In plain English
This means the lender has reached the stage of sending out its formal lending proposal. That proposal sets out the terms the lender is prepared to lend on. It describes the current stage of the mortgage application.
In context
Here, it reports that the mortgage application has reached the stage where the lender has formally issued its offer stating the lending terms.
- Situation
- Following home-purchase, mortgage, valuation, survey, and closing administration
- What it communicates
- reports that the lender has issued the mortgage offer.
Meaning limits
By itself, this status does not establish anything beyond the formal issue of the offer and the terms stated in it.
Examples
“When the lender sent a formal offer setting out the loan amount, rate, and term, the application moved to Mortgage offer issued.”
“By the time her solicitor asked for the paperwork, the case was already at Mortgage offer issued and the lender's written terms were on file.”