Automate Spreading
Rent rolls, operating statements, and appraisals — structured output with a full source trail in minutes, not hours. Every number traceable to the document it came from.
What makes property document spreading the biggest time drain in underwriting
The information is already in the documents. The problem is getting it out — consistently, accurately, fast enough to matter.
Open Excel. Copy tenant names. Enter lease expiration dates. Calculate rollover percentages by year. Flag concentration. Check for co-tenancy clauses. Every deal. Every analyst. Every time. One typo changes the risk picture entirely.
"By the time I finish spreading the rent roll, I've lost half a day on a deal that might not get approved."
Two underwriters on the same property reach different normalized NOI figures. One adds back the management fee. One doesn't. One catches the below-market related-party lease. One misses it. The inconsistency creates credit committee friction and audit exposure.
"We've had examiners ask why the same property was underwritten differently six months apart."
The cap rate, the comparable sales, the vacancy assumptions — it's all in the appraisal report. But getting it out means reading 80 pages and copying numbers by hand. Every deal. Every time.
"I spend 45 minutes on every appraisal just finding the three numbers the credit officer is going to ask about."
Every document read, structured, and source-cited in minutes
Upload the document. Get structured output with every number linked back to its source line — consistent across every deal, every analyst, every time.
Upload the rent roll — PDF or Excel. Get a rollover schedule by year, tenant concentration percentages, and the DSCR impact of each major lease expiration. The risk picture, without the spreadsheet work.
Operating statement uploaded and read automatically. Every income and expense line extracted. Adjustments applied with the same methodology on every deal — and every adjustment documented with its source line. Examiners can trace every number.
Cap rate, comparable sales, vacancy assumptions, and market rental rates pulled directly from the appraisal PDF. No manual reading. No re-keying. The numbers the credit officer needs, available before you open the file.
The difference on every deal
- 2–3 hours per deal spreading rent rolls and operating statements by hand
- NOI normalized differently depending on who's working the deal — no consistency
- Appraisal data re-keyed from 80-page PDFs — 45 minutes per appraisal
- No audit trail — examiner asks "where did this number come from?"
- One typo in the rent roll changes the rollover analysis and the DSCR
- Upload the rent roll — rollover schedule and concentration in under 5 minutes
- NOI normalized with the same methodology on every deal, every analyst
- Cap rates, comps, and vacancy assumptions extracted directly from the appraisal PDF
- Every number source-cited — examiner can trace it to the document line
- Consistent output regardless of who uploads the document