Question

Issuing a pre-approval letter means that borrowers have completed the loan application and provided their debt, total income, and savings information, and the _______ has verified this information.

Answer 1

Answer: underwriter

Explanation:

The loan underwriter is responsible for verifying the information provided by a borrower. They will then use this information to assess the risk that the lender is going to incur if they lend money to the borrower.

When this is done, a pre-approval letter is issued which shows the amount that the lender is willing to lend to the borrower.