Final answer:
The process in which the lender evaluates all of the borrower's financial data and determines if the borrower will obtain the loan is called underwriting.
Step-by-step explanation:
The process in which the lender evaluates all of the borrower's financial data and determines if the borrower will obtain the loan is called underwriting.
Underwriting involves analyzing the borrower's income, credit history, and other financial factors to assess their creditworthiness.
For example, the lender may review the borrower's employment history, debt-to-income ratio, and credit score to make a decision on whether to approve the loan.