This reference guide provides complete definitions for all application statuses in SavvyMoney. Understanding these statuses is essential for managing applications throughout their lifecycle.
Status Overview
Applications progress through various statuses as they move from submission to funding (or decline). The status indicates where an application is in the workflow and what action, if any, is needed.
Status Categories
| Category | Description |
|---|
| Initial | Application just received |
| Processing | Application being worked |
| Decision | Underwriting complete |
| Documentation | Documents pending |
| Closing | Ready for or in closing |
| Funded | Loan funded |
| Declined | Application not approved |
| Withdrawn | Application canceled |
Complete Status List
Application Intake Statuses
| Status | Code | Description | Next Steps |
|---|
| New | NEW | Application just received | Initial review |
| Incomplete | INC | Missing required information | Contact applicant |
| Complete | CMP | All required data received | Ready for processing |
| In Queue | INQ | Waiting for assignment | Assign to processor |
Processing Statuses
| Status | Code | Description | Next Steps |
|---|
| Assigned | ASN | Assigned to processor | Begin processing |
| In Process | INP | Actively being worked | Continue processing |
| On Hold | HLD | Temporarily paused | Address hold reason |
| Pending Information | PIF | Waiting for applicant info | Follow up |
| Under Review | UNR | Manual review in progress | Complete review |
Decision Statuses
| Status | Code | Description | Next Steps |
|---|
| Pre-Qualified | PQF | Soft pull complete, estimated offer | Convert to full app |
| Pre-Approved | PAP | Conditional approval given | Complete verification |
| Approved | APR | Full approval granted | Proceed to closing |
| Conditionally Approved | CAP | Approved with stipulations | Clear conditions |
| Counter Offer | CTR | Different terms offered | Await response |
| Referred | REF | Sent for manual review | Underwriter review |
| Declined | DEC | Application declined | Send adverse action |
Documentation Statuses
| Status | Code | Description | Next Steps |
|---|
| Documents Requested | DRQ | Docs requested from applicant | Await documents |
| Documents Received | DRC | Documents uploaded | Review documents |
| Documents Under Review | DUR | Documents being evaluated | Complete review |
| Documents Approved | DAP | Documents accepted | Proceed to next step |
| Documents Rejected | DRJ | Documents not acceptable | Re-request |
Stipulation Statuses
| Status | Code | Description | Next Steps |
|---|
| Stipulations Outstanding | STO | Stips not yet satisfied | Track stips |
| Stipulations Received | STR | Stips submitted | Review stips |
| Stipulations Cleared | STC | All stips satisfied | Proceed to closing |
| Stipulations Waived | STW | Stips waived | Document waiver |
Closing Statuses
| Status | Code | Description | Next Steps |
|---|
| Ready for Closing | RFC | All conditions met | Schedule closing |
| Documents Sent | DSN | Closing docs sent for signature | Await signatures |
| Closing Scheduled | CLS | Closing appointment set | Complete closing |
| Documents Signed | DSG | All docs signed | Process for funding |
| Closing Complete | CLO | Closing finished | Fund loan |
Funding Statuses
| Status | Code | Description | Next Steps |
|---|
| Ready to Fund | RTF | Approved for funding | Initiate funding |
| Funding in Progress | FIP | Disbursement in process | Monitor |
| Funded | FND | Funds disbursed | Complete |
| Funding Delayed | FDL | Issue with funding | Resolve issue |
| Funding Failed | FFL | Funding unsuccessful | Investigate |
Final Statuses
| Status | Code | Description | Notes |
|---|
| Funded - Complete | FNC | Loan fully funded | End state |
| Declined - Final | DCF | Final decline | End state |
| Withdrawn - Applicant | WDA | Applicant withdrew | End state |
| Withdrawn - Institution | WDI | Institution withdrew | End state |
| Expired | EXP | Application expired | End state |
| Cancelled | CAN | Application cancelled | End state |
Special Statuses
| Status | Code | Description | Next Steps |
|---|
| Fraud Review | FRV | Flagged for fraud review | Investigate |
| Fraud Confirmed | FRC | Fraud verified | Decline, report |
| Duplicate | DUP | Duplicate application | Merge or remove |
| Error | ERR | System error occurred | Technical review |
Decline Type Reference
HARD Decline Reasons
Reasons that result in a definitive decline:
| Reason Code | Description |
|---|
| HC01 | Credit score below minimum |
| HC02 | Bankruptcy within exclusion period |
| HC03 | Previous charge-off with institution |
| HC04 | Active fraud alert |
| HC05 | Does not meet membership eligibility |
| HC06 | Legal prohibition |
| HC07 | OFAC list match |
| HC08 | Identity verification failed |
SOFT Decline Reasons
Reasons that may be overcome:
| Reason Code | Description |
|---|
| SC01 | Debt-to-income too high |
| SC02 | Insufficient income |
| SC03 | Collateral inadequate |
| SC04 | Employment not verified |
| SC05 | Insufficient credit history |
| SC06 | Recent delinquencies |
| SC07 | High credit utilization |
| SC08 | Geographic restriction |
PEND Reasons
Reasons for pending status:
| Reason Code | Description |
|---|
| PC01 | Income documentation needed |
| PC02 | Employment verification pending |
| PC03 | Collateral information required |
| PC04 | Identity verification needed |
| PC05 | Co-applicant information needed |
| PC06 | Additional review required |
Status Transitions
Typical Approval Flow
NEW → ASSIGNED → IN PROCESS → APPROVED →
READY FOR CLOSING → DOCUMENTS SIGNED →
FUNDED → FUNDED-COMPLETE
Typical Decline Flow
NEW → ASSIGNED → IN PROCESS → DECLINED →
DECLINED-FINAL (after adverse action sent)
Withdrawal Flow
[Any Status] → WITHDRAWN-APPLICANT
or
[Any Status] → WITHDRAWN-INSTITUTION
Status-Based Actions
Actions by Status
| Status | Available Actions |
|---|
| NEW | Assign, Process, Decline |
| IN PROCESS | Update, Request Docs, Decide |
| APPROVED | Generate Docs, Counter, Rescind |
| DECLINED | Send Adverse Action, Reopen |
| FUNDED | View Only |
Restricted Transitions
Some transitions require special permissions:
| From | To | Requires |
|---|
| DECLINED | APPROVED | Senior underwriter |
| FUNDED | DECLINED | Manager + compliance |
| Any | WITHDRAWN | Documented reason |
| Any | FRAUD | Fraud review team |
Queue Mapping
Statuses map to queues for workflow management:
| Queue | Statuses Included |
|---|
| New Applications | NEW, COMPLETE |
| My Queue | ASSIGNED (to user) |
| Processing | IN PROCESS |
| Pending | PENDING INFORMATION |
| Underwriting | REFERRED, UNDER REVIEW |
| Closing | READY FOR CLOSING, CLOSING SCHEDULED |
| Funding | READY TO FUND, FUNDING IN PROGRESS |
| Declined | DECLINED |
| Funded | FUNDED |
Reporting by Status
Status Aging
Track time in status:
| Status | Warning | Alert | Action |
|---|
| NEW | 1 day | 2 days | Assign |
| IN PROCESS | 2 days | 5 days | Review |
| PENDING INFO | 7 days | 14 days | Follow up |
| APPROVED | 3 days | 7 days | Close |
| READY TO FUND | 1 day | 3 days | Fund |
Status Metrics
| Metric | Calculation |
|---|
| Approval Rate | APPROVED ÷ (APPROVED + DECLINED) |
| Pull-Through | FUNDED ÷ NEW |
| Pending Rate | PENDING statuses ÷ Total Active |
| Decline Rate | DECLINED ÷ Total Decisions |
Troubleshooting
Status Issues
| Issue | Solution |
|---|
| Can't change status | Check permissions, verify valid transition |
| Status stuck | Review system errors, contact support |
| Wrong status showing | Refresh screen, check for pending actions |
| Status changed unexpectedly | Check audit log for who/when/why |
Common Questions
Q: Can I reopen a declined application?
A: Yes, with appropriate permissions and documentation. A new credit pull may be required.
Q: How long before an application expires?
A: Typically 30-90 days of inactivity, depending on your institution's settings.
Q: What happens to withdrawn applications?
A: They remain in the system for reporting purposes but cannot be reactivated.
Q: Can funded loans be reversed?
A: Only in specific circumstances with manager and compliance approval.
This completes the SavvyMoney Documentation. Return to Getting Started to begin.