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.
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.
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]