A pipeline of deals is a term used by investment bankers to describe the many stages of attracting clients, executing underwriting and due diligence, obtaining regulator permission from the Securities and Exchange Commission (SEC), and promoting the client for an initial public offering (IPO) (IPO). Banks may also refer to their pipeline when processing new loans. In the case of mortgages, this pipeline may include marketing campaigns like statement stuffers to attract new clients, credit checks on loan applicants, and the paperwork needed to close the deal.