on 19-04-2018 06:52 AM
Just wanted to confirm if the person signing the mortgage in PEXA also needs to sign the paper mortgage for the mortgagee,
Or if a fully signed paper mortgage is held signed by the mortgagor and mortgagee if sufficient for the signing of the mortgage in PEXA by the Subscriber/Signer who has not signed the paper mortgage and relying on the paper mortgage to transact in PEXA.
on 19-04-2018 09:19 AM
If you are lodging your mortgage via PEXA you do not need to sign the paper mortgage, as mortgagee, at all.
It must be signed, and witnessed if applicable, by the mortgagor but not by the mortgagee.
If the paper mortgage is signed, it does not need to be the same person who is signing the PEXA mortgage.
19-04-2018 01:09 PM - edited 19-04-2018 01:18 PM
Hey Brett @TheDoctor, are you sure the Mortgagee doesn't have to sign the corresponding "wet signature" paper Mortgage (in the jurisdictions where applicable). I note there are a number of Certifications that are signed under the Mortgagee Execution section of the paper counterpart which are probably the same as when it's signed under a digital signature in PEXA. I'm just checking that's what the Bank's legal department determined. Cheers, Baz...
on 19-04-2018 01:30 PM
G'day Baz @BGoodwin,
Yes, It was our Legal & Compliance teams who have advised that we do not need to sign the wet signature mortgage, as mortgagee, for PEXA lodged mortgages.