There are six application statuses within Gateway. The Lender and applicants will be able to see all statuses. Some are system generated, and some can be set by the Lender. These statuses do not come over with the application once it is pushed to Ventures. The Ventures record will be set to Prospect status by default. Below are the definitions of each Gateway status:

OPEN

This status means the application does not have required data entered and documents uploaded (or marked Not Available) from the Primary Applicant and/or Additional Owners. The applicant will see an "Incomplete" when the Lender sees "Open." A Lender cannot push an application to Ventures in this status. This status is system generated.

WITHDRAWN

The Lender can change the status to Withdrawn, at any time, to indicate they are not moving forward with an application. The Lender will have option to record withdraw reason for internal use. A Lender cannot push an application to Ventures in this status.

SUBMITTED

This status means all required data and documents assigned to the Primary Applicant and/or Additional Owners have been provided. This is a system generated status that cannot be manually set by the Lender. You can push an application to Ventures in this status. Please review KB article Gateway How to push an application to Ventures for more information. 

DECLINED
The Lender can decline an application once it is in Submitted status. The Lender will have option to record decline reason for internal use and will have an option to email all owners from the system. A Lender cannot push an application to Ventures in this status.

MORE INFORMATION NEEDED

This is a system generated status that can appear after an application is in Submitted status. If the Lender marked a document incomplete or added an additional document request during review, the applicant would see this status and receive an email notification. A Lender cannot push an application to Ventures in this status.

REVIEWED

The Lender can set an application to Reviewed once it is in Submitted status. This status can help identify which completed applications have been addressed. This is a "final status" and the applicant will no longer be email notified if you request additional documents. You can push an application to Ventures in this status.  Please review KB article Gateway How to push an application to Ventures for more information. 

To change the application status to Withdrawn, Declined, or Reviewed:

• Click on hyperlinked application number of the application you would like update
• Click on Actions button
• Select the status you want
• IF YOU SELECT WITHDRAWN, you can optionally provide a reason for the withdraw (this will only be seen internally and will not be seen by the applicant)
• IF YOU SELECT DECLINED, you can optionally provide a reason for the withdraw (this will only be seen internally and will not be seen by the applicant) AND you have the option to send an editable email notification to all applicants