Loan Status Setup
Use to create additional loan statuses.
The application provides a list of standard loan status types so that status updates can be entered for each of the loans that exist in the application.
Loan officers can use these statuses to track the progress of loans through their loan pipelines. Statuses are also used for field mapping purposes. The standard types are:
- Booked/Active
- Booked/Inactive
- Pricing
- Requires Review
- Requires Approval
- Lost
If you want to increase the granularity of the statuses used to track loans, you can create additional loan statuses. These statuses are still tied to the standard types.