Following the nightly scan of Covenant Management records, what object is created to assist with resolving covenants?

The correct answer is that the object created to assist with resolving covenants is the Covenant Record Compliance. In the context of nCino's Covenant Management feature, this object plays a vital role in tracking and managing the compliance status of covenants associated with loans.

When the nightly scan takes place, it assesses the status of the covenants for each loan and generates a Covenant Record Compliance to indicate any compliance issues or necessary actions required. This allows bankers and compliance officers to monitor covenant performance effectively and ensure that any potential breaches are addressed promptly, maintaining regulatory and loan agreement standards.

By utilizing the Covenant Record Compliance, users can have a clear view of the compliance situation for each covenant, making it easier to take appropriate remedial actions. This enhances the overall monitoring and management process, ensuring that the institution remains proactive in addressing covenant-related challenges.