Titleman Underwriting takes the documents of one commercial real estate asset and returns income, debt, returns and scenarios with each figure tied to its source, an IC memo and a presentation. Across completed production runs in the 30 days to 18 October 2026, the median time from the request to the delivered files was about 58 minutes.
Published by Titleman, which makes the product described. Updated 22 October 2026.
Specification at a glance
| Item | Specification |
|---|---|
| Job | Underwrites one asset: income, debt, returns and scenarios |
| Unit of work | One address per run |
| Inputs | PDF, XLSX, CSV and DOC files, or a ZIP folder |
| Outputs | IC memo (PDF, DOCX), presentation (PPTX, PDF), full report; Excel model on request |
| Median time | About 58 minutes (30 days to 18 October 2026) |
| Slowest tenth | Longer than about 95 minutes |
| Accuracy | No error rate measured on real client deals |
| Not a | Licensed appraisal or investment decision |
Inputs
| Input | Role |
|---|---|
| T-12 and rent roll | The documents that change the answer most |
| Offering memorandum | Read and reconciled against the T-12 and the rent roll |
| Operating statement, debt terms, capex budget | Used when sent |
| Assumptions | Hold period, exit cap rate, rent growth, vacancy, operating expense growth, management fee and more, saved once and applied to every run |
| Note before the run | The debt or scenario you want tested |
Every file is classified and read on arrival. The figures the documents state win over an assumption.
Outputs
- IC memo as PDF and DOCX.
- Presentation as PPTX and PDF.
- Full report, in the run room, with every stated figure.
- Excel model, built on request. It does not come back on every run.
Measured time
The clock is the time from the request to the delivered files, over completed production runs created in the 30 days to 18 October 2026, the same clock for every product. For underwriting it gave a median of about 58 minutes, and one run in ten took longer than about 95.
Limits
- One asset per run. A list of addresses is a different product, BOV at scale.
- Thin without documents. With no documents the income section is built from records and is thin.
- Debt you do not state is inferred. State leverage, rate, term and amortization if you want them tested.
- Local rules. Local tax and tenure rules are not applied automatically. State the ones that matter in the note.
- House assumptions. Unless you set your own, the shipped defaults apply.
What it does not replace
Underwriting does not replace your investment committee, your lender's credit process or a licensed appraisal. It prepares the analysis and the memo for a professional to read, correct and sign. Where a figure is not in your documents or on record, it is marked as not found and not guessed.
How these figures were measured
Source: run records of the Titleman AI engine, completed production runs created in the 30 days to 18 October 2026, timed from the request to the delivered files. The median is rounded up to the whole minute. Accuracy has not been measured against real client deals, and no accuracy figure is claimed.
Frequently asked questions
How long does it take? A median of about 58 minutes, and one run in ten longer than about 95, in the 30 days to 18 October 2026.
What do I send? The T-12, the rent roll and the offering memorandum, plus anything else you hold, as PDF, XLSX, CSV, DOC or a ZIP folder.
What comes back? An IC memo, a presentation and the full report. An Excel model is built on request.
Which figures win? The ones your documents state.
Does it replace the committee or an appraisal? No.
To see your own T-12, rent roll and offering memorandum underwritten, request a demo. A longer description is in real estate underwriting AI.