What Is an “Underwriting Ready” Status?
The “underwriting ready” status refers to a system flag or status field that marks a submission as fully prepared for underwriting review.
In MCA and small business lending, this status means that required documents have been received, scrubbing is complete, and all structured fields have been recorded in the system of record.
This status usually appears at the transition between intake/scrubbing and underwriting. Operators and underwriters rely on it to avoid wasting time on incomplete submissions or chasing down missing information.
How Does the “Underwriting Ready” Status Work?
The “underwriting ready” status is set after several automated and manual steps confirm submission completeness.
- Document validation: Statements, IDs, and supporting forms are present and have passed checks like staleness, continuity, and tampering detection.
- Field scrubbing: Key financial and identity data are parsed, validated, and structured into CRM fields.
- Completeness confirmation: Missing-info requests are resolved, and flagged issues are cleared.
- Status update: The deal is marked as “underwriting ready”, signaling that it can move forward.
In Heron, the “underwriting ready” status is generated automatically.
- Automated scrubbing: Submissions are ingested, and all key fields are parsed.
- Checks complete: Completeness scores, fraud flags, and policy checks are validated.
- Write-back: Clean, structured data is written directly into the CRM.
- Status assignment: The system sets the “underwriting ready” status so that teams know the packet requires no further intake work.
- Next action: Underwriters can immediately start evaluating deals instead of reviewing packet quality.
This automation removes guesswork and delays from deal flow.
Why Is the “Underwriting Ready” Status Important?
For brokers and funders, the “underwriting ready” status is important because it prevents time from being wasted on incomplete or unverified submissions. Underwriters only see packets that are fully scrubbed and ready to be assessed, which reduces rework and increases efficiency.
Heron makes underwriting readiness a scalable outcome by automating checks and status updates. This ensures consistency, improves speed, and frees underwriters to focus on decision-making.
Common Use Cases
The “underwriting ready” status is widely applied in deal management workflows.
- Marking submissions as complete and routing them into underwriting queues.
- Giving underwriters clear visibility into which deals are ready to review.
- Preventing incomplete packets from reaching underwriting desks.
- Writing readiness status into CRM records for easy tracking.
- Triggering automatic routing rules when submissions meet readiness thresholds.
FAQs About the “Underwriting Ready” Status
How does Heron assign the “underwriting ready” status?
Heron sets the “underwriting ready” status once scrubbing is complete, missing-info items are resolved, and all structured fields are written back into the CRM.
Why is the “underwriting ready” status valuable in MCA workflows?
It ensures that underwriters only review clean, complete submissions. This reduces wasted time, improves accuracy, and speeds up funding decisions.
What outputs should teams expect from the “underwriting ready” status?
Teams receive CRM status updates and structured fields showing readiness, along with a clear audit trail of checks completed. This allows underwriting teams to move forward immediately.