Final answer:
The lender's final decision on a loan application is made by a loan officer or underwriter after reviewing the applicant's financial information and assessing the risk.
Step-by-step explanation:
The lender's final decision on a loan application is typically made by a loan officer or an underwriter. These individuals review the loan application, including information on the borrower's income, credit history, and collateral, to determine whether the borrower meets the requirements for the loan. They analyze the applicant's financial situation and assess the risk of lending money to them. Based on their evaluation, they decide whether to approve or deny the loan application.