What is the outcome of the loan processes?

The outcome of the loan processes is best described by loan servicing. This phase occurs after the loan has been originated and approved, and it involves the ongoing management of the loan throughout its life cycle. Loan servicing includes collecting payments, managing escrow accounts for taxes and insurance, and handling customer service responsibilities related to the loan.

While loan origination involves the initial steps leading to a loan, and mortgage approval is a critical milestone, these are preliminary stages rather than the final outcome of the loan process. Loan denial, on the other hand, is an unfavorable outcome and not an effective representation of a successful loan process. Thus, loan servicing encapsulates the true ongoing nature of managing a loan after it has been established.