),
1065 partnership returns, 1120 / 1120-S corporate returns, rent rolls, operating statements,
and entity docs — no manual tagging, no misplaced files.
Gap Detection & Smart Alerts
The system cross-checks what arrived against what's required for that loan type, then
sends targeted reminders — to borrowers, brokers, or your own team. Deals don't stall
because a K-1 schedule or year-end statement slipped through the cracks.
1
Borrower Uploads Documents
→
2
AI Classifies & Validates
→
3
Gaps Flagged & Resolved
→
4
Package Ready for Review
Recognized document types:
Financial Spreading Software
Manually spreading a single Form 1040 takes 20–30 minutes. A complex 1065 with continuation sheets can run 60–90 minutes — per entity. Our engine reads 1040s, 1065s, 1120s, and 1120-S returns directly, normalizes every line item, and delivers clean spreads with ratios computed in seconds, not half a workday.
Multi-Form Tax Return Spreading
Reads 1040s (Schedules C, E, F), 1065 partnership returns, 1120 and 1120-S corporate
filings — including continuation sheets and non-standard formats that break generic
OCR tools — and extracts every line item with a source-page citation attached.
K-1 Tracing & Entity Consolidation
K-1 distributions are traced across tiered ownership structures in under 2 minutes —
compared to 90 minutes manually. Intercompany eliminations and double-counting are
handled automatically, so consolidated figures are always clean.
Policy-Aware Ratio Computation
DSCR, NOI, debt yield, and breakeven are computed against your policy thresholds
with add-back treatments applied consistently across deals. Every ratio links
directly to the source figure and page — no more "where did this number come from?"
Spreading Output — Riverfront Mixed-Use
AI Verified
| Line Item | 2022 | 2023 | 2024 |
|---|---|---|---|
| Gross Revenue | $2,140,000 | $2,285,000 | $2,410,000 |
| Vacancy Loss | ($107,000) | ($91,400) | ($72,300) |
| Operating Expenses | ($860,000) | ($890,000) | ($915,000) |
| Net Operating Income | $1,173,000 | $1,303,600 | $1,422,700 |
DSCR
1.48x
Debt Yield
9.1%
Breakeven
68%
Time to Spread
<60 sec
1040 (Sch. C/E/F)
~25 min manual
✓ Seconds with AI
1065 w/ Continuations
~75 min manual
✓ Seconds with AI
1120 / 1120-S
~40 min manual
✓ Seconds with AI
Why AI-Native Spreading Outperforms Generic OCR
— Most OCR tools were built to read clean documents.Tax returns are
not clean documents.
Form 1065s arrive with continuation sheets, amended schedules, and K-1 attachments that span
dozens of pages. 1120-S returns include depreciation recapture tables and officer compensation
disclosures buried in supplemental schedules. Generic OCR tools fail on these — either
dropping lines entirely or misreading figures that carry into your DSCR calculation.
Our AI-native engine was purpose-built for the exact document formats lenders actually receive.
Handles continuation sheets and amended returns without dropping lines
Identifies and applies the correct add-back treatment per your policy
Catches officer compensation, depletion, and non-cash items automatically
Flags discrepancies between tax returns and internally prepared financials
Works across scanned PDFs, digital returns, and third-party CPA packages
Every extracted figure links back to its exact source page — always auditable
AI Credit Memo Generation
Once documents are collected and financials are spread, AI assembles a fully structured, source-cited credit memo — narratives written from actual deal data, policy checks run, risks flagged with supporting evidence. Every figure in the memo links to its source page in the original document, so the underwriter can defend every number in front of an examiner.
1
Source-Cited Narrative Generation
AI drafts the executive summary, borrower overview, and financial narrative from
the actual deal documents — not generic templates. Every statement cites the
source page it was drawn from, so the memo is defensible by design.
2
Policy Checks & Risk Flags
The platform runs your policy thresholds against every computed ratio and flags
exceptions — DSCR shortfalls, WALT concerns, concentration risks — with the
supporting figure and document page cited alongside each flag.
3
Auditable Override & Review
Analysts review a near-complete draft — adjusting narratives and confirming
approvals. Every change is logged with the user, reason, and timestamp. Original
AI outputs are preserved so the full decision lifecycle is always reconstructable.
4
Export-Ready Output
Deliver a formatted, examiner-ready credit memo as a PDF or push it directly
to your loan origination system — no copy-paste required.
1.48x
DSCR ✓
67%
LTV ✓
0.6yr
WALT ✗
9.1%
Debt Yield ✓
70%
Breakeven ✓
6.9%
Cap Rate ✓
01
Executive Summary
03
Financial Analysis
06
Risk Assessment
Export as PDF · Push to LOS
Export Now
What's included in every AI-generated credit memo
All sections. Every deal.
Executive summary with borrower and transaction overview
Global cash flow analysis with entity-level breakdown
Collateral description, valuation, and lien position
DSCR, LTV, debt yield, and breakeven — all source-cited
3-year income and expense trend analysis with commentary
Risk flags with supporting evidence and document citations
Policy exception summary with exception type and severity
Borrower background, ownership structure, and guarantor profile
Strengths, concerns, and recommended mitigants section
Recommended loan structure and conditions of approval
Decision authority matrix showing who approved what and when
Complete override log with user, reason, and timestamp