1. Pending processing usually means that the bank or lending institution has received the repayment plan or loan application of the applicant, but has not yet reviewed or evaluated the information. During this period, the borrower can change the repayment plan or application details at any time, and the bank or lending institution will contact the borrower at any time to obtain more information during the processing.

2. Pending approval means that the bank or lending institution has completed the preliminary review of the repayment plan or loan application, but has not yet made a final decision. In the meantime, the borrower needs to wait for the approval of the bank or lending institution. If the application is approved, the borrower will be able to start repaying the loan. If the application is rejected, the borrower may need to reconsider their repayment plan or find other loan options.

3. Therefore, pending processing and pending approval both mean that the mortgage loan has not been approved or processed, but pending processing emphasizes that the applicant can change the repayment plan or application details at any time, while pending approval emphasizes that the bank or lending institution needs time to complete the final decision.