Lender execution scorecard

How to use

Use this scorecard alongside the price comparison when picking a winner from the bake-off. Each lender gets a score on six execution dimensions. A lender quoting 10 bps tighter but scoring 6 points lower on execution is often the wrong choice on a time-sensitive deal.

Dimension 1. Pull-through history (max 5)

What percentage of term sheets this lender has signed in the last 18 months actually closed at the quoted terms? Reliable lenders run 80%+; weaker shops run 50% to 60%.

• 5 = >85% pull-through, multiple recent comparable closings.
• 3 = 70% to 85% pull-through, some recent comparable closings.
• 1 = <70% pull-through or limited comparable history.

Dimension 2. Retrade history (max 5)

Of the deals that closed, what percentage closed at exactly the quoted terms? Retrades on spread, proceeds, or structure are the most common form of execution slippage.

• 5 = no retrades on similar deals in last 12 months.
• 3 = occasional retrades, typically <25 bps or modest proceeds adjustment.
• 1 = pattern of material retrades.

Dimension 3. Credit-committee predictability (max 5)

How well does the deal team know its credit committee? Strong banker relationships at the originator level are the largest predictor of credit-committee outcomes.

• 5 = senior originator with multi-year tenure, predictable committee outcomes.
• 3 = competent originator, occasional committee surprise.
• 1 = newer originator or shop with high committee variance.

Dimension 4. Closing-team capacity (max 5)

Does the lender have closing staff to actually run the diligence and document the deal on schedule, or is the closing team overloaded?

• 5 = experienced closing team with documented capacity.
• 3 = competent team but currently busy.
• 1 = closing team thin or stretched.

Dimension 5. Capital availability and discipline (max 5)

Does the lender have capital? Is the spread quoted reflective of where the lender's actually trading new business, or is it a placeholder?

• 5 = active in market, recent comparable closings at quoted spread.
• 3 = in market but limited recent comp activity.
• 1 = quote may not reflect current capital availability.

Dimension 6. Servicing and post-close behavior (max 5)

If the deal hits a bump in year 2, does this lender behave well? Servicing experience matters more on bridge and construction than on stabilized perm.

• 5 = strong servicing track record, sponsor-friendly modifications.
• 3 = competent servicing, standard process.
• 1 = punitive servicing or weak workout history.

Score interpretation

Total score is out of 30. Combine with the price comparison: lenders within 5 points are roughly equivalent on execution and the price wins; gaps of 10+ points should override modest price differences.

Execution scoring