Check borrower spreads for covenant exceptions

Why use this

1. An underwriting reviewer may need to trace a possible covenant exception through financial statements, assumptions and spreadsheet formulas. A narrative summary alone can obscure which input or cell requires review.

2. This job could prepare a cell-referenced evidence brief that makes unsupported assumptions and policy questions visible. It supports qualified review while leaving model changes, credit judgments and any borrower consequence with authorized humans.

Why an agent / simpler alternative

Useful judgment

Map workbook calculations to supplied policy definitions and source evidence, distinguishing exceptions from missing information.

Simpler alternative

Use established spreadsheet controls when calculations and policy tests are already standardized.

Unsuitable when

The workflow would decide credit eligibility, infer sensitive borrower traits or revise underwriting assumptions without qualified approval.

Proposed inputs

1. Name

   Underwriting workbook copy

   Owner

   Authorized credit team

   Minimum scope

   Relevant sheets, formulas and cell references

   Quality check

   Preserve version and distinguish inputs from calculations

2. Name

   Financial/policy evidence

   Owner

   Qualified reviewer

   Minimum scope

   Approved financial extracts, peer definitions and covenant rules

   Quality check

   Check periods, units and authority

Access and setup — proposed or unknown

Proposed minimum

1. Use fictional financials and a workbook schema; no borrower account access, paid data retrieval or model edits.

Compatibility unknowns

1. Current data-provider access, formula evaluation, workbook tooling and runtime compatibility are unknown.

External actions requiring approval

1. Accessing or sharing financial information, changing models/memos and making credit commitments requires appropriate authorization.

Expected deliverable and review checks

Proposed artifact

Exception-brief candidate with cell pointers, source basis, missing assumptions and reviewer questions.

Critical checks

1. Verify metric definitions, periods and formula lineage; separate policy exceptions from credit recommendations; retain uncertain evidence.

Missing output evidence

This overlay adds no new output inspection, execution or validation; consult the referenced canonical source outcome limits.

Failure signals and proposed responses

1. Signal

   A ratio uses a different definition from the covenant

   Why it matters

   A comparison may flag the wrong exception

   Proposed response

   Align definitions or mark the test unresolved.

2. Signal

   A pasted value replaces a formula

   Why it matters

   The model's lineage is obscured

   Proposed response

   Identify the cell and request the authoritative calculation.

Effort and cost — unknown

Setup work

1. Define policy tests and workbook-reference conventions.

Ongoing review

1. Qualified reviewers verify figures and own all decisions.

Unknowns

1. Data rights, statement quality, calculation compatibility and professional-review effort are unknown.

First check — proposed, unexecuted

Status

proposed_unexecuted

Synthetic fixture

Invent a workbook excerpt with a period mismatch, unexplained override and covenant definition; prepare reference-linked questions only.

Acceptance checks

1. Flag mismatches; preserve cell IDs; make no eligibility, credit or financial recommendation.

Stop conditions

1. Stop if sensitive access is unapproved or a finding requires unsupported policy interpretation.

Limits

1. A cell-linked brief cannot establish borrower creditworthiness, covenant compliance or the correctness of an underwriting decision.