Send the OM, rent roll, and T-12. Fynch screens the deal against your credit box in under 20 minutes, then builds the model and drafts the credit memo. Every number links to its source page. Your analysts review and sign off.
Free screening memo, same business day. We sign your NDA. Or follow a sample deal first.
Sample screening memo. Select a citation to open the page it came from.
Harborview Apartments
| Test | Deal | Your limit | Result |
|---|---|---|---|
| LTV | 70.1% | Max 75% | Pass |
| DSCR | 1.16x | Min 1.25x | Fail |
| Debt yield | 8.6% | Min 9.0% | Fail |
| Occupancy | 93.5% | Min 90% | Pass |
Proceed to diligence. DSCR binds. Expect a resize to about $13.1M at 1.25x.
Packages arrive faster than a credit team can spread them. Most of an analyst's week goes to re-keying broker numbers instead of judging the deal.
An OM sits unopened for days because nobody had three hours to spread it. By the time someone does, another lender has quoted.
The OM says 96% occupied. The rent roll says 93.5%. Finding that by hand means reading every page of every file.
Numbers are copied from spreadsheets into a Word template, and every copy is a chance for the memo to drift from the source.
Fynch reads the package and the public data around the property, stores each figure with the page it came from, and builds every output from those same reviewed facts. See the full product.
| Fact | Value | Source | Status |
|---|---|---|---|
| T-12 NOI | $1,284,000 | T-12 p.12 | Approved |
| Occupancy | 93.5% | Rent roll | Approved |
| Occupancy in OM | 96.0% | OM p.4 | Conflict |
| As-is value | $21.4M | Appraisal | Approved |
| Immediate repairs | $85,000 | PCR | In review |
Harborview Apartments is a 184-unit multifamily acquisition. The sponsor asks for $15.0M. Here is what Fynch does at each stage and what your analyst sees.
The package comes in through the borrower portal or a direct upload. Fynch classifies each file, parses the OM, rent roll, and T-12, and tracks what is still outstanding.
Your analyst sees a deal file that is already sorted, with missing items listed.
Documents received
| Offering memorandum 42 pages | Parsed |
| Rent roll 184 units | Parsed |
| T-12 operating statement 12 months | Parsed |
| Borrower financials Portal request | Requested |
| Appraisal Third party | Ordered |
Fynch tests the request against your credit box before anyone spreads the deal. Harborview fails on DSCR and debt yield at $15.0M, so it moves forward with a resize expected.
Your analyst sees which test binds and how far each metric sits from your limit.
Request: $15.0M on T-12 NOI
| Test | Deal | Your limit | Result |
|---|---|---|---|
| LTV | 70.1% | Max 75% | Pass |
| DSCR | 1.16x | Min 1.25x | Fail |
| Debt yield | 8.6% | Min 9.0% | Fail |
| Occupancy | 93.5% | Min 90% | Pass |
Pursue with conditions. Proceed to diligence and expect the loan to resize below $15.0M.
Third-party reports and sponsor checks land in the same workspace. Fynch cross-checks them against the package and flags conflicts, like occupancy in the rent roll that does not match the OM.
Your analyst sees each finding with its source, and the conflicts that need a decision.
Harborview Apartments
| Appraisal As-is value $21.4M | Clear |
| Phase I ESA No recognized environmental conditions | Clear |
| Property condition $85,000 immediate repairs | Review |
| Sponsor liquidity $2.1M post-closing, above 10% of loan | Clear |
| Rent roll vs. OM Occupancy 93.5% vs. 96.0% in OM | Conflict |
Fynch builds a full financial model from the deal information: the lender NOI, a multi-year cash flow, debt sizing, and exit. It applies your vacancy floor, reserves, and fee standards, sizes the loan to the limit that binds, and your analyst can edit any assumption.
Your analyst can change any assumption, and every input traces back to its page.
Lender case and sizing
| T-12 NOIT-12 p.12 | 1,284 |
| Vacancy at 7% floor (6.5% in place)Policy | (14) |
| Reserves at $250 per unitPolicy | (46) |
| Management fee to 3% of EGI (2.5% actual)T-12 p.9 | (12) |
| Underwritten NOI | 1,212 |
| Line item | Yr 1 | Yr 2 | Yr 3 | Yr 4 | Yr 5 |
|---|---|---|---|---|---|
| Effective gross income | 2,640 | 2,719 | 2,801 | 2,885 | 2,971 |
| Operating expenses | (1,382) | (1,423) | (1,466) | (1,510) | (1,555) |
| Replacement reserves | (46) | (47) | (49) | (50) | (52) |
| Net operating income | 1,212 | 1,249 | 1,286 | 1,325 | 1,364 |
| Debt service | (970) | (970) | (970) | (970) | (970) |
| Cash flow after debt service | 242 | 279 | 316 | 355 | 394 |
| DSCR | 1.25x | 1.29x | 1.33x | 1.37x | 1.41x |
Fynch drafts the credit memo from approved facts and the model, with every number cited to its source. Open flags carry into risks and mitigants, and your analyst edits the narrative and writes the recommendation.
Your analyst edits the narrative and writes the recommendation. Fynch does not make the credit decision.
Harborview Apartments
Executive summary
The sponsor requests $15.0M to acquire Harborview Apartments. Underwritten NOI of $1,212,0001 supports a loan of $13.1M at a 1.25x DSCR, the binding limit in the credit box2. At the appraised value of $21.4M3, LTV is 61.3% and debt yield is 9.2%. Rent roll occupancy of 93.5% is below the 96.0% stated in the OM4, so the lender case uses the rent roll.
Risks and mitigants
| Risk | Mitigant |
|---|---|
| Occupancy in the rent roll is below the OM | Lender case uses rent roll occupancy of 93.5% and a 7% vacancy floor |
| $85,000 of immediate repairs | Repair holdback at closing, for the analyst to confirm |
| Loan resized $1.9M below the $15.0M request | Sponsor funds the gap with additional equity. Post-closing liquidity of $2.1M stays above the 10% requirement |
| Going-in cap rate of 5.7% is below the 6.25% loan rate | Loan is sized to 1.25x DSCR, which rises to 1.41x by Year 5 at 3% income growth |
| Property taxes may be reassessed after the sale | Flagged for the analyst. The draft carries T-12 taxes until the reassessment is confirmed |
Memo sections
Sample deal. Figures are illustrative and do not describe a real property.
See this on one of your own deals. Send a deal you closed or passed on and we email the screening memo back the same business day, free.
The same analysts cover more of the pipeline, and their time goes to the judgment calls.
Each package is screened against your credit box in under 20 minutes, so good deals stop slipping by because nobody had time to open the OM.
Fynch spreads the package, builds the model, and drafts the memo. Analysts review and decide instead of re-keying numbers.
Diligence, the model, and the memo build from the same reviewed facts as documents arrive. No last-minute reconciling before IC.
A figure can be extracted and matched to its page without being approved. Approval is a person's decision, and every edit is logged for your auditors and model risk team.
T-12 NOI, Harborview
| Step | Done by | Status |
|---|---|---|
| Extracted $1,284,000 from T-12 page 12 | Fynch | Cited |
| Matched to the source line and checked against the OM | Fynch | Verified |
| Reviewed against the page and approved | Your analyst | Approved |
| Carried into the model and the memo | Fynch | Logged |
CRE lenders of every kind: debt funds, bridge lenders, banks, credit unions, life companies, CMBS lenders, and private credit funds. Fynch is built for the credit analysts, underwriters, and heads of origination who screen and size deals and write credit memos.
A screening memo the same business day, at no cost: your credit box tests with pass and fail flags, the loan sized to the limit that binds, a broker vs. T-12 reconciliation, and a page reference for every number. Send a deal you closed or passed on, with your key limits. If you need an NDA first, tell us and we will sign one.
The offering memorandum, rent roll, and T-12 operating statement are enough to screen. Fynch also reads appraisals, Phase I ESAs, property condition reports, financial projections, renovation budgets, guarantor financials, and DSCR and LTV models as they arrive.
A general chatbot gives you a different answer each time and no page references. Fynch extracts the numbers into a fixed CRE debt structure, runs your credit box the same way on every deal, cites every figure to its source page, and keeps a record of every reviewer edit.
Yes. Limits such as max LTV, min DSCR, min debt yield, and occupancy, plus the haircuts you apply to broker income, are set per lender. The memo shows which test binds and how far each metric sits from your limit.
No. Fynch produces analysis for licensed professionals. Your analysts review and edit every output, and final underwriting and approval decisions stay with your institution.
Fynch drafts and your analysts approve. Every extracted figure shows its source page and review status, and every reviewer edit is logged, so your model risk team has an audit trail to test against. If a figure is wrong, the analyst corrects it before it reaches the memo. During vendor review we walk through the data flow and the AI providers that process documents, under NDA.
No. Customer documents, extracted facts, and memos are not used to train foundation models or shared with other customers. Each customer workspace is isolated and encrypted in transit and at rest.
SOC 2 readiness is in process. A security overview, data-flow diagram, and dependency inventory are available under NDA for vendor reviews.
Upstream. Fynch screens and sizes the deal and drafts the memo before it enters your pipeline or modeling tools, so the numbers you carry forward are already reconciled and cited.
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