AI for commercial real estate lenders, for every document between the deal and the payoff.
Bluegrass builds production AI systems for commercial real estate lenders, including banks' CRE groups, debt funds and bridge and construction lenders. They take over the document work across the life of a loan, run in your own environment and belong to you.
A CRE lender's capacity depends on how quickly analysts turn a deal package into an underwriting model, and its losses on how closely it watches funded properties and projects. Both rest on reading long and varied documents accurately.
Where a CRE lender's time goes
Screening and underwriting
Every deal arrives with a rent roll, operating statements and leases in the borrower's own format, which analysts rebuild before they can size the loan.
Third-party reports
Appraisals and environmental, property condition and zoning reports run to hundreds of pages and have to be checked against the underwriting before closing.
Construction draws
Monthly draw packages with invoices, lien waivers and inspection reports have to be reconciled to the budget before any money is released.
Asset management
Quarterly rent rolls and operating statements, insurance renewals and borrower requests keep arriving for the life of every loan.
What we build for commercial real estate lenders
Insurance compliance
Borrowers' property and liability insurance checked against each loan's requirements, with gaps and renewals followed up before coverage lapses.
Lease approval requests
Requests to approve new leases and amendments read against the loan agreement's leasing covenants, with the analysis drafted for the asset manager to decide.
Watch list reviews
Quarterly watch list and asset reviews drafted from property financials, inspections and correspondence, for the asset manager and the credit committee to edit.
These are examples of what we can build for commercial real estate lenders. Pick one up as-is, have it tailored to you or suggest something entirely new.
Talk to an engineerWhere to start
For most CRE lenders we recommend starting with rent roll and operating statement normalization, because every deal needs it and every figure can be checked against its source. Lenders with a large construction book often start with draw review instead.
The 4-week Opportunity Evaluation tests that on your own deals and draws before anything is built and says so if a platform you already run does the job.
Questions and answers for commercial real estate lenders
- Does it replace our underwriters or asset managers?
- It replaces the retyping and first read rather than the judgment. Sizing, structure, draw approvals and decisions on borrower requests stay with your team.
- Which property types does it handle?
- It handles multifamily, office, retail, industrial, hospitality and mixed use, each with its own documents and fields. The evaluation starts with the property types that make up most of your pipeline and portfolio.
- Can it work with our underwriting model?
- The systems fill the model and templates you already use, whether a platform or a spreadsheet, so analysts and the credit committee keep the format they know.
A senior team that has done this before
We are a small, entirely senior team with fifty years of combined AI engineering, multiple granted patents and Y Combinator founders, from Yale, MIT, McKinsey, Goldman Sachs, Microsoft and Vista Equity Partners. The people who scope your work are the people who write the code.
Selected work
We built the AI transformation roadmap for a top-50 P&C brokerage, and it is saving the firm millions of dollars in vendor fees it did not need to pay.
Clients include some of the largest banks, RIAs, fintechs and AI labs, as well as a top-3 P&C carrier, a top-10 P&C brokerage, a top-5 trucking brokerage, a leading specialty MGA and a leading trucking MGA.
We run only 3 to 5 engagements at a time, so that every client works directly with the senior team.
About the team- Dozens
- of insurance companies, RIAs, banks and fintechs we have worked with
- 50 yrs
- combined AI engineering experience
- 10+ Patents
- granted to members of the team
- 100%
- of the IP we build is assigned to you
Tell us which workflow costs your team the most time.
A 30-minute call with an engineer usually shows whether something is worth building. Within a week you will have a free written point of view on the two or three opportunities we think are real and what each is worth.