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Legend and Status Definitions

Legend of the different icons used in CreditSnap

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Status Name Description Relevant for Lending? Relevant for Deposits?
All Stips Cleared All the stipulations on the application are cleared, and application ready to move to next step. Examples of stipulations - Document Request (Upload), ID verificaiton, Income Verification etc. Y Y
Approved Otherwise known as "Underwriting Approved". This status indicates that the applicaiton has gone through Hard Inquiry, and secured underwriting approval. Approval may be from an external LOS or from CreditSnap internal LOS Y -
Complete Application completed all steps successfully Y Y
Core Oboarded Applicaiton approved, and account booked to Core Y Y
Core Oboarding Failed Applicaiton approved, but Core Onboarding failed  Y Y
Decline Application Declined. Can be Credit Decline or Fraud Decline.  Y Y
Documents Pushed to LOS Documents on this applicaiton are pushed to LOS Y -
Documents Requested A document request was made to the applicant from the Admin System Y Y
Documents Uploaded Applicant completed the requested document upload Y Y
eSignature Complete eSignature step is now complete Y Y
eSignature Incomplete eSignature started but not complete. If Individual applicaiton, then the primary has not completed eSignature. If a joint applicaiton, then either CoApplicant did not complete the eSignature or both primary and coapplicant did not complete the eSignature Y Y
Final Submit Application submitted for final approval. Most of the time, this should go through automatic approval process, but if not, review for decline reasons Y Y
Final Submit (In Progress) Application submitted for final approval but it is in progress. The odds of seeing this status is very rare, and you may see it if you were viewing the applicaiton or dashboard at the very moment of the final submission step. While some LOS systems can take just a few seconds, some can take up to 40 to 50 seconds to process the final submission. Y -
Final Submit (Referred) Application submitted for final approval, but applicaiton is pending manual review Y Y
Final Submit Failed Application submitted for final approval, but some issues with the LOS or Core system led to an API failure. Pls review for errors and make a final submit again Y Y
Fraud (IP or Phone)
  1. If application IP address indicates the state is different from the state in the address on application, then it is flagged for Fraud.
  2. If application is the 7th in a series of apps from the same phone number or IP within a 24 hour period, then the application is flagged for Fraud.
  3. If application first name and last name (or) Date of birth (or) SSN match with your block list record, then it is flagged for fraud

This fraud detection happens before soft inquiry so that you do not incur unnecessary and fraudlent credit report pulls.

 Y Y
Fraud Decline If you are using a Third Party Fraud detection integration AND if the third party recommended Decline Y Y
Fraud Review If you are using a Third Party Fraud detection integration AND if the third party recommended Review. Usual next steps are to review the application for Fraud, and potentially request a document or two for verificaiton before approving it for next steps. Y Y
ID Verification Failed True ID Verification step completed, but system could not confirm if the ID is valid. Usual next step is to review the ID Verificaiton document, and if it is good, then Clear the ID Verificaiton stipulaiton to let the applicaiton move to next step Y Y
ID Verification Incomplete True ID Verificaiton initiated but applicant(s) did not complete it yet Y Y
ID Verification Success True ID Verification step completed, and system confirmed ID is valid AND ID does belong to the applicant Y Y
Income Verification Failed Income Verification step completed, but income does not match what is reported. Usual next step is to request additional income documentation. Y -
Income Verification Incomplete Income Verificaiton initiated but applicant(s) did not complete it yet Y -
Income Verification Success True ID Verificaiton initiated and successfully verified. Y -
Incomplete Applicant left the application before seeing product offers/options Y Y
Loan Disbursed Loan disbursement instructions sent to Core Y -
Loan Disbursement Started Loan disbursement instructions added but not sent to Core yet or did not receive a confirmaiton from Core yet Y -
No Hit Credit Bureau pull unsuccessful - No Hit Y Y
No Hit (Bureau Locked) Credit Bureau pull unsuccessful - Bureau Report Locked Y Y
No Hit (CoApplicant) CoApplicant's Credit Bureau pull unsuccessful - No Hit Y Y
No Offer Applicant not eligible for an offer. See "Offers" tab for reasons for no offer Y Y
No Offer (Soft) Applicant not eligible for an offer but it may be cured by adding a co-applicant. See "Offers" tab for reasons for no offer Y -
No Offer - Referred Applicant not eligible for an offer but it may be cured by adding a co-applicant. See "Offers" tab for reasons for no offer Y -
Offer Generated Application has offers available, but applicant is still reviewing them. None selected yet  Y Y
Offer Selected Application has offers available, and applicant selected an offer, but waiting on the final submission  Y Y
Payment Declined Deposit transaction declined by payment processor - Y
Payment Error Deposit transaction errored - Y
Payment Incomplete Deposit transaction started but waiting on confirmation of successful posting. Unusual to see this - Y
Payment Skipped Applicant skipped making the deposit - Y
Payment Success Deposit transaction completed successfully - Y
Pending OTP Applicant completed page 1 but did not complete OTP that is prompted after Page 1. Can be an indicator of fraud OR applicant may be trying with a phone number that cannot accept SMS/OTP Y Y
PreEligibility Fail Application Declined prior to bureau pull. Usually geography or age or other types of preliminary declines, designed to reduce bureau costs Y Y
Reviewed A status that can be manually set from the admin system. It is an indicaiton that someone did review the application Y Y
Stips Cleared All the stipulations on the application are cleared, and application ready to move to next step. Examples of stipulations - Document Request (Upload), ID verificaiton, Income Verification etc. Y Y
Underwriting Review Application waiting for Credit Underwriting Review Y -
Withdrawn Applicant requested for the application to be withdrawn Y -
Workflow Started Application is approved and automation/verification workflow started. This is a momentary status change  Y Y

CreditSnap System Status Values

Offer Status

NO_OFFER_PRE_FAIL Pre Bureau Decline
BUREAU_REPORT_RECEIVED Bureau Report is receieved
NO_BUREAU_HIT_COBORROWER Bureau No Hit for Coborrower
NO_BUREAU_REPORT Bureau No Hit for Primary
NO_OFFER_FRAUD_DECLINE Fraud Decline
NO_OFFER_HARD_DECLINE Credit Decline
NO_OFFER_NO_HIT Bureau No Hit for Primary
NO_OFFER_SOFT_DECLINE Credit Decline - Can be cured/remedied with co-applicant
OFFER_GENERATED Offers generated
OFFER_GENERATED_WITH_LTV Offers generated with vehicle LTV accounted for
OFFER_GENERATION_INITIATED Offer Generation Initiated, but not successful
OFFER_SELECTED Offer generated and applicant selected his/her choice of terms
PEND No offer but referred for manual review (Not Auto Decline)
TU_BUREAU_REPORT_LOCKED Transunion Bureau Report Locked
XPN_BUREAU_REPORT_LOCKED Experian Bureau Report Locked

Collateral Status

TRADELINE_SELECTED Tradeline is selected
COLLATERAL_ADDED Tradeline selected and collateral added but collateral valuaiton not complete
COLLATERAL_VALUE_RECEIVED Collateral added and valuation complete

 Applicants Status: Statuses from Offer Status and Collateral Status will reflect in this Application Status PLUS the below

 

All of the above ++
CLOSED_AS_PER_CUSTOMER_REQUEST Withdrawn
COMPLETE Applicaiton is marked Complete
FINANCIAL_SUBMITTED Application submitted for final review (manual or automatic) into CreditSnap LOS or External LOS
FINANCIAL_SUBMITTED_FAILED This is observed only with External LOS. If external LOS system is down or unable to accept application, then consents are marked and application updated to this status
FINANCIAL_SUBMITTED_FRAUD_DECLINE Applicant gave final consent, but a "Decline" flag from external fraud system stopped this applicaiton from being fully submitted to downstream system
FINANCIAL_SUBMITTED_FRAUD_REVIEW Applicant gave final consent, but a "Review" flag from external fraud system stopped this applicaiton from being fully submitted to downstream system
FRAUD Fraud identified on the very first step of the app by CreditSnap - usually based on IP or Phone or App Velocity (# of apps) or Match against Bad Actor List
OTP_VERIFICATION_PENDING Applicant did not complete OTP Verification

 

Below Statuses are related to Approval, Stipulations and workflow after the application is submitted for final review

Underwriting Status

UNDERWRITING_PEND System decision indicates manual review is needed
UNDERWRITING_DECLINE System decision = Decline
UNDERWRITING_APPROVED System decision = Approve

 Lending Fraud / Deposit KYC Level I Status

FRAUD_CLEARED Application CLEAR
FRAUD_DECLINED Fraud Decision = Decline
FRAUD_REVIEW Fraud Decision = Review

Lending ID Verification / Deposit KYC Level II (IDV) Status

VERIFICATION_SUCCESS System decision = IDV Approve
VERIFICATION_FAILED ID needs Manual Review
VERIFICATION_STARTED Applicant did not start ID Verification
VERIFICATION_SECONDARY_PEND Primary completed ID Verificaiton but co-applicant did nto start it yet

 eSignature (Loan Agreement) Status

DOCS_SIGNED eSignatures Complete
DOCS_STARTED eSignatures Not Complete

 

 

Payment / Funding Status

PAYMENT_SUCCESS Transaction Completed Successfully
PAYMENT_SKIPPED Applicant skipped the payment transaction step
PAYMENT_STARTED Applicant started but did not complete
PAYMENT_DECLINED Applicant completed transaction but processor declined it
PAYMENT_RETURNED Payment refunded by employee
PAYMENT_ERROR Payment transaction in error

Core Onboarding Status

ACCOUNT_SUBMITTED Deposit Account created in Core
LOAN_SUBMITTED Loan Account created in Core
ACCOUNT_SUBMITTED_PENDING_COAPPLICANT Deposit Account created in Core with Primary, but CoApplicant is not added yet (as waiting on disclosure acceptance)
ACCOUNT_SUBMIT_FAILED Deposit Account creation in Core failes
LOAN_SUBMIT_FAILED Loan Account creation failed in Core



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