What is the loan origination process?

Loan origination is a process by which a borrower applies for a loan, and a lender disburses it or rejects the application. The origination process includes every step from application to funding disbursement, or rejection of the application. Depending on the type of loan, the origination process differs in the workflow, however they broadly cover these steps in some sequence or the other as defined by the lender’s business policy.
  • Application
  • Pre-Qualification
  • Application Processing
  • Underwriting
  • Credit Decisioning
  • Funding
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    • June 15, 2021