What enables users to receive tasks and notifications related to loan compliance?

Covenant records serve as a critical component in managing loan compliance by outlining the specific conditions or commitments that borrowers must adhere to throughout the life of the loan. These records help ensure that borrowers are meeting the agreed-upon terms, which can include financial ratios, performance metrics, or other obligations. By establishing these parameters, covenant records allow users to monitor compliance closely.

When lenders use covenant records, they can automate the tracking of compliance-related tasks and notifications. This proactive approach means that users are alerted when a borrower's performance deviates from the outlined covenants, facilitating timely intervention and corrective actions. Such notifications ensure that all parties remain accountable and compliant with loan agreements.

In contrast, review evaluations, loan modifications, and compliance reports play important roles in the loan process but do not directly facilitate the ongoing task and notification system specifically related to compliance. Each of these options serves a different function within the broader context of loan management; however, they do not provide the same structured framework for monitoring compliance as covenant records do.