Splitting Templates allow an Admin Mercury user to apply common Commission Split quickly and easily. This is often used when splitting with the same Referrer and Broker on a regular basis.
NOTE: Before constructing a Splitting Template, the payees must already have been created. Refer to Payee Setup for Splitting.
Create a Splitting Template
You need Commission Splitting and Payee access to perform this function in Mercury. Refer to Commission Access in Mercury.
- In the Commissions App, select Splitting Templates in the left-hand panel.
- Click New Splitting Template.
- Enter a Template Name.
- Click the Loan Writer drop down box and choose the Loan Writer. This will allow the assigned Loan Writer to use this Splitting Template from within a Virtual Branch. If the Splitting Template is not to be used by a Loan Writer from within a Virtual Branch, leave as Not Applicable.
- Assign up to four Payees to the Splitting Template. The Default Split on each Payee will automatically apply to the Upfront and Trailer fields. These can be overridden in the Splitting Template by entering the figures manually.
- NOTE: all split percentages are a percentage of the total commission amount. Do not assign greater than 100% in total splits.
- Click Add.
Applying a Splitting Template
- In the Commissions tab, you can apply a Splitting Template, by selecting either Interim Upfront Commissions or Loan Accounts in the left-hand panel.
- Click on the loan you wish to apply the Splitting Template to.
- Click Edit Splits.
- Click the Splitting Template drop down and select the relevant template.
- The default splits will be applied to the Loan Account.