Loan status controls where a loan is in its lifecycle, what actions are available, and how the loan appears in servicing, reports, notices, funding, escrow, and work plan activity.

CDM uses two related fields on a loan:

• Status: the lifecycle status of the loan, such as Pending, Open, Paid in Full, Default, or Refinanced.
• Type: the payment type of the loan, either Deferred or Installment.

Status vs Type

Status answers: What stage is this loan in?

Type answers: How is this loan repaid or serviced?

Loan Type values are:

• Deferred: used for deferred loans that do not follow a regular installment payment schedule.
• Installment: used for loans with scheduled payments, installment servicing fields, due dates, late fee settings, and payment amount requirements.

Loan Type is selected while the loan is Pending. After the loan is no longer Pending, CDM treats the type as locked because loan number, sequence, servicing, payments, and related records depend on it.

Main Status Flow

Most loans follow this lifecycle:

1. Pending
2. Open
3. Paid in Full, Refinanced, Grant, Default, Foreclosed, Bankrupt, or another closed/risk outcome

A typical active loan starts as Pending while staff finish setup, funding, and required fields. It moves to Open when the loan is obligated, signed, funded, and ready for servicing or tracking.

Pending

Pending means the loan record is being set up and has not yet been opened.

Use Pending when: