Re: Stand alone Qld Mortgage - Individual Mortgagee requires date of birth
Apologies for the delayed response. I have been travelling.
This is a great questions and I understand why you are asking.
PEXA collects data that it requires to effect electronic lodgement and to ensure compliance to jurisdictional SRO data requirements as well as VOI requirements.
Date of Birth data for all Party records is collected for the following reasons:
Collection of DoB provides an assurance that VOI has been completed;
PEXA does not enforce a specific orchestration of any transaction. At the point of Party creation / edit it is unknown if DoB data will be required for a given transaction. Rather than force users to navigate around the platform to populate DoB data, PEXA collects DoB data on the Party screen;
Specifically on a Mortgage, for Mortgagee or indeed Mortgagor, if two or more Parties share the same name (John Smith and John Smith for example), PEXA presents the DoB adjacent to the Party Name so that the User may select the 'correct' Party. This is important as each Party is assigned a unique ID which is specifically used by PEXA, LR's and SRO's to understand which Party is being referenced in a given Document / Transaction.
PEXA is a national platform. PEXA endeavors to provide a consistent user experience no matter which jurisdiction a user is transacting in.