Compute each tested ratio under the loan's own definitions, trace every input to the statement it came from, and hold the certificate pack for the named officer, who signs and delivers it.
A loan enters the portfolio, and its covenant, reporting and reserve clauses are pulled from the executed documents.
02
A clause is carried forward with its section number quoted, because no two filed agreements number these alike.
Reason
03
A quarter closes, and each tested ratio is computed under the loan's definitions, with each adjustment labelled.
04
A carve-out schedule is read against the property's state: Michigan and Ohio void post-closing solvency triggers.
05
A statement is built on the accounting method the loan names, which is not GAAP by default in every agreement.
Decide
06
A month lands below a sweep threshold, and the consecutive-month count is raised from the first, not the third.
07
A certificate falls due on the date its own clause sets, and the pack routes to the named officer who signs.
Out
08
A pack goes out under that signature, and the clause, the workings and the sign-off stay on the loan record.
09
Execute write actions only inside the approval boundaries agreed during implementation.
→Product statement
The mortgage and title agent works origination; this one works the life of the loan — and a named officer of the borrower signs the certificate and delivers it.
Example workflow
One loan, clause to certificate
AgentHuman
1Reporting date reachedLoan agreement, operating statement, rent roll and reserve statements
2Obligations extractedCovenants, reporting deliverables and defined terms, each with the clause that imposes it
3Covenant computedTested ratios, labelled adjustments, headroom and confidence
4Controls appliedDefinition checks, tie-out checks, calendar and consecutive-month checks and confidence threshold
No human action required
Stages 1 to 4 run unaided, and nothing is certified or delivered at any of them — the agent is computing, and the officer's lane opens at the confidence gate.
5DecisionParts at the confidence threshold
High confidence
Goes to the named officer to sign.
Low confidence
Adds a treasury read first.
Officer sign-off
The pack is held with its workings, its exceptions and the confidence.
Sign · Query · Send to treasury review
Signed — released to deliver▼
6Loan record updatedOnly where write access and approval policy allow it
7Outcome evaluatedRestated calculations, exception outcomes, dates met and post-signature corrections
Queries
Each officer query is counted in the evaluation.
What should not run autonomously
Human approval stays in control
Outside the boundary — human approval required8 items
Certifying that a covenant is met, or that no default exists.
Delivering the pack to the lender or the servicer.
Deciding that an exception has been resolved.
Agreeing a waiver, amendment or forbearance with the lender.
Automation boundaryAgent acts unaided
✓Extract each covenant and reporting clause verbatim.
✓Compute the tested ratios under the loan's own definitions.
✓Trace each input back to the statement and the ledger behind it.
✓Flag what the officer should weigh, and hold the pack for them.
The agent never certifies and never transmits; delivery stays the borrower's act.
Drawing on a reserve or instructing a disbursement.
Deciding what a carve-out reaches in a given state.
Restating a delivered calculation or a signed certificate.
Changes to definitions, calendar or threshold configuration.
Example output
One covenant test, annotated
Everything the agent computes is attached to the statement it came from — and servicer and securitisation reporting is out of scope, sitting with the banking vertical.
Covenant output · single loanIllustrative example
Loan
Tested covenant
Consecutive months
Statement of record
Confidence
Exception status
Single-asset office loan
Debt service coverage on the lender's defined income, tested forward
Month 1 of 3
Operating statement
91%
Listed for the officer, not resolved
As receivedTaken from the operating statement and the loan agreement on file — nothing on this side is asserted by the agent.
A portfolio-level delivery-timeliness figure can read clean while a few loan types absorb most of the restated calculations. Nestack reports the restated-calculation rate by loan type, not only in total.
Slice performance — reported separately, not only in aggregateIllustrative example
Slice
Failure rate
Lift
Lift vs. threshold
Status
Cash-swept floating-rate loans
7.9%
3.7×
Review
Mezzanine and A/B structures
5.8%
2.7×
Review
Multi-property crossed loans
4.0%
1.9×
Watch
Fixed-rate single-asset loans
2.6%
1.2×
Normal
Bar: restated-calculation-rate lift vs. fixed-rate single-asset baseline · scale 0–4.0× · tick marks the 2.0× review threshold2 of 4 slices over threshold
Evidence-linked improvement
No cycle ends until a case exists
A cycle closes when the late delivery is a regression case. That suite is what the next certificate assembled is measured against.
Improvement cycle · five stagesSwitchback — the path turns at Improve and returns at Learn
01Detect
Restated calculations rise in one loan type.
02Diagnose
The coverage figure the lender had already computed, and the loan calls final, is traced back to the adjustment nobody applied.
03Improve
The fix carries a number, and the loans that forced it travel with it.
04Verify
Nothing goes out until every touched loan case has passed again.
05Learn
It is kept permanently, and the covenant rules are amended alongside it.
Learn → DetectThe return edge. The next quarter computes against a suite one case longer.
Typical build scope
Twelve workstreams across six weeks
The build scope read against the delivery timeline. Week structure follows the six-week plan — discovery, sources, covenant workflow, evaluation, integration, then production validation and handover.
WorkstreamWeek 1Week 2Week 3Week 4Week 5Week 6
01Covenant workflow discovery and boundary definition.
02Statement and loan-document assessment.
03Loan definition, calendar and reserve-rule mapping.
04Statement ingestion and normalisation.
05Covenant logic and evidence binding.
06Confidence scoring and exception routing.
07Officer sign-off workflow.
08Accounting and document-system integration.
09Delivery and calculation cases.
10Guardrails and officer controls.
11Loan-trail instrumentation.
12Deployment, documentation and Agent Care handover.
12 workstreams · 6 weeks · bar shows the weeks a workstream is active — several run in parallelFinal scope and sequence confirmed in discovery
Engagement tiers
What each tier includes
Rows are the capabilities named in each tier's scope. Higher tiers include everything below them.
Capability✓ in scope · — not at this tierPilotOne loan, one lenderProductionProduction statement feedsAdvancedMultiple lenders / entities
Introduced at Pilot
Computation to your loan and clauses✓✓✓
Officer sign-off✓✓✓
Calculation-trace baseline✓✓✓
Introduced at Production
Reporting by loan—✓✓
Sign-off workflow in your systems—✓✓
Approved internal write-back—✓✓
Statement-and-loan integration—✓✓
Introduced at Advanced
Multi-lender definition sets——✓
Multi-stage borrower approvals——✓
High loan volume——✓
Multi-lender delivery controls——✓
Build priceFrom $5,000From $8,000Custom quote
Final build priceConfirmed after discovery based on integrations, workflow complexity, transaction volume, approval controls and deployment requirements.
Separate from buildBuild pricing is separate from recurring Agent Care, which covers managed monitoring, evaluations, incidents and verified improvements after launch.
What we need from you
What you bring, and what we build with it
Each input maps to a piece of build scope and a week in the delivery timeline.
You bringWe build with it
01Your loan documents and their amendments→Clause extraction and covenant mappingWeek 1
02Representative statements and rent rolls→Computation baseline, definition mapping and evidence bindingWeek 2
03Your reporting calendar and reserve schedules→Loan definition and calendar mapping, and the boundaryWeek 1
04Access to relevant systems, statements or exports→Accounting and document-system assessment, then integration setupWeek 2
05Certificates you would not want tested→Delivery cases and the evaluation suiteWeek 4
06What no compliance certificate may state→Confidence scoring, exception routing, guardrails and sign-off controlsWeek 3
07Named officers to review the pack→Officer sign-off workflow, then pilot and production validationWeeks 5–6
Nothing else is requiredDeployment, documentation and Agent Care handover are ours.
Delivery timeline
Four phases across six weeks
Time on the job fixes each band here, which is why one week in the middle carries a pair of them.
PhaseW1W2W3W4W5W6
DiscoveryW1
BuildW2 – W3
EvaluateW4 – W5
Pilot & LaunchW5 – W6
Week focusW1Covenant workflow discovery, definition mapping and the automation boundaryW2Statement integration and the computation baselineW3Covenant workflow, confidence logic and sign-off controlsW4Evaluation suite, delivery cases and failure-mode testingW5Document integration, pilot loans and targeted correctionsW6One reporting quarter run under the finance officer, then Agent Care handover
Reading the bandEach band covers the weeks its work is named in and no others. The week 5 overlap is real, not padding.
At the end of W6The final checks clear on live loans and monitoring moves to Agent Care.
DurationSix-week plan shown · typical delivery 4–6 weeks depending on scope confirmed in discovery.
Next step · Real Estate AI agent
Build a covenant-compliance agent around your loan documents.
Bring the loan agreements, the statements behind them and the reporting calendar. A named officer of the borrower carries the compliance certificate — that officer signs it, delivers it and answers for it long after the fact, and the agent only shows the workings.
