Use this guide to apply commission splits to a loan account in Mercury Nexus.
You’ll learn when to apply splits, how to add them Manually or Automatically and how templates work.
When to apply splits
You can only apply commission splits after the loan account appears in the Interim upfronts tab or the Loan accounts tab. This first occurs once the loan is received on a lender statement and allocated to a broker.
Before applying a split, the payee must already exist in the Commissions App Create & Manage Payees.
Payee splits must be set before the payment batch cut-off date. Please refer to the Commissions Payment Calendar for more information. If a split is missed before the payment date, apply the upfront split manually if the loan has settled and the upfront was paid. For trail splits, applying the split now will take effect in the next commission payment cycle.
Note: Principal Owners receive an email notification whenever commission splits are changed. This notification cannot be disabled.
Apply manual commission splits
You can manually apply payee splits through the Interim upfronts tab (for new settlements) or the Loan accounts tab.
Steps
Open the Commissions App.
Select Loan accounts or Interim upfronts from the left panel.
Select the relevant loan account. You can use sorting and filters to help locate it.
Click Edit splits.
Select the payee and enter either a percentage or fixed amount for the upfront and trail commission.
How calculation types work
Percentage — Calculates the commission amount based on the percentage entered.
Fixed amount — A dollar value applied to the upfront commission only.
Important (Yellow): Fixed amounts must be entered exclusive of GST.
Commissions are calculated in order from Split 1 through to Split 4.
If a split is left blank or set to zero, the unpaid portion is allocated to the Head Partner Group. If commissions are paid entirely to the Head Partner Group due to missing splits, arrange for payee splits to be applied through your director or the responsible party.
Note: All Principal Owners will receive an email notification when changes to commissions splits are made. Principal Owners cannot opt out of receiving this notification.
Use automatic commission splitting
Automatic splits apply based on the loan writer linked to a payee. This is useful when the same broker consistently receives a fixed percentage.
For example:
A 100% upfront split can automatically apply to payee John Smiths Loans for all settlements lodged under loan writer CA12345 – John Smith.
Set up automatic splits
Open the Commissions App and go to your list of payees.
Double-click the payee to open it.
Select Automatically allocated for loans written by selected broker.
Enter the splitting details and link the broker.
Use splitting templates
Splitting templates allow Admin users to quickly apply commonly used commission splits—helpful when the same referrer and broker appear frequently.
Need help?
If you need help applying commission splits in the Commissions App, contact your Partnership Manager or email [email protected]
Troubleshooting Common Issues
System-Related Issues
Problem: Commissions are paid entirely to the partner group instead of being split.
Cause: Payee splits are not configured.
Solution: Arrange for payee splits to be applied through your director or the responsible party.
Problem: Commission splitting stopped due to a lender changing the loan number format.
Cause: The system treats the updated loan number as a new loan, breaking the mapping.
Solution: Correct the mapping to ensure trails continue under the updated format. For example, a loan number like
29124799767updated toHA29124799767requires manual adjustment.
Manual Adjustments for Existing Loans
Problem: Updating the default payee split percentage does not affect existing loans.
Cause: Default updates apply only to new transactions without existing payee links.
Solution: Manually update the splits on existing loan accounts to the desired percentage.
Problem: Incorrect commission splits were applied manually.
Solution: Update the splits directly in the loan record. In Mercury Nexus, navigate to the borrower’s Loan Accounts, access the Splits tab, and adjust the upfront and trail split percentages. Save changes for each affected loan.
Handling Incorrect or Missing Splits
Problem: A commission split was not applied before the payment date.
Solution:
Upfront Split: If the loan has settled and the upfront was paid, apply the split manually.
Trail Split: Applying the split now will take effect in the next commission payment cycle.
Problem: Incorrect splits for specific periods (e.g., December loans).
Solution: Adjust the commission transactions for those loans to 100% in the interim statement. The update will reflect after the commissions data refresh.
Verification and Documentation
Confirming Splits: Verify applied splits by checking loan records. Correctly configured splits will appear in your statements after the next commission cycle.
Trail Book Transfers: After a trail book transfer, ensure payee splits are correctly applied under the new partner group. Verify that commission statements and RCTIs reflect the updated splits.