There are a lot of people (yes, and computer programs) behind the scenes who are involved in getting your mortgage approved. A Loan Committee is not one of them.
Let’s look behind the curtain to unmask all these ghost people. The following infographic pertains to Mortgage Brokers because they have a choice of hundreds of lenders and loan programs. Some are employed by the Broker and some by the lender.
A Mortgage Banker may use all in-house people, or a combination of in-house and outside, depending on the loan program they are offering. With a Commercial Bank, (bank's that take deposits) generally every support person will be employed by the bank.
This infographic will give you a good idea of who does what. Let's demystify the players.