AI credit analyst for private CRE lenders

Augment your underwriting capacity.

Ledgerline extracts the numbers from the loan package and produces an editable credit memo. Every extracted input links to its source, and every calculation shows its formula and assumptions.

View a sample underwritten deal Run your first loan free

First-pass analysis averages 15 minutes in internal testing · Analyst-reviewed pilot package delivered within three hours

ledgerline.tech / deals / The Marlowe Apartments

Frontier document AI

Rent rolls, T-12s, appraisals, OMs, all extracted with page-level citations

Deterministic calculations

DSCR, debt yield, LTV computed in code, not by an LLM

Explainable by design

Inputs link to their source page; metrics expose formula and assumptions

How it works

From a raw loan file to structured credit intelligence.

The automated first pass takes about 15 minutes. During the pilot, the analyst-reviewed package is delivered within three hours.

Extract and reconcile

Ledgerline classifies OMs, rent rolls, T-12s, appraisals, leases and borrower files, then reconciles conflicting financial inputs.

Compute deterministically

DSCR, debt yield, LTV, NOI and other credit metrics are calculated in code rather than generated by an LLM.

Review and deliver

Source-cited risk flags, policy exceptions and an editable credit memo. During the pilot, a credit analyst reviews the package before delivery.

Every extracted input links to its original document and page. Every computed metric exposes its formula, assumptions and source inputs.

Run your first loan free

ledgerline.tech / deals / Harbor View Office Center · Overview

Reconciled inputs & deterministic calculations

The results

Underwrite in hours, not days.

Analyst-reviewed pilot package delivered

15 min

Automated first-pass analysis (internal testing)

Every input
source-linked

Computed metrics expose formula and assumptions

Backing & partners

Built with CRE practitioners. Tested on live institutional underwriting.

Supported by the leaders of Claira and Madison Capital, with three institutional investment teams using Ledgerline today.

Supported by the leaders of

Working with investment teams at

Pricing

Pay for completed underwriting. Not software seats.

Pricing is tied to completed underwriting packages and reserved capacity, not software access.

Pilot

First underwriting package free

then $500–$2,500 per completed underwriting package, based on complexity and turnaround

Pay only for completed underwriting work. No seat fees or upfront implementation fee for the pilot.

Start a pilot

Annual capacity

Custom annual commitment

reserved underwriting capacity for recurring teams

✓Preferred per-output pricing
✓Reserved underwriting capacity
✓Shared deal pipeline
✓Searchable institutional credit history
✓Team collaboration
✓Integrations and priority support

Book a demo

Typical annual engagements start around $25,000.

Enterprise

Custom deployment

for institutions processing high underwriting volume

✓Dedicated deployment
✓Private cloud / VPC
✓Access controls & permissions
✓Audit-ready citations & logs
✓Custom integrations
✓Dedicated support

Discuss an enterprise deployment

Try Ledgerline on one real loan · pay per completed package · reserve annual capacity · deploy across your credit organization.

Team

Built by the people who sat in the seat.

We combine deep CRE expertise with world-class technical execution.

Mathis Hanania

Co-founder & CEO

Former CRE acquisitions analyst at Madison Capital; built AI underwriting workflows and Claira’s CRE vertical. Leads customer development and translates lender requirements into product features.

Madison CapitalNYU Schack

Julien Bergametti

Co-founder & Head of Credit & GTM

Former Société Générale structured finance associate across a $5B+ U.S. CRE loan book. Owns Ledgerline’s credit methodology, underwriting workflows and lender implementation.

Société GénéraleUCLA

Adrien Concordel

Co-founder & CTO

Palantir deployment lead who built Ledgerline’s product, deterministic calculation infrastructure and auditability architecture.

PalantirPolytechniqueMIT

Book a demo

See Ledgerline on your own loan file.

Bring a real deal package. We'll process it live and walk you through the structured record, risk flags, and IC memo it produces.

30-minute working session

Your files stay confidential

First underwriting package free