Your task is to model a loan origination using BPMN and Camunda Web Modeler. If you don't have a free Camunda account yet, sign up at https://camunda.io/.
The loan origination process starts when a user submits a loan application form ...
- First, the application must be validated to ensure everything is filled out and withing parameters. We will not support auto loans for more than $45,000, or home loans for less than $20,000 or more than $450,000.
- If the application is not valid, we need to send a rejection email.
- Next, a credit report and score is pulled for the applicant.
- After the report is available, a risk assessment is performed. If their credit score is more than 800 it's an automatic approval; if it's less than 500, it's an automatic rejection.
- If the risk assessment passes, then the collateral needs to be validated.
- Then the application is sent to the underwriter for final approval. This task cannot be automated, it must be performed by a human.
- If the underwriter approves the loan, then all the loan paperwork needs to be signed by both the financial institution and the applicant.
- Finally, the funds are disbursed!