Loan Application Status Definitions

If you applied for a loan online, you can check the status of your application at any time through the Applications widget in online banking. See below for a list of loan statuses and definitions.

Loan Application Status Definitions

Application is approved and ready to close. Documents are in the process of being finalized or have been sent for signature(s). You will be contacted via phone or email. After all documents are signed, we will contact you when the funding of loan proceeds has been completed.
Application is instantly approved pending conditions. You will be contacted via phone or email with next steps.
Application has been canceled resulting in no further action taken. In the case of loan pre-approvals, the pre-approval timeframe has expired.
Application is not approved for the original request but another option(s) has been provided. You will be contacted via phone or email . Please contact us with a response within the timeframe requested.
Application is not approved based on underwriting guidelines. You will be contacted via phone or email. Additionally, you will receive written notification within 30 days explaining the declination reason(s).
Application is awaiting final review by Underwriting. No additional action is required. You will be contacted via phone or email with the loan decision.
Application has been reviewed and more information is required before we can proceed with the underwriting decision. Check your email for further explanation of what is needed to expedite your loan application. If no response is received within 15 days, your application will be automatically declined.
Application is awaiting initial review by a lending specialist. Applications are reviewed in the order received. You will be contacted via phone or email with next steps.
Application is pre-approved based on credit standards and an initial assessment of information supplied. You will receive a pre-approval letter that includes your pre-approved amount and offer expiration date. Note: The final approved loan amount, subject to underwriting and credit standards, will be determined after receiving all required documentation including the actual vehicle purchase price.
Application is currently being reviewed by Underwriting. You will be contacted via phone or email with a loan decision.

Thank you for your interest in State Farm Federal Credit Union. Please contact us at 1-888-521-5209 between the hours of 7:30 am – 5:30 pm CST, Monday – Friday with any questions related to existing loan applications.