The Loan Document Review skill ingests a loan document and produces an executive summary in an easily ingestible format to understand best practice questions about the document. Additionally, the Loan Document Review skill allows the user to ask up to three (3) unique questions about the document.
Specifically, the Loan Document Review produces analysis on the following sections of the uploaded document:
Primary Agreement Entities and Principal
Interest Rate
Loan Terms
Payment Plan
Prepayment Clause
Rate Type (Fixed or Adjustable)
Default Definition
Coverage Requirements
Escrow Account
Property Valuation
Insurance Obligations
Maintenance and Repair Duties
Collateral
Refinancing
Penalties for Late Payment
Amortization Schedule
Balloon Payments
Jurisdiction and Governing Law
Force Majeure Clause
Right of First Refusal
Subordination Clause
Cross Default Clause
Addendum Summary
Historic and/or Conservation Designations
Development Cost
Facility Cost / Total Budgeted Cost
To use this Skill, you must have a loan document for a senior housing community available to upload to the Skills module. Acceptable file formats include: .docx, .pdf, or .txt files. Please avoid scanned documents if possible as they may have trouble having their text recognized correctly. Files must be less than 120 MB.
To run this Skill:
Click "Continue" to acknowledge that you understand the upload requirements of the Skill.
Upload your desired loan document.
Input a question about the agreement into the blank text box or choose "Skip."
Input a second question about the agreement into the blank text box or choose "Skip."
Input a third question about the loan document into the blank text box or choose "Skip."
The analysis of your loan document will likely take several minutes. You can navigate away from the page while AI Skills analyzes your document. To download the output to a word document, select the "Download" button at the top or bottom of the output.
PLEASE NOTE: This content has been generated by NIC MAP Vision's Automations Platform and is only intended to be a first draft. It must be reviewed by a trained professional to ensure accuracy and compliance with all applicable laws and regulations.