Once loan is marked as 'Settled' or 'Won', its splits can be varied with the lender using the two step Refix process (or 'Switch process' in Australia).
1. Start a Refix
Open any settled or won deal and look for the 'Refix' option in the side bar:
Once in Refix screen, select split that is being Refixed. Note that more than one split can be processed at any time.
Follow the loan selection process as per the broker tools.
Note: One split cannot be converted into two splits using this process.
The original loan account number will automatically populate the new loan split ('Refix'). Change if the new number is issued prior to posting to commission.
2. Post Refix to the Commission System
Once Refix is approved, click on the green button 'Complete refix/ post to commission':
Complete compulsory effective date and add compliance commentary. These notes will be showing in the compliance comments section and since deal is settled, these cannot be edited.
New and archived splits will show in loan summary tab in Broker Tools:
Refix product will now show in Finance Profile under deal contact/s.
To refix the other or new split, simply repeat steps 1 and 2.
Note that lender's refix documents aren't produced in the CRM (due to the design of these PDFs), so these need to be manually completed for each lender.
See Refix process in action in this short video: