An end-to-end process for creating an opportunity record in Mercury.
Creating an Opportunity record
There are 3 ways to create an Opportunity record in Mercury:
- In the Dashboard tab, click Add an Opportunity
- In the CRM tab, select Opportunities and click New Items and select Home Loans
- In the CRM tab, open a People record. Click the New Items drop down box and select Opportunity.
Note: The data you populate on an opportunity record will automatically populate the relevant fields in Apply Online when you click the Enter ApplyOnline Application button. If this data already exists in Apply Online, it will back populate into Mercury when you click the Update from AoL button.
Adding Loan Details to an Opportunity Record
Compliance note: You need to complete the Details section of the opportunity to ensure the Compliance documents populate correctly.
- Open the Opportunity record and select Details in the left-hand panel. Enter the following general details:
- Name - Enter the opportunity name. We recommend you create a naming convention and ensure everyone in your company follows it. For example Surname, Initials -Purpose - Street, ie. Smith, M&K - Purchase - Green St.
- Advisor - enter the Loan Writer's name here.
- Supervisor - Add the name of the Supervisor assigned to this loan. The Supervisor is the person supervising the loan - it can be a loan writer, a mentor or even the Principal Owner.
This field can also be left blank if it is not applicable.
- Share With - This allows you to share one or more opportunities to a nominated company that also uses Mercury. Refer to Opportunity Sharing.
- Current Status - Click on the green arrow to change the status of the loan. Refer to Status Editor and Status Editor - Auto Actions. Any change in status is recorded in the History.
- Lead Source - Lead sources are used to track where your business is coming from. Refer to Managing a Lead Source.
- Campaign - Opportunities can be stored within a campaign for easy reporting later on. Refer to How to Create and Manage a Campaign.
- Internal Reference - Use this field to record an internal reference number to enable you to match up this opportunity to a paper trail. Some Brokers use this field to add additional information on a Lead Source, eg. Lead Source is client referral, Internal Reference is client name. You can also use this field to record a second Lead Source if required. This field can be searched on with a filter in the CRM tab
- Opportunity Type - Click the drop down box and choose the appropriate opportunity type.
- Add to My Workspace - Tick this checkbox to add this opportunity to your Workspace on the Dashboard for easy retrieval. Refer to Using the Dashboard.
- Enter the Product and Security details:
- Existing Amount.
- Security Value.
- Loan Value Ratio.
- Status Notes - this field is typically used by Admin staff to give another user a quick snapshot of the current status of the Opportunity or is a place to write a note about the current Opportunity status. Entering notes in this field does not contribute to meeting Connective Compliance requirements.
- Enter the Settlement details once the lender has sent back the loan documentation:
- Transaction Type - Note that some transaction types treat the Existing Amount field differently and therefore impact the LVR calculation. If you are doing a Refinance or Top-up then choose the Variation transaction type to ensure the LVR calculates correctly. You can customise the options that appear in this drop-down list. Refer to List Editor - Customising drop-down lists.
- Lender Reference.
- Apply Online ID - Apply Online is a third-party system which sits between Mercury and the Lender. Refer to About Apply Online
- Finance Date.
- Deposit Due Date
- Settlement Date - Entering a date in this field includes the Loan Amount in the Expected Figure of the month’s settlement summary on the Settlements Report in the Reports tab. Clicking the Confirmed box includes the Loan Amount into the Confirmed Summary for the month.
- Fixed/Intro Rate Expiry - A date is required in this field to apply Auto-Action reminders. Refer to Status Editor - Auto Actions.
- Interest Only Expiry - A date is required in this field to apply Auto-Action reminders. Refer to Status Editor - Auto Actions.
- Categories - Loan Categories are used to sort your opportunity data, to make it more accessible and easy to navigate. (eg, First Home Buyer, Variable, Split Commission). Loan Categories are useful if you want to report on the Loan Types that you are writing or want to report on segments. The Business Statistics report on the Reports tab can filter based on Loan Categories, so if you want to identify all the Investment loans or see how many First Home Buyer loans have been written during a given period, then you need to use these Categories. Refer to Loan Categories.
Adding Contacts to an Opportunity Record
- Open the Opportunity record and select Contacts in the left-hand panel.
- Click the Link button to link an existing contact to the Opportunity record. You can add all the contacts relevant to the Opportunity, such as the applicant, referrer, accountant, conveyancer, guarantor etc.
- Click the Green Plus button to add a new contact. Refer to Creating a new People Record.
Adding Notes to an Opportunity Record
Tip: Ensure you enter your Notes in the Opportunity record, NOT the People record. Record all communication about the loan here - phones calls, text messages, and emails etc.
- Open the Opportunity record and select Notes in the left-hand panel.
- Click the Green Plus button to add a new Note.
- In the Details tab, enter the Note details in the appropriate fields.
- Tick the Send as Email checkbox if you wish to send the Note as an email.
- Click the button next to the Subject field, to attach an Email Template. Refer to Creating Email Templates.
- Click the Attachments tab if you wish to attach a document to your Note.
- Click Save, or Send & Save if you are sending the Note as an email.
Adding Tasks to an Opportunity Record
- Open the Opportunity record and select Tasks in the left-hand panel.
- Click the Green Plus button to add a new Task. Refer to Creating a Task.
- Click the Green Arrow button to apply a Task Template. Refer to Applying a Task Template to an Opportunity.
Adding Attachments to an Opportunity Record
Tip: You can store an unlimited number of documents in the Attachments section, however, the document size is limited to 10MB.
- Open the Opportunity record and select Attachments in the left-hand panel.
- Click Upload File or Attach from Library to upload and attach a document to the Opportunity.
- You can assign documents to different categories to allow for easy sorting. Tick the appropriate checkbox to filter the attachments. Refer to Document Categories.
Adding Questionnaires to an Opportunity Record
- Open the Opportunity record and select Questionnaires in the left-hand panel.
- Click the Green Plus button to add a new Questionnaire.
- Select the appropriate Questionnaire from the list and click Choose. You can also create custom Questionnaires. Refer to How to Create and Modify a Questionnaire.
- Click on the Email button to send Questionnaires to your clients via email from Mercury. Refer to How to email a Questionnaire.
Adding Assets & Liabilities to an Opportunity Record
Compliance note: You need to complete the Asset & Liabilities section of the opportunity to ensure the Compliance documents populate correctly,
- Open the Opportunity record and select A and L in the left-hand panel.
- Click the Green Plus button to add a new Asset or Liability. Refer to Assets and Liabilities.
Adding Calculations to an Opportunity
Compliance note: You need to complete the Calculations section of the opportunity to ensure the Compliance documents populate correctly. The Product Comparison and Funding Position needs to be completed for a Preliminary Assessment to be generated. A Borrowing Capacity is not a requirement for Compliance documents to generate, although it is preferred.
- Open the Opportunity record and select Calculations in the left-hand panel.
- Click the New drop down box to add a new Calculation:
- Funding Position - The Funding Position calculates all the loan amount, security values, LVR, LMI, stamp duty and other fees to provide a summary position. Refer to How to do a Funding Position.
- Borrowing Capacity - Refer to How to do a Borrowing Capacity Calculation.
- Product Comparison - A product comparison allows you to compare the rates, repayments, fees and other details of products. Refer to How to do a Product Comparison.
Adding Products to an Opportunity
Compliance note: The Product details are used to generate the Credit Proposal Disclosure document, and the Product information is also populated into Apply Online.
- Open the Opportunity record and select Products in the left-hand panel.
- Click the Green Plus button to add a new Product. Refer to Product Search and Details.