In this article, we'll be going through the Finance Application status- an essential tool in understanding an application's progress and resolving any issues that may crop up. This article is best understood after going through the article 'What Is The Overview Page?' as it introduces this subject.
We'll be discussing the following statuses:
Status: Referred To Underwriter
Headline: Awaiting action from Lender
On the Overview page, scrolling down, you will find the Finance Application card in the middle column.
The card will tell you whom the application is sent to, the application status, submission date and Codeweavers lender reference.
Every Finance Application card will have a headline that gives context about the application status. The headline is always highlighted in colour at the top of the card.
If the application status is 'Referred To Underwriter', the headline contextualizes this by stating that the application is 'Awaiting action from Lender', i.e., the application requires no further input at that moment. If this is the case, there is nothing further to do- unless you wish to make an amendment.
Status: Referred To Underwriter
Headline: Action required. Quote Has Been Updated Since The Last Submission. Resubmit To Push Any Updates To The Lender.
If you have made amendments to a Finance Application from the Overview page, you will need to resubmit the proposal. If you are yet to resubmit, the headline will show 'Action required'.
Simply click on the 'Resubmit Proposal' button to rectify this.
Status: Not Submitted
Headline: Awaiting Action From Customer
The headline 'Awaiting action from Customer' is because the application is 'Not Submitted'. Underneath the literal words 'Finance Application' you have a detailed reason; in this case, it is 'Unable to submit to Codeweavers Lender, the application is incomplete or contains errors.'
Click on the button 'Review Application Errors' to go back and make amendments.
Status: Not Submitted
Heading: Action required
The 'Action required' headline is shown when a Finance Application has not been submitted. You can find out more underneath the literal words 'Finance Application'. In the example shown below, you'll see that the application is 'Ready to submit to Codeweavers Lender'.
All that is needed is to click on the 'Submit Proposal' button.
In conclusion, the statuses above are the most frequent you will come across. With any status, the key to understanding the headline, and the explanation given beneath the words 'Finance Application'. The next steps will be outlined within the card.
Unsure about some terms? We have provided definitions here.
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