Loan Applications

Loan applications. They trigger three sub-processes that flow in tandem: Appraisal, Underwriting, and Preparation.

1 - Generate Applications - model the demand of incoming applications

2 - Create Workstreams - applications are 'split' into the work streams

3 - Model Activities - people work on the application in their respective streams. If you have multiple people working on this activity at the same time (on different loan applications), you can indicate that in this block

4 - Split Off Failures - some applications fail in appraisal or underwriting

5 - Reassemble Package - applications are 'reassembled' as the sub-process merge on completed appraisal, underwriting, and prep work. This block also ensures the correct pieces are put back together

6 - Finalize Package - additional work is performed on the completed application package