Spread data once,use it across your portfolio.
Hypha spreads borrower workbooks, T-12s, and operating statements into your chart of accounts with every figure traceable to the source document. Scenario planning, pro formas, covenant tests, and exports in your own templates follow from there.
Manual spreading is slow, error-prone, and impossible to audit.
Manual spreading fails three ways.
Underwriting timelines
Today, an analyst has to re-key a borrower’s T-12 into a spreadsheet, line by line, before the deal can be sized against its DSCR covenant or move to a loan committee. Every file behind it has to wait on that first pass, for private credit and bank lenders alike.
Origination risk
A mistyped cell in a debt yield calculation can carry a loan from a clean approval to a watchlist flag six months later, and nobody may catch it until the borrower’s next reporting cycle.
Portfolio visibility
Each spread lives and dies in the template it was built in. There is no org-level view of your financials, so a question across the book means rebuilding the data first.
What is financial spreading in Hypha?
Hypha normalizes a borrower's financial statements into your chart of accounts, so lending data is organized and attached to each asset with a single record supporting your workflow.
Spread your financials with maximum precision and reusability
Hypha turns raw borrower financials into an analysis-ready spread, tied to source.
From borrower package to structured data
Income statements, balance sheets, cash flow statements, operating statements, or a workbook holding all of them. Hypha detects which sheets hold financials, works out which columns apply to which periods, and separates multi-tab and multi-property files into the right entities. Every figure lands with a citation back to the source cell.
Your chart of accounts, not a generic one
Line items you’ve approved before are filled from your saved mappings. Everything else gets a suggestion with a citation showing how it was derived. Anything not placed from borrower data is left unmapped, so reviews can start where they are most needed. Computed totals are checked against the totals stated in the document, at a tolerance you set. Restated periods, new line items, and figures that disappeared since the last file are flagged before you make final approvals.
Every version of the forecast, side by side
Actuals, budget, forecast, underwriting, appraisal: hold them all against the same period and the same chart of accounts. Layer addbacks and normalizations while the reported numbers stay intact underneath. Build pro formas from the adjusted base, not a fresh spreadsheet.
Export the financials and build on them as you need
Put the data to work inside Hypha using our purpose-built tools, including Deal Analyzer, Covenant Compliance, and portfolio dashboards. You can also push finished financials to PDF and Excel, with line items alongside their mappings, so a reviewer can see exactly which rows produced each number. Fill your firm’s own Excel and Word templates with the latest approved figures.
One spread, many teams
The spread is your living record, where the work starts and continues until a loan’s finalization.
Most spreading tools end at the export. Someone drops the file into a model and the structure dies in the handoff, which is why the next team spreads the same data again and again.
Hypha establishes one financial record per asset and serves it many ways. Underwriters spread once per transaction and need it credit-ready fast. Asset managers spread the same properties statement after statement, quarter after quarter, which is exactly where saved mappings compound. One team’s coverage with the fee left in, another’s with a normalized fee: two correct answers, one set of source lines. What you approve today is what Deal Analyzer and Covenant Compliance read.
Key Metrics
| Metric | Current | MoM Δ | Trend |
|---|---|---|---|
| Portfolio NOI (monthly) | $126,650 | ▲ +$3,150 | |
| Occupancy | 94.8% | ▲ +0.4% | |
| Revenue / Unit | $1,610 | ▲ +$12 | |
| Properties | 4 | — | — |
Implied Collateral Value (Income Approach) — Lakeside 4 (Bridge)
Annualized NOI per property, capitalized at the cap rate below. Cap rate is the only assumption.
| Component | Annualized NOI | Implied Value |
|---|---|---|
| Implied Collateral Value — Loan Total | $1,519,800 | $25,330,000 |
| 111 Falmouth-F | $410,400 | $6,840,000 |
| 114 Fairhaven-F | $357,600 | $5,960,000 |
| 120 Cotuit-F | $407,400 | $6,790,000 |
| 122 Wayland-F | $344,400 | $5,740,000 |
Annualization: Jan – Jun 2024 (6 mos, ×2) · edit and save as a scenario
NOI by property (latest month)
Jun 2024 · Net Operating Income by property on Lakeside 4
NOI by property over time
Monthly NOI per property, Jan – Jun 2024
Why not just use Claude or ChatGPT?
Spreading is how your firm applies its thesis and finds lending deals worth having conviction in. A one-time read of a statement lacks the context, collaboration, and audit trail that Hypha provides you across each deal cycle.
Hypha is built on your firm’s context: a figure is understood as a line item in a statement, mapped into your chart of accounts, checked against the stated totals, and every correction your team makes becomes firm-level memory, applied to the next document automatically. Generic AI starts from scratch every time. Hypha compounds.
Generic AI doesn’t know your chart of accounts. It maps the same line item differently every time, fills gaps with its best guess, and cites nothing. You have to recheck every cell by hand. And it starts from scratch every time.
Smarter and faster on every spread
The review upholds your conviction instead of functioning as a fallback
Spreading is where your standards get applied, so the person applying them matters. Hypha maps and a named person approves. Comments sit on the cell, adjustments carry a note, and six months later the reasoning is still attached. And corrections compound: a mapping you fix once is reused the next time Hypha sees that line item. The 10th statement takes a fraction of the review the first did.
Trust
A traceable number creates security across your lending process
Every finalized figure ties to the rows that produced it on Hypha, and you can walk it back: finalized view, to the mapped line items, to the cell in the document. Nothing becomes structured data until a named person approves it, and the record shows who. That history cannot be edited by anyone. When a borrower restates a prior period, both versions are preserved and you choose which to carry forward. Hypha is SOC 2 compliant and all data is transmitted using TLS 1.3 encryption. You can deploy in Hypha’s environment or on your own infrastructure, with redaction that strips sensitive fields before documents enter the platform.
Let us show you what we can do with your most sophisticated workbook
Bring us a historical financing package and we will set up a controlled environment to prove how our workflow will help scale your commercial real estate lending activity.
FAQ
Financial spreading is the process of normalizing a borrower's financial statements (income statement, balance sheet, cash flow, operating statements) into a lender's standardized chart of accounts, so every borrower and period can be compared on the same basis. In Hypha the result persists as a structured record attached to the asset.
Income statements, balance sheets, cash flow statements, operating statements, T-12s, rent rolls, and workbooks containing several of these, including multi-tab and multi-property files, which Hypha separates into the right entities as it processes them.
Yes. Hypha spreads any financial document into the chart of accounts it belongs to. Personal and entity tax returns map to your global analysis model; property financials map to your property model. Each document type routes to the right spread automatically.
Yours. It's embedded during implementation and every line item maps into it. Your chart of accounts encodes how your firm evaluates risk, so replacing it with a generic one would defeat the purpose.
Hypha extracts at 97% accuracy, and it compares its computed totals against the totals stated in the source, at a tolerance you set. Every suggested mapping carries a citation, anything it can't confidently place is left unmapped, and nothing becomes structured data until a named person approves it.
Hypha flags it before you approve: restated values, new line items, ones that have disappeared, new periods, all highlighted. Restatement is normal for serious operators, so it's handled in review rather than discovered later.
Yes. Adjustments are added as separate lines with a label and a note, so the reported figure and your adjustment stay distinguishable. Every adjustment is tracked in the audit trail.
This is the point. Spread data feeds scenario planning (actuals against budget, underwriting, or appraisal for the same period), plus adjusted views with addbacks and normalizations, and pro formas built from the adjusted base. The same data flows into covenant compliance and portfolio monitoring, or exports into your own templates.
A general model can read a spreadsheet. What it can't know is what the file represents in your firm's terms: which tab is authoritative, how you treat a normalized management fee, what you allow as an add-back. Hypha supplies the context, the collaboration, and the audit trail, and every correction your team makes is applied to the next document automatically.
Yes. Approved mappings are saved and reused the next time Hypha sees the same line items, and carry across the remaining sheets of a workbook. Review effort drops sharply from the first statement to the tenth.
Yes, and no. Export to Excel gives you the finalized figures in your chart of accounts plus the source line items alongside their mappings. Your existing Excel models, memo formats, and templates embed into Hypha during implementation, so output arrives in the exact format your team already uses.