> For the complete documentation index, see [llms.txt](https://docs.uptiq.ai/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.uptiq.ai/commercial-lending/getting-started/glossary.md).

# Glossary

Look up the acronyms, UI terms, and lending concepts used across Commercial Lending.

Every term used across the Commercial Lending documentation, from lending acronyms to UI labels, in one alphabetical list. Each entry links to the page that explains it in full, where one exists.

{% hint style="info" %}
Use your browser's find (**Ctrl+F** or **Cmd+F**) to jump to a term, or pick a letter from the page outline.
{% endhint %}

## A

**Abrigo (Sageworks)**: A core banking / loan-origination provider the **Core Banking** feature can push approved applications to. See [Features](broken://pages/46ffe76e7c2eb5ed80a19fe1885e3281337bb53f).

**Account**: A company within your organization. On the platform, "account" and "company" refer to the same thing (see *Company*). See [Companies](broken://pages/uHw5qqQnOUywi7AbVsBj).

**Action-bound feature**: A feature that performs an action on an application (a core-banking push, document generation) and appears on the application page at a configured workflow stage, as opposed to a passive setting. See [Features](broken://pages/46ffe76e7c2eb5ed80a19fe1885e3281337bb53f).

**Active**: A product or API key state indicating it is available for use. On products, Active is one axis of a dual-status model (the other is Draft/Published); a product must be both Active and Published to be available downstream for new applications. See [Loan products](broken://pages/pJ5bqSjgNGLZa9TGDavT).

**Additional Info**: The data-flow badge applied to custom (non-Seeded) intake questions. Answers to fields tagged Additional Info are saved as application metadata and viewable in the deal summary rather than feeding a platform record. See [Product configuration: Intake Questions](broken://pages/XuHUfQWpkM8cxf2PTv0E).

**Adjusted EBITDA**: EBITDA refers to Earnings Before Interest, Taxes, Depreciation, and Amortization. Adjusted EBITDA is after analyst-applied normalization adjustments: one-time items, non-recurring losses or gains, and other adjustments that produce a clean run-rate earnings figure. Computed on the left panel of Underwriting Review. See [Formulas quick reference](broken://pages/UJ59kLwA51fojDMMwwLV).

**Affirmative covenant**: A loan covenant requiring the borrower to do something during the financing term, typically deliver financial statements, maintain insurance, pay taxes promptly, or report material changes. Affirmative covenants are tracked for ongoing compliance because they require regular deliverables that the lender measures against the agreed schedule. Contrast with negative covenants (restrictions on what the borrower may do) and financial covenants (measurable thresholds).

**AI Agent**: A platform actor that can execute checklist items autonomously. Available as an Executing Party value on Checklist Items. See [Product configuration: Checklist Items](broken://pages/a3mHzRyrCN4VoQutaoEu).

**AI Instructions**: The per-section prompt configuration on the Credit Memo template. Sections with the AI Instructions badge use AI to generate their content. See [Product configuration: Credit Memo](broken://pages/9mUxGzL5aGZteVcrWiLQ).

**AML**: Anti-Money Laundering. A regulatory category of compliance checks a lender performs to detect and prevent money laundering. Surfaces on the [Customer record](broken://pages/lp8TRR4VPR1efgmkHBY7) Summary tab as *AML Risk Rating* (Low / Medium / High).

**API key**: A secret credential an external system uses to authenticate to the platform as a particular company. See [API keys](broken://pages/4jakOFpJKt3GcngUFLGr).

**Application**: The record that represents a loan request through every pre-servicing stage. An application enters the system at *Intake*, moves through underwriting via *Application*, *Pre-Screening*, and the memo stages, and ends at *Closed* (or *Not Eligible* / *Withdrawn*). Once at Closed, the application spawns a **loan account** in Servicing. Across the UI, the same record is called an *application* on the Applications list and *deal* in the Deal Hub context; these docs use *application* consistently for pre-servicing. See [Loan stages](/commercial-lending/getting-started/loan-stages.md).

**Application Parties**: The sub-tab on the Loan Summary Party Profile panel that lists every party on the deal as flat cards: borrowers, guarantors, co-borrowers, owners. The sibling sub-tab, Party Relationships, shows the same parties as a relationship graph.

**Applies To**: The scoping field on a Credit Policy and on a Checklist Item. On Credit Policies it has three sub-groups: Entity Types, Source of Funds, Collateral Types. On Checklist Items it's a single dropdown (Application / Entity / Collateral). See [Product configuration](broken://pages/PZJjZoHJgdFcJrg9AoOE).

**AUM**: Assets under management.

**Auth0**: One of three Authentication Provider values on the Add User dialog (with Microsoft and Self Managed). See [Users](broken://pages/2vgY40lxC1ZT2gGsYdMB).

**Auto / Manual**: The two scoring-type values for Risk Rating characteristics. Auto characteristics are scored from extracted data; Manual characteristics are scored by an analyst at risk-rating time. See [Product configuration: Risk Rating](broken://pages/8c2xvGpShXAP9XOFzpNm).

**autoNav**: A setting on deal links that opens the deal at its current workflow step rather than at the Loan Summary. Selecting an Application ID from the Applications list opens the deal this way, so you usually land mid-workflow. To reach the Loan Summary directly, open the deal from its summary link.

**Available Sections**: The catalog of Credit Memo sections available to add to a product's Memo Structure. See [Product configuration: Credit Memo](broken://pages/9mUxGzL5aGZteVcrWiLQ).

**Available Stages**: The quick-add row on the Stages tab containing chips for each platform-default stage not yet in the product's workflow; selecting a chip persists the stage immediately without a Save click. See [Product configuration: Stages](broken://pages/oK2QimtrsRhnI7HeQxK9).

## B

**BFS**: Business financial statement.

**Blocker**: The workflow-stopping value of the Action on Breach field on a Credit Policy; prevents applications from advancing past the stage the rule fires at. The alternative is **Notify**. See [Product configuration: Credit Policies](broken://pages/PZJjZoHJgdFcJrg9AoOE).

**Branding**: The screen that controls a company's URL slug, Officer Portal and Borrower Portal copy, and theme. See [Branding](broken://pages/X8mLUQoeSD9mpfXL4o18).

**BTR**: Business Tax Returns. In the system, C\&I workflows rely heavily on extracting data from Business Tax Returns (BTRs) and Personal Tax Returns (PTRs).

## C

**Calculate**: The primary action on the Underwriting Review step's left panel that runs the ratio engine. Labeled **Re-calculate** in the UI. The ratio panel on the right relies on this; the values displayed there are stale until Re-calculate runs against the current classifications.

**CapEx**: Capital Expenditures. Money spent on major property improvements or long-lived assets. Appears in [Classification Review](broken://pages/59c2zdmqn6QJYkgp3fAd) as a reserve category.

**Chart of accounts (COA)**: The standardized set of accounts a borrower's financial line items are mapped into during spreading, so figures can be analyzed consistently. Two COA surfaces exist: the Spread COA on [Spread configs](broken://pages/388be1abc0280d2fcce71211c7ebacca36644bd4) and the Covenant COA on [Covenant configs](broken://pages/KKchneJt7SmsITkePXji). The Spread COA is a full multi-root ontology (`assets.*`, `liabilities.*`, `equity.*`, `income.*`, `expense.*`); `expense.*` accounts appear on both surfaces rather than being covenant-only.

**Checklist item**: A document to collect or task to complete at a workflow stage. See [Checklist items](broken://pages/a3mHzRyrCN4VoQutaoEu).

**C\&I**: Commercial and Industrial. A loan category for operating businesses: working capital, equipment, expansion, and similar non-real-estate purposes. Underwriting relies on business cash flow, tax returns, and K-1s rather than property. See [C\&I](broken://pages/zKPjxSbY9mvQvhTYYfCz).

**CMBS**: Commercial Mortgage-Backed Securities. A takeout financing option for CRE loans; loans are pooled and sold to investors. Referenced in ICRE sizing assumptions. See [Sizing for floating-rate products](broken://pages/3Hz76k27ADtIqoBXUMP2).

**Company**: A business unit or brand within your lender. An organization has many companies; one is marked **Primary**. Each carries its own users, roles, branding, and products. Also called an *account*. See [Companies](broken://pages/uHw5qqQnOUywi7AbVsBj).

**Company Default Account**: The green-on-mint chrome chip shown at the top of every screen scoped to one company. Compare with **PLATFORM All Companies**.

**Conditional Display**: The per-question rule editor on Edit Question that hides a field when other-field conditions match. Mutually exclusive with **Required**. See [Product configuration: Intake Questions](broken://pages/XuHUfQWpkM8cxf2PTv0E).

**Configurator**: The tenant-configuration role that configures one company: users, teams, products, branding and risk rating models. It does not hold the spread configs, covenant configs or covenant spread templates permissions; the Tenant Admin does. See [Configurator reading path](/commercial-lending/getting-started/role-guides.md#configurator).

**Core banking system**: The lender's system of record for booked loans; the **Core Banking** feature pushes approved applications to it as a proposed loan. See [Features](broken://pages/46ffe76e7c2eb5ed80a19fe1885e3281337bb53f).

**Covenant**: An obligation in the loan agreement that the borrower must meet during the loan term. Covenants are affirmative (do something), negative (don't do something), or financial (maintain a metric). The covenant-extraction agent identifies them from the loan agreement, and the ones selected for tracking are monitored after closing; violations show as **Non-Compliant** on the [Covenant dashboard](broken://pages/ExVPio48FQTH6aqK84f0).

**Covenant COA**: The Chart of Accounts the covenant compliance pipeline evaluates against. Same card shape as the Spread COA; the two share a multi-root vocabulary rather than a clean `assets.*` vs `expense.*` split. See [Covenant configs](broken://pages/KKchneJt7SmsITkePXji).

**CRE**: Commercial Real Estate. A loan category secured by commercial property, such as acquisitions and refinancing. Underwriting relies on rent rolls, operating statements, and property analysis. See [CRE](broken://pages/rl2p4MqAGjE96nClJSVB).

**Credit Memo**: (1) the credit memorandum produced for each underwritten loan; (2) the loan-product configuration tab where the memo template is authored; (3) one of the tabs available within a workflow stage on the per-stage Configure panel, separate from **Preflight Memo**. See [Product configuration: Credit Memo](broken://pages/9mUxGzL5aGZteVcrWiLQ) and [Product configuration: Stages](broken://pages/oK2QimtrsRhnI7HeQxK9).

**Credit Memorandum**: The approval document for a deal, with 22 sections (23 on a commercial real estate memo), assembled by the platform from the per-deal workflow outputs and reviewed by the analyst before approval. See [Credit memorandum](broken://pages/ZUFSQDiPM4ZEzh3CxukR) for the section list and per-section details.

**Credit policy**: An AI-evaluated underwriting rule. **Blocker** prevents progression. **Notify** creates a warning. See [Credit policies](broken://pages/PZJjZoHJgdFcJrg9AoOE).

**Credit Request**: (1) a data-flow badge applied to intake questions that feed the credit-request platform record; (2) the category prefix on `Maps to:` paths (for example, `Credit Request → Loan Purpose`). See [Product configuration: Intake Questions](broken://pages/XuHUfQWpkM8cxf2PTv0E).

**CSRP**: Company-specific risk premium.

**Current company**: The company you're working in. Company-scoped screens (users, teams, branding, products, risk rating models, and for the Tenant Admin the spread and covenant configs) apply to whichever company is current. See [Companies](broken://pages/uHw5qqQnOUywi7AbVsBj).

**Customer Admin**: The company-side super admin, who runs configuration, users, branding, and portals for their company. A tenant-scoped platform role. Contrast *Tenant Admin*. See [Roles and permissions](broken://pages/yaliiYSba8n5xC7fJa4n).

## D

**Data-flow badge**: An intake-question label showing where its answer is stored. See [Configure intake questions](broken://pages/XuHUfQWpkM8cxf2PTv0E).

**DCF**: Discounted cash flow.

**Deactivate**: The action that toggles a product, user, or API key from Active to Inactive. On products and users it requires a confirmation; on API keys it fires immediately with no confirmation. See [API keys](broken://pages/4jakOFpJKt3GcngUFLGr), [Users](broken://pages/2vgY40lxC1ZT2gGsYdMB), [Loan products](broken://pages/pJ5bqSjgNGLZa9TGDavT).

**Deal Hub**: The Underwriting workspace for one application. Shows the stage stepper, the memo or wizard for the current stage, and a 7-icon top toolbar for cross-stage actions (Checklist, Credit Policy, Payment Calculator, and so on). Where a loan officer spends most of their time between Pre-Screening and Closing. See [Deal Hub](broken://pages/59c2zdmqn6QJYkgp3fAd).

**Default Team**: The product-level dropdown on Details that stamps a starting team onto every new application of that product. Lists `None` plus every team configured on Teams, each annotated with its Kind. See [Product configuration: Details](broken://pages/Be0MDbp4rzUp6YChr3bu).

**Display Precision**: The dropdown in the Precision Settings card on Spread Configs that sets how many decimal places financial values show across spreading tables and COA review screens. See [Spread configs](broken://pages/388be1abc0280d2fcce71211c7ebacca36644bd4).

**Document AI type**: An extractor: the component that reads a document of a given kind and pulls structured data from it. Application document types map to these. See [Document types](broken://pages/3581e103a034bbc6a89bed87cb15615aba3e3cbd).

**Document Extraction**: Step 1 of the four-step per-deal workflow. The platform's extraction agent reads uploaded financial documents (tax returns, balance sheets, income statements) and emits structured line items. See [Step 1: Document extraction](broken://pages/pGn9CKIkig7T0UKqTwth).

**Draft**: The unpublished half of a product's publication-state status. Draft edits are not visible to downstream surfaces; the previously-published version remains the source of truth. See [Loan products](broken://pages/pJ5bqSjgNGLZa9TGDavT).

**DSCR**: Debt Service Coverage Ratio. Cash flow available to service debt divided by total debt service; for property loans, Net Operating Income divided by annual debt service. A value above 1.0 means cash flow covers the debt. Used as a sizing constraint in ICRE underwriting and as a common financial covenant. See also *Global DSCR*. See [Financial profile](broken://pages/YsbR9lzozScFR8TMz7la).

**DY**: Debt Yield. Net Operating Income divided by loan amount. A rate-independent measure of loan risk; used as a sizing constraint alongside DSCR. See [Sizing for floating-rate products](broken://pages/3Hz76k27ADtIqoBXUMP2).

## E

**EIN**: Employer Identification Number. The nine-digit federal tax ID for a business, in the format `XX-XXXXXXX`. Captured when a customer is created and on the intake wizard's Business Details step, and available as an intake Field Type. See [Intake questions](broken://pages/XuHUfQWpkM8cxf2PTv0E).

**Entity Field**: A data-flow badge applied to intake questions that feed the entity (borrower/guarantor) platform record. See [Product configuration: Intake Questions](broken://pages/XuHUfQWpkM8cxf2PTv0E).

**Entity role**: The relationship a customer entity has to a specific application. Common roles include *Borrower*, *Co-Borrower*, *Guarantor*, *Sponsor*, and *Property Manager*. The same customer can play different roles on different applications, and multiple customers appear on the same application with different roles. See [Applications per customer](broken://pages/lp8TRR4VPR1efgmkHBY7).

**Equals value**: The right-hand input of a Conditional Display rule, paired with the **Hide when** dropdown. See [Product configuration: Intake Questions](broken://pages/XuHUfQWpkM8cxf2PTv0E).

**Executing Party**: The Checklist Items field naming who or what completes the item: **Human** or **AI Agent**. See [Product configuration: Checklist Items](broken://pages/a3mHzRyrCN4VoQutaoEu).

**Export COA Config**: The download button in the COA Actions card on Spread Configs that exports the current chart of accounts as an `.xlsx` file. See [Spread configs](broken://pages/388be1abc0280d2fcce71211c7ebacca36644bd4).

## F

**FCF**: Free cash flow.

**Federal EIN**: See EIN.

**Field ID**: The internal, read-only identifier of an intake question. See [Product configuration: Intake Questions](broken://pages/XuHUfQWpkM8cxf2PTv0E).

**Field Type**: The data-type enum on Edit Question (Text through US State); some values reveal additional sub-forms. See [Product configuration: Intake Questions](broken://pages/XuHUfQWpkM8cxf2PTv0E).

**Financial covenant**: A loan covenant requiring the borrower to maintain a specific financial metric, most commonly a minimum DSCR, a maximum Debt-to-Worth ratio, or a minimum Tangible Net Worth. Financial covenants are tracked because they require periodic measurement against the borrower's financials. Violation is measurable and immediate; the platform surfaces violations on the Covenant Dashboard Non-Compliant tile.

## G

**Generate Code**: The button on Credit Policies that compiles natural-language policies into executable policy code; the code starts as Draft and **Activate** promotes it to the live underwriting pipeline. See [Product configuration: Credit Policies](broken://pages/PZJjZoHJgdFcJrg9AoOE).

**Generate Widget Section**: The AI-authoring dialog on the Credit Memo tab that produces new Available Sections from a natural-language description. See [Product configuration: Credit Memo](broken://pages/9mUxGzL5aGZteVcrWiLQ).

**GL**: General liability insurance.

**Global cash flow**: The consolidated cash flow available to service the bank's debt, summed across every entity on a deal: borrower, business guarantors, and individual guarantors and owners. The opposite of standalone cash flow, which considers a single entity in isolation. See [Global review](broken://pages/6YvEtppOKKDfoyvhlevj); the published calculation appears in Credit Memorandum Section 10.

**Global DSCR**: The ratio of global cash flow to total debt service (new debt service + existing business debt service + personal debt service). Where Business DSCR asks whether the operating company alone can service the debt, Global DSCR asks whether the operating company plus the guarantors together can. A deal with Business DSCR below 1.0x but Global DSCR above the bank's covenant threshold (typically 1.20–1.50x) is the most common middle-market commercial pattern. See [Global review](broken://pages/6YvEtppOKKDfoyvhlevj).

**Global View**: The consolidated picture of cash flow, debt service, and balance-sheet strength across every entity on a deal. Not a single screen: the consolidation is built up through the per-entity workflow steps and surfaced canonically in Credit Memorandum Section 10. See [Global review](broken://pages/6YvEtppOKKDfoyvhlevj).

**Grade Mapping**: The table on Risk Rating mapping numeric scores to grades, with color tags. See [Product configuration: Risk Rating](broken://pages/8c2xvGpShXAP9XOFzpNm).

**Greenlight Memo**: The AI-generated underwriting memo configured on the Credit Memo tab. See [Greenlight memo](broken://pages/xRzhPZioBQhVFDLtpUUc).

## H

**Hide when**: The left-hand dropdown of a Conditional Display rule; populates with every other question on the form. See [Product configuration: Intake Questions](broken://pages/XuHUfQWpkM8cxf2PTv0E).

**HUD**: Housing and Urban Development. The U.S. federal department that runs the FHA (Federal Housing Administration) lending programs. HUD 223(f) is a specific multifamily refinance program referenced in ICRE sizing. See [Sizing for floating-rate products](broken://pages/3Hz76k27ADtIqoBXUMP2).

## I

**ICRE**: Institutional Commercial Real Estate. The lending program family covering multifamily, office, retail, and similar properties whose income services the loan. Runs the Greenlight / Term Sheet workflow. See [ICRE product types](broken://pages/rdFLinf6NmyjsZIfmOsB).

**Inactive**: The deactivated half of a product's or API key's lifecycle status. On API keys, inactive rows have no Actions affordance and cannot be reactivated from the UI. See [API keys](broken://pages/4jakOFpJKt3GcngUFLGr), [Loan products](broken://pages/pJ5bqSjgNGLZa9TGDavT).

**Intake Questions**: The product configuration tab that defines what the borrower is asked on intake; each question carries a Field ID, Field Type, data-flow badge, and optional Conditional Display rules. See [Product configuration](broken://pages/XuHUfQWpkM8cxf2PTv0E).

**IR**: Interest Reserve. Cash set aside at closing to cover interest payments during a stabilization period. Shown in Classification Review's Transaction Mechanics step for Floating-rate ICRE loans.

## K

**KIND**: The function of an underwriting team (for example, Underwriting, Origination, Legal), set when a team is created. The Teams screen offers 12 Kind values; only **Underwriting (credit analysis)** triggers the SLA clock when assigned to an application. See [Teams](broken://pages/qUOKam8sH7K9kBUTAWwa).

**KPI**: Key performance indicator.

**KYC**: Know Your Customer. Identity verification required by regulation before onboarding a customer. Surfaces on the Customer record Summary tab as *KYC Status* (Not Started / In Progress / Approved / Rejected).

## L

**Lendable Value**: The dollar amount the bank will lend against a collateral item, computed as As-Is Value × Advance Rate. On the Loan Summary collateral cards, this is auto-calculated from the As-Is Value and Advance Rate fields.

**Loan account**: The record for a booked loan, created when an application reaches **Closed**. It holds the loan's terms, balance, payment schedule, and tracked covenants and ticklers. See [Loan accounts](broken://pages/9TlAoueET4bz7Ghm30HL).

**Loan product**: A product created from a product category and configured for your organization. Every application created from it inherits its intake, stages, checklist, credit policies, disclosures, and memo. A loan product must be both Active and Published before new applications can use it. See [Products and product categories](/commercial-lending/getting-started/concepts/products-and-product-categories.md).

**Loan Products**: The platform's internal name for the Products configuration screen; the page header reads "Loan Products," the sidebar entry reads "Products." See [Loan products](broken://pages/pJ5bqSjgNGLZa9TGDavT).

**Loan Summary**: The structured-data view of a deal at `/deals/<id>/summary`. See [Loan summary](broken://pages/8d0rtGLJAIbB2RHDsMfl).

**LO footer menu**: The account menu in the bottom-left of the sidebar, opened by selecting the avatar / "Loan Officer" chip. The menu contains identity (email, role chip), product switcher (Product Check / Default Account), Change Password, Logout, and the platform version.

**LOI**: Letter of Interest. A non-binding document stating proposed loan terms, issued to the borrower after Pre-Screening. Also the name of the stage that follows Pre-Screening for C\&I and CRE products, and of a per-stage tab. Some products rename it, for example to Term Sheet. See [Letter of interest](broken://pages/ErhQ4HjD9UFV0wSBelmr).

**LOS (Loan Origination System)**: The class of system this platform belongs to: it manages the commercial loan origination lifecycle.

**LTC**: Loan-to-Cost. Loan amount divided by the total cost of the project (purchase price plus renovation and other costs). A sizing constraint used in ICRE underwriting.

**LTV**: Loan-to-Value. Loan amount divided by the property's appraised value. A sizing constraint used in ICRE underwriting. See [Collateral profile](broken://pages/l9Xd9Wy5hJ2B2aaXDE9J).

## M

**Maps to**: The badge below the Field ID on the Edit Question dialog showing a field's internal mapping path (for example, `Maps to: Credit Request → Loan Purpose`); platform-defined and not editable. See [Product configuration: Intake Questions](broken://pages/XuHUfQWpkM8cxf2PTv0E).

**Memo Structure**: The ordered list of sections that compose a product's Credit Memo template, drawn from the Available Sections catalog. See [Product configuration: Credit Memo](broken://pages/9mUxGzL5aGZteVcrWiLQ).

**Merge variable**: A token like `{{borrowerName}}`, written with double braces, that is replaced with a real value when an email is sent. See [Email templates](broken://pages/8e4df4dd0cba1a3da13e34cb2d8c0706bd607358).

**Metabase**: The analytics tool the platform's reports are built in; the Reports Registry maps Metabase dashboards and questions into platform reports. See [Manage the reports registry](broken://pages/5shKmH547uwFQPRAXMeS).

**Microsoft**: One of three Authentication Provider values on the Add User dialog (with Auth0 and Self Managed). See [Users](broken://pages/2vgY40lxC1ZT2gGsYdMB).

**MIP**: Mortgage Insurance Premium. An annual fee charged on HUD-insured mortgages. Referenced in ICRE HUD sizing assumptions. See [Sizing for floating-rate products](broken://pages/3Hz76k27ADtIqoBXUMP2).

**MSA**: Metropolitan statistical area.

**Multi-entity deal**: A loan application with more than one party, typically a business borrower plus one or more guarantors plus the individuals who own 20% or more of any party. The platform's screens and workflows are organized around the per-entity discipline this implies: documents, spreads, ratios, and projections all run separately per entity, with consolidation appearing in [Global review](broken://pages/6YvEtppOKKDfoyvhlevj) and the Credit Memorandum.

## N

**NAICS**: North American Industry Classification System. The standard codes that identify a business's industry. Used by the intake wizard's **Industry Sector** dropdown and available as an intake Field Type (`Industry Sector (NAICS)`). See [Business profile](broken://pages/lWgdtcysTkVr5itqQFW3).

**NCF**: Net Cash Flow. Net Operating Income minus capital reserves. Office and Retail categories in Classification Review use NCF-based sizing floors; Multifamily uses NOI.

**Negative covenant**: A loan covenant restricting what the borrower may do during the financing term, for example taking on additional debt, selling assets, paying dividends without lender consent, or changing the business's fundamental nature. Negative covenants are typically not tracked for ongoing compliance, because a violation only becomes visible if reported through other channels rather than through a periodic document submission. Most banks deselect negative covenants when reviewing the platform's extraction output from a loan agreement upload. Contrast with affirmative covenants and financial covenants.

**NOI**: Net Operating Income. Effective Gross Income minus total operating expenses (before debt service and reserves). The primary income metric in ICRE underwriting.

**Notify**: The default value of Action on Breach on a Credit Policy; creates a warning without stopping the workflow. Compare **Blocker**. See [Product configuration: Credit Policies](broken://pages/PZJjZoHJgdFcJrg9AoOE).

**NRA**: Net Rentable Area. The leasable square footage of a property, excluding common areas. Appears on Office Rent Rolls.

## O

**OAEM**: Other Assets Especially Mentioned, a risk grade.

**OIDC (OpenID Connect)**: An identity protocol; the Auth0 identity provider signs in through OIDC. See [Configure auth providers](broken://pages/mUT7jK562tdGefcpPqUa).

**OPTIONS**: The chip-list editor revealed on Edit Question when Field Type is Select or Multiselect. See [Product configuration: Intake Questions](broken://pages/XuHUfQWpkM8cxf2PTv0E).

## P

**Per-deal workflow**: The four-step underwriting sequence that runs while a deal is in the Pre-Screening portfolio stage: Document Extraction → Financial Review → Underwriting Review → Projections & Stress Review. The workflow is per-deal: two deals in Pre-Screening at the portfolio level can be at different workflow steps. See [Loan stages](/commercial-lending/getting-started/loan-stages.md).

**Personal Financial Statement (PFS)**: A document a guarantor or individual owner provides listing their personal assets (cash, securities, real estate, business interests) and liabilities (mortgages, personal loans, credit cards). The platform extracts the PFS into a Personal Balance Sheet artifact used in personal financial analysis. See [Personal financial review](broken://pages/ifakQTR4pIj94o2FThbI).

**Personal Tax Return (PTR)**: A guarantor's or individual owner's federal tax return (Form 1040 plus its schedules). Provides personal income, business pass-through income from K-1s and Schedule C, capital gains, and taxes paid. The platform extracts the PTR into a structured spread used in personal financial analysis. Banks typically collect three years of PTRs per individual entity on a deal. See [Personal financial review](broken://pages/ifakQTR4pIj94o2FThbI).

**PFS**: Personal financial statement. See [Personal financial review](broken://pages/ifakQTR4pIj94o2FThbI).

**Pick Up**: A per-row action on the Applications list that self-assigns an unassigned deal to the acting officer. Inert when the deal is already assigned to the acting user. See [Assign a team and pick up a deal](broken://pages/IUkGnVBQqOMbPRQvUEBd).

**Pilot**: An early-release feature that may not be enabled for every tenant (for example, Document Template and Risk Rating on a loan product).

**PLATFORM All Companies**: The grey-on-cream chrome chip shown at the platform level (the Companies index and the company home page). Compare **Company Default Account**.

**Platform role**: A tenant-scoped role that applies across every company (Tenant Admin or Customer Admin), granted on [Platform roles](broken://pages/r5uE5bCflMGhVBJdqmu7). Contrast a per-company role.

**Policy Code**: Executable code generated from reviewed, active credit policies. See [Credit policies](broken://pages/PZJjZoHJgdFcJrg9AoOE).

**Portfolio stage**: The high-level status of a deal in the bank's pipeline: Draft, Application, Pre-Screening, LOI, Credit Memo, Closed, Not Eligible. Distinct from the per-deal workflow, which describes how far underwriting has progressed inside Pre-Screening. The Dashboard KPI tiles and the Applications stage chips both filter by portfolio stage. See [Loan stages](/commercial-lending/getting-started/loan-stages.md) for the relationship between the two structures.

**PPR**: Prospect Presentation Report.

**Precision Settings**: The card on the Spread Configs landing that controls display precision across spreading via the Display Precision dropdown. See [Spread configs](broken://pages/388be1abc0280d2fcce71211c7ebacca36644bd4).

**Preflight Memo**: A pre-screening memorandum tab available within a workflow stage on the per-stage Configure panel, distinct from **Credit Memo**. See [Product configuration: Stages](broken://pages/oK2QimtrsRhnI7HeQxK9).

**Pre-Screening**: The portfolio stage during which the per-deal workflow runs. A deal in Pre-Screening is in active underwriting: extraction, financial review, underwriting review, and projections are happening on it. Pre-Screening ends when the deal advances to LOI or Credit Memo. See [Loan stages](/commercial-lending/getting-started/loan-stages.md).

**Primary**: A badge with two uses: on the Companies list it marks the organization's primary company; on the Users list it's a user account **Type**.

**Product category**: The Configurator-defined template a loan runs on. A product category owns the intake fields, checklist, credit policies, memo template, wizard configuration, and covenant categories that apply to loans in the category. Different product categories drive different UI shapes for the same features: a Multifamily-Fixed application shows different Classification Review steps than a Multifamily-Floating one because they're configured on different categories. See [Product categories](broken://pages/QTXzZLbKP1zarC62w7aB).

**Product Code**: The internal identifier for a product, set on Details; auto-generated from the product name before first publish and editable but treated as immutable after publish. See [Product configuration: Details](broken://pages/Be0MDbp4rzUp6YChr3bu).

**Product For**: The product-level dropdown on Details determining whether intake seeds a Business or Individual schema. See [Product configuration: Details](broken://pages/Be0MDbp4rzUp6YChr3bu).

**Product line**: A group of product categories offered together on the platform. Commercial LOS, which covers the CRE and C\&I categories, is a product line. See [Product lines](/commercial-lending/product-lines.md).

**Product type**: An application template defining intake, workflow, documents, underwriting rules, and generated documents. See [Product categories overview](broken://pages/QTXzZLbKP1zarC62w7aB).

**Pro Forma**: Projected or adjusted financial statements, often used in Mergers and Acquisitions (M\&A) deals. Currently, these are built using the manual "internal statement" feature.

**Property Information**: Step 4 of the CRE Loan intake wizard. Where Term Loan and Bridge Loan have Owner Information and Collateral Available at this position, CRE Loan replaces Step 4 with a CRE-specific Property Information section.

**Public Intake**: An unauthenticated application page for brokers or borrowers. See [Configure the Public Intake tab](broken://pages/Xw4PBzhpkQRUcrlBiMHU).

**Publish**: The action that promotes a product's Draft state to Published, creating a new version of the product configuration that becomes the downstream source of truth. See [Loan products](broken://pages/pJ5bqSjgNGLZa9TGDavT).

**Published for Computation**: The status column on Covenant Spread Templates; a Published template is consumed by the covenant compliance pipeline, a Draft template is not. See [Covenant spread templates](broken://pages/DCdG9jwBx5xn7oyYU9XR).

## R

**RBAC (role-based access control)**: The model where permissions are granted to a user by assigning them a role, rather than directly. See [Roles and permissions](broken://pages/yaliiYSba8n5xC7fJa4n).

**Re-calculate**: See Calculate. See [Step 3: Underwriting review](broken://pages/az5D95qyqSzandu4NZWB).

**Repeatable**: One of the Field Types on Edit Question, implying a list-of-items shape. See [Product configuration: Intake Questions](broken://pages/XuHUfQWpkM8cxf2PTv0E).

**Repeatable group**: Nested intake fields captured once per item, such as each sponsor. See [Configure intake questions](broken://pages/XuHUfQWpkM8cxf2PTv0E).

**Required**: (1) a field's obligation flag on Edit Question, mutually exclusive with Conditional Display rules; (2) a flag on Disclosures requiring borrower acknowledgment before proceeding. See [Product configuration](broken://pages/XuHUfQWpkM8cxf2PTv0E).

**Risk rating scoring model**: Weighted characteristics that produce a 0–100 score and grade.

**Rule Type**: The Validation Rules enum: `validation` (gates workflow progression) and `extraction` (pulls values out of documents). See [Product configuration: Checklist Items](broken://pages/a3mHzRyrCN4VoQutaoEu).

## S

**SBA**: Small Business Administration. The U.S. federal agency that guarantees loans to small businesses. Some valuation datasets support SBA pre-risk analysis.

**Seeded**: Pre-populated by the platform, as opposed to added by an admin. Seeded catalog rows (for example, seeded intake questions) often have an immutable Field ID. See [Configure intake questions](broken://pages/XuHUfQWpkM8cxf2PTv0E).

**SelfManaged**: Email-and-password accounts the platform manages itself, as opposed to SSO sign-in. Shown as **Self Managed** on the Add User dialog's Authentication Provider field.

**Set Password**: The Users-screen action (Actions → Set Password) that sets a specific password for another user, distinct from **Change Password**, which changes the signed-in user's own password. See [Users](broken://pages/2vgY40lxC1ZT2gGsYdMB) and [Change password](broken://pages/xf4hxvalIbakHpRhY3ud).

**SLA Clock**: The platform's per-application timer that starts when an Underwriting-Kind team is assigned. Configured per product on Details; the team's Kind must be **Underwriting (credit analysis)** for the clock to start. See [Product configuration: Details](broken://pages/Be0MDbp4rzUp6YChr3bu) and [Teams](broken://pages/qUOKam8sH7K9kBUTAWwa).

**SLA (service-level agreement)**: Here, the underwriting time target set on a loan product (in days). See [Configure the Details tab](broken://pages/Be0MDbp4rzUp6YChr3bu).

**SLM (small language model)**: The model the Data Export training files are generated for. See [Export training data](broken://pages/EqNW72MeXZTMzXiWzLws).

**SOC2 CC6.2**: The SOC2 access-control requirement covering session management, which the Session Security controls implement.

**SOFR**: Secured Overnight Financing Rate. A benchmark interest rate for U.S. dollar loans, replacing LIBOR. Referenced in ICRE Transaction Mechanics for Floating-rate loans. See [Sizing for floating-rate products](broken://pages/3Hz76k27ADtIqoBXUMP2).

**Solution**: The top level of the platform's product model. Commercial Lending is a solution, and it ships as product lines on one platform. See [Product lines](/commercial-lending/product-lines.md).

**Source of Funds**: One of three Applies To sub-groups on a Credit Policy. See [Product configuration: Credit Policies](broken://pages/PZJjZoHJgdFcJrg9AoOE).

**Spread**: In commercial lending, the structured representation of a borrower's financial statements organized into a canonical Balance Sheet / Income Statement / Cashflow Statement format suitable for ratio analysis. The platform's Financial Review step is where the spread is built from extraction output and classified for the analyst's confirmation. See [Spreading guide](broken://pages/5CXyjyUhQnGBw2ZG5oPG).

**Spread COA**: The Chart of Accounts on Spread Configs; a full multi-root ontology spanning `assets.*`, `liabilities.*`, `equity.*`, `income.*`, and `expense.*`. See [Spread configs](broken://pages/388be1abc0280d2fcce71211c7ebacca36644bd4).

**Spread For**: The Add Spread Requirements field naming who a spread is computed against: Entity, Collateral, or Global. See [Covenant configs](broken://pages/KKchneJt7SmsITkePXji).

**Spreading**: Laying a borrower's financials out into a standardized, configurable chart of accounts so the platform can analyze them consistently. See [Spread configs](broken://pages/388be1abc0280d2fcce71211c7ebacca36644bd4).

**Spread Templates**: The former standalone spreadsheet-template screen under Spreading, now retired; template management is consolidated under Covenant Spread Templates. See [Covenant spread templates](broken://pages/DCdG9jwBx5xn7oyYU9XR).

**SPV**: Special Purpose Vehicle. A legal entity created to hold a single asset like a specific property. During intake, flagging an entity as a CRE holding company/SPV will auto-aggregate property-level cash flows to the entity level.

**SSN**: Social Security Number. The nine-digit federal tax ID for an individual. Captured when an individual customer is created and on the intake wizard for owners with a 20% or larger stake, and available as an intake Field Type. Treated as sensitive personal information.

**SSO (single sign-on)**: Signing in through an external identity provider (Google, Microsoft Entra ID, Auth0) instead of an email-and-password account. Configured on [Auth providers](broken://pages/mUT7jK562tdGefcpPqUa).

**Stage**: A loan-workflow step that controls visible tabs, transitions, and auto-assignment. See [Configure product stages](broken://pages/oK2QimtrsRhnI7HeQxK9).

**Stage Category**: The per-stage classification dropdown on the Configure side panel: Intake, Underwriting, or Closing. See [Product configuration: Stages](broken://pages/oK2QimtrsRhnI7HeQxK9).

**Stage transition**: The action of moving a deal from one portfolio stage to another (for example, Application → Pre-Screening, Pre-Screening → LOI, Credit Memo → Closed). Most transitions happen through the deal-level `...` overflow menu on the Loan Summary. Some are automatic: submitting the intake wizard advances Intake → Application; signing the Credit Memo's Section 22 advances Credit Memo → Closed in tenants where that's configured. Transitions have side effects (for example, Credit Memo → Closed creates a new Loan Account in the Covenants area). See [Loan stages](/commercial-lending/getting-started/loan-stages.md).

**Stress Testing**: A feature that allows Loan Officers to simulate adverse conditions to automatically recalculate the loan's risk profile. Example: Increasing interest rates by 200 bps or decreasing revenue by 5%. See [Sizing, Stress Testing & Risk Review](broken://pages/drjKGhtBR2BvDLKtsQCB).

## T

**T-12**: Trailing 12 months. Operating statements for the most recent 12 months, used in NOI reconciliation.

**Tabs & Navigation**: The checkbox set on the per-stage Configure side panel controlling which downstream tabs are visible within the stage. See [Product configuration: Stages](broken://pages/oK2QimtrsRhnI7HeQxK9).

**Tenant**: Your organization on the platform. Tenant-wide settings apply across the whole organization.

**Tenant Admin**: The platform-builder super admin, operating across all companies and not visible to subscriber companies. Contrast *Customer Admin*. See [Roles and permissions](broken://pages/yaliiYSba8n5xC7fJa4n).

**Tenant-configurable**: A field, dropdown, or panel whose contents are defined per tenant rather than uniformly across the platform. Examples: the Primary Banking Relationship dropdown (specific bank names), the segment chips on Customers, the Default Account product list. Tenant-configurable surfaces vary across deployments; the screens in these docs show one tenant's setup.

**Tickler**: A scheduled compliance check: one instance of a covenant requirement due on a specific date. Ticklers are generated from the covenant rules on a loan's product category (via the *Generate Ticklers* action in Covenant Consolidation). Each tickler has a due date and a status (Upcoming, Compliant, Overdue, and so on). See [Covenant consolidation](broken://pages/TkTZ1HJULgyMOS9qRL9c).

**TI/LC**: Tenant Improvements / Leasing Commissions. Costs of preparing a leased space for a new tenant and paying brokers. Retail properties in Classification Review show a TI/LC Reserve Schedule.

## U

**UCC**: Uniform Commercial Code. See [Search and review UCC liens](broken://pages/uF6ecgSWJLHMnwGIkCeZ).

**Underwriting**: (1) a Team Kind value (**Underwriting (credit analysis)**), the only Kind that triggers the SLA clock; (2) a Stage Category value on the per-stage Configure panel. See [Teams](broken://pages/qUOKam8sH7K9kBUTAWwa) and [Product configuration: Stages](broken://pages/oK2QimtrsRhnI7HeQxK9).

**Underwriting Review**: Step 3 of the four-step per-deal workflow. EBITDA, normalization adjustments, and the ratio panel are computed here. See [Step 3: Underwriting review](broken://pages/az5D95qyqSzandu4NZWB).

**UST**: U.S. Treasury. Government-issued debt used as a benchmark index rate. Floating-rate ICRE sizing references *bps over 10-year UST*. See [Sizing for floating-rate products](broken://pages/3Hz76k27ADtIqoBXUMP2).

## V

**Validation rule**: An AI check against an uploaded document, with a severity, scope, and type.

**Validation Rules**: The per-checklist-item rule set evaluated against the item's completion, with two Rule Types: `validation` and `extraction`. See [Product configuration: Checklist Items](broken://pages/a3mHzRyrCN4VoQutaoEu).

**Vault view**: One of two views of the per-deal Documents area. Vault organizes documents by entity and document type with per-entity progress indicators. The sibling view, Classic, organizes by classification status (Pending Classification / Awaiting Review).

**Versions**: The Spread Configs button that opens the COA Configuration Version History modal, a version-by-version log of every COA version a tenant has had. See [Spread configs](broken://pages/388be1abc0280d2fcce71211c7ebacca36644bd4).

## W

**WACC**: Weighted average cost of capital.

## Related

<table data-view="cards"><thead><tr><th></th><th></th><th data-hidden data-card-target data-type="content-ref"></th></tr></thead><tbody><tr><td><strong>Platform overview</strong></td><td>How the platform is organized, and every capability it offers.</td><td><a href="/commercial-lending/platform-overview.md">Platform Reference</a></td></tr><tr><td><strong>Loan stages</strong></td><td>The stages a deal moves through, by product.</td><td><a href="/commercial-lending/getting-started/loan-stages.md">Loan stages</a></td></tr><tr><td><strong>Role guides</strong></td><td>The pages for your role, in reading order.</td><td><a href="/commercial-lending/getting-started/role-guides.md">Roles</a></td></tr></tbody></table>

***

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<p align="right"><em>Maintained by</em> <mark style="color:green;">Abhishek Paul</mark><br><code>AI-assisted, human-approved</code></p>
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<div align="left"><img src="https://2424445642-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FoNOfYlgbuwiWKkdQsRIp%2Fuploads%2Fgit-blob-d034645b4f8f8ee661985f5306b60ded3289653c%2Fmaintainer-abhishek-paul.png?alt=media" alt="" width="60"></div>
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