What happens when all documents are received?

• A. submit package for funding
• B. begin internal auditing
• C. file away without action
• D. renegotiate terms

Answer: (A)

When all required documents have been received, the next step in the loan workflow is to move the file toward funding. Submitting the package for funding transfers responsibility to the funding team to complete disbursement and close the loan, advancing it to the final stages of the process.

This makes sense because the purpose of collecting and verifying documents is to prepare for funding; once everything is in, there’s nothing more to review from documentation alone, and the loan can proceed to funding rather than sitting idle. Internal auditing is typically a separate quality-control or post-closing activity, filing away without action would halt progress, and renegotiating terms would only come into play if the terms themselves needed adjustment based on underwriting results, not simply after documents are received.