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.

Located in the Borrowing Capacity calculator, the Self Employed (SE) Income Wizard allows you to accurately determine two financial years of self employed income, by considering Net Profit Before Tax, non-recurring expenses, company loans, Director Fees and addbacks. 

Using the SE Income Wizard is easy. Check out the Wiki to learn how.

What's Next?

In the next few weeks we will extend the SE Income Wizard to allow you to distribute income to multiple applicants.  

Good news. We’ve created a best interests duty guide to help you capture notes effectively and scenarios to check your notes are up to scratch. Follow the link below to download your copy.

https://assets.connective.com.au/docs/Little-Book-of-BID-Final-220413.pdf

We will be launching our brand new Self Employed (SE) Income Wizard tool this Friday. 

Located in the Borrowing Capacity calculator, the SE Income Wizard allows you to accurately assess two financial years, by considering Net Profit Before Tax, non-recurring expenses, company loans, Director Fees and addbacks. 

Currently the tool works for one self employed entity, however we're working on extending this functionality and will update you when the next release is live. 

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

Our Bank of Melbourne 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.

Bank of Melbourne joins CBA, Westpac, NAB, Macquarie, Bankwest and St George Bank. We will continue to update you as more lenders become available.

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.

We're happy to announce our latest update to the Mercury Nexus Borrowing Capacity calculator.

As of tomorrow you will be able to indicate if applicants and their dependents belong to separate households, ensuring you accurately calculate living expenses.

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 

We understand that getting a comprehensive credit check on behalf of your clients can be a huge time saver for you - so we've made the process seamless.

You can now order an illion Access Seeker credit check directly from an Opportunity in Mercury Nexus, and it will be processed and appear in the Attachments tab in less than a minute - at absolutely no cost to you.

How do I get accredited?

For step-by-step instructions visit the Connective Wiki. 

How long will it take to get accredited?

The registration process may take up to two business days:

• You should receive an email with your credentials within 24 hours.
• After you have entered your credentials in to Mercury Nexus, it may take another 24 hours before your account is activated.
  Note. Credentials are activated three times a day - 10am, 1pm, 4pm.

If you have any issues with the registration process please contact the Mercury Helpdesk at helpdesk@connective.com.au

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.