does the undewriter have final approval on a loan?

Answer 1

the underwriters job is to obtain documentation supporting the stipulations of a persons loan approval. if the loan is cut-and-dry, then usually the underwriter can approve, yes. however, sometimes (heck, many times) there are grey areas, and a senior underwriter or department head must get involved to handle the approval. also, if there is an appraisal review, the loan can be in the hands of the review department. the appraisal review department doesn't make a loan decision, but they can say the appraisal is inaccurate and "demote" the value the appraiser determined. with that lower value, it could result in a denial of a loan application. hope this helps!