What does the stage bar represent in the loan origination process?

The stage bar in the loan origination process serves as a visual indicator of the current status of the loan. It is designed to help users easily track the progress of a loan application through various stages, such as application submission, underwriting, approval, and closing. By providing a clear representation of where a loan stands in its lifecycle, the stage bar enables stakeholders to monitor the overall progress, identify any bottlenecks, and ensure that necessary actions are taken to move the loan forward. This clarity is essential for efficient collaboration and communication among all parties involved in the loan process, allowing for timely decisions and enhancing customer satisfaction.