How do lenders refer to the process of obtaining new loans?

Lenders use the term "loan origination" to describe the process of obtaining new loans. This term encompasses all the tasks involved in generating a new loan, including taking the application, verifying the borrower's information, assessing creditworthiness, underwriting, and preparing the necessary documentation for the loan. Essentially, loan origination is the journey from a potential borrower's first inquiry about a loan through to the approval of that loan.

The other options do not capture this full process effectively. The loan application refers specifically to the initial request for a loan, but does not cover subsequent steps like underwriting. Loan disposition involves managing the loan after it has been originated, which is outside the scope of obtaining a new loan. Lastly, loan closing is the final step in the loan process where all documentation is signed and ownership is transferred, but it is not synonymous with the entire origination process. Thus, "loan origination" is the most inclusive and accurate term for acquiring new loans.