Post-close and covenant exceptions
How do we track post-closing documents and loan covenants so exceptions are logged automatically and chased with the borrower until they clear?
Turn the closing checklist and the covenant schedule into a case that never closes until it is clean. After closing, Callvu checks the signed documents against the checklist and logs each exception; at each covenant date it requests the financials from the borrower, reads them, tests the covenant, and logs a breach; every exception is chased with the party that owes it on a schedule, and credit administration sees the aging and decides waivers in the Decision Desk.
In scopeComplex: multi-party handoffsCallvu moves: chase and verify, classify
Last updated November 7, 2026.
The problem today
The exception report is a spreadsheet, and the covenant that was breached in March is found at the annual review.
After a commercial loan closes, someone checks the signed package against a checklist and notes what is missing: a recorded deed of trust, a UCC filing, an insurance endorsement, a missing signature. The exceptions go on a spreadsheet. The borrower is asked when someone has time. Covenant compliance certificates and quarterly financials are due by the loan agreement, arrive or not, and are tested when the analyst gets to them.
Examiners treat the exception report as a measure of credit administration. Stale exceptions and untested covenants are findings, and a breached covenant that went unnoticed is a loan the bank did not manage. Collateral perfection has its own deadlines, and a late filing is a lost position.
The work is repetitive and date-driven, which is what a process is for.
How it runs
From the requestto the system of record.
A loan closes in the loan system, which starts the post-closing check; each covenant and reporting date in the loan agreement starts a covenant case. Callvu runs both from the loan record.
- Borrower
- Provides the post-closing items they owe and the financial statements and compliance certificates on each date, through links.
- Loan operations
- Owns the post-closing checklist and the exceptions it logs.
- Credit administration
- Tests covenants, decides waivers and sees the exception aging in the Decision Desk.
- Relationship manager
- Is informed of aging exceptions and breaches, and talks to the borrower where a person must.
- Callvu
- Checks documents, logs exceptions, requests and reads financials, tests covenants, chases every party and records.
Chase and verify the closing package
The signed documents are read and checked against the closing checklist for the loan type: signatures, notarizations, recording information on the security instrument, UCC filings and their acknowledgments, insurance endorsements naming the bank, guaranties, and the conditions from the approval. Each gap is logged as an exception with the party that owes it.
Classify each exception
Exceptions are classified by type, severity and owner (the borrower, the title company, the bank's own filing), with the deadline the item carries (a recording or filing deadline, an insurance expiry, an approval condition date). The classification sets the chase schedule and whether credit administration must decide a waiver.
Covenant dates
At each reporting date in the loan agreement, the borrower is asked for the financial statements and the compliance certificate through a link. Documents are read as they arrive, the covenant ratios are computed and tested against the thresholds, and a breach is logged as an exception with the date.
Chase and decide
Every open exception is chased with its owner on the schedule, with the aging visible to credit administration and the relationship manager. A waiver request, a breach, or an exception past the policy's age goes to credit administration in the Decision Desk with only the allowed outcomes: waive with conditions, extend, require cure, or escalate.
Write back
Cleared exceptions, waivers, covenant test results and the documents are written to the loan system, and the exception report is produced from the record, not a spreadsheet.
Where it ends: Every post-closing item and covenant has a status, an owner and a date in the loan system, breaches are found on the date they occur, and the exception report is the record. The Decision Trace shows each check and test; the Audit Trace shows every request, document and decision.
Runtime enforcement
What is enforcedwhile the work runs.
The regulations preloaded in Callvu Studio and the bank's own policies, applied as steps that run, not lines in a binder. A step that breaks a rule does not run, so a completed run was compliant.
The handoff
Between the front doorand the back office.
The front door
The closing in the loan system and the covenant calendar. The borrower meets the process through links for the items they owe.
The back office
Loan operations and credit administration work from one exception record with aging, and the relationship manager is informed, not tasked with chasing.
The Decision Desk
- A waiver request, a covenant breach, or an exception past the policy's age goes to credit administration in the Decision Desk with the loan, the history and only the allowed outcomes.
Proof
In scope.Proof at scale, not one process at a time.
The kind of process Callvu runs in production for customers in this industry. Ask for a reference on this exact process. The results below are the industry's published proof; each claim code links to its record on agents.callvu.com.
Questions
What buyers ask next,answered plainly.
How are exceptions found?
The signed package is read and checked against the closing checklist for the loan type, and each gap is logged with its owner and deadline.
How are covenants tested?
The borrower sends financials through a link on each reporting date; Callvu reads them, computes the ratios and tests them, and logs a breach with the date.
Who can waive?
Credit administration, in the Decision Desk, with conditions recorded. Nobody waives in a spreadsheet.
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