11-03-2019 09:16 AM - edited 12-03-2019 04:59 PM
I have a stand alone discharge of mortgage where the loan was paid out sometime ago. I thought PEXA was the way to go, but I'm having trouble. I started in PEXA, invited bank (CBA) and they accepted. I uploaded the DA and emailed to CBA (customer's account notified for rego fee etc). After a week or so I conversationed bank to see whats happening. They asked me to put a settlement date in. I told them I couldn't because it was a non-financial transaction. Another week has gone by and no response. Maybe PEXA isn't the way to go?
on 15-04-2019 03:20 PM
I think PEXA is the way to go but it should be a standalone workspace with only CBA as a sole participant.
CBA are the CT Controller and the Mortgagee on Title.
From a PEXA workspace perspective you, as a solicitor, have no part to play.
Unfortunately, as soon as you withdraw from the workspace you will lose visibility.
If they are not responding to your Conversations, perhaps give CBA a call before you withdraw.
on 15-04-2019 03:32 PM
Hi AJ Jones
We had a similar scenario recently. The client arranged this directly with his Bank. We were not involved at all. The Bank carried out the Discharge via Pexa without our involvement.
Hope this helps.