Funded deals and commissions

Mark a deal funded

1. 1Open the deal's Funded tab and click Mark funded.
2. 2Enter the lender, funded date, funded amount, factor rate, payment and frequency, number of payments and position.
3. 3Enter the base commission and any upsell, the rep's split, and a partner or referral with their split if there is one.
4. 4Save. The funded deal is created with its payback, and the expected commissions and splits are calculated.

Splits are worked out the same way every time: a partner's share comes off the top, and the rep gets their percentage of what is left for the house (50% unless your organization or the deal says otherwise).

Track payments

On the funded deal, Record remittance logs payments, or the lender's remitted-to-date total, so the percentage paid stays current. To update many deals at once, use Import lender remittances with the lender's remittance report.

Commissions

Commissions in the sidebar has four views: Overview, All commissions, Payouts (what you owe reps and partners) and Reconcile. On a commission:

• Mark commission received when the lender pays you: amount and date.
• Record clawback if a deal defaults inside the lender's clawback window (set on the lender, in days). The funded deal shows a clawback warning while it is inside that window.
• Void a commission that should never have been expected.

Under Reconcile, upload a lender's commission statement as a CSV. Lines are matched to your funded deals automatically for you to review and confirm.