H156 shows "1.25x" in red when the true value is 1.2466 (model_summary, synced 6/11). Warren: "never round up across a threshold." Trump: "loan committees do not round up." Ive adds the color logic is inverted: DSCR initial 0.21x sits in plain black. Fix: show 1.247x, one color rule, strip decorative colors.
H155's PIP renders 0/0/0 when the truth is "IHG PIP issued 5/15/2026, scope-only, unpriced." Warren calls that zero "the single most dangerous pixel in the product." Fix: provenance tags (ask / stance / placeholder / unpriced) on every model-card number; "UNPRICED" in amber, never $0.
Every board card has a live "to LOI" button regardless of financials, FIT score, recommendation, or walk price (FIT unpopulated on all 9 deals, per packet). Warren: gate stage moves and gray the button with the reason. Trump: no LOI without Entity Strategy and Target Debt Vehicle defined.
H156's $15.9M ceiling at 1.25x exists only inside the thesis text box. Warren wants Walk A/B in the database, on the Decision tab and board card, auto-computed from the model's 1.25x solve. Trump confirms lenders size off them.
The H156 compset headline compares subject TTM through 2026-04 against a cohort through 2026-05; tour-four index periods span 2026-03 vs 2026-04 (hand-keyed); the same deal page shows two different TTM RevPARs ($93.30 header, $94.92 compset) with no reconciliation. Fix: one canonical, auto-derived index period per deal plus staleness badges.
All four tour deals lean on the same expense pegs, financing sketch, and Houston submarket. Warren wants a cross-deal assumption register with one-click stress (pegs +10%, rate +100bps). Wynn pairs it with the revenue-quality hole: no segmentation, contract dependence, or booking windows anywhere, critical for the two airport deals.
Trump: Total Uses + Y1 DSCR badges per card ("bankability at a glance"). Wynn: "a pipeline of hotels with no index on the card is a pipeline of addresses." Ive: demote the nine red Pass pills, let names wrap so the two DoubleTrees are distinguishable, stop giving three empty columns half the canvas.
Flat Drive links today. Trump: track Phase I, ALTA survey, title, 3 years of tax bills as present-vs-missing. Warren: "the checklist IS the diligence gate." Wynn adds "latest STAR month on file" as the most important freshness fact. Ive: an expected-vs-present list turns emptiness into information.
| Theme | Warren | Wynn | Trump | Ive |
|---|---|---|---|---|
| DSCR display truth (precision + one color rule) | #3 | - | #3 | #1 |
| Unpriced / placeholder provenance tags | #3 | - | - | #2 |
| Stage gates that refuse | #1 | - | #4 | - |
| Walk A/B prices in the database | #2 | - | yes | - |
| Index clock alignment + staleness badges | - | #1 | - | #5 |
| Compset MPI/ARI decomposition + reconciliation referee | - | #2 #4 | - | - |
| Revenue-quality block (segments, contracts, booking window) | - | #3 | - | - |
| Capture thesis required on rate-gap upside | - | #5 | - | - |
| Cross-deal assumption register + stress view | #4 | - | - | - |
| Board cards carry economics / indices | - | yes | #1 | #3 |
| Lender document checklist | yes | yes | #2 | yes |
| Cost-seg, entity strategy, debt vehicle fields | - | - | #4 #5 | - |
| Model-sync staleness enforcement | #5 | - | - | - |
| Decision tab: verdict gets visual weight | - | - | - | #4 |
# = that advisor's ranked top-5 position; "yes" = endorsed in their notes. Source: the four memos, vault panel note 2026-06-11.
DSCR precision + one color rule. Designed unpriced states (kill the $0 PIPs and the empty "Deal economics" card). Board cleanup: Pass demoted, names wrap, empty columns shrink.
Walk A/B fields with the 1.25x ceiling auto-computed from the model. Lender document checklist. Index-period alignment + staleness badges. Model-sync staleness enforcement.
Stage gates that refuse. Cross-deal assumption register with stress view. Revenue-quality block. Compset reconciliation view. Cost-seg / entity / debt-vehicle fields.
"The pipeline is a good filing cabinet and a half-built credit committee... A decision instrument is defined by what it refuses to let you do, and this one refuses nothing... A pipeline that will advance any deal is a list. A pipeline that won't advance an unfinished one is a credit committee."
"A competent financial filing cabinet wearing a market-intelligence costume... It compares numbers across misaligned clocks... A number without an honest comparison is noise, and right now the comparisons are not honest enough to price a deal off."
"The pipeline treats real estate like a cash business. Real estate is a leverage and tax business... We are tracking deals without tracking how to fund them or shelter their income."
"For a product whose entire job is to be believed, the details are not cosmetic. They are the credibility... What remains is care at the surface, and that is the cheapest of these problems to solve and the most expensive to leave."