Feedback vs Rejection

Feedback vs Rejection

Understand the difference between change requests and rejections

Overview

During review, reviewers can either request changes (feedback) or reject items. Understanding the difference helps you respond appropriately.

Comparison Table

  Aspect
  Change Request (Feedback)
  Rejection
  Can edit?
  Yes
  No
  Can resubmit?
  Yes
  No
  Item state
  Returns to editable
  Read-only
  Next step
  Make changes, resubmit
  Create new item
  Status example
  CHANGES_REQUESTED
  Rejected
  Workflow
  Continues
  Stops for this item

Where Feedback/Rejection Applies

Term Sheets (FA Review)

Change Request:

      • Status: CHANGES_REQUESTED
      • Borrower can edit term sheet
      • Borrower resubmits after changes
      • Returns to FAReview

Rejection:

      • Status: Rejected
      • Term sheet is final
      • Borrower must create new term sheet
      • No master commitment created

Funding Requests (FA Review)

Change Request:

      • Status: CHANGES_REQUESTED
      • Borrower can edit funding request
      • Borrower resubmits after changes
      • Returns to FAReview

Rejection:

      • Status: REJECTED
      • Funding request is final
      • Borrower must create new funding request
      • No funding notice created

Pool Mandates (Market Maker)

Pool Level Feedback:

      • Market maker/investor adds comments in Feedback section
      • Issuer can view and respond
      • Pool continues in workflow

Mandate Rejection:

      • Market maker rejects mandate
      • Pool can be submitted to another market maker
      • Or issuer makes improvements and resubmits

Loan Level Feedback

Loan Comments:

      • Market maker/investor uses chat box icon on loan
      • Comments shared with issuer
      • Loan stays in pool

Loan Removal Request:

      • Market maker/investor clicks cross icon
      • Issuer sees tick/cross to accept/reject removal
      • Tick: Accept removal → Loan marked as Removed
      • Cross: Reject removal → Loan stays in pool

How to Respond

When Changes Are Requested

1. Review the Request

      • Read comments/reason from reviewer
      • Understand what changes are needed

2. Make Changes

      • Edit the item (status allows editing)
      • Address all requested changes

3. Resubmit

      • Submit the updated item
      • Item returns to review status

When Rejected

1. Review the Reason

      • Read rejection reason
      • Understand why it was rejected

2. Create New Item

      • Start fresh with a new item
      • Address the issues from rejection

3. Submit New Item

      • Go through normal submission process

Key Points

• Change requests = opportunity to improve - Item can continue after changes
• Rejection = final for that item - Must start over with new item
• Always read the reason - Helps you understand what's needed
• Learn from feedback - Improve future submission

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