Which status indicates that documents associated with a loan have been reviewed and require no further action?

The status that indicates that documents associated with a loan have been reviewed and require no further action is "Approved." When a loan is marked as approved, it signifies that all necessary documentation has been evaluated by the relevant parties and meets the required standards for proceeding with the loan process. At this point, there are no outstanding issues or additional documentation needed, meaning that the loan can move forward. This status clearly conveys that the review process has been completed successfully, allowing stakeholders to proceed to the next steps in the loan lifecycle confidently.

Other statuses like "Exception," "Waived," and "Pending" do not accurately represent a completed review process. "Exception" typically indicates that something unusual or outside of standard protocol has been encountered, which may need further attention. "Waived" suggests that certain requirements were overlooked or exempted, but it does not confirm a thorough review has taken place. "Pending" indicates that the review process is still ongoing, and actions are still needed. The "Approved" status, therefore, is the definitive marker that signifies all assessment steps relative to the documents have been completed satisfactorily.