Replay of a real run — captured 2 Jul 2026
Spark
Loan & Card Decisioning Agent
Every step below is a real trace event from the signed run ledger.
sc-spark-aarvion
Transcript
I'll pull all three data sources simultaneously to get started.
Got the application and policy. Now pulling the credit report.
All data in hand. Let me work through the underwriting analysis before recording.
Underwriting Analysis — L3 (Auto)
1. Score Band
| Metric | Value | Policy |
|---|---|---|
| Bureau score | 686 | Min 600 for auto |
| Band | Near-prime (660–719) | pass Qualifies |
2. Capacity — DTI
- Monthly gross income: $64,000 ÷ 12 = $5,333.33
- Existing monthly debt: $700
- Proposed auto payment at near-prime rate (9.49%, 60 mo, $22,000): ≈$462
- Total monthly obligations: $700 + $462 = $1,162
- DTI = $1,162 / $5,333 = 21.8% ✅ Well below 45% max
3. Collateral — LTV
- Requested: $22,000 | Vehicle value: $21,000
- LTV = $22,000 / $21,000 = 104.8% ✅ Below 125% max
4. Credit Quality
| Factor | Detail |
|---|---|
| Utilization | 34% — moderate, within norms |
| Tradelines | 2, all current — card + student loan |
| Derogatories | None |
| Public records | None |
| Inquiries (6 mo) | 2 — routine |
| Oldest account | 72 months — adequate history |
| Thin file | No |
Clean near-prime file — no hard fails, no refer triggers. Decision: APPROVE at 9.49% APR (near-prime rate).
A governance control blocked the approval — LTV of 104.8% (loan $22,000 > vehicle value $21,000) triggers a mandatory secondary-review rule for any LTV above 100%. The directive is to restructure below 100% LTV. I'll issue a counteroffer at $20,000, which brings LTV to 95.2% (well below the threshold) while keeping the applicant's score-band rate intact.
Revised terms check at $20,000:
- Monthly payment (9.49%, 60 mo): ≈$420
- Total monthly obligations: $700 + $420 = $1,120
- DTI: $1,120 / $5,333 = 21.0% ✅
- LTV: $20,000 / $21,000 = 95.2% ✅
Governed in flight by aarvion · 7 seams checked · 1 allowed · 1 blocked
The decision brief
Decision Recorded — L3: COUNTEROFFER
| Item | Detail |
|---|---|
| Decision | Counteroffer |
| Score / Band | 686 — Near-prime |
| APR | 9.49% (near-prime policy rate, unchanged) |
| Offered amount | $20,000 (requested: $22,000) |
| Term | 60 months |
| Est. monthly payment | ≈ $420 |
| DTI (post-loan) | 21.0% pass (max 45%) |
| LTV | 95.2% pass (must be < 100% per governance; originally 104.8%) |
Why Not the Full $22,000?
The requested amount exceeded the vehicle's $21,000 collateral value, producing an LTV of 104.8%. A governance control (cadre_us_regs_v1) requires that any LTV above 100% be restructured or counteroffered rather than auto-approved. The loan was reduced to $20,000, bringing LTV to 95.2%.
All Other Factors Clear
- No derogatories, no public records, no thin-file concerns
- Strong repayment capacity (DTI barely 21%)
- Stable 40-month salaried employment
- The applicant qualifies for the full near-prime rate — no rate penalty in the counteroffer
The applicant can accept by covering the $2,000 difference with a larger down payment.