Update to the Self Employed Income Wizard

You can now enter negative values onto the Self Employed Income Wizard. Simply enter in your values with a '-' in to the Net Profit Before Tax fields for either financial years and the Self Employed Income Wizard will calculate the total for you.

You can find more information about the Self Employed Income Wizard here.

New income types added to Borrowing Capacity

You asked, we listened.

We have updated the income types available in our Borrowing Capacity calculator. As of today you can now select the following additional fields:

  • Commissions
  • Family tax benefits
  • Government Pension
  • Private Pension

As we continue to expand the Nexus Servicing Engine will update additional fields.

Updates to Client Centre requests

We've been working hard to enhance the Client Centre and have made updates to better accomodate where applicants belong to separate requests. 

When a person is disabled from a Client Centre request their financial details such as Living Expenses, Other Incomes, Assets and Liabilities will no longer be visible to the other applicants. 

Previously only the information stored on their People record (personal details, address and employment details) was hidden. 

Visit the Connective Wiki to learn more about Client Centre requests.

Borrowing capacity updates - St George now included

Great news - we've released another lender into our Nexus Servicing Engine. 

Our St George Bank lender-specific calculator is now live in Mercury Nexus. As well as greater accuracy, you can now access the DTI and policy and servicing status at a glance. Learn more here.

St George joins CBA, Westpac, NAB, Macquarie and Bankwest. We will continue to update you as more lenders become available. meaning you will now see 

DTI Policy included in Borrowing Capacity Calculator

To assist in finding the right loan for your client we’ve integrated lender DTI Policy and created a traffic light status system. Currently available for CBA, Westpac, NAB, Macquarie and Bankwest; the new status allows you to identify with a glance, the loans your client meets requirements for.

Linked to individual lender policies, we've introduced four new features:

  • Debt to Income (DTI) Status: A traffic light system (red, orange, green) that indicates whether your client’s DTI meets the lender policy.
  • Debt to Income (DTI) Policy: Available when hovering your mouse over the DTI ratio.
  • Max Amount Status: A green/red light system that indicates if the requested loan amount is below the lenders maximum.
  • Servicing Status: A traffic light system (red, orange, green) that allows you to easily determine serviceability, based on DTI policy and max amount.

When are these new features available? 

These  new features will be released into production this evening so they are ready for you tomorrow morning (March 9th). 

How does it work?

DTI Status takes the DTI ratio and compares it to the lender policy. Hovering over it will display the lender-specific DTI policy:

  • If the DTI ratio is within the lender's policy the status will appear green.
  • If the DTI ratio is outside the lender's policy the status will appear red.  
  • If the DTI ratio is not within policy, but there may be further actions that can be taken the status will appear orange. It is advisable you contact the lender in this case. 

DTI Policy can be found by hovering your mouse over the DTO Ratio. 

Max Amount Status takes the loan requested amount (as determined by asset value and LVR) and compares it to the lender's max amount:

  • If the loan requested is below the Max Amount, the status will appear green.
  • If the loan requested is above the Max Amount, the status will appear red.

Servicing status looks at the status of DTI ratio and Max Amount:

  • If either the DTI or Max Amount is red, the servicing status will be red.
  • If both the DTI and Max Amount are green, the servicing status will be green.
  • If the Max Amount is green and the DTI is orange, the servicing status will be orange.

As we continue to roll out additional lender-specific calculators as part of our Nexus Servicing Engine updates, the servicing status will become available for more lenders. To learn more about calculators visit the Connective Wiki.

What's Next? 

As we continue to roll out additional lender-specific calculators into the Nexus Servicing Engine, the DTI policy and servicing status will become available for more lenders.

In the next release we also display the DTI and Income Policies for each lender in a larger slide-out panel, so you can get a clearer more informative overview of lender policy.

We will also expand the incomes types and introduce an income wizard that helps you to calculate self-employed income. 

Keep an eye on Nexus News for more updates. 

Stay informed with the Connective Affinity slide out

The Connective Affinity slide-out has been updated to display application and status details.  

After you complete the 'Send Verification' step of the Connective Affinity process, the slide-out will display details about the application. Under each of the traffic light steps you will see: 

  • The applicant’s personal details.
  • A summary of the loan requested.
  • The property address.
  • The applicant’s financials details.

In the top right-hand corner, you will also see the application status. After the verification has been sent to the client the status of the application will be displayed here, so you can always stay up to date.


Find data in seconds

Mercury Nexus is built with powerful search filters that allow you to locate data with ease. In exciting news, we've now expanded that functionality by adding more options to the filters available on Opportunities and People records. 

What's changed? 

- Dropdown filters that were previously single select, such as Relationship Manager, Lead Source and Category, are now a multi-select. This means you can use multiple values with the one search.

- You can now use 'is empty' as a search field for email and mobile, allowing you to quickly identify gaps you need to fill in your database.

- You can use 'Category - Not in' as a search field for People records.

Click to learn more about Using the CRM Search Filters.



Further Updates to the Borrowing Capacity Calculator

We've updated the calculations in the borrowing capacity calculator for Bankwest, NAB and Westpac. To support these improvements we've made some changes to how the borrowing capacity results are displayed.

We've split the comments out in to separate columns so that they're easier to read. And we've also added some additional columns that apply to the calculations performed by Connective.


Product Rate, Buffer Rate and Assessment Rate

For Connective performed lender calculations (Bankwest, NAB and Westpac) you will notice the Product Rate and Buffer Rate columns in your results.

  • Product Rate = product base rate
  • Buffer Rate = is applied when calculating serviceability as determined by ASIC

For these three lenders Connective uses the actual Product Rate + 3% (buffer) to determine the Assessment Rate which returns an accurate within $ result when compared to the lender calculators themselves.


Monthly Surplus

We've also added the monthly surplus column for Connective performed calculations:

  • Monthly surplus = amount remaining after loan and expenses have been paid. (This column is hidden by default, but it can be added to the display by enabling in the column preferences)


Living Expenses vs. Total Expenses

For all lenders you will notice changes to the Living Expense column and the addition of the Total Expenses column.

Living Expenses =

  • for calculations performed by Connective this column will list HEM for each lender
  • for calculations performed by NextGen this column will show the NextGen returned expense value - this is no different to what is currently being displayed

Total Expenses =

  • for calculations performed by Connective this column will total the basic living expenses compared against HEM and taking the higher of the two + additional living expenses + existing loan repayments
  • for calculations performed by NextGen this column will total the NextGen returned expense value + additional living expenses + existing loan amount


DTI (Debt to Income ratio)

For Connective performed lender calculations you will notice the Borrower(s) DTI column. 

  • Borrower(s) DTI = will list DTI % for lender calculations performed by us

We've got more coming in this space, check out the Connective wiki.

Learn more about these changes on the Connective wiki

You asked for it - new Borrowing Capacity Calculators

We know that the limitations of serviceability calculators are an industry wide problem, so we’re taking steps to fix it. 

Rather than relying on third-party providers, we’ve been re-building our own servicing engine to create lender-specific calculators that consistently deliver accurate results. 

We’re thrilled to announce the following lenders have been switched to the new Mercury servicing engine:  

  • Bank West
  • NAB
  • Westpac

You don't have to do anything to enable the new calculations, they have already replaced the previous ones in your results. 

You should see significantly more accurate results for these lenders, and over the next few weeks we’re updating the rest of our calculators. As we upgrade the calculators for other lenders, we’ll announce it via the usual channels. 

We’ve also added some new fields to support the new calculations. Learn about these on the wiki. 

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