Community home
Menu
  • PEXA Certified Expand

    PEXA Certified

    This program will give you an introduction to PEXA, how it works and how it can help you transform your business processes.

    Discover More
    • Getting Business Ready
    • System Set Up
    • Transacting in PEXA
  • Help Centre Expand

    Help Centre

    Here you’ll find more than 230 help articles and videos to assist you.

    Discover More
    • Help Articles
    • Help Videos/PEXA TV
    • PEXA Interactive Demos
    • FAQs
    • Ask a Question
    • PEXA Certified
  • Ask a Question
  • Share your Experience
  • Raise an Idea
  • Blogs Expand

    Read the latest in our blogs.

    Keep up to date with the latest PEXA product releases, and read up on the property blog.

    Discover more
    • Community Blog
    • The Property Blog
    • Security Updates
    • PEXA Product Releases
    • Announcements | Outages etc
    • The Bank Blog
    • Workspaces
      Community
      Register
      Log in
    Apps menu
  • Register / Login

Community Home
Register / Login

Discharge of Second Mortgage - Paper Discharge dated 1 March 2018

cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 
  • Community
  • :
  • Join the Discussion
  • :
  • Ask a question
  • :
  • Discharge of Second Mortgage - Paper Discharge dat...

Discharge of Second Mortgage - Paper Discharge dated 1 March 2018

SOLVED
Go to solution
Reply
Topic Options
  • Subscribe to RSS Feed
  • Mark Topic as New
  • Mark Topic as Read
  • Float this Topic for Current User
  • Bookmark
  • Subscribe
  • Printer Friendly Page
  • All forum topics
  • Previous Topic
  • Next Topic
Yvette
Yvette
Contributor
  • Mark as New
  • Bookmark
  • Subscribe
  • Subscribe to RSS Feed
  • Highlight
  • Print
  • Email to a Friend
  • Report Inappropriate Content

on ‎12-06-2018 06:40 PM

on ‎12-06-2018 06:40 PM

Discharge of Second Mortgage - Paper Discharge dated 1 March 2018

I act for registered proprietor on title.  They are arranging a refinance. There are two mortgages to be discharged on title.  I hold a PAPER discharge of mortgage DATED 1 MARCH 2018, which was handed to me by the second mortgagee's solicitor Dentons at payout of the loan.   I have set up a workspace and invited the first mortgagee and requested a CoRD holder consent to registration of the discharge of the second mortgage.  Questions:  #1  Is this a stand alone discharge dated after the cut off date, and if so, why would Denton's hand me a paper discharge of mortgage?  #2 If I can lodge paper discharge at NSWLRS after consent - have I set it up correctly (as above) ??

Help ?  I am confused - both Banks are confused....

 

Thanks

Solved! Go to Solution.

  • Tags:
  • Consent
  • CORD
  • DISCHARGE
0 Likes
Reply
  • All forum topics
  • Previous Topic
  • Next Topic
1 ACCEPTED SOLUTION

Accepted Solutions
Ames
Ames Star Employee
Star Employee
  • Mark as New
  • Bookmark
  • Subscribe
  • Subscribe to RSS Feed
  • Highlight
  • Print
  • Email to a Friend
  • Report Inappropriate Content

on ‎13-06-2018 11:07 AM

on ‎13-06-2018 11:07 AM

Solution

Re: Discharge of Second Mortgage - Paper Discharge dated 1 March 2018

Hi @Yvette,

 

You have described a standalone discharge of mortgage (as it was given to you upon repayment and could have been lodged at that time, provided the title was made available). The second mortgagee could have requested the CoRD holder consent then lodged the discharge of mortgage online. In any event, either the standalone discharge OR the refinance would be required to be lodged electronically if both mortgagees are ADIs.

 

Ordinarily you would not have a role to play in a refinance workspace, the incoming mortgagee and both outgoing mortgagees (or their representatives) would transact in the Workspace together.

 

Ames.

View solution in original post

0 Likes
Reply
3 REPLIES 3
Ames
Ames Star Employee
Star Employee
  • Mark as New
  • Bookmark
  • Subscribe
  • Subscribe to RSS Feed
  • Highlight
  • Print
  • Email to a Friend
  • Report Inappropriate Content

on ‎13-06-2018 11:07 AM

on ‎13-06-2018 11:07 AM

Solution

Re: Discharge of Second Mortgage - Paper Discharge dated 1 March 2018

Hi @Yvette,

 

You have described a standalone discharge of mortgage (as it was given to you upon repayment and could have been lodged at that time, provided the title was made available). The second mortgagee could have requested the CoRD holder consent then lodged the discharge of mortgage online. In any event, either the standalone discharge OR the refinance would be required to be lodged electronically if both mortgagees are ADIs.

 

Ordinarily you would not have a role to play in a refinance workspace, the incoming mortgagee and both outgoing mortgagees (or their representatives) would transact in the Workspace together.

 

Ames.

View solution in original post

0 Likes
Reply
GeorgePolus
GeorgePolus Star Employee
Star Employee
  • Mark as New
  • Bookmark
  • Subscribe
  • Subscribe to RSS Feed
  • Highlight
  • Print
  • Email to a Friend
  • Report Inappropriate Content

on ‎13-06-2018 11:18 AM

on ‎13-06-2018 11:18 AM

Re: Discharge of Second Mortgage - Paper Discharge dated 1 March 2018

Hi Yvette,

 

I double checked with NSW LRS. 

 

Per the communicated mandate, LRS will not accept a Paper Discharge of Mortgage dated on or after March 1, 2018.  

 

As your firm does not act for the Mortgagee (meaning you firm has no signed CAF) your firm cannot create and lodge an electronic Discharge of Mortgage. 

 

The Party who has a signed CAF with the Mortgagee will need to create and lodge the electronic Discharge,

 

Once this is completed the ReFI may go ahead. 

 

Please let me @GeorgePolus know if I can be of further assistance. 

 

Regards

George 

1 Like
Reply
Yvette
Yvette
Contributor
  • Mark as New
  • Bookmark
  • Subscribe
  • Subscribe to RSS Feed
  • Highlight
  • Print
  • Email to a Friend
  • Report Inappropriate Content

on ‎13-06-2018 04:06 PM

on ‎13-06-2018 04:06 PM

Re: Discharge of Second Mortgage - Paper Discharge dated 1 March 2018

Great, thank you.

0 Likes
Reply
PEXA

|

Facebook Twitter LinkedIn
  • Support
  • Privacy Policy
  • Terms of Service