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Your application status shows where you are in the flow. You see the same values on your dashboard as Masterpiece Labs does internally.

Status values

  • Started. Default state. You have an account but no loan request saved.
  • Submitted. You have submitted a loan request. Masterpiece Labs is reviewing.
  • Approved. Masterpiece Labs has approved the loan. The approved amount and monthly rate appear on this screen.
  • Rejected. Masterpiece Labs has declined the application. This state is terminal for edits.
Approved terms may differ from what you requested. The approved amount and approved monthly rate are set independently by Masterpiece Labs and shown alongside your original request so you can compare.
Both Approved and Rejected are terminal for borrower edits. You cannot change the loan request or invoice after either state is reached.

After approval

Once you are approved, the app routes you to the finalization flow: loan agreement signing, DACA setup, Notice of Exclusive Control, and proof of remittance. See What Happens After Approval.
See Status Values Reference for the full list of application and DACA statuses.