Which group is responsible for making the final decision on loan approvals?

The Approval Committee is typically responsible for making the final decision on loan approvals due to its role in evaluating loan applications comprehensively. This committee often consists of senior executives and specialists who assess the risks and merits of loan requests that have been vetted through various levels of underwriting and analysis.

The involvement of multiple stakeholders in the committee ensures a thorough evaluation of the loan's viability, financial implications, and alignment with the lending institution's policies. The collective expertise of the committee allows for a balanced perspective on high-stakes decisions, thereby enhancing compliance, risk management, and overall accountability in the lending process.

While the other groups mentioned, such as Credit Underwriters, may conduct essential assessments and evaluations related to credit risk and financial analysis, they typically do not have the final authority to approve or deny loans. The Loan Origination System serves as a technological tool that streamlines the application process but does not make decisions on its own. The Relationship Manager plays a vital role in facilitating the loan origination process and maintaining customer relationships but also lacks the final decision-making authority that rests with the Approval Committee.