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Covenant Monitoring

Each reporting period, financial covenants are tested against the borrower's latest statements — minimum DSCR, maximum LTV, reporting requirements. A breach routes to the officer for a cure plan, waiver, or downgrade.

Covenants recomputed against the latest financials as they arrive.Testing2A covenant is out of compliance. Officer decides: cure plan, waiver, or downgrade.Breach3Breach cured, waived, or reflected in the risk grade.Resolved1
flowapproved / fundedexception / returneddeniednloans in stage
Stage detail
  1. 1Testing

    Covenants recomputed against the latest financials as they arrive.

    Exit: Covenants tested

  2. 2Breach

    A covenant is out of compliance. Officer decides: cure plan, waiver, or downgrade.

    Exit: Cure plan or waiver

Outcomes
  • Resolved

    Breach cured, waived, or reflected in the risk grade.

Testing2
Covenants recomputed against the latest financials as they arrive.
COV-4CRE Term
Marian High School
$2,450,000
NDCU-CRE-1103 · School campus
DSCR1.80LTV60%Grade2
Covenant
EBEllen Brauer
100%
3d
0
COV-5CRE Term
St. Joseph Regional Med Plaza
$5,600,000
NDCU-CRE-1125 · Medical office building
DSCR1.68LTV63%Grade2
Covenant
EBEllen Brauer
100%
3d
0
Breach3
A covenant is out of compliance. Officer decides: cure plan, waiver, or downgrade.
COV-1C&I Term
Corby's Irish Pub LLC
$340,000
NDCU-CI-1088 · Restaurant / Hospitality
DSCR0.94Grade7
Breach
SKSuzanne Kost
30%
3d
Aug 31
0
COV-2C&I Term
Cavanaugh Hospitality Group
$880,000
NDCU-CI-1160 · Hospitality
DSCR1.05Grade7
Breach
SKSuzanne Kost
30%
3d
Aug 31
0
COV-3CRE Term
Holy Cross Village
$4,200,000
NDCU-CRE-1055 · Senior living campus
DSCR1.34LTV84%Grade5
Breach
MRMarcus Reilly
55%
3d
Sep 5
0
Resolved1
Breach cured, waived, or reflected in the risk grade.
COV-6CRE Term
Dujarie Properties LLC
$1,540,000
NDCU-CRE-1090 · Mixed-use CRE
DSCR1.44LTV67%Grade3
Covenant
MRMarcus Reilly
100%
3d
0