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My iPhone 7 experienced pretty severe water damage a couple of months ago, which rendered the device completely unresponsive. I sent it away to be examined and was told that the motherboard had failed. A soldering expert replaced the IC chip and now the device is stuck in a boot loop? Any suggestions? Thanks.

Water damage repairs always contain an element of long-term risk. Even if you do the best possible decontamination and fix/replace all of the faulty components, there is always the possibility that some latent issues will pop up over time. Nowadays, many shops even refuse to “fix the phone” in the case of water damage. Depending on the type of warranty your repair shop offers, they may be willing to fix it under warranty. I would call them first and see what they can do.