How QuickAF commissions work
QuickAF commissions are calculated on the total commission earned, which may include:
Brokerage
Origination fees
Under the Tick & Flick referral model, brokers receive 45% of the total commission earned on funded QuickAF deals.
Your commission statement and Recipient Created Tax Invoice (RCTI) will show:
The total commission received from the lender
The QuickAF processing fee
Your net commission amount
Commission example
Brokerage: $1,000
Origination fee: $990
Total commission: $1,990
Processing fee: 55%
Broker share: 45%
Broker payment: $895.50
Important considerations
QuickAF only produces quotes from lenders whose credit policies and guidelines match your client’s scenario.
Final commissions may differ from initial QuickAF illustrations due to:
Lender policy changes, or
The need to place the deal with a different lender
If this occurs, the QuickAF team will discuss any changes with you before proceeding.
When QuickAF commissions are paid
QuickAF commissions are paid once the lender payment has been received by Connective.
Typical timeframes include:
Settlement-paying lenders: Paid within a few business days
Monthly-in-arrears lenders: Payment dates vary by lender
For lender-specific payment cycles, see:
Commission statements and RCTIs for QuickAF deals are available in the CAF Statements section of the Mercury Commissions app.
Invoicing requirements
You do not need to raise an invoice for QuickAF commissions. QuickAF invoices the lender at settlement, and Connective processes payment to you once funds are received.
QuickAF commission clawbacks
Some asset finance lenders may claw back commission if a loan:
Is paid out early, or
Defaults
Most clawbacks occur within the first 12 months of settlement.
If a QuickAF commission is clawed back, the broker is clawed back in proportion to their original 45% share.
Clawback example
Total commission earned: $1,990
Lender clawback: 50%
Brokerage clawback: $500
Origination fee clawback: $0
Total clawback: $500
Broker clawback: $225.00 (45%)
Clawback invoices are issued through the Commissions app in Mercury Nexus.
Amounts may be deducted from either residential or asset finance commission payments.
Need help?
If you need help understanding QuickAF commissions or clawbacks, contact your Partnership Manager, or email [email protected].