Final answer:
Jeremy best fits the title of a. a borrower, which is an individual or entity that requests a loan from a bank and is subject to credit checks and may provide a cosigner or collateral to secure the loan.
Step-by-step explanation:
Considering the context of the financial capital market and the processes involved in loan approval, Jeremy, having completed his loan application and gathered supporting documentation, best fits the title of a borrower. A borrower is an individual or entity that takes out a loan from a financial institution with the promise of repayment over an agreed period. When financial institutions assess a loan application, they often check the borrower’s credit history, sources of income, and may require additional assurance such as a cosigner or collateral.
This ensures that the bank can manage the risk of the borrower not being able to repay the loan. The cosigner acts as a form of security, as they pledge to repay the loan if the borrower defaults. Collateral provides another layer of security for the bank, often in the form of property or equipment that can be seized and sold if the loan is not repaid.