What is the term for taking and signing an application, negotiating terms, and collecting documentation for a mortgage loan?

The term for taking and signing an application, negotiating terms, and collecting documentation for a mortgage loan is origination. This stage is crucial as it sets the foundation for the entire loan process. During origination, the loan officer interacts with potential borrowers, discussing their financial situations and loan options, which involves gathering necessary documentation such as income verification, credit reports, and other pertinent information to assess the borrower's eligibility for the mortgage.

Origination occurs before the loan is formally processed and underwritten, making it an essential initial step in the lending journey. This process ultimately leads to the development of a loan that suits the borrower's needs while ensuring compliance with lending regulations and guidelines.