Typically, we've seen one of the two processes for approving Third-Party Originators (TPOs). Either a team lead is making the decision to approve or deny a TPO or there is a credit committee that is involved in making the decision to approve a TPO.
Tactically speaking here's what we've seen for how this process happens in each system.
Manual PDF
The client onboarding team will mark the TPO as approved or denied in their spreadsheet.
Comergence
In Comergence, you can "Approve" the TPO and confirm that you want to do business with them.
Loanscape
In Loanscape, you can take it a step further and mark the TPO approved for a specific channel.