100% of Your Commission -
100% of the Time!


The Problem

As a finance broker in Australia you are almost certainly not receiving 100% of the commissions you are due. This may well apply to other countries, or to allied industries like insurance, but mortgage and finance brokers in Australia are certainly not receiving everything they should be!

What's the evidence for this?

You only have to ask the aggregators, or franchise Head Offices, how much commission is sitting in their "orphan" commission accounts. Some of the major aggregators in Australia have $3 Million dollars or more (each) - and it's rising. This is commission that has been paid to them by the lenders but has not found it's way to the brokers. In addition, there is no doubt some commission that has not yet been paid to them by the lenders and is therefore still outstanding to brokers.

The problem will only be exacerbated with the recently-introduced stepped trail rates - where the trail rate increases each successive year. If the system is not working now, what will happen in the future? How many increases will be forgotten?

Some aggregators make genuine efforts to distribute all funds but others seem to - well, sit on it, while it earns interest.

Those brokers who make the enormous effort to track down their commission often report in the order of $500-$600 missing each month. Franchise offices with 2-4 loan-writers say it's around $1500 per month.

 

The Solution

Clearly, you have to look after yourself. No-one would tolerate $500 stolen from their wallet each month - so why accept any short-payment in your commission?

The problem is - it can take several hour's work each month to reconcile the figures and most brokers give up because it's too hard.

LoanLinx provides you with a solution that will capture every cent of your commission for the life of the loan! It does this through 5 simple steps:

  1. Allows you to set up your commission rates separately for each lender, including stepped trails rate for each year.
  2. Allows you to over-ride any individual loan for special cases such as LOC or white-labelling.
  3. Automatically calculates the upfront and trail due for each month, based on the loan balance supplied by the lender.
  4. Imports the commission spreadsheet for all major aggregators and lenders (in LoanLinx Executive and LoanLinx Professional), automatically updates the loan balance and instantly flags any short-fall.
  5. Generates easy reports to help you claim your arrears.

 

Pays for Itself

Since LoanLinx can be rented for only a few dollars a month you can see how it can easily pay for itself.

Even if we leave aside the other benefits LoanLinx will give you - like increased sales and efficiency - the extra commissions alone that you will receive could well be sufficient to cover your costs!