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Status overview

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Typical lifecycle flow

The standard progression for a loan that closes successfully:

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Underwriting loop

It is common for a loan to cycle between Approved w/ Conditions and Resubmitted multiple times. The underwriter may issue additional conditions after each resubmission. The loan remains in this loop until all conditions are cleared, at which point it moves to Clear to Close.

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Terminal status

Adverse is the terminal status for loans that do not close. Use it for:
  • Denied applications (underwriter declined the loan)
  • Withdrawn applications (borrower decided not to proceed)
  • Cancelled loans (deal fell through for any reason)
A loan can move to Adverse from any other status.

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Status badges

Each status is displayed with a color-coded badge throughout the application:

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How to change a loan’s status

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From the loan detail page (Overview tab)

  1. Navigate to the loan detail page by clicking a loan in the pipeline.
  2. Click the Edit button on the Overview tab.
  3. Change the Status field using the dropdown.
  4. Click Save.

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Important: Status change side effects

Changing a loan’s status can trigger automated actions:
  • Moving to Funded: When a loan’s status changes to Funded, Keystone automatically generates accounting journal entries to record the loan revenue. This only happens the first time the loan moves to Funded.
  • Setting the Funded Date: On the Dates tab, setting the fundedDate for the first time also triggers funded journal entries, independently of the status field.
  • Setting the Check Received Date: On the Dates tab, setting the checkReceivedDate for the first time triggers check-received journal entries.

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Milestone dates

Each status has a corresponding date field on the Dates tab that records when the loan reached that milestone. These dates are independent of the status field itself — you can set dates without changing the status, and vice versa.

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Processing dates

App Intake, TRID App, Qualification, Loan Setup, Disclosed, Pre-Approved, Submitted to UW, Approved w/ Conditions, Resubmitted, Clear to Close, Docs Out

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Closing and funding dates

Lock Date, Lock Expiration, Closed, Funded, Estimated Funding, Adverse, Check Received, Finalized, Approved for Payout, Commission Paid

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Status-derived date in the pipeline

The pipeline table shows a Status Date column. This date is automatically derived from the loan’s current status — it shows the date field that corresponds to the active status. For example, if a loan is in ClearToClose status, the Status Date column shows the clearToCloseDate value.